Fava Scholarship Foundation FY2021 filing

Whippany, NJPrivate foundation / grantmaker EIN 23-7149743Revenue $153K in FY2021Latest return filed May 13, 2024

On file with the IRSWhippany, NJ

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FY2021 · Form 990-PFIndependent: from IRS data, not the org
Download 990
Latest return
FY2023
latest Form 990-PF
The latest return is for FY2023, 3 tax years back.
IRS e-file · Filing history
Surplus or deficit
2 of 4
filings with a surplus
Average deficit $356K a year · 176% of revenue · last 4 filings
A surplus in 2 of the last 4 filings.
990-PF Pt I · 4 filings
12.4 mo
of spending, in cash
12.4 months of spending in cash.
990-PF Pt II · Ln 1–2 · Pt I · Ln 26
Liabilities
$0
0% of total assets
Liabilities are 0% of assets.
990-PF Pt II · Ln 23
Revenue
$153K
+15% vs prior year
Spent
$134K
Net assets
$1.5M
By yearFY2020–FY2023
Revenue
$153K
FY2021▲ +15%
Tap a bar for its year
Revenue by fiscal year
FY2020$133K
FY2021$153K
FY2022$509K
FY2023$12K
Expenses
$134K
FY2021▲ +31%
Tap a bar for its year
Expenses by fiscal year
FY2020$102K
FY2021$134K
FY2022$1.6M
FY2023$383K
Net assets
$1.5M
FY2021▲ +1%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.5M
FY2021$1.5M
FY2022$396K
FY2023$0

From the FY2021 Form 990 · see the original

You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2023) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023.

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

Where the money goes

What each dollar paid for.

Grants & contributions paid 71% · $95K Operating & administrative 29% · $39K

Form 990-PF Part I, lines 24–26. Every line is in By the numbers.

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Who runs it and what they're paid

The filing lists no officers, directors or key staff.

Programs and updates

A private foundation based in Whippany, NJ.

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Grants and how to apply

Who it funds, and how to ask.

Who They Fund

Part XV · grants paid · 3 grants · $330K · 2023–2023
Tufts Universtiy School of MedicineFY2023$165,000
Blackburn CollegeFY2023$82,500
Caldwell CollegeFY2023$82,500

Grantmaking Profile

Patterns in foundation giving
Average grantPart XV$110K
Median grantPart XV$82K
Largest grantPart XV$165K

By the numbers

The FY2021 990-PF, line by line.

1The main four
Money in
$153K
Investment income$152K
Other income$1K
Money out
$134K
Grants paid$95K
Running costs$39K
Owns and owes
$1.5M
net assets
Cash and savings$139K
Total assets$1.5M
Liabilities$0
2In more detail
Revenue in detail
Investment income$152K
Other income$1K
Total revenue$153K
Assets in detailEnd of year
Cash and savings together$139K
Total assets$1.5M
Liabilities$0
Net assets$1.5M
Operations
Fiscal year endsDecember

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 LatestFiled with the IRS May 13, 2024 $12K$383K−$372K$0 990 PDF
FY2022Filed with the IRS May 12, 2023 $509K$1.6M−$1.1M$396K 990 PDF
FY2021 ViewingFiled with the IRS May 13, 2022 $153K$134K$19K$1.5M 990 PDF
FY2020Filed with the IRS May 13, 2021 $133K$102K$31K$1.5M 990 PDF

Schedules filed Part IV

G · Fundraising L · Interested persons R · Related orgs

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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