Civic Intelligence

The Ferrari Foundation

EIN 92-2206921 • 501(c)3 • Englewood Cliffs, NJ

Profile

The Ferrari Foundation believes that education is the key to opportunity. Our primary mission is to help improve access to learning opportunities for children. We aim to serve the non-profit educational community by funding and supporting important initiatives.

250 Sylvan AvenueEnglewood Cliffs, NJ 07632

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

81st percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

NTEE T20 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

82nd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

NTEE T20 • $5M-$10M nonprofits • Source year 2024

Net Margin

79th percentile

70%

Higher net margin than 79% of similar nonprofits.

NTEE T20 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

73rd percentile

$0

Higher top officer pay than 73% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

NTEE T20 • $5M-$10M nonprofits • Source year 2024

Asset Growth

39th percentile

-0.1%

Faster asset growth than 39% of similar nonprofits.

NTEE T20 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

9th percentile

-81%

Faster revenue growth than 9% of similar nonprofits.

NTEE T20 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets81st percentile

Assets

Down

$8,279,221

Down $4,546 (-0.1%) from 2023

Liabilities

Down

$0

Down $1,282,271 (-100%) from 2023

Net Assets

Up

$8,279,221

Up $1,277,725 (+18%) from 2023

Operations
Liabilities / Revenue82nd percentileNet Margin79th percentile

Revenue

Down

$1,835,511

Down $7,857,691 (-81%) from 2023

Expenses

Down

$557,786

Down $2,133,920 (-79%) from 2023

Net Income

Down

$1,277,725

Down $5,723,771 (-82%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth39th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$10M$5.0M$0Assets 2023: $8,283,767Liabilities 2023: $1,282,271Net Assets 2023: $7,001,4962023Assets 2024: $8,279,221Liabilities 2024: $0Net Assets 2024: $8,279,2212024

Highlighted filing

2024

Assets$8,279,221
Liabilities$0
Net Assets$8,279,221
Open 2024 Filing

Operations Trend

Revenue Growth9th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$10M$5.0M$0Revenue 2023: $9,693,202Expenses 2023: $2,691,706Net Income 2023: $7,001,4962023Revenue 2024: $1,835,511Expenses 2024: $557,786Net Income 2024: $1,277,7252024

Highlighted filing

2024

Revenue$1,835,511
Expenses$557,786
Net Income$1,277,725
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,279,221
Liabilities
$0
Net assets
$8,279,221
Revenue
$1,835,511
Expenses
$557,786
Net income
$1,277,725
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$8.28$0.00$8.28$1.84$0.56$1.28
2023Detailed filing. Detailed filing data is available for this year.$8.28$1.28$7.00$9.69$2.69$7.00
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 13, 2025
Return Version
2024v5.1
Gross Receipts
$1,835,511
Mission and Program Overview

Mission

The ferrari foundation believes that education is the key to opportunity. Our primary mission is to help improve access to learning opportunities for children. We aim to serve the non-profit educational community by funding and supporting important initiatives.

The Ferrari Foundation believes that education is the key to opportunity. Our primary mission is to help improve access to learning opportunities for children.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$8,283,767$8,273,221▼ $10,546
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$8,283,767$8,279,221▼ $4,546
Other Assets Total$0$6,000▲ $6,000
Liabilities
Grants Payable$1,273,483$0▼ $1,273,483
Accounts Payable and Accrued Expenses$8,788$0▼ $8,788
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$1,282,271$0▼ $1,282,271
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$7,001,496$8,279,221▲ $1,277,725
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$7,001,496$8,279,221▲ $1,277,725
Total Liabilities and Net Assets / Fund Balance$8,283,767$8,279,221▼ $4,546
Compensation and Service Providers
Top Officer Pay73rd percentile

Board Members and Trustees

NameTitle
Matteo TorreChairman
Carlo DaneoBoard Member
Gianluca GuzzoBoard Member
Michele AntoniazziBoard Member
David WertheimManaging Director/secretary
Patrick GrangerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,461,709
Program Service Revenue
$0
Investment Income
$373,802
Other Revenue
$0
All Other Contributions
$1,461,709
Change in Net Assets
$1,277,725

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,835,511
Total Revenue per Audited Statements
$1,835,511
Total Revenue per Form 990
$1,835,511
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$512,500
Other Expenses$45,286
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Foreign Grants$262,500--$262,500
Grants to Domestic Orgs$250,000--$250,000
Fees for Services Accounting-$30,160$0$30,160
Fees for Service Investment Mgmnt Fees-$15,126-$15,126
Total Functional Expenses$512,500$45,286$0$557,786

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$557,786
Total Expenses per Audited Statements$557,786
Total Expenses per Form 990$557,786
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Save the Children Federation Inc USFairfield, CT501(c)(3)Educational Support$250,000

International Summary

Offices
0
Employees
0
Spending
$262,500

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Europe (Including Iceland and Greenland)Grantmaking-00$262,500
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI, Section A, Line 2:

“Carlo Daneo and Michele Antoniazzi have a business relationship through Ferrari S.P.A. Matteo Torre, Gianluca Guzzo, and David Wertheim have a business relationship through Ferrari N.A.”

