Liabilities / Assets
9th percentile
Higher debt load relative to assets than 9% of similar nonprofits.
EIN 27-1020462 • 501(c)3 • West Palm Beach, FL
Profile
509(A)(3) supporting organization for the exclusive benefit of Vita Nova, Inc. (EIN# 65-0298299) whose mission is to help young adults transition to independence by providing a stable, nurturing environment that includes housing, counseling, and education.
Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.
Liabilities / Assets
9th percentile
Higher debt load relative to assets than 9% of similar nonprofits.
Liabilities / Revenue
13th percentile
Higher debt load relative to revenue than 13% of similar nonprofits.
Net Margin
7th percentile
Higher net margin than 7% of similar nonprofits.
Top Officer Pay
Score unavailable
No filing with officer rows is available for this organization yet.
Asset Growth
72nd percentile
Faster asset growth than 72% of similar nonprofits.
Revenue Growth
46th percentile
Faster revenue growth than 46% of similar nonprofits.
Assets
Up$6,131,424
Up $912,377 (+17%) from 2023
Liabilities
Down$779
Down $2,480 (-76%) from 2023
Net Assets
Up$6,130,645
Up $914,857 (+18%) from 2023
Revenue
Up$176,783
Up $16,103 (+10%) from 2023
Expenses
Up$258,480
Up $231,572 (+861%) from 2023
Net Income
Down-$81,697
Down $215,469 (-161%) from 2023
Most recent year
2024 • Form 990Detailed filing. Detailed filing data is available for this year.
509(A)(3) supporting organization for the exclusive benefit of Vita Nova, Inc. (EIN# 65-0298299) whose mission is to help young adults transition to independence by providing a stable, nurturing environment that includes housing, counseling, and education.
509(A)(3) supporting organization for the exclusive benefit of Vita Nova, Inc. (Continued on Schedule O)(EIN# 65-0298299) whose mission is to help young adults transition to independence by providing a stable, nurturing environment that includes housing, counseling, and education.
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Investments in Publicly Traded Securities | $5,219,047 | $6,131,424 | ▲ $912,377 |
| Total Assets | $5,219,047 | $6,131,424 | ▲ $912,377 |
| Liabilities | |||
| Accounts Payable and Accrued Expenses | $3,259 | $779 | ▼ $2,480 |
| Total Liabilities | $3,259 | $779 | ▼ $2,480 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | $5,215,788 | $6,130,645 | ▲ $914,857 |
| Total Net Assets Fund Balance | $5,215,788 | $6,130,645 | ▲ $914,857 |
| Total Liabilities and Net Assets / Fund Balance | $5,219,047 | $6,131,424 | ▲ $912,377 |
| Name | Title |
|---|---|
| Frank Gulisano | President |
| Alexandre Santos | Director |
| Anthony Marino Jr CPA | Director |
| Jose Coto | Director |
| Michael Branch | Director |
| Sarah McKnight | Director |
| Toby Pina | Director |
| Vassila Binensztok | Director |
| Line Item | Amount |
|---|---|
| Grants and Similar Amounts Paid | $228,000 |
| Other Expenses | $30,480 |
| Professional Fundraising Fees | $0 |
| Salaries, Compensation, and Employee Benefits | $0 |
| Total Fundraising Expense | $0 |
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Grants to Domestic Orgs | $228,000 | - | - | $228,000 |
| Fees for Service Investment Mgmnt Fees | - | $27,060 | - | $27,060 |
| Fees for Services Accounting | - | $3,000 | - | $3,000 |
| Office Expenses | - | $420 | - | $420 |
| Total Functional Expenses | $228,000 | $30,480 | $0 | $258,480 |
| Line Item | Amount |
|---|---|
| Total Expenses per Audited Statements | $4,157,570 |
| Expenses Not Reported on Form 990 | $3,926,150 |
| Total Expenses per Form 990 | $258,480 |
| Expenses per Audited Statements | $231,420 |
| Expenses Not Reported on Financial Statements | $27,060 |
| Other Expense Adjustments | $27,060 |
| Recipient | Location | Category | Purpose | Amount |
|---|---|---|---|---|
| Vita Nova Inc | West Palm Beach, FL | 501(c)(3) | Unrestricted grant | $228,000 |
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
“During the preparation of the 990, the finance sub-committee of the board of directors discussed components of the document at their regular meetings. Particular attention was paid to ascertaining that governance policies were in place and followed. The financial year which is being reported in the 990 was also discussed in detail. Board members also received a draft of the 990 for questions and comments. A copy of the final 990 was distributed to the board members prior to submission to the IRS.”
“Each year during the September meeting of the board of directors, each member is given the conflict of interest and asked to review it. They then sign a declaration that they agree to abide by its contents and declare any conflicts they have. If a conflict were to arise during the course of the year, the conflict of interest policy governs the procedures to be followed by the directors.”
“Although the Foundation does not have employees and therefore does not need a process for determining compensation, the compensation of officers and key employees of the supported organization involves an outside legal firm that is hired to make a comparative study for compensation levels for similar positions and organizations. The report is given to the that board of directors which discusses and documents the discussion and then sets compensation levels for its key employees.”
