IRS revoked this organization's tax-exempt status on May 15, 2022

Fractured Rock INC

EIN 84-4080740 Private foundation / grantmaker Debary, FL NTEE T50
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Revenue & expenses by yearFY2022–FY2024
Revenue
$15K
FY2024▼ -70%
Expenses
$845
FY2024▼ -99%

Form 990 for the fiscal year ending December 2024 (IRS tax year 2024).


A private foundation based in Debary, FL. For fiscal year 2024 it reported $15K in revenue, $845 in expenses, and $16K in net assets.Pt I

Type
Private foundation / grantmaker · Foundations & Grantmakers
Location
Debary, FL
Website
fracturedrockinc.blogspot.com
Filings
2 on file (2022–2024)
Revenue
$15KFY2024
Expenses
$845
Net assets
$16K
People
3
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Provided by the organization

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Size
<$100K
What they do
A private foundation based in Debary, FL.
Leadership
Michael Degiglio · President
Money in and out
$15K revenue, $845 expenses
Bottom line
—

What Funders Ask

From IRS filings

Tax-deductible?

critical No — IRS exemption revoked

On the IRS revocation list. Details →

Can I give now?

critical No — exemption revoked (2022-05-15)

On the IRS revocation list. Details →

Filing up to date?

good Filed FY2024 (typical filing lag)

Details →

Size and trend

<$100K

↓ -70% vs prior year Details →

Not in filings yet: foundation funders · spent on programs

Grants paid & assets · FY2024
Total revenue
$15K
Pt VIII · Ln 12
Total expenses
$845
Pt IX · Ln 25
Net assets
$16K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $14K
Total assets
16K
deployed as grants and operations
Grants made
3grants
total in period

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Who They Fund

Part XV · grants paid · 3 grants · $55K · 2022–2022
Laura EngstromFY2022$44,700
Je HieFY2022$7,000
Gladys TorresFY2022$3,000

Grantmaking Profile

Patterns in foundation giving
Average grantPart XV$18K
Median grantPart XV$7K
Largest grantPart XV$45K

Summary of the Filing

Part I · fiscal year 2024 · Form 990-PF
Total assets
$16K
FY2024▲ +777%
Total liabilities
$0
FY2024
Total assetsPt II$16K

Identity & Classification

Form 990 Header · IRS Business Master File
Legal name (IRS)Hdr · item CFractured Rock INC
EINHdr · item D84-4080740
Principal addressHdr · item CDebary, FL
WebsiteHdr · item Jfracturedrockinc.blogspot.com
State of legal domicileHdr · item MFL
Exempt statusHdr · item IRevoked
NTEE classificationIRS BMFFoundations & Grantmakers (T50)
Ruling yearIRS BMFSep 2022

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1apending
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12a—
Whistleblower policyPt VI · Ln 13—
Document retention policyPt VI · Ln 14—
CEO/top-official compensation independently reviewedPt VI · Ln 15a—
Family or business relationships among officers/directorsPt VI · Ln 2—

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Contributions & grants100%$15K
Total revenueLn 12$15K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Operating & administrative $1.00
Operating & administrative100%$845
Total functional expensesLn 25$845

Balance Sheet

Part X · end of year
CashLn 1$16K
Total assetsLn 16$16K
Total liabilitiesLn 26$0
Total net assetsLn 32$16K
Months of cash on handcomputed226.9

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Payout rate
Grants paid $0 · Total assets $16K
0%
Where the money comes from
Contribution dependence
Contributions & grants — · Total revenue $15K
—
Government reliance
not reported
Earned-income share
not reported
Investment reliance
Investment income $0 · Total revenue $15K
0%
Program self-sufficiency
not reported
Growth & trend
Revenue growth (YoY)
This year $15K · Prior year $50K
-70%
Net-asset trend (YoY)
End of year $16K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $15K · Expenses $845
+94%
Liabilities-to-Assets
Total liabilities — · Total assets $16K
—
Net-asset ratio
Net assets $16K · Total assets $16K
100%
People & payroll
Highest Reported Total Compensation
Individual Michael Degiglio · Reported title President · Highest reported compensation $0 · Total expenses $845
0%
Personnel share
not reported
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Revenue growth -70%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$15K revenue · viewing · ⤓ 990 PDF
FY2023not on file
FY2022$50K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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