Andersen-Formolo Family Foundation
- Assets
- $12.4m
- Revenue
- $1.1m
- Investments
- $11.8m
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 04/2005
- Data as of
- 12/2022
- EIN
- 20-1917495
Organization Overview
Andersen-Formolo Family Foundation is located in Chicago, IL. The organization was established in 2005. 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. Andersen-Formolo 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, Andersen-Formolo Family Foundation generated $1.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.1%) each year. All expenses for the organization totaled $466.4k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Andersen-Formolo Family Foundation has awarded 155 individual grants totaling $3,757,363. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas J Formolo President/treasurer | 0 | $0 | |
Stephanie Andersen-Formolo Secretary | 0 | $0 | |
Elizabeth Douglas Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1,451 |
| Dividends & Interest | $280,460 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $828,373 |
| Capital Gain Net Income | $1,547,756 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $3,163 |
| Total Revenue | $1,113,447 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $17,414 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $71,438 |
| Contributions, gifts, grants paid | $395,000 |
| Total expenses and disbursements | $466,438 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $251,060 |
| 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 | $374,621 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,749,654 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $12,376,207 |
| 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, Andersen-Formolo Family Foundation has awarded $395,000 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
NORTH AUSTIN COMMUNITY CENTER PURPOSE: AS NEEDED | $80,000 |
EXODUS WORLD SERVICE PURPOSE: AS NEEDED | $20,000 |
PANCREATIC CANCER ACTION NETWORK PURPOSE: AS NEEDED | $30,000 |
SHELDRICK WILDLIFE TRUST PURPOSE: AS NEEDED | $10,000 |
BREAKTHROUGH URBAN MINISTRIES PURPOSE: AS NEEDED | $10,000 |
CHICAGO COALITION FOR THE HOMELESS PURPOSE: AS NEEDED | $10,000 |