Sorrentino Family Foundation Corp

Analysis

Sorrentino Family Foundation Corp is a registered charity in United States, based in Huntington, NY. It received its IRS tax-exemption ruling in February 2020, 6 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Sorrentino Family Foundation Corp reported income of $61k and spending of $66k, spending 108% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $60k to $61k (+1.9%), an average of +1.9% a year. Over the whole period it spent 88% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Sorrentino Family Foundation Corp sits at the 30th percentile: it is larger than about 30% of them. Against every charity in United States with reported income it ranks in the 24th percentile, and in the 26th percentile within NY. Charities of a similar size with the same main cause include A R E Rico Memorial Foundation ($61k), National Charity League Inc Rolling Hills Chapter ($61k) and United Way of Franklin County Inc ($61k).

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 $23k against liabilities of $0, net assets of $23k.