Alfiero And Lucia Palestroni Foundation Inc
- Assets
- $23.7m
- Revenue
- $3.2m
- Investments
- $22.7m
- Employees
- 0
- Location
- Englewood Cliffs, NJ
- Founding
- 06/1997
- Data as of
- 12/2021
- EIN
- 22-3452466
Organization Overview
Alfiero And Lucia Palestroni Foundation Inc is located in Englewood Cliffs, NJ. The organization was established in 1997. 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. Alfiero And Lucia Palestroni 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, Alfiero And Lucia Palestroni Foundation Inc generated $3.2m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 24.5% each year . All expenses for the organization totaled $1.6m during the year ending 12/2021. While expenses have increased by 2.2% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Alfiero And Lucia Palestroni Foundation Inc has awarded 34 individual grants totaling $1,503,100. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kristine Sayrafe Executive Director | 40 | $64,904 | |
Frank Huttle III Trustee | 1 | $0 | |
Lucia Palestroni President | 20 | $0 | |
Debbie Sena Trustee | 1 | $0 | |
Karen Lloyd Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2 |
| Dividends & Interest | $982,492 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,235,598 |
| Capital Gain Net Income | $2,235,598 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,719 |
| Total Revenue | $3,219,811 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $64,904 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $11,735 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $399,290 |
| Total operating and administrative expenses | $839,946 |
| Contributions, gifts, grants paid | $734,000 |
| Total expenses and disbursements | $1,573,946 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $45,937 |
| Savings and temporary cash investments | $879,507 |
| 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 | $10,872,637 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $65,527 |
| Total assets | $23,725,952 |
| 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 | $3,261 |
| Total liabilities | $3,261 |
Grants Awarded
Over the last fiscal year, Alfiero And Lucia Palestroni Foundation Inc has awarded $734,000 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: GENERAL FUNDING | $240,000 |
Englewood, NJ PURPOSE: GENERAL FUNDING | $110,000 |
East Hanover, NJ PURPOSE: GENERAL FUNDING | $104,000 |
ENGLEWOOD HEALTH FOUNDATION PURPOSE: GALA SPONSORSHIP | $100,000 |
Maywood, NJ PURPOSE: GALA SPONSORSHIP | $60,000 |
Paramus, NJ PURPOSE: SPECIAL NEEDS PROGRAMMING | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John R Oishei Foundation Buffalo, NY | $294,151,477 | $18,357,929 |
Lor Foundation Inc West Chester, PA | $352,392,197 | $12,888,892 |
Grable Foundation Pittsburgh, PA | $386,701,292 | $35,946,563 |
Connelly Foundation West Conshohocken, PA | $387,913,026 | $27,891,431 |
American Express Foundation New York, NY | $66,234,265 | $62,922,703 |
Essel Foundation Inc Purchase, NY | $100,106,056 | $12,292,478 |
Beth And Ravenel Curry Foundation New York, NY | $0 | $44,744,046 |
Kz Family Foundation New York, NY | $10,936,301 | $30,139,672 |
The Freeman Foundation P-01644-00-7 New York, NY | $343,405,683 | $35,941,951 |
Hearst Foundation Inc New York, NY | $439,249,947 | $42,040,987 |
Bay And Paul Foundations Inc Wilmington, DE | $33,659,644 | $890,121 |
Tansy Charitable Foundation New York, NY | $325,076,608 | $77,631,295 |