Deseranno Foundation
- Assets
- $694.2k
- Revenue
- $30.3k
- Investments
- $645.7k
- Employees
- 0
- Location
- Grosse Pointe Farms, MI
- Founding
- 05/2007
- Data as of
- 12/2023
- EIN
- 38-3577897
Organization Overview
Deseranno Foundation is located in Grosse Pointe Farms, MI. The organization was established in 2007. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations N.E.C., 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. Deseranno 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 12/2023, Deseranno Foundation generated $30.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (3.1%) each year. All expenses for the organization totaled $65.0k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Deseranno Foundation has awarded 52 individual grants totaling $244,600. 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 |
|---|---|---|---|
Don Joseph Deseranno President | 5 | $0 | |
Maria D Quint Secretary | 5 | $0 | |
Celia E Wade Treasurer | 5 | $0 | |
Aline A Ermanni Vice-President | 5 | $0 | |
Susan D Rahaim Vice-President | 5 | $0 | |
Dante Deseranno Vice-President | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $20 |
| Interest on Savings | $67 |
| Dividends & Interest | $27,867 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,363 |
| Capital Gain Net Income | $2,363 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $30,317 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $630 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $20 |
| Total operating and administrative expenses | $2,500 |
| Contributions, gifts, grants paid | $62,500 |
| Total expenses and disbursements | $65,000 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $48,518 |
| 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 | $645,671 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $694,189 |
| 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 | $13,500 |
| Total liabilities | $13,500 |
Grants Awarded
Over the last fiscal year, Deseranno Foundation has awarded $62,500 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
EASTSIDE YOUTH SOPRTS FDN PURPOSE: YOUTH SPORTS | $7,500 |
GROSSE POINTE FARMS-CITY LEAGUE PURPOSE: YOUTH SPORT | $2,500 |
HOLY YOGA DETROIT PURPOSE: HEALTH | $5,000 |
GROSSE POINTE FDN FOR PUBLIC EDUCATION PURPOSE: EDUCATION | $6,000 |
RED BARONS PURPOSE: YOUTH SPORTS | $3,500 |
USA FENCING PURPOSE: YOUTH SPORTS | $11,000 |