Michael Petrone Foundation

Analysis

Michael Petrone Foundation is a registered charity in United States, based in Collegeville, PA. It received its IRS tax-exemption ruling in August 1999, 27 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Michael Petrone Foundation reported income of $62k and spending of $59k, spending 95% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $25k to $62k (+154%), an average of +154% a year. The sharpest change came in the year to December 2023, when income rose by 154%. Over the whole period it spent 96% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Michael Petrone Foundation sits at the 31st percentile: it is larger than about 30% of them. Against every charity in United States with reported income it ranks in the 25th percentile, and in the 23rd percentile within PA. Charities of a similar size with the same main cause include Ukrainian American Youth Assoc ($62k), The Fertel Foundation ($62k) and Bayou Industrial Group ($62k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $20k against liabilities of $0, net assets of $20k.