Farrell Fam Charitable Foundation
- Assets
- $814.3k
- Revenue
- $41.8k
- Investments
- $664.8k
- Employees
- 0
- Location
- Philadelphia, PA
- Founding
- 01/1998
- Data as of
- 12/2022
- EIN
- 23-7940677
Organization Overview
Farrell Fam Charitable Foundation is located in Philadelphia, PA. The organization was established in 1998. 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. Farrell Fam Charitable 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, Farrell Fam Charitable Foundation generated $41.8k 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 (3.1%) each year. All expenses for the organization totaled $130.2k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (16.2%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Farrell Fam Charitable Foundation has awarded 55 individual grants totaling $2,920,500. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael J Farrell Chairman Of The Board | 1 | $0 | |
Pnc Bank Na Removed Trustee | 3 | $10,773 | |
Thomas J Reinecke Director | 1 | $0 | |
Glenmede Trust Co N A Trustee | 3 | $0 | |
Kristen K Farrell Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $36,245 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $5,526 |
| Capital Gain Net Income | $5,526 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $41,771 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $10,773 |
| 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 | $0 |
| Total operating and administrative expenses | $11,865 |
| Contributions, gifts, grants paid | $118,300 |
| Total expenses and disbursements | $130,165 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $149,544 |
| 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 | $536,040 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $814,324 |
| 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, Farrell Fam Charitable Foundation has awarded $118,300 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF PITTSBURGH PURPOSE: NO RESTRICTIONS | $14,000 |
CANCER CARE INC PURPOSE: NO RESTRICTIONS | $500 |
HOPE NETWORK PURPOSE: NO RESTRICTIONS | $300 |
ST JOHN CAPISTRAN CATHOLIC PURPOSE: GENERAL SUPPORT | $1,500 |
PENNSYLVANIA STATE UNIVERSITY PURPOSE: GENERAL SUPPORT, $2000 FOR | $102,000 |