Farano Scholarship Tr

990PF • Fiscal year 2020 • EIN 82-6875780

Jan 01, 2020 to Dec 31, 2020 • Filed on Aug 03, 2021

Organization Profile

515 BroadwayAlbany, NY 12207

(518) 463-1177

Siviq Scores

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

0.00x

Higher debt load relative to assets than 79% of similar nonprofits.

2020 filings • NTEE T20 • $1M-$5M nonprofits • Source year 2020

0.00x

Higher debt load relative to revenue than 83% of similar nonprofits.

2020 filings • NTEE T20 • $1M-$5M nonprofits • Source year 2020

-87%

Higher net margin than 26% of similar nonprofits.

2020 filings • NTEE T20 • $1M-$5M nonprofits • Source year 2020

$17,541

Higher top officer pay than 88% of similar nonprofits.

Top officer pay equals 25.8% of source-year revenue.

2020 filings • NTEE T20 • $1M-$5M nonprofits • Source year 2020

10%

Faster asset growth than 76% of similar nonprofits.

2020 filings • NTEE T20 • $1M-$5M nonprofits • Annualized from 2019 to 2020

211%

Faster revenue growth than 88% of similar nonprofits.

2020 filings • NTEE T20 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet

Liabilities / Assets79th percentile

Assets

$1,769,328

Up $166,717 (+10%) from 2019

Net Assets

$1,769,328

Up $166,717 (+10%) from 2019

Liabilities

Down

Down $1 (-100%) from 2019

Revenue And Expenses

Liabilities / Revenue83rd percentile Net Margin26th percentile

Revenue

$68,103

Up $46,236 (+211%) from 2019

Expenses

$127,585

Up $34,024 (+36%) from 2019

Net Income

-$59,482

Up $12,212 (+17%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth76th percentile

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

Highlighted filing

2020

Assets$1,769,328

Liabilities$0

Net Assets$1,769,328

Open 2020 Filing

Operations Trend

Revenue Growth88th percentile

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

Highlighted filing

2020

Revenue$68,103

Expenses$127,585

Net Income-$59,482

Open 2020 Filing

Jump To

Filing Snapshot

Filing Period: Jan 1, 2020 to Dec 31, 2020
Signed: Aug 3, 2021
Return Version: 2020v4.1

Compensation and Service Providers

Top Officer Pay88th percentile

Employees

Name	Title	Full / Part Time	Base	Other	Total
MICHAEL FARANO	Trustee	-	$17,541	-	$17,541

Filing and Contact Details

Filer

Filer Name: Farano Scholarship Tr
EIN: 82-6875780
Phone: 5184631177
Address: 515 BROADWAY, ALBANY, NY 12207

Signing Officer

Name: Michael Costello
Title: Trustee
Phone: 5184631177
Signed: 2021-08-03
Discuss with paid preparer: Yes

Preparer

Firm: Teal Becker & Chiaramonte Cpas Pc
Address: 7 WASHINGTON SQUARE, ALBANY, NY 12205
Preparer: George N Cefferillo Jr CPA
Phone: 5184566663

