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Nonprofiteer
← FERRO FOUNDATION INC

Form 990 for tax year 2022

Filed by FERRO FOUNDATION INC.

Totals

Total revenue
$142,328
Total expenses
$90,046
Contributions and grants received
$0
Grants paid
$84,750
Program service revenue
$0
Investment income
$0
Other revenue
$142,328
Total assets, end of year
$230,317
Total liabilities, end of year
$75
Net assets or fund balances, end of year
$230,242
Program services expenses (Part IX)
$84,750
Management and general expenses
$5,296
Fundraising expenses
$0
Program service expenses (Part III)
$84,750

Program services were 94.1% 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.

  • 8a · Fundraising events: gross income

    $242,164

  • 8b · Fundraising events: direct expenses

    $99,836

  • 8c · Net income from fundraising events

    total $142,328

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $84,750 · program services $84,750

  • 24a · Other expenses: ACCOUNTING FEES

    total $4,100 · management and general $4,100

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

    total $646 · management and general $646

  • 24c · Other expenses: OFFICE

    total $550 · management and general $550

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $174,035 · end of year $230,317

  • 4 · Accounts receivable

    beginning of year $4,000

  • 25 · Other liabilities

    beginning of year $75 · end of year $75

  • 27 · Net assets without donor restrictions

    beginning of year $177,960 · end of year $230,242

Mission and programs · 2022

Mission

TO PROVIDE COLLEGE SCHOLARSHIPS TO ENROLL FRESHMAN TOWARDS THEIR PURSUIT OF UNDERGRADUATE DEGREES. TO PROVIDE SUPPORT FOR THE LOCAL COMMUNITY.

  • TO PROVIDE COLLEGE SCHOLARSHIPS TO ENROLL FRESHMAN TOWARDS THEIR PURSUIT OF UNDERGRADUATE DEGREES. TO PROVIDE SUPPORT FOR THE LOCAL COMMUNITY.

    Expenses $84,750 · Grants $84,750

As filed on the 2022 return.

Listed in Part VII

  • Kris Amplo

    BOARD MEMBER

    Total calculated
    $0

  • Christopher Ferro

    BOARD MEMBER

    Total calculated
    $0

  • Joe Hatzfeld

    BOARD MEMBER

    Total calculated
    $0

  • Dr Henry Sikorski

    BOARD MEMBER

    Total calculated
    $0

  • Salvatore Ferro

    PRESIDENT

    Total calculated
    $0

  • Seth Selesnow

    TREASURER

    Total calculated
    $0

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
22 August 2023
IRS schema version
2022v5.0
Source object
202422579349300222

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