A J & Sigismunda Palumbo Charitable Tr 35008-5
- Assets
- $52.5m
- Revenue
- $6.4m
- Investments
- $50.6m
- Employees
- 0
- Location
- Pittsburgh, PA
- Founding
- 12/1974
- Data as of
- 03/2023
- EIN
- 25-6168159
Organization Overview
A J & Sigismunda Palumbo Charitable Tr 35008-5 is located in Pittsburgh, PA. The organization was established in 1974. 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. A J & Sigismunda Palumbo Charitable Tr 35008-5 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 03/2023, A J & Sigismunda Palumbo Charitable Tr 35008-5 generated $6.4m 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 (5.6%) each year. All expenses for the organization totaled $2.9m during the year ending 03/2023. As we would expect to see with falling revenues, expenses have declined by (3.3%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, A J & Sigismunda Palumbo Charitable Tr 35008-5 has awarded 482 individual grants totaling $14,882,952. 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 |
|---|---|---|---|
David A Ricchuito Trustee | 1 | $2,000 | |
John W Kowach Trustee | 1 | $2,000 | |
Joseph Palumbo Trustee | 1 | $2,000 | |
Pnc Bank N A Trustee | 40 | $172,650 | |
Rex Knisley Trustee | 1 | $2,000 | |
Robert Ordiway Trustee | 1 | $2,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,334,545 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,162,552 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,937,731 |
| Capital Gain Net Income | $3,937,731 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $6,434,828 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $192,650 |
| Other employee salaries and wages | $189,194 |
| Pension plans, employee benefits | $32,428 |
| Interest | $0 |
| Taxes | $72,062 |
| Depreciation | $0 |
| Occupancy | $10,914 |
| Travel, conferences, and meetings | $1,475 |
| Printing and publications | $0 |
| Other expenses | $40,547 |
| Total operating and administrative expenses | $659,300 |
| Contributions, gifts, grants paid | $2,236,530 |
| Total expenses and disbursements | $2,895,830 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $65,648 |
| Savings and temporary cash investments | $1,456,104 |
| 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 | $44,170,355 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $375,343 |
| Total assets | $52,489,886 |
| 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, A J & Sigismunda Palumbo Charitable Tr 35008-5 has awarded $2,236,530 in support to 78 organizations.
| Grant Recipient | Amount |
|---|---|
OUR LADY OF THE SACRED HEART PURPOSE: GENERAL SUPPORT | $10,000 |
MHY FAMILY SERVICES PURPOSE: GENERAL SUPPORT | $50,000 |
SOCIETY OF ST VINCENT DE PAUL PURPOSE: GENERAL SUPPORT | $15,000 |
VILLAGE THEATER COMPANY PURPOSE: GENERAL SUPPORT | $10,000 |
HOPE CENTER FOR ARTS AND TECHNOLOGY PURPOSE: GENERAL SUPPORT | $40,000 |
UNITED STATES CONFERENCE OF PURPOSE: GENERAL SUPPORT | $10,000 |