Amity Charitable Trust Fund: FY2023 Nonprofit Profile & Form 990 (EIN 06-6070867)

Revenue by fiscal year
FY2020	$118K
FY2021	$193K
FY2022	$316K
FY2023	$382K
FY2024	$484K

Expenses by fiscal year
FY2020	$153K
FY2021	$182K
FY2022	$208K
FY2023	$220K
FY2024	$232K

Net assets by fiscal year
FY2020	$2.8M
FY2021	$3.3M
FY2022	$2.7M
FY2023	$3.1M
FY2024	$3.4M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 1964.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

74 cents of each dollar spent went to programs.

74%

23%

Program services 74% · $162K Management & general 23% · $51K Fundraising 3% · $7K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

6 people listed on the 990.

Part VII, Section A · reportable compensation

David Iannone

Trustee

$0Pt VII · Sec A

Pascal Panza

Trustee

$0Pt VII · Sec A

Robert Piscitelli

President/Treasurer

$0Pt VII · Sec A

Prisco Panza

Vice President

$0Pt VII · Sec A

Joseph Palmucci

Trustee

$0Pt VII · Sec A

Thomas Ciesco

Secretary

$0Pt VII · Sec A

See Amity Charitable Trust Fund executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Awards scholarships to college students and disburses funds to community and civic organizations.

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Provided by the organization

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2 programs · $162K · in their own filed words · FY2023

01

Scholarships Awarded

Encourages & enables students to begin their college education

$111Kprogram expense

02

Worthy Projects

Grants made to various community charitable and civic organizations in furtherance of their exempt activities

