Formento Family Foundation
- Assets
- $1.5m
- Revenue
- $345.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Peoria, AZ
- Founding
- Data as of
- 12/2023
- EIN
- 87-3699028
Organization Overview
Formento Family Foundation is located in Peoria, AZ. 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. Formento 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.
For the year ending 12/2023, Formento Family Foundation generated $345.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (38.7%) each year.
Since 2022, Formento Family Foundation has awarded 18 individual grants totaling $284,250. 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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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nicholas Formento Trustee | 0 | $0 | |
Barabara Formento Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $300,000 |
| Interest on Savings | $45,349 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $345,349 |
| 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 | $0 |
| Total operating and administrative expenses | $0 |
| Contributions, gifts, grants paid | $146,000 |
| Total expenses and disbursements | $146,000 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,518,099 |
| 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 | $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 | $1,518,099 |
| 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, Formento Family Foundation has awarded $146,000 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
BILLY'S PLACE PURPOSE: TO PROVIDE SUPPORT TO CHILDREN AND THEIR FAMILIES THROUGH THEIR GRIEF JOURNEY. | $17,000 |
FOOD FOR THE POOR PURPOSE: TO HELP WITH FUNDING AND FURTHER THEIR MISSIONHELP US SERVE THOSE IN EXTREME POVERTY. WITH YOUR HELP, TO HELP THOSE IN EXTREME POVERTY. | $33,000 |
NPH USA PURPOSE: TO PROVIDE PHYSICAL, EMOTIONAL AND SPIRITUAL SUPPORT ON A LONG-TERM BASIS TO DISADVANTAGED CHILDREN. | $6,000 |
CONGREGATION OF HOLY CROSS PURPOSE: TO SUPPORT ONGOING OPERATIONS AND THE CHARISM OF HOLY CROSS. | $5,500 |
ST MARYS FOOD BANK PURPOSE: TO HELP FEED HUNGRY FAMILIES THROUGHOUT PHOENIX AND NINE ARIZONA COUNTIES. | $33,000 |
ST VINCENT DE PAUL PURPOSE: TO FEED A HUNGRY NEIGHBOR. | $33,000 |