“Governing documents, conflict of interest policy and financial statements are made available to the public upon request and on the website. These documents are also reviewed annually by various bodies from which the Organization receives grants or has contracts.”
“The Audit Report is reviewed annually at the Audit Report review meeting as presented by the independent auditor. The process has not changed form the prior year.”
“The Organization is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code (IRC). The Organization has been classified as a publicly supported organization, which is not a private foundation under 509(a) of the Code. Income from certain activities not directly related to the Organization's tax-exempt purpose is subject to taxation as unrelated business income. Accordingly, there is no liability for income taxes reflected in these financial statements. The Organization follows FASB ASC 740-10, Accounting for Uncertainty in Income Taxes. This pronouncement seeks to reduce the diversity in practice associated with certain aspects of measurement and recognition in accounting for income taxes. It prescribes a recognition threshold and measurement attribute for financial statement recognition and measurement of a tax position that an entity takes or expects to take in a tax return. An entity may only recognize or continue to recognize tax positions that meet a "more likely than not" threshold. The Organization assesses its income tax positions based on management's evaluation of the facts, circumstances, and information available at the reporting date. The Organization uses the prescribed more likely than not threshold when making its assessment. There are currently no open federal or state tax years under audit.”
“Vita Nova, Inc. Revenue 3,902,323.”
“Investment Management Fee 27,060.”
“Vita Nova, Inc. Expenses 3,926,150.”
“Investment Management Fee 27,060.”
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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|---|---|---|
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| IRS990/AccountsPayableAccrExpnssGrp/EOYAmt | 0 | 779 |
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| IRS990/ActivityOrMissionDesc | 0 | 509(A)(3) supporting organization for the exclusive benefit of Vita Nova, Inc. (Continued on Schedule O)(EIN# 65-0298299) whose mission is to help young adults transition to independence by providing a stable, nurturing environment that includes housing, counseling, and education. |
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| IRS990/Desc | 0 | Vita Nova Foundation, Inc. is the supporting organization for Vita Nova, Inc. The mission of Vita Nova, Inc. is to help young adults transition to independence by providing a stable, nurturing environment that includes housing, counseling, and education. |
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| IRS990/FormationYr | 0 | 2009 |
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| IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt | 0 | 0 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt | 0 | 228000 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt | 0 | Vita Nova Inc |
| IRS990ScheduleA/SupportingOrganization509a3Ind | 0 | X |
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| IRS990ScheduleA/SupportSumAmt | 0 | 228000 |
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| IRS990ScheduleD/ExpensesNotReportedAmt | 0 | 3926150 |
| IRS990ScheduleD/ExpensesNotRptFinclStmtAmt | 0 | 27060 |
| IRS990ScheduleD/ExpensesSubtotalAmt | 0 | 231420 |
| IRS990ScheduleD/FootnoteTextInd | 0 | X |
| IRS990ScheduleD/NetUnrealizedGainsInvstAmt | 0 | 996554 |
| IRS990ScheduleD/OtherExpensesIncludedAmt | 0 | 3926150 |
| IRS990ScheduleD/OtherExpensesNotIncludedAmt | 0 | 27060 |
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| IRS990ScheduleD/RevenueNotReportedAmt | 0 | 4898877 |
| IRS990ScheduleD/RevenueNotReportedFinclStmtAmt | 0 | 27060 |
| IRS990ScheduleD/RevenueSubtotalAmt | 0 | 149723 |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | The Organization is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code (IRC). The Organization has been classified as a publicly supported organization, which is not a private foundation under 509(a) of the Code. Income from certain activities not directly related to the Organization's tax-exempt purpose is subject to taxation as unrelated business income. Accordingly, there is no liability for income taxes reflected in these financial statements. The Organization follows FASB ASC 740-10, Accounting for Uncertainty in Income Taxes. This pronouncement seeks to reduce the diversity in practice associated with certain aspects of measurement and recognition in accounting for income taxes. It prescribes a recognition threshold and measurement attribute for financial statement recognition and measurement of a tax position that an entity takes or expects to take in a tax return. An entity may only recognize or continue to recognize tax positions that meet a "more likely than not" threshold. The Organization assesses its income tax positions based on management's evaluation of the facts, circumstances, and information available at the reporting date. The Organization uses the prescribed more likely than not threshold when making its assessment. There are currently no open federal or state tax years under audit. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 1 | Vita Nova, Inc. Revenue 3,902,323. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 2 | Investment Management Fee 27,060. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 3 | Vita Nova, Inc. Expenses 3,926,150. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 4 | Investment Management Fee 27,060. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Part X, Line 2: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | Part XI, Line 2d - Other Adjustments: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | Part XI, Line 4b - Other Adjustments: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | Part XII, Line 2d - Other Adjustments: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | Part XII, Line 4b - Other Adjustments: |
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| IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt | 0 | 4157570 |
