Pat Covelli Foundation Inc
- Assets
- $98.9k
- Revenue
- $126.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Long Island City, NY
- Founding
- 08/1999
- Data as of
- 12/2021
- EIN
- 11-3475576
Organization Overview
Pat Covelli Foundation Inc is located in Long Island City, NY. The organization was established in 1999. 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. Pat Covelli 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 12/2021, Pat Covelli Foundation Inc generated $126.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (8.5%) each year. All expenses for the organization totaled $95.3k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (10.1%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Pat Covelli Foundation Inc has awarded 184 individual grants totaling $530,608. 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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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Covelli President | 0.1 | $0 | |
Ralph Covelli Director | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $126,495 |
| Interest on Savings | $5 |
| 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 | $126,500 |
| 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 | $57,727 |
| Total operating and administrative expenses | $59,227 |
| Contributions, gifts, grants paid | $36,052 |
| Total expenses and disbursements | $95,279 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $75,410 |
| Savings and temporary cash investments | $23,522 |
| 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 | $98,932 |
| 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, Pat Covelli Foundation Inc has awarded $36,052 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
PITCCH IN FOUNDATION PURPOSE: UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. | $11,315 |
Huntington, NY PURPOSE: UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. | $5,000 |
AMERICAN CANCER SOCIETY PURPOSE: UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. | $3,000 |
PROJECT HOPE PURPOSE: UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. | $2,000 |
SUNRISE DAY CAMP STATEN ISLAND PURPOSE: UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. | $2,000 |
NORTHWELL HEALTH FOUNDATION PURPOSE: UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. | $2,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Pat Covelli Foundation Inc has recieved totaling $4,696.
| Awarding Organization | Amount |
|---|---|
Long Island Community Chest Inc East Northport, NY PURPOSE: TO HELP NEEDY FAMILIES ON LONG ISLAND | $3,246 |
Fifth Child Foundation Manhasset, NY PURPOSE: TO FURTHER THE WORK OF THE ORGANIZATION | $1,450 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Richard K Lubin Family Foundation Boston, MA | $152,996,918 | $13,537,947 |
The Selz Foundation New York, NY | $142,395,054 | $24,456,334 |
Rita Allen Foundation Princeton, NJ | $219,012,203 | $23,878,841 |
The Derfner Foundation New York, NY | $158,472,968 | $13,106,656 |
Jill Roberts Charitable Foundation Inc Garden City, NY | $11,485 | $9,710,793 |
James And Merryl Tisch Foundation Inc New York, NY | $1,291,425 | $11,020,609 |
Tortuga Foundation New York, NY | $110,168,381 | $33,186,414 |
The Joseph H Flom Foundation New York, NY | $6,836,169 | $3,314,736 |
The Applebaum Foundation Inc New York, NY | $229,643,281 | $16,929,047 |
Deutsche Bank Americas Foundation New York, NY | $38,867,163 | $11,020,529 |
Charles A Dana Fdn Inc New York, NY | $248,257,333 | $20,769,847 |
The Powder Mill Foundation York, PA | $147,181,195 | $3,651,780 |