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Nonprofiteer
← PETIT FAMILY FOUNDATION

Form 990 for tax year 2023

Filed by PETIT FAMILY FOUNDATION.

Totals

Total revenue
$976,441
Total expenses
$975,579
Contributions and grants received
$306,972
Grants paid
$774,004
Program service revenue
$0
Investment income
$619,282
Other revenue
$50,187
Total assets, end of year
$5,225,585
Total liabilities, end of year
$47,383
Net assets or fund balances, end of year
$5,178,202
Program services expenses (Part IX)
$802,951
Management and general expenses
$169,277
Fundraising expenses
$3,351
Program service expenses (Part III)
$802,951

Program services were 82.3% 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

    $41,100

  • 1f · All other contributions, gifts and grants

    $265,872

  • 3 · Investment income

    total $86,868 · excluded $86,868

  • 7a · Gross sales of assets other than inventory

    securities $1,393,377 · other assets $9,390

  • 7b · Less cost or other basis and sales expenses

    securities $870,353

  • 7c · Gain or loss

    securities $523,024 · other assets $9,390

  • 7d · Net gain or loss

    total $532,414 · related or exempt $523,024 · excluded $9,390

  • 8a · Fundraising events: gross income

    $171,912

  • 8a · Fundraising events: contributions included on line 1c

    $41,100

  • 8b · Fundraising events: direct expenses

    $125,040

  • 8c · Net income from fundraising events

    total $46,872

  • 11a · Other revenue: MICHAELA'S GARDEN PROJECT REV

    total $2,546 · related or exempt $2,546

  • 11b · Other revenue: MERCHANDISE REVENUE

    total $769 · related or exempt $769

  • 11e · Other revenue, total

    $3,315

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $753,004 · program services $753,004

  • 2 · Grants to domestic individuals

    total $21,000 · program services $21,000

  • 7 · Other salaries and wages

    total $54,148 · management and general $54,148

  • 10 · Payroll taxes

    total $4,664 · management and general $4,664

  • 11f · Fees: investment management

    total $43,326 · management and general $43,326

  • 11g · Fees: other

    total $12,469 · management and general $12,469

  • 12 · Advertising and promotion

    total $2,388 · management and general $2,388

  • 13 · Office expenses

    total $21,974 · management and general $21,974

  • 14 · Information technology

    total $15,764 · management and general $15,764

  • 16 · Occupancy

    total $6,900 · management and general $6,900

  • 22 · Depreciation, depletion and amortization

    total $786 · management and general $786

  • 23 · Insurance

    total $3,624 · management and general $3,624

  • 24a · Other expenses: MERCHANDISE EXPENSE

    total $26,744 · program services $26,744

  • 24b · Other expenses: SMALL FUNDRAISERS

    total $3,351 · fundraising $3,351

  • 24c · Other expenses: DUES AND MEMBERSHIPS

    total $2,515 · management and general $2,515

  • 24d · Other expenses: MICHAELA'S GARDEN PROJECT

    total $2,203 · program services $2,203

  • 24e · All other expenses

    total $719 · management and general $719

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $66,918 · end of year $129,350

  • 2 · Savings and temporary cash investments

    beginning of year $120,952 · end of year $308,750

  • 4 · Accounts receivable

    beginning of year $4,125 · end of year $2,525

  • 10a · Land, buildings and equipment: cost or other basis

    $23,839

  • 10b · Land, buildings and equipment: accumulated depreciation

    $22,989

  • 10c · Land, buildings and equipment, net

    beginning of year $1,636 · end of year $850

  • 11 · Investments: publicly traded securities

    beginning of year $4,667,862 · end of year $4,766,957

  • 15 · Other assets

    beginning of year $11,667 · end of year $17,153

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,620 · end of year $15,718

  • 19 · Deferred revenue

    beginning of year $37,902 · end of year $31,665

  • 27 · Net assets without donor restrictions

    beginning of year $4,073,495 · end of year $4,210,991

  • 28 · Net assets with donor restrictions

    beginning of year $754,143 · end of year $967,211

Mission and programs · 2023

Mission

THE PETIT FAMILY FOUNDATION HONORS THE MEMORIES OF JENNIFER HAWKE-PETIT, HAYLEY ELIZABETH PETIT, AND MICHAELA ROSE PETIT BY CONTINUING THE KINDNESS, IDEALISM AND ACTIVISM THAT DEFINED THEIR LIVES. THE FOUNDATION'S FUNDS ARE GIVEN TO FOSTER THE EDUCATION OF YOUNG PEOPLE, ESPECIALLY WOMEN IN THE SCIENCES; TO IMPROVE THE LIVES OF THOSE AFFECTED BY CHRONIC ILLNESS; AND TO SUPPORT EFFORTS TO PROTECT AND HELP THOSE AFFECTED BY VIOLENCE.

