The Frank Varischetti Foundation
- Assets
- $9.1m
- Revenue
- -$46.2k
- Investments
- $9.1m
- Employees
- 0
- Location
- Brockway, PA
- Founding
- 06/2008
- Data as of
- 12/2023
- EIN
- 75-3256768
Organization Overview
The Frank Varischetti Foundation is located in Brockway, PA. The organization was established in 2008. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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 Varischetti Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Since 2015, Frank Varischetti Foundation has awarded 127 individual grants totaling $2,603,568. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barbara Varischetti President | 1 | $0 | |
Frank Varischetti Sr Vice President | 1 | $0 | |
Peter Varischetti Secretary | 1 | $0 | |
Steven Varischetti Treasurer | 1 | $0 | |
Nicholas Varischetti Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $3,789 |
| Dividends & Interest | $165,013 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$215,009 |
| Capital Gain Net Income | $240,444 |
| Net ST Capital Gain | $39,910 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | -$46,207 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $16,558 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,341 |
| Total operating and administrative expenses | $50,332 |
| Contributions, gifts, grants paid | $968,311 |
| Total expenses and disbursements | $1,018,643 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,802 |
| Savings and temporary cash investments | $0 |
| 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 | $141,183 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $9,140,214 |
| 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, The Frank Varischetti Foundation has awarded $968,311 in support to 33 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN CANCER SOCIETY - RELAY FOR LIFE PURPOSE: CHARITABLE | $1,000 |
BC3 EDUCATIONAL FOUNDATION PURPOSE: EDUCATIONAL | $30,000 |
BROCKWAY AREA SCHOOL DISTRICT PURPOSE: EDUCATIONAL | $14,018 |
RIDGWAY AREA SCHOOL DISTRICT PURPOSE: EDUCATIONAL | $2,000 |
AFTER SCHOOL AT MOOREHEAD PURPOSE: CHARITABLE | $6,000 |
UPMC CHILDRENS HOSPITAL OF PITTSBURGH PURPOSE: CHARITABLE | $25,000 |