Galgano Family Foundation
- Assets
- $1.6m
- Revenue
- $111.7k
- Investments
- $887.0k
- Employees
- 0
- Location
- Naperville, IL
- Founding
- 06/2019
- Data as of
- 12/2022
- EIN
- 81-6965769
Organization Overview
Galgano Family Foundation is located in Naperville, IL. The organization was established in 2019. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., 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. Galgano Family Foundation 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 12/2022, Galgano Family Foundation generated $111.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (3.0%) each year. All expenses for the organization totaled $242.3k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Galgano Family Foundation has awarded 11 individual grants totaling $406,501. 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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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2,223 |
| Dividends & Interest | $1,362 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $106,136 |
| Capital Gain Net Income | $106,136 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,948 |
| Total Revenue | $111,669 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $79,500 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $9,321 |
| Total operating and administrative expenses | $91,296 |
| Contributions, gifts, grants paid | $151,001 |
| Total expenses and disbursements | $242,297 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $664,802 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,551,815 |
| 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 | $33,934 |
| Total liabilities | $33,934 |
Grants Awarded
Over the last fiscal year, Galgano Family Foundation has awarded $151,001 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
BENET ACADEMY PURPOSE: GENERAL | $106,001 |
WEST SUBURBAN COMMUNITY PANTRY PURPOSE: GENERAL | $10,000 |
HAITI OUTREACH PURPOSE: GENERAL | $10,000 |
TOBY KEITH FOUNDATION PURPOSE: GENERAL | $25,000 |