Civic Intelligence

Albert E Farone & Angela T Farone Foundation

990 • Fiscal year 2015 • EIN 16-0911612

May 01, 2014 to Apr 30, 2015 • Filed on Nov 19, 2015

Organization ProfileN/A
Cardinal Station 620 Michigan AveWashington, DC 20064

(202) 319-5606

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

13th percentile

0.02x

Higher debt load relative to assets than 13% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Liabilities / Revenue

58th percentile

0.45x

Higher debt load relative to revenue than 58% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Net Margin

92nd percentile

54%

Higher net margin than 92% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Top Officer Pay

86th percentile

$574,291

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 44.4% of source-year revenue.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Asset Growth

43rd percentile

0.2%

Faster asset growth than 43% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2014 to 2015

Revenue Growth

68th percentile

11%

Faster revenue growth than 68% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets13th percentile

Assets

Up

$31,179,029

Up $70,036 (+0.2%) from 2014

Net Assets

Up

$30,597,704

Up $133,711 (+0.4%) from 2014

Liabilities

Down

$581,325

Down $63,675 (-9.9%) from 2014

Revenue And Expenses
Liabilities / Revenue58th percentileNet Margin92nd percentile

Revenue

Up

$1,294,511

Up $126,827 (+11%) from 2014

Expenses

Down

$595,170

Down $71,343 (-11%) from 2014

Net Income

Up

$699,341

Up $198,170 (+40%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth43rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$60M$40M$20M$0Assets 2011: $24,341,452Liabilities 2011: $454,875Net Assets 2011: $23,886,5772011Assets 2012: $25,616,958Liabilities 2012: $565,261Net Assets 2012: $25,051,6972012Assets 2013: $27,274,452Liabilities 2013: $681,261Net Assets 2013: $26,593,1912013Assets 2014: $31,108,993Liabilities 2014: $645,000Net Assets 2014: $30,463,9932014Assets 2015: $31,179,029Liabilities 2015: $581,325Net Assets 2015: $30,597,7042015Assets 2016: $32,267,740Liabilities 2016: $601,400Net Assets 2016: $31,666,3402016Assets 2017: $29,866,848Liabilities 2017: $659,030Net Assets 2017: $29,207,8182017Assets 2018: $30,931,266Liabilities 2018: $833,340Net Assets 2018: $30,097,9262018Assets 2019: $33,378,770Liabilities 2019: $1,650Net Assets 2019: $33,377,1202019Assets 2020: $32,162,865Liabilities 2020: $1,875Net Assets 2020: $32,160,9902020Assets 2021: $40,485,942Liabilities 2021: $0Net Assets 2021: $40,485,9422021Assets 2022: $37,739,378Liabilities 2022: $750Net Assets 2022: $37,738,6282022Assets 2023: $39,735,944Liabilities 2023: $375Net Assets 2023: $39,735,5692023Assets 2024: $39,705,307Liabilities 2024: $2,250Net Assets 2024: $39,703,0572024Assets 2025: $40,903,355Liabilities 2025: $0Net Assets 2025: $40,903,3552025

Highlighted filing

2015

Assets$31,179,029
Liabilities$581,325
Net Assets$30,597,704
Open 2015 Filing

Operations Trend

Revenue Growth68th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0Expenses 2011: $466,7192011Revenue 2012: $968,319Expenses 2012: $577,312Net Income 2012: $391,0072012Expenses 2013: $691,3402013Revenue 2014: $1,167,684Expenses 2014: $666,513Net Income 2014: $501,1712014Revenue 2015: $1,294,511Expenses 2015: $595,170Net Income 2015: $699,3412015Revenue 2016: $1,106,103Expenses 2016: $618,176Net Income 2016: $487,9272016Revenue 2017: $1,165,042Expenses 2017: $680,813Net Income 2017: $484,2292017Revenue 2018: $1,833,201Expenses 2018: $856,065Net Income 2018: $977,1362018Revenue 2019: $1,571,601Expenses 2019: $696,340Net Income 2019: $875,2612019Revenue 2020: $5,021,578Expenses 2020: $509,434Net Income 2020: $4,512,1442020Revenue 2021: $1,361,588Expenses 2021: $528,130Net Income 2021: $833,4582021Revenue 2022: $1,862,925Expenses 2022: $845,927Net Income 2022: $1,016,9982022Revenue 2023: $1,930,174Expenses 2023: $804,676Net Income 2023: $1,125,4982023Revenue 2024: $1,883,987Expenses 2024: $1,568,344Net Income 2024: $315,6432024Revenue 2025: $1,808,110Expenses 2025: $1,683,685Net Income 2025: $124,4252025

Highlighted filing

2015

Revenue$1,294,511
Expenses$595,170
Net Income$699,341
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
May 1, 2014 to Apr 30, 2015
Signed
Nov 19, 2015
Return Version
2014v5.0
Gross Receipts
$1,349,247
Mission and Program Overview

Mission

See schedule othe primary purpose of the foundation is to provide funds to support the charitable, scientific, educational, literary and/or religious purposes of the catholic university of america and to award scholarships to students from the albany diocese of the roman catholic church who are attending the catholic university of america.

