James And Loretta Colotto Foundation Inc
- Assets
- $2.7m
- Revenue
- $158.6k
- Investments
- $2.5m
- Employees
- 0
- Location
- Hackensack, NJ
- Founding
- 04/2001
- Data as of
- 12/2021
- EIN
- 22-3769926
Organization Overview
James And Loretta Colotto Foundation Inc is located in Hackensack, NJ. The organization was established in 2001. 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. James And Loretta Colotto 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, James And Loretta Colotto Foundation Inc generated $158.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.1%) each year. All expenses for the organization totaled $367.3k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, James And Loretta Colotto Foundation Inc has awarded 191 individual grants totaling $1,478,100. 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
INVESTMENT INCOME AND CORPUS DISTRIBUTED TO 501(C)(3) CHARITABLE ORGANIZATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter G Bowen President | 3 | $23,288 | |
Michael Scicutella Vice President | 3 | $23,288 | |
Michael Gilmartin Secretary | 3 | $23,288 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $113,410 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $45,206 |
| Capital Gain Net Income | $45,206 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $158,616 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $69,864 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $5,413 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,893 |
| Total operating and administrative expenses | $89,110 |
| Contributions, gifts, grants paid | $278,200 |
| Total expenses and disbursements | $367,310 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $222,873 |
| 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 | $206,281 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $2,706,793 |
| 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 | $83,678 |
| Total liabilities | $83,678 |
Grants Awarded
Over the last fiscal year, James And Loretta Colotto Foundation Inc has awarded $278,200 in support to 39 organizations.
| Grant Recipient | Amount |
|---|---|
Plainfield, NJ PURPOSE: GENERAL USE | $30,000 |
MERCY HOME FOR BOYS GIRLS PURPOSE: GENERAL USE | $21,500 |
EWUASO KEDONG CATHOLIC CHURCH PURPOSE: GENERAL USE | $20,000 |
CATHOLIC RELIEF SERVICES PURPOSE: GENERAL USE | $18,000 |
HAITI SOLIDARITY NETWORK OF NORTH E PURPOSE: GENERAL USE | $15,500 |
Tenafly, NJ PURPOSE: GENERAL USE | $13,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
S & G Foundation albany, NY | $1,180,089,159 | $294,936,683 |
Starr Foundation New York, NY | $1,351,331,495 | $187,314,215 |
Robertson Foundation New York, NY | $308,129,047 | $104,540,927 |
William Randolph Hearst Foundation New York, NY | $0 | $92,096,829 |
Foundation For A Just Society New York, NY | $0 | $262,120,919 |
Surdna Foundation Inc New York, NY | $0 | $71,392,126 |
Johnson & Johnson Foundation United States Inc New Brunswick, NJ | $130,108,063 | $92,858,448 |
Carson Fam Charitable Tr New York, NY | $302,357,968 | $144,716,166 |
Blavatnik Family Foundation 2020 New York, NY | $0 | $14,146 |
Henry Luce Foundation Inc New York, NY | $1,226,277,880 | $84,818,070 |
Paul E Singer Foundation New York, NY | $412,018,579 | $19,273,091 |
Bernard And Anne Spitzer Charitable Tr New York, NY | $0 | $17,565,686 |