Frank & Ruth E Caruso Foundation Inc
- Assets
- $4.1m
- Revenue
- $312.0k
- Investments
- $4.0m
- Employees
- 0
- Location
- New York, NY
- Founding
- 04/2003
- Data as of
- 12/2023
- EIN
- 82-0581784
Organization Overview
Frank & Ruth E Caruso Foundation Inc is located in New York, NY. The organization was established in 2003. 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 & Ruth E Caruso Foundation Inc 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 12/2023, Frank & Ruth E Caruso Foundation Inc generated $312.0k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $262.3k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Frank & Ruth E Caruso Foundation Inc has awarded 54 individual grants totaling $610,500. 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
BECAUSE OF THE FOUNDATION'S FOCUS TO ADDRESS THE INTERSECTION OF THE ARTS AND MENTAL HEALTH, MEMBERSHIPS TO 3 ORGANIZATIONS (NAT'L ORGANIZATION OF THE ARTS AND HEALTH, AMERICAN ART THERAPY ASSOC, AMERICAN MUSIC THERAPY ASSOC.) WERE INSTATED. THE PRESIDENT ATTENDED 2 IN-PERSON CONFERENCES (NOAH, AATA) TO GAIN KNOWLEDGE IN THE FIELD, NETWORK WITH OTHER LEADERS, NETWORK WITH LCATS AND NON-PROFIT STAFF MEMBERS AND STAY ABREAST OF ANY NEW DEVELOPMENTS IN THE FIELD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lisa Turngren President | 30 | $84,722 | |
Edward Turngren Vice President | 1 | $1,750 | |
Carmela Turngren Secretary | 1 | $1,750 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $334 |
| Dividends & Interest | $79,545 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $232,161 |
| Capital Gain Net Income | $232,161 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $312,040 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $88,222 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $13,244 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $4,904 |
| Printing and publications | $244 |
| Other expenses | $3,923 |
| Total operating and administrative expenses | $126,848 |
| Contributions, gifts, grants paid | $135,500 |
| Total expenses and disbursements | $262,348 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $105,756 |
| 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 | $827,726 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $4,109,870 |
| 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 & Ruth E Caruso Foundation Inc has awarded $135,500 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
A FAIR SHAKE FOR YOUTH PURPOSE: GENERAL OPERATING SUPPORT | $2,000 |
ARTISTIC NOISE PURPOSE: ART THERAPY PROGRAM | $18,000 |
BROOKLYN CONSERVATORY OF MUSIC PURPOSE: MUSIC THERAPY PROGRAM | $20,000 |
CENTER FOR ANTI-VIOLENCE EDUCATION PURPOSE: GENERAL OPERATING SUPPORT | $12,000 |
CHILDREN OF PROMISE PURPOSE: MENTAL HEALTH / ART THERAPY PROGRAMS | $5,000 |
DAY ONE PURPOSE: MENTAL HEALTH PROGRAMS | $16,000 |