| IRS990ScheduleI/GrantRecordsMaintainedInd | 0 | 1 |
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| IRS990ScheduleI/RecipientTable/IRCSectionDesc | 0 | 501(c)(3) |
| IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt | 0 | 0 |
| IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt | 0 | Unrestricted grant |
| IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt | 0 | Vita Nova Inc |
| IRS990ScheduleI/RecipientTable/RecipientEIN | 0 | 650298299 |
| IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt | 0 | 2724 N Australian Ave |
| IRS990ScheduleI/RecipientTable/USAddress/CityNm | 0 | West Palm Beach |
| IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd | 0 | FL |
| IRS990ScheduleI/RecipientTable/USAddress/ZIPCd | 0 | 33407 |
| IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt | 0 | Grants are made only to the supported organization and are monitored by the board of directors. |
| IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Part I, Line 2: |
| IRS990/ScheduleJRequiredInd | 0 | 0 |
| IRS990/ScheduleORequiredInd | 0 | 1 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | During the preparation of the 990, the finance sub-committee of the board of directors discussed components of the document at their regular meetings. Particular attention was paid to ascertaining that governance policies were in place and followed. The financial year which is being reported in the 990 was also discussed in detail. Board members also received a draft of the 990 for questions and comments. A copy of the final 990 was distributed to the board members prior to submission to the IRS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | Each year during the September meeting of the board of directors, each member is given the conflict of interest and asked to review it. They then sign a declaration that they agree to abide by its contents and declare any conflicts they have. If a conflict were to arise during the course of the year, the conflict of interest policy governs the procedures to be followed by the directors. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | Although the Foundation does not have employees and therefore does not need a process for determining compensation, the compensation of officers and key employees of the supported organization involves an outside legal firm that is hired to make a comparative study for compensation levels for similar positions and organizations. The report is given to the that board of directors which discusses and documents the discussion and then sets compensation levels for its key employees. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | Governing documents, conflict of interest policy and financial statements are made available to the public upon request and on the website. These documents are also reviewed annually by various bodies from which the Organization receives grants or has contracts. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | The Audit Report is reviewed annually at the Audit Report review meeting as presented by the independent auditor. The process has not changed form the prior year. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Form 990, Part VI, Section B, line 11b |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | Form 990, Part VI, Section B, line 12c |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | Form 990, Part VI, Section B, line 15 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | Form 990, Part VI, Section C, line 19 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | 990 Page 12, Part XII, Line 2c |
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| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt | 0 | Helping young adults transition to adulthood. |
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| IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt | 0 | Cash transfer |
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| IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt | 0 | B |
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| IRS990/SubjectToExcsTaxNetInvstIncInd | 0 | 0 |
| IRS990/SubjectToProxyTaxInd | 0 | 0 |
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| IRS990/TaxablePartyNotificationInd | 0 | 0 |
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| IRS990/TotalAssetsEOYAmt | 0 | 6131424 |
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| IRS990/TotalAssetsGrp/EOYAmt | 0 | 6131424 |
| IRS990/TotalCompGreaterThan150KInd | 0 | 0 |
| IRS990/TotalEmployeeCnt | 0 | 0 |
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| IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt | 0 | 228000 |
| IRS990/TotalFunctionalExpensesGrp/TotalAmt | 0 | 258480 |
| IRS990/TotalGrossUBIAmt | 0 | 0 |
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| IRS990/TotalLiabilitiesEOYAmt | 0 | 779 |
| IRS990/TotalLiabilitiesGrp/BOYAmt | 0 | 3259 |
| IRS990/TotalLiabilitiesGrp/EOYAmt | 0 | 779 |
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| IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt | 0 | 6130645 |
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| IRS990/TrnsfrExmptNonChrtblRltdOrgInd | 0 | 0 |
| IRS990/TypeOfOrganizationCorpInd | 0 | X |
| IRS990/UnrelatedBusIncmOverLimitInd | 0 | 0 |
| IRS990/UponRequestInd | 0 | X |
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| IRS990/USAddress/CityNm | 0 | West Palm Beach |
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| IRS990/VotingMembersIndependentCnt | 0 | 8 |
| IRS990/WebsiteAddressTxt | 0 | www.vitanovainc.org |
| IRS990/WhistleblowerPolicyInd | 0 | 1 |
| ReturnHeader/BuildTS | 0 | 2025-03-06 01:10:19Z |
| ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd | 0 | 1 |
| ReturnHeader/BusinessOfficerGrp/PersonNm | 0 | Frank Gulisano |
| ReturnHeader/BusinessOfficerGrp/PersonTitleTxt | 0 | President |
| ReturnHeader/BusinessOfficerGrp/PhoneNum | 0 | 5616890035 |
| ReturnHeader/BusinessOfficerGrp/SignatureDt | 0 | 2025-07-06 |
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| ReturnHeader/IRSResponsiblePrtyInfoCurrInd | 0 | 0 |
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| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd | 0 | 33407 |
| ReturnHeader/PreparerPersonGrp/PhoneNum | 0 | 5616896000 |
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