Funk-Zitiello Foundation INC FY2020 filing

Tax-deductible

Ponte Vedra Beach, FL501(c)(3)Foundations & GrantmakersEIN 81-3204321Revenue $370K in FY2020

On file with the IRSchampionsforhopegolf.com830-13 A1a North 187 Suite 13, 32082-0000 · Ponte Vedra Beach, FLTax-exempt since Oct 2016Publicly supported — 509(a)(2)

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The Funk-Zitiello Foundation was formed to raise funds to support two nonprofit organizations. Donations are made to mayo clinic for pancreatic cancer research and to the jt townsend Foundation to support people with disabilities by donating adaptive equipment and other financial assistance.

501(c)(3) charity; gifts are tax-deductible.
99¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · 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
2 of 5
filings with a surplus
Average surplus $11K a year · 3% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Looks good: 3.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $81K
Looks good: 4 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
0
of 5 voting members
Concern: none of 5 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$370K
Spent
$377K
To programs
99%
Net assets
$96K
By yearFY2020–FY2024
Revenue
$370K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$370K
FY2021$391K
FY2022$723K
FY2023$549K
FY2024$148K
Expenses
$377K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$377K
FY2021$468K
FY2022$709K
FY2023$560K
FY2024$8K
Net assets
$96K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$96K
FY2021$23K
FY2022$36K
FY2023$25K
FY2024$167K

From the FY2020 Form 990 · see the original

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You’re viewing the FY2020 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 Oct 2016.

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

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $373K Management & general 1% · $4K

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

5 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Funk-Zitiello Foundation 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Funds pancreatic cancer research and supports people with disabilities through adaptive equipment and financial aid.

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Provided by the organization

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3 programs · $373K · in their own filed words · FY2020
01

Donation to mayo clinic for pancreatic cancer research. The majority of the donation is for the purpose of developing new techniques and tests for the early detection of pancreatic cancer. The funk-zitiello foundation board meets with the mayo clinic research and clinical teams for an annual report on the use of the funds and updates on…

$275Kprogram expense
02

Donation to the JT townsend foundation. The funds go towards the JTTF programs that support people with disabilities. The funds are utilized to acquire adaptive equipment for the recipients and also for other financial assistance. In 2020, the JTTF provided equipment AND/OR financial assistance to 53 recipients.

$91Kprogram expense
03

Donations to a family through gofundme for a woman suffering with pancreatic cancer to assist with medical expenses.

$7Kprogram 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
Pga Tour INCFY2023$25K
Total grants receivedfrom 4 funders$81K
See all 4 funders →
Grants paid · 9 grants · $2.1M · 2020–2023
Mayo ClinicMN · FY2023$400,000
J T Townsend Foundation INCFL · FY2023$150,000
Mayo ClinicMN · FY2022$550,000
J T Townsend Foundation INCFL · FY2022$150,000
Mayo ClinicMN · FY2021$325,000
J T Townsend Foundation INCFL · FY2021$132,416
Mayo ClinicMN · FY2020$275,000
J T Townsend Foundation INCFL · FY2020$65,083
Unitemized GrantFY2020$7,200

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$370K
Ln 12
Gifts and grantsLn 1h$397K
Money outPt IX
$377K
Ln 25
Programscol B$373K
Managementcol C$4K
Owns and owesPt X
$96K
net assets · Ln 32
Cash and savingsLn 1–2$101K
Total assetsLn 16$96K
LiabilitiesLn 26$0
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$397K
Noncash giftsLn 1g$21K
Fundraising eventsLn 1c$21K
Total revenueLn 12$370K
Assets in detailPt X, end of year
CashLn 1$101K
Cash and savings togetherLn 1–2$101K
InvestmentsLn 11–13−$5K
Total assetsLn 16$96K
LiabilitiesLn 26$0
Net assetsLn 32$96K
OperationsPt I, VI
EmployeesI 50
VolunteersI 685
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$82K$101K
InvestmentsLn 11–13$26K−$5K
Total assetsLn 16$108K$96K
LiabilitiesLn 26$0$0
Net assetsLn 32$108K$96K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$366K$366K
Grants to domestic individualsLn 2$7K$7K
Legal feesLn 11b$550$550
Office expensesLn 13$503$503
Information technologyLn 14$321$321
InsuranceLn 23$728$728
Other expenses (24a–d)Ln 24$2K$2K
Total functional expensesLn 25$377K$373K$4K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $148K$8K$140K$167K 990 PDF
FY2023 $549K$560K−$12K$25K 990 PDF
FY2022 $723K$709K$14K$36K 990 PDF
FY2021 $391K$468K−$77K$23K 990 PDF
FY2020 Viewing $370K$377K−$7K$96K 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 FY2020 990 (6 parts)
Part I · Summary $370,016 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $711,545$397,389
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenuePrior year −$105,183−$27,373
I-12 Total revenuePrior year $606,362$370,016
I-13 Grants and similar amounts paidPrior year $605,000$373,104
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $10,477$4,189
I-18 Total expensesPrior year $615,477$377,293
I-19 Revenue less expensesPrior year −$9,115−$7,277
Part VI · Governance 0 of 5 board members independent, 4 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members0
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $370,016 across 6 lines filed
VIII-1c Fundraising events$21,365
VIII-1f All other contributions, gifts and grants$376,024
VIII-1g Noncash contributions (included above)$21,365
VIII-1h Total contributions, gifts and grants$397,389
VIII-8 Net income from fundraising events−$27,373
VIII-12 Total revenue$370,016
Part IX · Statement of functional expenses $377,293 across 7 lines filed
IX-1 Grants to domestic organizationsPrograms $365,904$365,904
IX-2 Grants to domestic individualsPrograms $7,200$7,200
IX-11b Legal feesManagement $550$550
IX-13 Office expensesManagement $503$503
IX-14 Information technologyManagement $321$321
IX-23 InsuranceManagement $728$728
IX-24 Other expenses (24a–d)Management $2,087$2,087
IX-25 Total functional expensesPrograms $373,104 · Management $4,189 · Fundraising $0$377,293
Part X · Balance sheet $95,773 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $82,207$100,751
X-11 Publicly traded securitiesStart of year $25,821−$4,978
X-16 Total assetsStart of year $108,028$95,773
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $108,028$95,773
X-32 Total net assets or fund balancesStart of year $108,028$95,773
X-33 Total liabilities and net assetsStart of year $108,028$95,773
Part XI · Reconciliation of net assets $95,773 net assets at year end
XI-1 Total revenue$370,016
XI-2 Total expenses$377,293
XI-3 Revenue less expenses−$7,277
XI-4 Net assets at start of year$108,028
XI-5 Net unrealized gains (losses) on investments−$4,978
XI-10 Net assets at end of year$95,773

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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