Richard E Olivieri Family Foundation Inc
- Assets
- $326.4k
- Revenue
- $72.1k
- Investments
- $319.5k
- Employees
- 0
- Location
- Virginia Beach, VA
- Founding
- 10/1985
- Data as of
- 12/2022
- EIN
- 54-1308959
Organization Overview
Richard E Olivieri Family Foundation Inc is located in Virginia Beach, VA. The organization was established in 1985. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Richard E Olivieri 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 12/2022, Richard E Olivieri Family Foundation Inc generated $72.1k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 23.2% each year . All expenses for the organization totaled $68.3k during the year ending 12/2022. While expenses have increased by 23.0% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Richard E Olivieri Family Foundation Inc has awarded 58 individual grants totaling $118,900. 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
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard E Olivieri Pres, Treas, Dir | 1 | $0 | |
Maureen Olivieri V.p., Secretary | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $60,000 |
| Interest on Savings | $112 |
| Dividends & Interest | $16,231 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$4,267 |
| Capital Gain Net Income | $333 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $72,076 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $25 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $3,260 |
| Contributions, gifts, grants paid | $65,000 |
| Total expenses and disbursements | $68,260 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,868 |
| 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 | $19 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $18,126 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $326,399 |
| 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, Richard E Olivieri Family Foundation Inc has awarded $65,000 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
JT WALK PURPOSE: GENERAL | $2,500 |
WHRO PURPOSE: GENERAL | $250 |
VBRC PURPOSE: GENERAL | $250 |
SUGAR PLUM BAKERY PURPOSE: GENERAL | $250 |
TIDEWATER BUILDERS ASSOCIATION PURPOSE: EDUCATIONAL | $1,000 |
VB HOME NOW PURPOSE: GENERAL | $2,000 |