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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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IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/GrantOrContributionPurposeTxt	5	SCHOLARSHIP
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/GrantOrContributionPurposeTxt	6	SCHOLARSHIP
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/GrantOrContributionPurposeTxt	7	SCHOLARSHIP
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/GrantOrContributionPurposeTxt	8	SCHOLARSHIP
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientBusinessName/BusinessNameLine1Txt	0	ROMAN CATHOLIC DIOCESE OF ALBANY
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientBusinessName/BusinessNameLine1Txt	1	SIENA COLLEGE
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientBusinessName/BusinessNameLine1Txt	2	BLESSED SACRAMENT SCHOOL
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientBusinessName/BusinessNameLine1Txt	3	SACRED HEART SCHOOL
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientBusinessName/BusinessNameLine1Txt	4	CATHOLIC CENTRAL HIGH SCHOOL
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientBusinessName/BusinessNameLine1Txt	5	BISHOP MAGINN HIGH SCHOOL
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientBusinessName/BusinessNameLine1Txt	6	ST MARY'SST ALPHONSUS REGIONAL SCHOOL
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientBusinessName/BusinessNameLine1Txt	7	SIENA COLLEGE
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientBusinessName/BusinessNameLine1Txt	8	BLESSED SACRAMENT SCHOOL
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientFoundationStatusTxt	0	N/A
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientFoundationStatusTxt	1	N/A
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientFoundationStatusTxt	2	N/A
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientFoundationStatusTxt	3	N/A
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientFoundationStatusTxt	4	N/A
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientFoundationStatusTxt	5	N/A
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientFoundationStatusTxt	6	N/A
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientFoundationStatusTxt	7	N/A
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientFoundationStatusTxt	8	N/A
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/AddressLine1Txt	0	40 NORTH MAIN AVE
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/AddressLine1Txt	1	515 LOUDON RD
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/AddressLine1Txt	2	607 CENTRAL AVE
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/AddressLine1Txt	3	310 SPRING AVE
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/AddressLine1Txt	4	625 SEVENTH AVE
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/AddressLine1Txt	5	75 PARK AVE
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/AddressLine1Txt	6	62 WARREN ST
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/AddressLine1Txt	7	515 LOUDON RD
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/AddressLine1Txt	8	607 CENTRAL AVE
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/CityNm	0	ALBANY
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/CityNm	1	LOUDONVILLE
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/CityNm	2	ALBANY
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/CityNm	3	TROY
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/CityNm	4	TROY
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/CityNm	5	ALBANY
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/CityNm	6	GLENS FALLS
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/CityNm	7	LOUDONVILLE
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/CityNm	8	ALBANY
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/StateAbbreviationCd	0	NY
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/StateAbbreviationCd	1	NY
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/StateAbbreviationCd	2	NY
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/StateAbbreviationCd	3	NY
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/StateAbbreviationCd	4	NY
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/StateAbbreviationCd	5	NY
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/StateAbbreviationCd	6	NY
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/StateAbbreviationCd	7	NY
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/StateAbbreviationCd	8	NY
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/ZIPCd	0	12203
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/ZIPCd	1	12211
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/ZIPCd	2	12206
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/ZIPCd	3	12180
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/ZIPCd	4	12182
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/ZIPCd	5	12202
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/ZIPCd	6	12801
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/ZIPCd	7	12211
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/ZIPCd	8	12206
IRS990PF/SupplementaryInformationGrp/OnlyContriToPreselectedInd	0	X
IRS990PF/SupplementaryInformationGrp/TotalGrantOrContriApprvFutAmt	0	0
IRS990PF/SupplementaryInformationGrp/TotalGrantOrContriPdDurYrAmt	0	75000
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/LoansOrLoanGuaranteesInd	0	0
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/PerformanceOfServicesEtcInd	0	0
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/PurchaseOfAssetsNonchrtblEOInd	0	0
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/ReimbursementArrangementsInd	0	0
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/RelationshipsNonchrtblEOInd	0	0
