Charles and Ann Serraino Foundation

Nonprofit profile at a glance

EIN
223440202
IRS 990-EZ coverage
2010–2022
Forms available
Form 990-EZ 2022
Location
Hasbrouck Heights, NJ, USA
Phone
2012880626
Rating
89
Verdict
STRONG
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$2,690
Expenses
$36,200
Assets
$87,503

Source: IRS Form 990-EZ. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • HON THOMAS KEAN (HONORARY ADVISOR TO THE PRESIDENT)
  • JOANNE SERRAINO (PRESIDENT)
  • DEWEY CANNELLA (INTERIM VICE PRESIDENT)

People named in this filing

  • HON THOMAS KEAN (HONORARY ADVISOR TO THE PRESIDENT)
  • JOANNE SERRAINO (PRESIDENT)
  • BRUCE J SARTORI (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Assisting senior citizens

What it reported doing in 2022

To assist senior citizens in need of financial assistancein payment for medical bills not covered by insurance inlife threatening circumstances and related preventative healthcare

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 99
  • Transparency & Controls: 82
  • Sustainability: 27
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 96.7%; rating input score 97

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -1,245.7%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 2.42; rating input score 67; 67th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 50% per year; rating input score 100; 91st percentile among comparable filings
  • Revenue growth: 9.1% per year; rating input score 100; 80th percentile among comparable filings
  • Asset growth: 4.2% per year; rating input score 100; 54th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 96.7% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 2 filed program accomplishments · $35K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 7 of 7 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 9 filing years from 2010 to 2022
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Operating margin scored 2/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.