Part VI, SECTION A, LINE 8B:

“No other committee exists with authority to act on behalf of the governing body.”

part VI, Section B, Line 11A:

“The foundation engaged with a certified public accounting firm, with expertise in tax-exempt organizations, to prepare their form 990 and a draft copy of the form 990 is provided to the managing director of the foundation and the managing director may consult with the treasurer and board members on the draft as needed. The managing director will then provide any comments for proposed revisions, and a final draft copy of the return is then provided to the managing director for approval and then a copy is forwarded to the cfo and controller of ferrari n.a. And upon approval, the return is filed with the internal revenue service.”

Part VI, Section B, Lines 12-14:

“The Foundation follows the policies of Ferrari Worldwide for Conflict of Interest and Whistleblower policies and follows the policy of Ferrari N.A. for document destruction and retention policy.”

Part VI, Section B, Line 19:

“The COI policy that the Foundation follows is available on the Ferrari worldwide website and the bylaws and articles are included with the Form 1023 application copy.”

Filing and Contact Details

Filer

Filer Name
The Ferrari Foundation
EIN
92-2206921
In Care Of
% DAVID WERTHEIM
Phone
2018162713
Address
250 Sylvan Avenue, Englewood Cliffs, NJ 07632

Signing Officer

Name
David Wertheim
Title
Managing Director
Phone
2018162713
Signed
2025-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Wertheim
Formed
2023
Legal Domicile
De
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
6

Preparer

Firm
Withumsmithbrownpc
Address
331 NEWMAN SPRINGS RD STE 125, RED BANK, NJ 07701-6765
Preparer
Richard Ruvelson
Phone
7328423113
Supplemental Narrative

Financial Statement Notes

Part XI, Line 2

“U.s. Gaap requires management to evauluate tax positions taken by the foundation and recognize a tax liability (or asset) if the foundation has taken an uncertain position that more likely than not would not be sustained upon examianation by the internal revenue service ("irs"). Management has analyzed the tax positions taken by the foundation and has concluded that as of december 31, 2024 and 2023, there are no uncertain positions that are material to the financial statements.”

