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Cento Amici INC FY2023 filing

Tax-deductible

Lebanon, NJ501(c)(3)EducationEIN 22-3800065

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Raising funds for college scholarships for needy and deserving children.

501(c)(3) charity; gifts are tax-deductible.
92¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $42K a year · 21% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
16 mo
of spending, in cash
Looks good: 15.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $17K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$247K
+24% vs prior year
Spent
$168K
To programs
92%
Net assets
$765K
By yearFY2020–FY2024
Revenue
$247K
FY2023▲ +24%
Revenue by fiscal year
FY2020$130K
FY2021$188K
FY2022$199K
FY2023$247K
FY2024$245K
Expenses
$168K
FY2023▲ +8%
Expenses by fiscal year
FY2020$122K
FY2021$131K
FY2022$156K
FY2023$168K
FY2024$223K
Net assets
$765K
FY2023▲ +20%
Net assets by fiscal year
FY2020$542K
FY2021$687K
FY2022$639K
FY2023$765K
FY2024$870K

From the FY2023 Form 990 · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 2002.

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

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $156K Management & general 8% · $13K

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

13 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Jerry Galgano
President
$0Pt VII · Sec A
Ashley Maloof
Vice-Preside
$0Pt VII · Sec A
$0Pt VII · Sec A
Antonio Froio
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Cento Amici INC 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

Provides college scholarships for children in need.

Provided by the organization

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1 program service account for $156K of program spending, described in the organization's own filed words · FY2023.
01

Scholarship grants to SCHOOLS/COLLEGES in the state of new jersey.

$156Kprogram expense

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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 · FY2024
Gerald and Carol Galgano Foundation INCFY2024$12K
Grano Family Foundation C/O Jjgfo LLCFY2024$5K
Joseph and Cheryl Marino Family FoundationFY2024$250
Total grants receivedfrom 3 funders$17K
See all 3 funders →
Grants paid · 40 grants · $684K · 2020–2024
Jesuit Community of St Peters Prep INCNJ · FY2024$49,500
Rutgers the State UniversityNJ · FY2024$25,000
Roselle Catholic High SchoolFY2024$19,500
St Benedict's Preparatory SchoolFY2024$19,500
Montclair State University Foundation INCNJ · FY2024$18,500
Immaculate Conception High SchoolIL · FY2024$17,500
Seton Hall Preparatory SchoolNJ · FY2024$12,500
Saint Dominic AcademyNJ · FY2024$10,000
Oak Knoll SchoolFY2024$8,500
Union County CollegeFY2024$8,500
Raritan Valley Community College Dir of Budget & Finance OfficeNJ · FY2024$8,500
Jesuit Community of St Peters Prep INCNJ · FY2023$23,500
Rutgers the State UniversityNJ · FY2023$22,500
St Benedict's Preparatory SchoolFY2023$18,500
Roselle Catholic High SchoolFY2023$18,500
Montclair State University Foundation INCNJ · FY2023$17,500
Immaculate Conception High SchoolIL · FY2023$15,000
Union County CollegeFY2023$15,000
See all 40 grants →

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$247K
Ln 12
Gifts and grantsLn 1h$163K
Other incomeLn 4–11$53K
Investment incomeLn 3$32K
Money outPt IX
$168K
Ln 25
Programscol B$156K
Managementcol C$13K
Owns and owesPt X
$765K
net assets · Ln 32
Cash and savingsLn 1–2$219K
Total assetsLn 16$765K
LiabilitiesLn 26$0
PeoplePt VI, VII
13
listed · VII A
PaidVII A0
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$163K
Fundraising eventsLn 1c$49K
Investment incomeLn 3$32K
Other incomeLn 4–11$53K
Gains on assetsLn 7$19K
Total revenueLn 12$247K
Assets in detailPt X, end of year
CashLn 1$218K
SavingsLn 2$2K
Cash and savings togetherLn 1–2$219K
InvestmentsLn 11–13$546K
Total assetsLn 16$765K
LiabilitiesLn 26$0
Net assetsLn 32$765K
OperationsPt I, VI
EmployeesI 50
VolunteersI 625
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
LineStart FY23End FY23
Cash and savingsLn 1–2$175K$219K
InvestmentsLn 11–13$463K$546K
Total assetsLn 16$639K$765K
LiabilitiesLn 26$0$0
Net assetsLn 32$639K$765K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$156K$156K
Accounting feesLn 11c$2K$2K
Other fees for servicesLn 11g$4K$4K
Information technologyLn 14$4K$4K
Other expenses (24a–d)Ln 24$2K$2K
Total functional expensesLn 25$168K$156K$13K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $245K$223K$23K$870K 990 PDF
FY2023 Viewing $247K$168K$78K$765K 990 PDF
FY2022 $199K$156K$43K$639K 990 PDF
FY2021 $188K$131K$57K$687K 990 PDF
FY2020 $130K$122K$8K$542K 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 (4 parts)
Part VIII · Statement of revenue $246,745 across 8 lines filed
VIII-1b Membership dues$10,900
VIII-1c Fundraising events$49,171
VIII-1f All other contributions, gifts and grants$102,504
VIII-1h Total contributions, gifts and grants$162,575
VIII-3 Investment incomeExcluded from tax $12,121$12,121
VIII-7 Net gain or loss on sales of assetsExcluded from tax $19,488$19,488
VIII-8 Net income from fundraising eventsExcluded from tax $52,561$52,561
VIII-12 Total revenueExcluded from tax $84,170$246,745
Part IX · Statement of functional expenses $168,280 across 5 lines filed
IX-1 Grants to domestic organizationsPrograms $155,500$155,500
IX-11c Accounting feesManagement $1,650$1,650
IX-11g Other fees for servicesManagement $4,500$4,500
IX-14 Information technologyManagement $4,359$4,359
IX-24 Other expenses (24a–d)Management $2,271$2,271
IX-25 Total functional expensesPrograms $155,500 · Management $12,780 · Fundraising $0$168,280
Part X · Balance sheet $764,730 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $171,261$217,578
X-2 Savings and temporary cash investmentsStart of year $4,034$1,509
X-11 Publicly traded securitiesStart of year $463,448$545,643
X-16 Total assetsStart of year $638,743$764,730
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $638,743$764,730
X-32 Total net assets or fund balancesStart of year $638,743$764,730
X-33 Total liabilities and net assetsStart of year $638,743$764,730
Part XI · Reconciliation of net assets $764,730 net assets at year end
XI-1 Total revenue$246,745
XI-2 Total expenses$168,280
XI-3 Revenue less expenses$78,465
XI-4 Net assets at start of year$638,743
XI-5 Net unrealized gains (losses) on investments$47,522
XI-10 Net assets at end of year$764,730

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

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