$51Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid

Grants received · FY2023

Friends of Jimmy Miller INCFY2023$250

Amazonsmile FoundationFY2023$72

Total grants receivedfrom 2 funders$322

Grants paid · 9 grants · $495K · 2020–2024

Unitemized GrantFY2024$110,900

Unitemized GrantFY2023$106,400

Umps Care Charities INCMD · FY2023$7,500

Unitemized GrantFY2022$101,050

Umps Care Charities INCMD · FY2022$7,500

Unitemized GrantFY2021$86,450

The Children's Center of Hamden INCCT · FY2021$9,500

Unitemized GrantFY2020$56,460

The Children's Center of Hamden INCCT · FY2020$9,500

By the numbers

The FY2023 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$382K

Ln 12

Investment incomeLn 3$223K

Gifts and grantsLn 1h$80K

Other incomeLn 4–11$80K

Money outPt IX

$220K

Ln 25

Programscol B$162K

Managementcol C$51K

Fundraisingcol D$7K

Owns and owesPt X

$3.1M

net assets · Ln 32

Cash and savingsLn 1–2$273K

Total assetsLn 16$3.1M

LiabilitiesLn 26$0

PeoplePt VI, VII

6

listed · VII A

PaidVII A0

Voting boardVI 1a6

IndependentVI 1b6

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$80K

Investment incomeLn 3$223K

Other incomeLn 4–11$80K

Gains on assetsLn 7$158K

Total revenueLn 12$382K

Assets in detailPt X, end of year

CashLn 1$23K

SavingsLn 2$250K

Cash and savings togetherLn 1–2$273K

InvestmentsLn 11–13$2.8M

Total assetsLn 16$3.1M

LiabilitiesLn 26$0

Net assetsLn 32$3.1M

OperationsPt I, VI

EmployeesI 50

VolunteersI 60

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aNo

Whistleblower policyVI 13No

Records policyVI 14No

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY23	End FY23
Cash and savingsLn 1–2	$440K	$273K
InvestmentsLn 11–13	$2.3M	$2.8M
Total assetsLn 16	$2.7M	$3.1M
LiabilitiesLn 26	$0	$0
Net assetsLn 32	$2.7M	$3.1M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$51K	$51K
Grants to domestic individualsLn 2	$111K	$111K
Legal feesLn 11b	$360		$360
Accounting feesLn 11c	$14K		$14K
Investment management feesLn 11f	$21K		$21K
Other fees for servicesLn 11g	$6K		$6K
Office expensesLn 13	$7K		$7K
InsuranceLn 23	$2K		$2K
Other expenses (24a–d)Ln 24	$7K			$7K
Total functional expensesLn 25	$220K	$162K	$51K	$7K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest	$484K	$232K	$252K	$3.4M	990 PDF
FY2023 Viewing	$382K	$220K	$162K	$3.1M	990 PDF
FY2022	$316K	$208K	$107K	$2.7M	990 PDF
FY2021	$193K	$182K	$11K	$3.3M	990 PDF
FY2020	$118K	$153K	−$35K	$2.8M	990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

See the full FY2023 990 (6 parts)

Part I · Summary $381,891 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $60,283$79,662

I-9 Program service revenuePrior year $0$0

I-10 Investment incomePrior year $179,820$222,625

I-11 Other revenuePrior year $75,644$79,604

I-12 Total revenuePrior year $315,747$381,891

I-13 Grants and similar amounts paidPrior year $149,717$162,140

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $0$0

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $58,594$57,523

I-18 Total expensesPrior year $208,311$219,663

I-19 Revenue less expensesPrior year $107,436$162,228

Part VI · Governance 6 of 6 board members independent, 4 to look at

VI-1a Voting members of the governing body6

VI-1b Independent voting members6

VI-12a Written conflict of interest policyNo

VI-13 Written whistleblower policyNo

VI-14 Document retention and destruction policyNo

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

Part VIII · Statement of revenue $381,891 across 6 lines filed

VIII-1f All other contributions, gifts and grants$79,662

VIII-1h Total contributions, gifts and grants$79,662

VIII-3 Investment incomeExcluded from tax $64,794$64,794

VIII-7 Net gain or loss on sales of assetsRelated to mission $157,831$157,831

VIII-8 Net income from fundraising eventsExcluded from tax $79,604$79,604

VIII-12 Total revenueRelated to mission $157,831 · Unrelated business $0 · Excluded from tax $144,398$381,891

Part IX · Statement of functional expenses $219,663 across 9 lines filed

IX-1 Grants to domestic organizationsPrograms $51,481$51,481

IX-2 Grants to domestic individualsPrograms $110,659$110,659

IX-11b Legal feesManagement $360$360

IX-11c Accounting feesManagement $14,100$14,100

IX-11f Investment management feesManagement $20,856$20,856

IX-11g Other fees for servicesManagement $6,240$6,240

IX-13 Office expensesManagement $7,232$7,232

IX-23 InsuranceManagement $2,098$2,098

IX-24 Other expenses (24a–d)Fundraising $6,637$6,637

IX-25 Total functional expensesPrograms $162,140 · Management $50,886 · Fundraising $6,637$219,663

Part X · Balance sheet $3,100,710 assets, 10 lines filed

X-1 Cash, non-interest-bearingStart of year $8,865$22,985

X-2 Savings and temporary cash investmentsStart of year $431,103$249,612

X-9 Prepaid expenses and deferred chargesStart of year $1,009$1,000

X-11 Publicly traded securitiesStart of year $2,306,102$2,827,113

X-16 Total assetsStart of year $2,747,079$3,100,710

X-26 Total liabilitiesStart of year $0$0

X-27 Net assets without donor restrictionsStart of year $361,796$430,993

X-28 Net assets with donor restrictionsStart of year $2,385,283$2,669,717

X-32 Total net assets or fund balancesStart of year $2,747,079$3,100,710

X-33 Total liabilities and net assetsStart of year $2,747,079$3,100,710

Part XI · Reconciliation of net assets $3,100,710 net assets at year end

XI-1 Total revenue$381,891

XI-2 Total expenses$219,663

XI-3 Revenue less expenses$162,228

XI-4 Net assets at start of year$2,747,079

XI-9 Other changes in net assets$191,403

XI-10 Net assets at end of year$3,100,710

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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Amity Charitable Trust Fund FY2023 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Amity Charitable Trust Fund

Scholarships Awarded

Worthy Projects

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV