Form 990 for tax year 2023
Filed by FERRARI OWNERS CHARITABLE FOUNDATION.
Totals
- Total revenue
- $188,017
- Total expenses
- $191,432
- Contributions and grants received
- $364,790
- Grants paid
- $170,000
- Program service revenue
- $0
- Investment income
- $93
- Other revenue
- -$176,866
- Total assets, end of year
- $109,943
- Total liabilities, end of year
- $726
- Net assets or fund balances, end of year
- $109,217
- Program services expenses (Part IX)
- $170,000
- Management and general expenses
- $21,432
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $170,000
Program services were 88.8% 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.
-
1c · Fundraising events
$363,270
-
1f · All other contributions, gifts and grants
$1,520
-
1g · Noncash contributions included above
$77,692
-
3 · Investment income
total $93 · excluded $93
-
8a · Fundraising events: gross income
$183,625
-
8a · Fundraising events: contributions included on line 1c
$363,270
-
8b · Fundraising events: direct expenses
$360,491
-
8c · Net income from fundraising events
total -$176,866 · excluded -$176,866
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $170,000 · program services $170,000
-
11c · Fees: accounting
total $15,603 · management and general $15,603
-
17 · Travel
total $20 · management and general $20
-
23 · Insurance
total $1,810 · management and general $1,810
-
24a · Other expenses: Bank and Credit Card Fees
total $1,764 · management and general $1,764
-
24b · Other expenses: Dues and Subscriptions
total $216 · management and general $216
-
24c · Other expenses: Licenses and Fees
total $50 · management and general $50
-
24d · Other expenses: Postage and shipping
total $111 · management and general $111
-
24e · All other expenses
total $1,858 · management and general $1,858
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $71,752 · end of year $99,389
-
2 · Savings and temporary cash investments
beginning of year $37,646 · end of year $7,738
-
9 · Prepaid expenses and deferred charges
beginning of year $3,262 · end of year $2,763
-
15 · Other assets
beginning of year $15 · end of year $53
-
17 · Accounts payable and accrued expenses
beginning of year $45 · end of year $726
-
31 · Retained earnings, endowment or other funds
beginning of year $112,630 · end of year $109,217
Mission and programs · 2023
Mission
THE ORGANIZATION CONDUCTS AN ANNUAL CHARITY CAR RALLY. OPERATING EXPENSES ARE PAID FROM REVENUES; NET PROCEEDS ARE DONATED TO A CHARITY SELECTED ANNUALLY BY THE BOARD OF DIRECTORS.
-
FOG RALLY 2023 jointly benefited Make-A-Wish, marking the ninth consecutive year of our charity partnership and FOCFs Fund for Kids, marking the third year of our support. Through the Rally fundraising efforts $120,000 was donated to Make-A-Wish Greater Bay Area, bringing the Foundations total donation to Make-A-Wish to over $2.2M enabling over 230 wishes. This year included two special in-the-name-of donations for Joe Keon and the Dhani Family. In addition, through the Rally fundraising efforts $112,000 was donated to the Fund for Kids for grants to East Palo Kids Foundation (year 3), East Palo Alto Tennis & Tutoring (year 1), htmelle (year 3) , Project Night Night (year 2), SideBySIde (year 2), and Stanislaus Youth Center/Hutton House (year 1).
Expenses $170,000
As filed on the 2023 return.
Listed in Part VII
-
Konstantina ChilingirovaKONSTANTINA CHILINGIROVA
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Anthony AbdulmassihANTHONY ABDULMASSIH
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Anthy DonatiANTHY DONATI
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Carlos ForteCARLOS FORTE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Len ElyLEN ELY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Jeffrey PeteresonJEFFREY PETERESON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Michael BellMICHAEL BELL
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Damon FocaracciDAMON FOCARACCI
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Jonathan WhiteheadJONATHAN WHITEHEAD
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Chris DolanCHRIS DOLAN
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Lance DublinLANCE DUBLIN
PRESIDENT & CHAIRMAN
- 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
-
GENERAL OPERATIONS TO GRANT WISHES
-
East Palo Alto Tennis & Tutoring
$17,000
-
$17,000
GENERAL OPERATIONS TO HELP KIDS
-
$17,000
GENERAL OPERATIONS TO HELP KIDS
-
EAST PALO ALTO KIDS FOUNDATION
$17,000
GENERAL OPERATIONS TO HELP KIDS
-
$17,000
-
$17,000
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 13 October 2024
- IRS schema version
- 2023v5.1
- Source object
- 202403219349301000
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