Picozzi Family Foundation Inc
- Assets
- $1.9m
- Revenue
- $92.3k
- Investments
- $1.8m
- Employees
- 0
- Location
- Summit, NJ
- Founding
- 09/2007
- Data as of
- 12/2023
- EIN
- 26-0146422
Organization Overview
Picozzi Family Foundation Inc is located in Summit, NJ. The organization was established in 2007. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Picozzi Family 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 12/2023, Picozzi Family Foundation Inc generated $92.3k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.2%) each year. All expenses for the organization totaled $130.4k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED COLLEGE SCHOLARSHIPS TO QUALIFIED COLLEGE & HIGH SCHOOL GRADUATES & PRIVATE HIGH SCHOOL ACADEMIC SCHOLARSHIPS TO INNER-CITY AND FINANCIALLY NEEDY STUDENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Picozzi President | 5 | $0 | |
Michael Picozzi Vice-Preside | 5 | $0 | |
Nicholas Cannone Treasurer | 10 | $0 | |
Hugh Blair Secretary | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $21,831 |
| Dividends & Interest | $56,301 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$4,746 |
| Capital Gain Net Income | $745 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $18,885 |
| Total Revenue | $92,271 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,059 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $7,557 |
| Total operating and administrative expenses | $62,616 |
| Contributions, gifts, grants paid | $67,750 |
| Total expenses and disbursements | $130,366 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $36,577 |
| Savings and temporary cash investments | $0 |
| 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 | $1,833,655 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,870,232 |
| 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, Picozzi Family Foundation Inc has awarded $69,500 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
VARIOUS HIGH SCHOOL STUDENTS PURPOSE: ACADEMIC SCHOLARSHP-PRIV HIGH SCHOOL | $14,500 |
VARIOUS COLLEGE STUDENTS PURPOSE: ACADEMIC SCHOLARSHP-COLLEGE | $20,250 |
VARIOUS HIGH SCHOOL STUDENTS PURPOSE: ACADEMIC SCHOLARSHP-PRIV HIGH SCHOOL | $14,500 |
VARIOUS COLLEGE STUDENTS PURPOSE: ACADEMIC SCHOLARSHP-COLLEGE | $20,250 |