Civic Intelligence

The Ferrari Foundation

990 • Fiscal year 2023 • EIN 92-2206921

Feb 07, 2023 to Dec 31, 2023 • Filed on May 13, 2025

Organization ProfileN/A
250 Sylvan AvenueEnglewood Cliffs, NJ 07632

(201) 816-2713

Siviq Scores

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

Liabilities / Assets

95th percentile

0.15x

Higher debt load relative to assets than 95% of similar nonprofits.

2023 filings • NTEE T20 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

91st percentile

0.13x

Higher debt load relative to revenue than 91% of similar nonprofits.

2023 filings • NTEE T20 • $10M-$25M nonprofits • Source year 2023

Net Margin

77th percentile

72%

Higher net margin than 77% of similar nonprofits.

2023 filings • NTEE T20 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

70th percentile

$0

Higher top officer pay than 70% of similar nonprofits.

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

2023 filings • NTEE T20 • $10M-$25M nonprofits • Source year 2023

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2023

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2023

Balance Sheet
Liabilities / Assets95th percentile

Assets

$8,283,767

No earlier filing loaded for comparison.

Net Assets

$7,001,496

No earlier filing loaded for comparison.

Liabilities

$1,282,271

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin77th percentile

Revenue

$9,693,202

No earlier filing loaded for comparison.

Expenses

$2,691,706

No earlier filing loaded for comparison.

Net Income

$7,001,496

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$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

2023

Assets$8,283,767
Liabilities$1,282,271
Net Assets$7,001,496
Open 2023 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this 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

2023

Revenue$9,693,202
Expenses$2,691,706
Net Income$7,001,496
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Feb 7, 2023 to Dec 31, 2023
Signed
May 13, 2025
Return Version
2023v6.0
Gross Receipts
$10,384,547
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$0$8,283,767▲ $8,283,767
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$0$8,283,767▲ $8,283,767
Other Assets Total$0$0→ $0
Liabilities
Grants Payable$0$1,273,483▲ $1,273,483
Accounts Payable and Accrued Expenses$0$8,788▲ $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$0$1,282,271▲ $1,282,271
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$0$7,001,496▲ $7,001,496
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$0$7,001,496▲ $7,001,496
Total Liabilities and Net Assets / Fund Balance$0$8,283,767▲ $8,283,767
Compensation and Service Providers
Top Officer Pay70th 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
$9,653,924
Program Service Revenue
$0
Investment Income
$39,278
Other Revenue
$0
All Other Contributions
$9,653,924
Change in Net Assets
$7,001,496

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded2$691,848Fair Market Value (FMV)
Total Noncash Contributions2$691,848-

Audited Revenue Reconciliation

Revenue per Audited Statements
$9,693,202
Total Revenue per Audited Statements
$9,693,202
Total Revenue per Form 990
$9,693,202
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$2,682,076
Other Expenses$9,630
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Foreign Grants$2,182,076--$2,182,076
Grants to Domestic Orgs$500,000--$500,000
Other Expenses-$8,788-$8,788
Fees for Service Investment Mgmnt Fees-$842$0$842
Total Functional Expenses$2,682,076$9,630$0$2,691,706

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,691,706
Total Expenses per Audited Statements$2,691,706
Total Expenses per Form 990$2,691,706
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Social Impact FundLos Angeles, CA501(c)(3)General Support$500,000

International Summary

Offices
0
Employees
0
Spending
$2,182,076

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$1,273,483
Middle East and North AfricaGrantmaking-00$908,593
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 and can be found on the state charitable registration websites the Foundation is registered with.”

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
6
Independent Board Members
6
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

Additional Explanations

Form 990

“The ferrari foundation originally received tax-exemption under 501(c)(3) as a private foundation, subsquentally, they become a publicly supported organization under irc sections 509(a)(1) and 170(b)(1)(a)(vi) from thier date of inception.”

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, 2023 there are no uncertain positions that are material to the financial statements.”

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IRS990/ProgSrvcAccomActy2Grp/Desc0The Foundation provided support for the importance of a pre-school education in Morocco by financing research grants, production of tales and stories tailored to each age group, and financing of reading corners.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0908593
IRS990/ProgSrvcAccomActy2Grp/GrantAmt0908593
IRS990/ProgSrvcAccomActy3Grp/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/ProgSrvcAccomActy3Grp/ExpenseAmt01273483
IRS990/ProgSrvcAccomActy3Grp/GrantAmt01273483
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt00
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt00
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt00
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt00
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt00
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt07001496
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/BOYAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt08283767
IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt09653924
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt09653924
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt035240
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt035240
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportTotal170Amt03470638
IRS990ScheduleA/SubstantialContributorsTotAmt06183286
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt09653924
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt09653924
IRS990ScheduleA/TotalSupportAmt09689164
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/ExpensesSubtotalAmt02691706
IRS990ScheduleD/FederalIncomeTaxLiabilityAmt00
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/RevenueSubtotalAmt09693202
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, 2023 THERE ARE NO UNCERTAIN POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part XI, Line 2
IRS990ScheduleD/TotalExpensesPerForm990Amt02691706
IRS990ScheduleD/TotalLiabilityAmt00
IRS990ScheduleD/TotalRevenuePerForm990Amt09693202
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt09693202
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02691706
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt00
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt10
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt00
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt10
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt0908593
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt11273483
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0Middle East and North Africa
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt1Europe (Including Iceland and Greenland)
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt0Grantmaking
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt1Grantmaking
IRS990ScheduleF/BoycottCountriesInd0false
IRS990ScheduleF/ForeignCorpOwnershipInd0false
IRS990ScheduleF/ForeignPartnershipInd0false
IRS990ScheduleF/GrantRecordsMaintainedInd0true
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/CashGrantAmt0908593
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/CashGrantAmt11273483
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/MannerOfCashDisbursementTxt0WIRE
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/MannerOfCashDisbursementTxt1wire
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt0SUPPORT FOR STRENGTHENING THE EDUCATIONAL AND MANAGEMENT CAPACITIES OF ITS PRESCHOOL EDUCATION.
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt1Education
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/RegionTxt0Middle East and North Africa
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/RegionTxt1Europe (Including Iceland and Greenland)
IRS990ScheduleF/InterestInForeignTrustInd0false
IRS990ScheduleF/PassiveForeignInvestmestCoInd0false
IRS990ScheduleF/SubtotalEmployeesCnt00
IRS990ScheduleF/SubtotalOfficesCnt00
IRS990ScheduleF/SubtotalSpentAmt02182076
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/Total501c3OrgCnt02
IRS990ScheduleF/TotalEmployeeCnt00
IRS990ScheduleF/TotalOfficeCnt00
IRS990ScheduleF/TotalOtherOrgCnt00
IRS990ScheduleF/TotalSpentAmt02182076
IRS990ScheduleF/TransferToForeignCorpInd0false
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/RecipientTable/CashGrantAmt0500000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(c)(3)
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0GENERAL SUPPORT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Social Impact Fund
IRS990ScheduleI/RecipientTable/RecipientEIN0461820448
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0750 W 7TH STREET
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Los Angeles
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0CA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd090048
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
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd0false
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd0false
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/ContributionCnt02
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/MethodOfDeterminingRevenuesTxt0fmv
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/NonCashCheckboxInd0X
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/NoncashContributionsRptF990Amt0691848
IRS990ScheduleM/ThirdPartiesUsedInd0false
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 and can be found on the state charitable registration websites the Foundation is registered with.

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,283,767
Liabilities
$1,282,271
Net assets
$7,001,496
Revenue
$9,693,202
Expenses
$2,691,706
Net income
$7,001,496
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