Costello Family Foundation Inc
- Assets
- $1.3m
- Revenue
- $82.6k
- Investments
- $1.3m
- Employees
- 0
- Location
- Portola Valley, CA
- Founding
- 01/1994
- Data as of
- 10/2023
- EIN
- 82-0464641
Organization Overview
Costello Family Foundation Inc is located in Portola Valley, CA. The organization was established in 1994. 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. Costello 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 10/2023, Costello Family Foundation Inc generated $82.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (13.5%) each year. All expenses for the organization totaled $77.7k during the year ending 10/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Costello Family Foundation Inc has awarded 27 individual grants totaling $243,000. 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
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
George M Costello President | 1 | $0 | |
Peter W Costello Secretarytreasurer | 2 | $0 | |
Leslie A Costello Vice President | 1 | $0 | |
Regina C Froemmling Vice President | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $38,545 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $44,064 |
| Capital Gain Net Income | $44,064 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $82,609 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,507 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $1,738 |
| Contributions, gifts, grants paid | $76,000 |
| Total expenses and disbursements | $77,738 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $45,126 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,312,937 |
| 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, Costello Family Foundation Inc has awarded $76,000 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
BOYS & GIRLS CLUB OF GREATER SAN DIEGO PURPOSE: YOUTH PROGRAMS | $3,000 |
CK-12 FOUNDATION PURPOSE: ONLINE EDUCATION RESOURCES | $24,000 |
EAST COUNTY YOUTH SYMPHONY PURPOSE: YOUTH MUSIC PROGRAMS | $3,000 |
FOUNDATION FOR A COLLEGE EDUCATION PURPOSE: EDUCATION PROGRAMS | $21,500 |
GUADALUPE SCHOOL PURPOSE: EDUCATION PROGRAMS | $8,500 |
OPERATION BOOTSTRAP AFRICA PURPOSE: EDUCATION PROGRAMS | $11,000 |