The primary purpose of the Foundation is to provide funds to support the charitable, scientific, educational, literary and/or religious purpose of The Catholic University of America and to award scholarships to students attending The Catholic University of America with preference being given the following order: 1. Students from Otsego County, New York; 2. Students from Delaware County, New York; and 3. Students from any other part of the Albany Diocese of the Roman Catholic Church.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$20,123,252$21,156,005▲ $1,032,753
Investments in Publicly Traded Securities$10,581,782$9,776,494▼ $805,288
Cash and Non-Interest-Bearing Accounts$403,959$246,530▼ $157,429
Total Assets$31,108,993$31,179,029▲ $70,036
Liabilities
Accounts Payable and Accrued Expenses$645,000$581,325▼ $63,675
Other Liabilities$0$0→ $0
Total Liabilities$645,000$581,325▼ $63,675
Net Assets / Fund Balance
Unrestricted Net Assets$30,463,993$30,597,704▲ $133,711
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$30,463,993$30,597,704▲ $133,711
Total Liabilities and Net Assets / Fund Balance$31,108,993$31,179,029▲ $70,036

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$21,156,005--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$20,123,252$0▲ $1,032,753$0$21,156,005
2013$18,362,347$0▲ $1,760,905$0$20,123,252
2012$16,599,834$0▲ $1,762,513$0$18,362,347
2011$16,261,353$0▲ $338,481$0$16,599,834
2010$13,559,329$0▲ $2,702,024$0$16,261,353
Compensation and Service Providers
Top Officer Pay86th percentile

Board Members and Trustees

NameTitle
John H GarveyEx-Officio Director/President
Robert MoyerElected Director
W Michael HendricksEx-Officio Director
James BrennanEx-Officio Director Resigned 9/23/14
Cathy R WoodEx-Officio Director/Treasurer
Rev Mark M MorozowichEx-Officio Dir- Effective 9/24/14
Lawrence J MorrisSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$1,294,511
Other Revenue
$0
All Other Contributions
$0
Change in Net Assets
$699,341

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,278,241
Revenue Not Reported on Financial Statements
$16,270
Revenue Not Reported on Form 990
$-1,141,230
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$137,011
Total Revenue per Form 990
$1,294,511
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$575,600
Other Expenses$19,570
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$575,600--$575,600
Fees for Service Investment Mgmnt Fees-$16,270-$16,270
Fees for Services Accounting-$2,550-$2,550
Other Expenses$0$750$0$750
Total Functional Expenses$575,600$19,570$0$595,170

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$595,170
Expenses Not Reported on Financial Statements$591,870
Other Expense Adjustments$575,600
Expenses per Audited Statements$3,300
Total Expenses per Audited Statements$3,300
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Certain officers are also officers of The Catholic University of America and The Catholic University of America Foundation.”

Form 990, Part VI, Section B, Line 11B

“The Form 990 was sent to the full Board of Trustees prior to filing for review. The Trustees were given the opportunity to review the document and address comments or questions to management.”

Form 990, Part VI, Section B, Line 12C

“A & A Farone Foundation operates by The Catholic University of America's standards with respect to the conflict of interest policies. The Catholic University of America's (an affiliated organization) Compliance Officer reviews the conflict of interest statements submitted by the Board members to determine whether any material financial interests have been disclosed. Any such interests would be investigated by the university's Audit Committee. There is no faculty or staff, and the transactions of the Foundation are limited to a very few defined types of activities.”

Form 990, Part VI, Section B, Line 13

“A & A Farone Foundation operates by The Catholic University of America's standards with respect to the whistle blower policies.”

Form 990, Part VI, Section B, Line 14

“A & A Farone Foundation operates by The Catholic University of America's standards with respect to the document retention and destruction policies.”

Form 990, Part VI, Section C, Line 19

“The conflict of interest policy and consolidated audited financial statements are posted on the University website. The Foundation's governing documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Albert E Farone & Angela T Farone Foundation
EIN
16-0911612
Phone
2023195606
Address
Cardinal Station 620 Michigan Ave, Washington, DC 20064

Signing Officer

Name
Robert M Specter
Title
Interim VP Finance/Treasurer
Phone
2023195606
Signed
2015-11-19

Organization Details

Principal Officer
Robert M Specter
Formed
1965
Legal Domicile
Ny
Voting Board Members
5
Independent Board Members
1
Employees
0
Volunteers
1
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 5

“The net assets changes by $565,630 in unrealized loss.”

Financial Statement Notes

Schedule D, Part V, Line 4

“Farone Foundation's endowment funds are used to support purposes of The Catholic University of America and to fund scholarships, in accordance with the donor's request.”

Schedule D, Part X, Line 2

“in consideration of accounting standards related to income taxes, the University concluded there were no open positions that result in material unrecognized tax benefits or which may have any effect on its tax-exempt status as of April 30, 2015.”

Schedule D, Part XI, Line 2D

“Grants and Other Assistance to individuals -$575,600.”

