Morabito Family Foundation
- Assets
- $1.2m
- Revenue
- $527.6k
- Investments
- $842.0k
- Employees
- 0
- Location
- Houston, TX
- Founding
- 03/2019
- Data as of
- 12/2022
- EIN
- 83-2817998
Organization Overview
Morabito Family Foundation is located in Houston, TX. The organization was established in 2019. According to its NTEE Classification (T50) the organization is classified as: Philanthropy, Charity & Voluntarism Promotion, 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. Morabito Family Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Philip A Morabito President | 0 | $0 | |
Joan R Morabito Secretary | 0 | $0 | |
Beverly Morabito Director | 0 | $0 | |
Audrey Morabito Director | 0 | $0 | |
Grace Morabito Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $480,000 |
| Interest on Savings | $1,484 |
| Dividends & Interest | $1,706 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $44,397 |
| Capital Gain Net Income | $44,397 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $527,587 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $466 |
| Total operating and administrative expenses | $466 |
| Contributions, gifts, grants paid | $30,000 |
| Total expenses and disbursements | $30,466 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,502 |
| Savings and temporary cash investments | $344,389 |
| 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 | $842,011 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,198,902 |
| 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, Morabito Family Foundation has awarded $30,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
WILLIS MET HEAD START PURPOSE: EARLY CHILDHOOD PROGRAM | $10,000 |
DALLAS CHILDREN'S ADVOCACY CENTER PURPOSE: IMPROVING THE LIVES OF ABUSED CHILDREN | $10,000 |
MOVING WATERS PURPOSE: MOBILE SHOWERS FOR THE UNHOUSED | $10,000 |