  • CONTRIBUTIONS ARE PROVIDED TO CHARITABLE & EDUCATIONAL INSTITUTIONS TO FOSTER THE EDUCATION OF YOUNG PEOPLE, ESPECIALLY WOMEN IN THE SCIENCES; TO IMPROVE THE LIVES OF THOSE AFFECTED BY CHRONIC ILLNESSES; AND TO SUPPORT EFFORTS TO PROTECT AND HELP THOSE AFFECTED BY VIOLENCE.

    Expenses $753,004 · Grants $753,004

  • SCHOLARSHIPS ARE PROVIDED TO CHILDREN AND YOUNG ADULTS IN NEED TO ASSIST WITH THEIR EDUCATION.

    Expenses $21,000 · Grants $21,000

  • THE FOUNDATION SELLS VARIOUS MERCHANDISE INCLUDING FOUR O'CLOCK FLOWER SEEDS. THE SALE OF THE FLOWER SEEDS IS PART OF MICHAELA'S GARDEN PROJECT, WHICH WAS DESIGNED TO ENCOURAGE AREA FAMILIES AND YOUTH TO BECOME MORE INVOLVED IN COMMUNITY SERVICE. EACH YEAR THE FOUR OCLOCKS HAVE BEEN RE- PLANTED FROM HARVESTED SEEDS. THE SEEDS FROM THESE PLANTS WERE HARVESTED, PACKED AND ARE BEING SOLD IN SPECIALLY DESIGNED PACKS OF 25 SEEDS. THE OTHER MERCHANDISE SOLD ARE SHIRTS, JACKETS, HATS, BLANKETS, LUMINARIES, TOTES AND BAGS, DECALS, WRISTBANDS, CHARMS, AND PINS. THE FUNDS RAISED THROUGH THE SELLING OF THESE PRODUCTS ARE DISBURSED TO ORGANIZATIONS AND INDIVIDUALS TO HELP FOSTER THE EDUCATION OF YOUNG PEOPLE, ESPECIALLY WOMEN IN THE SCIENCES; TO IMPROVE THE LIVES OF THOSE AFFECTED BY CHRONIC ILLNESSES; AND TO SUPPORT EFFORTS TO PROTECT AND HELP THOSE AFFECTED BY VIOLENCE.

    Expenses $28,947

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • William A Petit Jr

    PRESIDENT

    Total calculated
    $0
    Hours/week
    40

  • Johanna Petit Chapman

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    7

  • Ronald A Bucchi

    TREASURER

    Total calculated
    $0
    Hours/week
    20

  • Bernard J Lidestri

    SECRETARY

    Total calculated
    $0
    Hours/week
    5

  • Joseph O Ierna

    EMERITUS

    Total calculated
    $0
    Hours/week
    1

  • Richard A Bucchi

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michael R Chambrello

    DEVELOPMENT

    Total calculated
    $0
    Hours/week
    5

  • John F St Pierre

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Am Portia Corbett

    EMERITUS

    Total calculated
    $0
    Hours/week
    1

  • Mark A Thompson

    EMERITUS

    Total calculated
    $0
    Hours/week
    1

  • M Burch Tracy Ford

    EMERITUS

    Total calculated
    $0
    Hours/week
    1

  • James J Ritchie

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jayme V Ierna

    GRANT CHAIR

    Total calculated
    $0
    Hours/week
    5

  • Garrett Getlin Snider

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Glenn F Petit

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • William A Petit Sr

    EMERITUS

    Total calculated
    $0
    Hours/week
    1

  • Magdalena G Johndrow

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tara A Bucchi

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kate Terricciano

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • R James Wasz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sanford Cloud Jr Esq

    EMERITUS

    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

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2023
Filed
14 May 2025
IRS schema version
2023v6.0
Source object
202501349349309865

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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