Thomas A Costello Legacy Foundation
- Assets
- $224.5k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Chaska, MN
- Founding
- Data as of
- 12/2023
- EIN
- 87-2721749
Organization Overview
Thomas A Costello Legacy Foundation is located in Chaska, MN. According to its NTEE Classification (T50) the organization is classified as: Philanthropy, Charity & Voluntarism Promotion, 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. Thomas A Costello Legacy 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, Thomas A Costello Legacy Foundation generated $107.7k 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 (30.0%) each year. All expenses for the organization totaled $58.3k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE THOMAS A. COSTELLO LEGACY FOUNDATION IS A 501(C)(3) NON-PROFIT ORGANIZATION DEDICATED TO CARRYING ON THE LEGACY OF THOMAS A. COSTELLO WHO PASSED AWAY UNEXPECTEDLY IN AN ACCIDENT ON JUNE 11, 2021. WE DONATE SCHOLARSHIPS TO THOMAS'S ALMA MATERS, AS WELL AS GIVE DONATIONS TO OTHER 501C3 ORGANIZATIONS THAT IMPACTED THOMAS'S LIFE SUCH AS MAKE A WISH FOUNDATION AND DONATE LIFE. OUR MAIN FUNDRAISING ACTIVITIES ARE AN ANNUAL GOLF TOURNAMENT AND ANNUAL 5K RUN/WALK.
Describe the Organization's Program Activity:
Part 3
SCHOLARSHIPS TO THOMAS'S ALAMA MATERS FOR STUDENTS TO CONTINUE THEIR EDUCATION (4 SCHOLARSHIPS TO CHASKA HIGH SCHOOL IN CHASKA MN ($1,200 EACH) AND 4 SCHOLARSHIPS TO UNIVERSITY OF WISCONSIN, MADISON ($2,400 EACH)
DONATION TO 501C3 ORGANIZATION MAKE A WISH FOUNDATION
DONATION TO 501C3 ORGANIZATION DONATE LIFE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ashley Costello President | 5 | $0 | |
Patrick Costello Board Member | 4 | $0 | |
Elizabeth Costello Co-President | 5 | $0 | |
David Wiser Board Member | 4 | $0 | |
Kevin Farley Board Member | 4 | $0 | |
Sarah Costello Board Member | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $83,156 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $24,543 |
| Other Revenue | $0 |
| Total Revenue | $107,699 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $0 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $8,338 |
| Total expenses | $58,338 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $224,502 |
| Other assets | $0 |
| Total assets | $224,502 |
| Total liabilities | $0 |
| Net assets or fund balances | $224,502 |
Grants Awarded
Over the last fiscal year, Thomas A Costello Legacy Foundation has awarded $30,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
DONATE LIFE PURPOSE: To help continue organ donation | $15,000 |
MAKE A WISH FOUNDATION PURPOSE: To help fund wishes | $15,000 |