Frank J B & Emma S Varallo Foundation Tr
- Assets
- $26.3m
- Revenue
- $3.6m
- Investments
- $25.9m
- Employees
- 0
- Location
- Chattanooga, TN
- Founding
- 12/1989
- Data as of
- 12/2021
- EIN
- 62-6225565
Organization Overview
Frank J B & Emma S Varallo Foundation Tr is located in Chattanooga, TN. The organization was established in 1989. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Frank J B & Emma S Varallo Foundation Tr is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Frank J B & Emma S Varallo Foundation Tr generated $3.6m in total revenue. All expenses for the organization totaled $659.2k during the year ending 12/2021. While expenses have increased by 36.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Frank J B & Emma S Varallo Foundation Tr has awarded 196 individual grants totaling $1,743,450. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph F Decosimo Chairman | 0.25 | $0 | |
Robert F Decosimo Secretary | 23 | $0 | |
Joseph D Decosimo Trustee | 0.25 | $0 | |
John T Decosimo Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $102,378 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $769,461 |
| Capital Gain Net Income | $769,461 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $2,766,396 |
| Total Revenue | $3,638,235 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $5,951 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $207,216 |
| Contributions, gifts, grants paid | $452,000 |
| Total expenses and disbursements | $659,216 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $362,929 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $25,218,397 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $26,285,356 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Frank J B & Emma S Varallo Foundation Tr has awarded $633,500 in support to 28 organizations.
| Grant Recipient | Amount |
|---|---|
ADULT AND TEEN CHALLENGE MIDSOUTH PURPOSE: OPERATING FUNDS | $5,000 |
CHATTANOOGA CRU PURPOSE: OPERATING FUNDS | $6,000 |
CHATTANOOGA SPORTS MINISTRIES PURPOSE: OPERATING FUNDS | $5,000 |
CHEROKEE AREA COUNCIL PURPOSE: OPERATING FUNDS | $5,500 |
BIBLE IN THE SCHOOLS PURPOSE: OPERATING FUNDS | $110,000 |
CHILD EVANGELISM FELLOWSHIP INC PURPOSE: OPERATING FUNDS | $5,000 |