Testa Catanoso Foundation
- Assets
- $17.5k
- Revenue
- $6.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Ocean City, NJ
- Founding
- Data as of
- 12/2023
- EIN
- 87-1554846
Organization Overview
Testa Catanoso Foundation is located in Ocean City, NJ. According to its NTEE Classification (B80) the organization is classified as: Student Services, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Testa Catanoso 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 12/2023, Testa Catanoso Foundation generated $6.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (66.6%) each year. All expenses for the organization totaled $45.0k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO IMPROVE EDUCATIONAL OUTCOMES THAT PROMOTE: - ENHANCING COMMUNITY INVOLVEMENT - INCREASING ENVIRONMENTAL PROTECTION - BUILDING APPRECIATION FOR NATURE - RAISING AWARENESS ON HOW THE HEALTH OF OUR NEIGHBORS AND COMMUNITIES DEPENDS HEAVILY ON THE HEALTH OF OUR COASTAL AND MOUNTAIN ECOSYSTEMS CONTRIBUTIONS MADE TO THE FOLLOWING ORGANIZATIONS: 1.) PENN STATE COACH GART SCHWARTZ FUND 5,000 2.) HAPPY EVER AFTER FARMS 5,000 3.) CAPE MAY TECH FAA 25,000 4.) REEDS FARM 10,000
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph A Testa President | 0 | $0 | |
Marlene R Catanoso Secretary | 0 | $0 | |
Leonard R Catanoso Trustee | 0 | $0 | |
Justin Catanoso Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $6,295 |
| Interest on Savings | $0 |
| 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 | $0 |
| Other Income | $0 |
| Total Revenue | $6,295 |
| 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 | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $0 |
| Contributions, gifts, grants paid | $45,000 |
| Total expenses and disbursements | $45,000 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,515 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $17,515 |
| 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, Testa Catanoso Foundation has awarded $45,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
PENN STATE COACH GARY SCHWARTZ FUND PURPOSE: TO SUPPORT ORGANIZATIONS MISSION | $5,000 |
HAPPY EVER AFTER FARMS PURPOSE: TO SUPPORT ORGANIZATIONS MISSION | $5,000 |
CAPE MAY TECH FAA PURPOSE: TO SUPPORT ORGANIZATIONS MISSION | $25,000 |
REEDS FARM PURPOSE: TO SUPPORT ORGANZATIONS MISSION | $10,000 |