Schedule D, Part XII, Line 4B

“Grants and Other Assistance to individuals $575,600.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0501171
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0666513
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01167684
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0699341
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RelatedOrganizationsAmt00
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd01
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt00
IRS990/RoyaltiesRevenueGrp/ExclusionAmt00
IRS990/RoyaltiesRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RoyaltiesRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd01
IRS990ScheduleA/IRSWrittenDeterminationInd0X
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0530196583
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeDesc02
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt0575600
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0Catholic University of America
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt0575600
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BoardDesignatedBalanceEOYPct01
IRS990ScheduleD/CYEndwmtFundGrp/AdministrativeExpensesAmt00
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt020123252
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt00
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt021156005
IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt00
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt01032753
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt00
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/AdministrativeExpensesAmt00
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt018362347
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt00
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt020123252
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/GrantsOrScholarshipsAmt00
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt01760905
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt00
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/AdministrativeExpensesAmt00
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt016599834
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt00
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt018362347
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/GrantsOrScholarshipsAmt00
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt01762513
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/OtherExpendituresAmt00
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/AdministrativeExpensesAmt00
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt016261353
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt00
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt016599834
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/GrantsOrScholarshipsAmt00
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0338481
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/OtherExpendituresAmt00
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/AdministrativeExpensesAmt00
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt013559329
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt00
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt016261353
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/GrantsOrScholarshipsAmt00
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt02702024
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/OtherExpendituresAmt00
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt00
IRS990ScheduleD/DonatedServicesUseFcltsAmt00
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0591870
IRS990ScheduleD/ExpensesSubtotalAmt03300
IRS990ScheduleD/FederalIncomeTaxLiabilityAmt00
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InvestmentExpensesNotIncld2Amt016270
IRS990ScheduleD/InvestmentExpensesNotIncldAmt016270
IRS990ScheduleD/LossesReportedAmt00
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0-565630
IRS990ScheduleD/OtherExpensesIncludedAmt00
IRS990ScheduleD/OtherExpensesNotIncludedAmt0575600
IRS990ScheduleD/OtherRevenueAmt0-575600
IRS990ScheduleD/OtherRevenuesNotIncludedAmt00
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt021156005
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Catholic University Endowment Pool
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
IRS990ScheduleD/PriorYearAdjustmentsAmt00
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00
IRS990ScheduleD/RecoveriesPriorYearGrantsAmt00
IRS990ScheduleD/RevenueNotReportedAmt0-1141230
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt016270
IRS990ScheduleD/RevenueSubtotalAmt01278241
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Farone Foundation's endowment funds are used to support purposes of The Catholic University of America and to fund scholarships, in accordance with the donor's request.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1in consideration of accounting standards related to income taxes, the University concluded there were no open positions that result in material unrecognized tax benefits or which may have any effect on its tax-exempt status as of April 30, 2015.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2Grants and Other Assistance to individuals -$575,600.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3Grants and Other Assistance to individuals $575,600.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule D, Part V, Line 4
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule D, Part X, Line 2
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule D, Part XI, Line 2d
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3Schedule D, Part XII, Line 4b
IRS990ScheduleD/TermEndowmentBalanceEOYPct00
IRS990ScheduleD/TotalBookValueSecuritiesAmt021156005
IRS990ScheduleD/TotalExpensesPerForm990Amt0595170
IRS990ScheduleD/TotalLiabilityAmt00
IRS990ScheduleD/TotalRevenuePerForm990Amt01294511
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0137011
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03300
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0575600
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0Farone Foundation Scholarships
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceAmt00
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt036
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0All scholarships are offered based on manual and /or electric verification of eligibility criteria. The system disbursement of the scholarships to the students' accounts occurs only after global and item type specific disbursement eligibility rules are are met. Upon disbursement, payment allocation rules in the system allocate scholarships to appropriate predefined charges. After disbursement, audits are done at various time intervals to determine continued eligibility.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule I, Part I, Line 2
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt40
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt50
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt60
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount40
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount50
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount60
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt40
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt525000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt60
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0446609
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt2293056
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt3316511
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt452379

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$31,179,029
Liabilities
$581,325
Net assets
$30,597,704
Revenue
$1,294,511
Expenses
$595,170
Net income
$699,341
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$40.9$0.00$40.9$1.81$1.68$0.12
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$39.7$0.00$39.7$1.88$1.57$0.32
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$39.7$0.00$39.7$1.93$0.80$1.13
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$37.7$0.00$37.7$1.86$0.85$1.02
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$40.5$0.00$40.5$1.36$0.53$0.83
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$32.2$0.00$32.2$5.02$0.51$4.51
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$33.4$0.00$33.4$1.57$0.70$0.88
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$30.9$0.83$30.1$1.83$0.86$0.98
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$29.9$0.66$29.2$1.17$0.68$0.48
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$32.3$0.60$31.7$1.11$0.62$0.49
2015Detailed filing. Detailed filing data is available for this year.$31.2$0.58$30.6$1.29$0.60$0.70
2014Detailed filing. Detailed filing data is available for this year.$31.1$0.65$30.5$1.17$0.67$0.50
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.3$0.68$26.6$0.69
2012Summary only. Only limited summary data is available for this year.$25.6$0.57$25.1$0.97$0.58$0.39
2011XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$24.3$0.45$23.9$0.47