Ippolito Charitable Foundation Of Galveston
- Assets
- $17.3m
- Revenue
- $888.3k
- Investments
- $16.3m
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 04/2001
- Data as of
- 11/2023
- EIN
- 76-0671962
Organization Overview
Ippolito Charitable Foundation Of Galveston is located in Wilmington, DE. The organization was established in 2001. 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. Ippolito Charitable Foundation Of Galveston 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 11/2023, Ippolito Charitable Foundation Of Galveston generated $888.3k in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $1.3m during the year ending 11/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Ippolito Charitable Foundation Of Galveston has awarded 314 individual grants totaling $3,627,253. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONTRIBUTIONS TO 501(C)(3) CHARTIES IN THE STATE OF TEXAS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mj Alvarado VP | 5 | $14,488 | |
Pepper I Ammann Treas | 12 | $40,247 | |
Crys C Ippolito VP | 1 | $6,000 | |
John C Ippolito Pres | 3 | $6,575 | |
Lee I Jurewitz Sec | 15 | $93,026 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Morgan Stanley | 11/29/23 | $109,490 |
Foundation Source | 11/29/23 | $57,443 |
Merrill Lynch | 11/29/23 | $54,151 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $15,274 |
| Dividends & Interest | $402,353 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $455,260 |
| Capital Gain Net Income | $455,260 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $15,402 |
| Total Revenue | $888,289 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $160,336 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $5,855 |
| Interest | $0 |
| Taxes | $12,614 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $65,662 |
| Printing and publications | $0 |
| Other expenses | $77,061 |
| Total operating and administrative expenses | $488,742 |
| Contributions, gifts, grants paid | $768,605 |
| Total expenses and disbursements | $1,257,347 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $783,661 |
| 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 | $1,274,573 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $150,000 |
| Total assets | $17,251,610 |
| 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, Ippolito Charitable Foundation Of Galveston has awarded $768,605 in support to 66 organizations.
| Grant Recipient | Amount |
|---|---|
1894 INC PURPOSE: SERIOUS FUN CHILDREN'S SERIES/GRAND KIDS FESTIVAL | $20,000 |
ADVOCACY CENTER FOR CHILDREN OF GALVESTON COUNTY PURPOSE: FORENSIC INTERVIEWING PROGRAM | $5,000 |
ALCOHOL DRUG ABUSE WOMENS CENTER INC PURPOSE: GENERAL & UNRESTRICTED | $5,000 |
BALL HIGH SCHOOL PURPOSE: MOBILE TOR STORE | $10,000 |
ARTIST BOAT INC PURPOSE: GENERAL & UNRESTRICTED | $20,000 |
BOYS AND GIRLS CLUBS OF GREATER HOUSTON INC PURPOSE: GALVESTON CLUB | $10,000 |