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/RentalOfFacilitiesOthAssetsInd	0	0
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/SalesOrExchangesOfAssetsInd	0	0
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/SharingOfFacilitiesEtcInd	0	0
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/TrnsfrOfCashToNonchrtblEOInd	0	0
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/TrnsfrOtherAssetNonchrtblEOInd	0	0
IRS990PF/UndistributedIncomeGrp/AppliedToCurrentYearAmt	0	2021
IRS990PF/UndistributedIncomeGrp/AppliedToPriorYearsAmt	0	0
IRS990PF/UndistributedIncomeGrp/AppliedToYear1Amt	0	72979
IRS990PF/UndistributedIncomeGrp/CorpusDistri170b1EOr4942g3Amt	0	0
IRS990PF/UndistributedIncomeGrp/DistributableAsAdjustedAmt	0	89732
IRS990PF/UndistributedIncomeGrp/ExcessDistributionCyovAppCYAmt	0	0
IRS990PF/UndistributedIncomeGrp/ExcessDistriCyovAppCYCorpusAmt	0	0
IRS990PF/UndistributedIncomeGrp/ExcessDistriCyovFromYr5Amt	0	0
IRS990PF/UndistributedIncomeGrp/ExcessDistriCyovToNextYrAmt	0	0
IRS990PF/UndistributedIncomeGrp/PriorYearDeficiencyOrTaxAmt	0	0
IRS990PF/UndistributedIncomeGrp/PriorYearUndistributedIncmAmt	0	0
IRS990PF/UndistributedIncomeGrp/QualifyingDistributionsAmt	0	75000
IRS990PF/UndistributedIncomeGrp/RemainingDistriFromCorpusAmt	0	0
IRS990PF/UndistributedIncomeGrp/Taxable1Amt	0	0
IRS990PF/UndistributedIncomeGrp/Taxable2Amt	0	0
IRS990PF/UndistributedIncomeGrp/TotalCorpusAmt	0	0
IRS990PF/UndistributedIncomeGrp/TotalExcessDistributionCyovAmt	0	0
IRS990PF/UndistributedIncomeGrp/TotalForPriorYearsAmt	0	0
IRS990PF/UndistributedIncomeGrp/TreatedAsDistriFromCorpusAmt	0	0
IRS990PF/UndistributedIncomeGrp/UndistributedIncomeCYAmt	0	87711
IRS990PF/UndistributedIncomeGrp/UndistributedIncomePYAmt	0	72979
OtherIncreasesSchedule/OtherIncreasesDetail/Amt	0	226199
OtherIncreasesSchedule/OtherIncreasesDetail/Desc	0	TRANSFER FROM CONCETTA FARANO LIVING TRUST
OtherProfessionalFeesSchedule/OtherProfessionalFeesDetail/AdjustedNetIncomeAmt	0	0
OtherProfessionalFeesSchedule/OtherProfessionalFeesDetail/Amt	0	18137
OtherProfessionalFeesSchedule/OtherProfessionalFeesDetail/CategoryTxt	0	INVESTMENT ADVISORY FEES
OtherProfessionalFeesSchedule/OtherProfessionalFeesDetail/DisbursementsCharitablePrpsAmt	0	0
OtherProfessionalFeesSchedule/OtherProfessionalFeesDetail/NetInvestmentIncomeAmt	0	18137
TaxesSchedule/TaxesDetail/AdjustedNetIncomeAmt	0	0
TaxesSchedule/TaxesDetail/AdjustedNetIncomeAmt	1	0
TaxesSchedule/TaxesDetail/Amt	0	93
TaxesSchedule/TaxesDetail/Amt	1	12179
TaxesSchedule/TaxesDetail/CategoryTxt	0	FOREIGN TAXES WITHHELD
TaxesSchedule/TaxesDetail/CategoryTxt	1	US INCOME TAX
TaxesSchedule/TaxesDetail/DisbursementsCharitablePrpsAmt	0	0
TaxesSchedule/TaxesDetail/DisbursementsCharitablePrpsAmt	1	0
TaxesSchedule/TaxesDetail/NetInvestmentIncomeAmt	0	93
TaxesSchedule/TaxesDetail/NetInvestmentIncomeAmt	1	12179
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd	0	AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd	0	IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd	0	2
ReturnHeader/BuildTS	0	2022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd	0	1
ReturnHeader/BusinessOfficerGrp/PersonNm	0	MICHAEL COSTELLO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt	0	TRUSTEE
ReturnHeader/BusinessOfficerGrp/PhoneNum	0	5184631177
ReturnHeader/BusinessOfficerGrp/SignatureDt	0	2021-08-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt	0	FARANO SCHOLARSHIP TR
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt	0	C/O TOBIN & DEMPF
ReturnHeader/Filer/BusinessNameControlTxt	0	FARA
ReturnHeader/Filer/EIN	0	826875780
ReturnHeader/Filer/PhoneNum	0	5184631177
ReturnHeader/Filer/USAddress/AddressLine1Txt	0	515 BROADWAY
ReturnHeader/Filer/USAddress/CityNm	0	ALBANY
ReturnHeader/Filer/USAddress/StateAbbreviationCd	0	NY
ReturnHeader/Filer/USAddress/ZIPCd	0	12207
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN	0	141624930
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt	0	TEAL BECKER & CHIARAMONTE CPAS PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt	0	7 WASHINGTON SQUARE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm	0	ALBANY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd	0	NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd	0	12205
ReturnHeader/PreparerPersonGrp/PhoneNum	0	5184566663
ReturnHeader/PreparerPersonGrp/PreparationDt	0	2021-08-03
ReturnHeader/PreparerPersonGrp/PreparerPersonNm	0	GEORGE N CEFFERILLO JR CPA
ReturnHeader/ReturnTs	0	2021-08-03T09:40:28-05:00
ReturnHeader/ReturnTypeCd	0	990PF
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm	0	MICHAEL
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm	0	COSTELLO
ReturnHeader/TaxPeriodBeginDt	0	2020-01-01
ReturnHeader/TaxPeriodEndDt	0	2020-12-31
ReturnHeader/TaxYr	0	2020

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990PFDetailed filing. Detailed filing data is available for this year.

Open filing

Assets: $1,769,328
Liabilities: $0
Net assets: $1,769,328
Revenue: $68,103
Expenses: $127,585
Net income: -$59,482

	Balance Sheet			Operations
Year	Assets	Liabilities	Net Assets	Revenue	Expenses	Net Income
2024Detailed filing. Detailed filing data is available for this year.	$1.57	$0.00	$1.57	$0.10	$0.14	$0.04
2023Detailed filing. Detailed filing data is available for this year.	$1.62	$0.00	$1.62	$0.10	$0.14	$0.04
2022Detailed filing. Detailed filing data is available for this year.	$1.65	$0.00	$1.65	$0.05	$0.14	$0.09
2021Detailed filing. Detailed filing data is available for this year.	$1.74	$0.00	$1.74	$0.09	$0.11	$0.03
2020Detailed filing. Detailed filing data is available for this year.	$1.77	$0.00	$1.77	$0.07	$0.13	$0.06
2019Detailed filing. Detailed filing data is available for this year.	$1.60	$0.00	$1.60	$0.02	$0.09	$0.07
2018Detailed filing. Detailed filing data is available for this year.	$1.68	$0.00	$1.68	$0.61	$0.01	$0.59