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Nonprofiteer
← FERRARI OWNERS CHARITABLE FOUNDATION

Form 990 for tax year 2024

Filed by FERRARI OWNERS CHARITABLE FOUNDATION.

Totals

Total revenue
$468,755
Total expenses
$480,921
Contributions and grants received
$468,755
Grants paid
$84,000
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$101,994
Total liabilities, end of year
$4,943
Net assets or fund balances, end of year
$97,051
Program services expenses (Part IX)
$420,837
Management and general expenses
$55,084
Fundraising expenses
$5,000
Program service expenses (Part III)
$420,837

Program services were 87.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1a · Federated campaigns

    $468,755

  • 1g · Noncash contributions included above

    $82,500

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $84,000 · program services $84,000

  • 11c · Fees: accounting

    total $28,800 · program services $28,800

  • 11g · Fees: other

    total $83,363 · program services $50,363 · management and general $33,000

  • 12 · Advertising and promotion

    total $6,000 · program services $6,000

  • 13 · Office expenses

    total $36,035 · program services $31,498 · management and general $4,537

  • 17 · Travel

    total $3,558 · program services $3,558

  • 19 · Conferences, conventions and meetings

    total $10,310 · program services $10,310

  • 23 · Insurance

    total $7,348 · program services $3,990 · management and general $3,358

  • 24a · Other expenses: MEALS

    total $127,252 · program services $127,252

  • 24b · Other expenses: EVENTS

    total $73,024 · program services $68,024 · fundraising $5,000

  • 24c · Other expenses: PROFESSIONAL SERVICES

    total $9,536 · program services $3,536 · management and general $6,000

  • 24d · Other expenses: BANK & CREDIT CARD FEES

    total $7,726 · management and general $7,726

  • 24e · All other expenses

    total $3,969 · program services $3,506 · management and general $463

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $99,389 · end of year $83,043

  • 2 · Savings and temporary cash investments

    beginning of year $7,738 · end of year $5,342

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,763 · end of year $13,609

  • 15 · Other assets

    beginning of year $53

  • 17 · Accounts payable and accrued expenses

    beginning of year $726 · end of year $4,943

  • 31 · Retained earnings, endowment or other funds

    beginning of year $109,217 · end of year $97,051

Mission and programs · 2024

Mission

FOCF IS OPERATED ENTIRELY BY AN UNPAID, VOLUNTEER BOARD; WE HAVE NO SALARIED STAFF, AND OUR OPERATING EXPENSES RELATE DIRECTLY TO THE FOG RALLY AND ITS FUNDRAISING ACTIVITIES. EACH YEAR, THE ORGANIZATION CONDUCTS AN ANNUAL CHARITY CAR RALLY, AND AFTER COVERING EVENT COSTS FROM RALLY REVENUES AND SPONSORSHIPS, NET PROCEEDS ARE DONATED TO YOUTH-FOCUSED CHARITIES RECOMMENDED BY PARTICIPANTS AND APPROVED ANNUALLY BY THE BOARD OF DIRECTORS.

Activities or mission (Part I)

FOCF IS OPERATED ENTIRELY BY AN UNPAID, VOLUNTEER BOARD WITH NO SALARIED STAFF; OUR OPERATING EXPENSES RELATE DIRECTLY TO THE FOG RALLY AND ITS FUNDRAISING ACTIVITIES. AFTER COVERING EVENT COSTS, NET PROCEEDS FROM THE ANNUAL CHARITY RALLY ARE DONATED TO YOUTH-FOCUSED CHARITIES RECOMMENDED BY PARTICIPANTS AND APPROVED EACH YEAR BY THE BOARD.

  • IN 2024, THE FOG RALLY JOINTLY BENEFITED MAKE-A-WISH FOUNDATION AND THE FERRARI OWNERS CHARITABLE FOUNDATION (FOCF) FUND FOR KIDS. THIS YEAR MARKED THE ELEVENTH CONSECUTIVE YEAR OF OUR PARTNERSHIP WITH MAKE-A-WISH AND THE FIFTH YEAR OF THE FUND FOR KIDS. FUNDRAISING EFFORTS GENERATED 42,000 FOR MAKE-A-WISH, BRINGING FOCFS CUMULATIVE SUPPORT FOR MAKE-A-WISH TO MORE THAN 2,000,000 AND HELPING ENABLE OVER 200 WISHES FOR CHILDREN WITH CRITICAL ILLNESSES. IN ADDITION, THE 2024 FOG RALLY RAISED 42,000 FOR THE FOCF FUND FOR KIDS, BRINGING CUMULATIVE FUND FOR KIDS SUPPORT TO OVER 400,000. THESE DOLLARS ARE DISTRIBUTED AS GRANTS TO YOUTH-SERVING ORGANIZATIONS IN THE BAY AREA, EXPANDING ACCESS TO EDUCATION, LITERACY, AND BASIC RESOURCES FOR DISADVANTAGED CHILDREN. IN 2024, FOG RALLY RAISED 84,000 IN CASH GRANTS AND APPROX. 82,500 IN IN-KIND CONTRIBUTIONS (AUCTION ITEMS, EXPERIENCES, AND SERVICES). NET PROCEEDS FUNDED MAKE-A-WISH (11TH CONSECUTIVE YEAR) AND OUR FOCF FUND FOR KIDS, PROVIDING GRANTS TO SIX ADDITIONAL YOUTH-SERVING NONPROFITS.

    Expenses $420,837 · Grants $84,000 · Revenue $468,755

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Anthony Abdulmassih

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Konstantina Chilingirova

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Chris Dolan

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Anthy Donati

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Lance Dublin

    PRESIDENT &

    Total calculated
    $0
    Hours/week
    1

  • Len Ely

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Damon Focaracci

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Melissa Forgan

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jeffrey Petereson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Darren Stoll

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jonathan Whitehead

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

Provenance

Return type
form_990
Tax year
2024
Filed
30 July 2026
IRS schema version
2024v5.0
Source object
202602119349301815

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