Raw XML AppendixShowing 400 of 464 raw XML fields

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/ProfessionalFundraisingInd0false
IRS990/ProgSrvcAccomActy2Grp/Desc0The Foundation provided support for Save the Children Italia ETS exclusively for an educational and urban regeneration efforts for the children living in Province of Venice, Italy.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0262500
IRS990/ProgSrvcAccomActy2Grp/GrantAmt0262500
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt09653924
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt02682076
IRS990/PYInvestmentIncomeAmt039278
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt09630
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt07001496
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt02691706
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt09693202
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt00
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt01277725
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt08283767
IRS990/SavingsAndTempCashInvstGrp/EOYAmt08273221
IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt01461709
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt09653924
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt011115633
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0373802
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt035240
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0409042
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportTotal170Amt04376858
IRS990ScheduleA/SubstantialContributorsTotAmt06738775
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt01461709
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt09653924
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt011115633
IRS990ScheduleA/TotalSupportAmt011524675
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/ExpensesSubtotalAmt0557786
IRS990ScheduleD/FederalIncomeTaxLiabilityAmt00
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/RevenueSubtotalAmt01835511
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0U.S. GAAP REQUIRES MANAGEMENT TO EVAULUATE TAX POSITIONS TAKEN BY THE FOUNDATION AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE FOUNDATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMIANATION BY THE INTERNAL REVENUE SERVICE ("IRS"). MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE FOUNDATION AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2024 AND 2023, THERE ARE NO UNCERTAIN POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part XI, Line 2
IRS990ScheduleD/TotalExpensesPerForm990Amt0557786
IRS990ScheduleD/TotalLiabilityAmt00
IRS990ScheduleD/TotalRevenuePerForm990Amt01835511
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01835511
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0557786
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt00
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt00
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt0262500
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0Europe (Including Iceland and Greenland)
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt0Grantmaking
IRS990ScheduleF/BoycottCountriesInd0false
IRS990ScheduleF/ForeignCorpOwnershipInd0false
IRS990ScheduleF/ForeignPartnershipInd0false
IRS990ScheduleF/GrantRecordsMaintainedInd0true
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/CashGrantAmt0262500
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/MannerOfCashDisbursementTxt0wire
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt0General Support
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/RegionTxt0Europe (Including Iceland and Greenland)
IRS990ScheduleF/InterestInForeignTrustInd0false
IRS990ScheduleF/PassiveForeignInvestmestCoInd0false
IRS990ScheduleF/SubtotalEmployeesCnt00
IRS990ScheduleF/SubtotalOfficesCnt00
IRS990ScheduleF/SubtotalSpentAmt0262500
IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION ENTERS INTO A GRANT AGREEMENT THAT DEFINES THE TERMS OF THE GRANT PROVIDED TO THE GRANTEE ON WHAT THE GRANTED FUNDS CAN BE USED FOR BY THE GRANTEE AND TO PROVIDE A REPORT OR ANNUAL REPORTS IF THE GRANT AGREEMENT FOR THE USAGE OF THE FUNDING IS OVER TWO OR MORE YEARS TO ENSURE ITS COMPLIANCE PER THE TERMS OF THE SIGNED AGREEMENT.
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE F, PART I, LINE 2
IRS990ScheduleF/Total501c3OrgCnt01
IRS990ScheduleF/TotalEmployeeCnt00
IRS990ScheduleF/TotalOfficeCnt00
IRS990ScheduleF/TotalOtherOrgCnt00
IRS990ScheduleF/TotalSpentAmt0262500
IRS990ScheduleF/TransferToForeignCorpInd0false
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/RecipientTable/CashGrantAmt0250000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0EDUCATIONAL SUPPORT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Save the Children Federation Inc US
IRS990ScheduleI/RecipientTable/RecipientEIN0060726487
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0501 KINGS HWY EAST 400
IRS990ScheduleI/RecipientTable/USAddress/CityNm0FAIRFIELD
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0CT
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd006825
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION ENTERS INTO A GRANT AGREEMENT THAT DEFINES THE TERMS OF THE GRANT PROVIDED TO THE GRANTEE ON WHAT THE GRANTED FUNDS CAN BE USED FOR BY THE GRANTEE AND TO PROVIDE A REPORT OR ANNUAL REPORTS IF THE GRANT AGREEMENT FOR THE USAGE OF THE FUNDING IS OVER TWO OR MORE YEARS TO ENSURE ITS COMPLIANCE PER THE TERMS OF THE SIGNED AGREEMENT.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PART I, LINE 2
IRS990ScheduleI/Total501c3OrgCnt01
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Carlo Daneo and Michele Antoniazzi have a business relationship through Ferrari S.P.A. Matteo Torre, Gianluca Guzzo, and David Wertheim have a business relationship through Ferrari N.A.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No other committee exists with authority to act on behalf of the governing body.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FOUNDATION ENGAGED WITH A CERTIFIED PUBLIC ACCOUNTING FIRM, WITH EXPERTISE IN TAX-EXEMPT ORGANIZATIONS, TO PREPARE THEIR FORM 990 AND A DRAFT COPY OF THE FORM 990 IS PROVIDED TO THE MANAGING DIRECTOR OF THE FOUNDATION AND THE MANAGING DIRECTOR MAY CONSULT WITH THE TREASURER AND BOARD MEMBERS ON THE DRAFT AS NEEDED. THE MANAGING DIRECTOR WILL THEN PROVIDE ANY COMMENTS FOR PROPOSED REVISIONS, AND A FINAL DRAFT COPY OF THE RETURN IS THEN PROVIDED TO THE MANAGING DIRECTOR FOR APPROVAL AND THEN A COPY IS FORWARDED TO THE CFO AND CONTROLLER OF FERRARI N.A. AND UPON APPROVAL, THE RETURN IS FILED WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Foundation follows the policies of Ferrari Worldwide for Conflict of Interest and Whistleblower policies and follows the policy of Ferrari N.A. for document destruction and retention policy.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The COI policy that the Foundation follows is available on the Ferrari worldwide website and the bylaws and articles are included with the Form 1023 application copy.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Part VI, Section A, Line 2:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Part VI, SECTION A, LINE 8B:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2part vi, Section B, Line 11A:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Part VI, Section B, Lines 12-14:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Part VI, Section B, Line 19:
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/StatesWhereCopyOfReturnIsFldCd1NJ
IRS990/StatesWhereCopyOfReturnIsFldCd2NY
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt00
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt00
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt08283767
IRS990/TotalAssetsEOYAmt08279221
IRS990/TotalAssetsGrp/BOYAmt08283767
IRS990/TotalAssetsGrp/EOYAmt08279221
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01461709
IRS990/TotalEmployeeCnt00

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