The Rossi Foundation
- Assets
- $3.6m
- Revenue
- -$5.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Cromwell, CT
- Founding
- 11/2018
- Data as of
- 12/2023
- EIN
- 81-0828028
Organization Overview
The Rossi Foundation is located in Cromwell, CT. The organization was established in 2018. 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. Rossi 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 2018, Rossi Foundation has awarded 76 individual grants totaling $220,054. 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
DONATIONS OF VARIOUS ITEMS OF PERSONAL PROTECTIVE EQUIPMENT (PPE). THE FOUNDATION PURCHASES ITEMS OF PPE AND DONATES THE ITEMS VARIOUS NON-PROFIT ORGANZIATIONS AND BUSINESSES TO ENSURE THAT INDIVIDUALS PROTECT THEMSELVES FROM THE SPREAD OF COVID-19. THE RECIPIENT ORGANIZATIONS WILL THEN DISTRIBUTE THE PPE TO THEIR EMPLOYEES OR DISTRIBUTE THEM TO THE GENERAL PUBLIC. THE FOUNDATION ALSO PURCHASES ITEMS OF PPE AND RESELLS THE PPE TO VARIOUS GOVERNMENT ENTITIES. THIS IS DONE TO ASSIST THE GOVERNMENT ENTITIES WITH ACQUIRING PPE WHICH OFTEN TIMES DURING THE HEIGHT OF THE PANDEMIC WOULD BE DIFFICULT TO OBTAIN. THIS HELPS VARIOUS GOVERNMENT ENTITIES WITH HELPING THEIR EMPLOYEES AND CITIZENS WITH STOPPING OR REDUCING THE SPREAD OF COVID-19.
SUPPORT OF CHARITABLE PURPOSES INCLUDING RELIGIOUS, CHARITABLE, SCIENTIFIC, LITERARY, OR EDUCATIONAL PURPOSES; THE FOSTERING OF THE NATIONAL OR INTERNATIONAL AMATEUR SPORTS (BUT ONLY IF NO PART OF THE ACTIVITIES OF THE ORGANIZATION PURSUING SUCH PURPOSES INVOLVE THE PROVISION OF ATHLETIC FACILITIES OR EQUIPMENT); OR THE PREVENTION OF CRUELTY TO CHILDREN OR ANIMALS, ALL WITHIN THE MEANING OF SECTION 501(C)(3) OF THE CODE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Theodore P Rossi Trustee | 1 | $0 | |
Ruth H Rossi Trustee | 1 | $0 | |
Theodore P Rossi Jr Trustee | 1 | $0 | |
Mary K Rossi Trustee | 1 | $0 | |
Beth A Rossi Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $8 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | -$5,139,738 |
| Other Income | $13,358 |
| Total Revenue | -$5,126,372 |
| 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 | $0 |
| Travel, conferences, and meetings | $17,784 |
| Printing and publications | $101 |
| Other expenses | $56,305 |
| Total operating and administrative expenses | $179,067 |
| Contributions, gifts, grants paid | $7,250 |
| Total expenses and disbursements | $186,317 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $23,660 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $1,323,125 |
| Net other notes and loans receivable | $98,390 |
| Inventories for sale or use | $2,119,127 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,564,302 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $3,008,630 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $3,122,473 |
| Total liabilities | $6,131,103 |
Grants Awarded
Over the last fiscal year, The Rossi Foundation has awarded $7,250 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
DIOCESE OF NORWICH PURPOSE: SUPPORT | $100 |
KNIGHTS OF COLUMBUS PURPOSE: SUPPORT | $500 |
FEDERATION OF JEWISH COMMUNITIES PURPOSE: SUPPORT | $5,000 |
NEW LONDON COUNTY ROTARY FDN PURPOSE: SUPPORT | $950 |
BASILICA OF THE NATIONAL SHRINE PURPOSE: SUPPORT | $500 |
ALZHEIMER'S ASSOCIATION PURPOSE: SUPPORT | $200 |