Noia Foundation

What it reported doing in 2024

Events are an important aspect of the foundation. Food, friends and breaking bread is what we excel in. Relationships are part of who we are. July 15 - annual golf outing 108 golfers participated in our outing at sandridge golf club. The afternoon was great- clear and sunny- a perfect day for golf. We were able to raise $21,000 for archbishop hoban- one of our first schools in the legacy program.july 23- new members reception21 out of 35 new members joined us for lunch and were welcomed to noia at chairman umberto fedeli's office. August 22- bocce night 70 people attended our annual bocce night at the alta house in little italy. It was a fun night of competition, laughter and pizza from maxi's. Team spitalieri/ peca won the tournament.september 26- annual meeting and dinner 120 members attended our annual meeting held at shoreby. We shared our scholarship update, the launch of construction project at our new headquarters, and the start of our planned giving program. We also had a member of our senior class alyssa speak to the members on the importance of the scholarship program. October 14 - columbus day 50 proud italian americans feasted together on nido italia's patio for our traditional columbus day luncheon in little italy, following the annual parade. We also had a float in the parade where we passed out limoncello october 29- meet and greet 20 members and 10 prospective members gathered on the patio of maxi's to meet current members and to hear more about the foundation. We welcomed 2 new members to this event. November 14- a conversation with jim mirgliotta29 members gathered at our current headquarters to sit down with long-time member jim mirgliotta and hear from him on the history of his company and his life story.december 12 - pier w christmas party 208 guests celebrated the holiday season at pier w for our annual event one of the foundation's favorites.january 23 - cooking with anthony15 couples joined us for a virtual cooking class with anthony quagliata. The online zoom event included some great recipes and our favorite cheese dishes from miceli's dairy company.march 6- kent state lecture20 members gathered at lockkeeper to hear a talk on life in florence. We also had a member share her experience with the program. March 8- la festa della donna 35 women of noia celebrated international women's day at miceli dairy companies. The event included a wine tasting from baci winery and 3 ladies from noia speak on their experiences in the work force (specially manufacturing and estate planning) april 10 - prospect event 40 guests gathered at maxi's in little italy to discuss noia and meet prospective members of the foundation. We are happy to have welcomed 1 new member.april 24- amaro tasting 27 members attended a new event at cent anni a new business in little italy. Members enjoyed a pairing of amaro's with food and an explanation of the differences may 13- a conversation with john langer 30 members gathered at member john langers office to hear about his company and how he started. May 22- amici dinner 30 members joined us at lago in the flats for dinner with our amici's. This is another way for our new members to connect with the membership and meet others from the foundation. June 10- senior send off 18 members and families of our first graduation seniors joined us at the union club for a cocktail reception to send them off to college and share our gratitude june 18th - scholarship dinner 72 people gathered at lockkeepers to share our freshman dinner and to hear from them on their first year. We have 15 students completing their first year. All events are promoted on our social media and website. Visit our pages for photos from these events.

Financial Efficiency

• Mission deployment rate: 92.9%; rating input score 93
• Program expense ratio: 79.6%; rating input score 80
• Fundraising efficiency: $12.06 raised per $1 spent on fundraising; rating input score 44; 44th percentile among comparable filings

Transparency & Controls

• Consistency checks: 85.7%; rating input score 86; 2nd percentile among comparable filings
• Pay-setting controls: Limited
• Foreign activity oversight: Limited
• Grant itemization coverage: 97.9%; rating input score 98; 46th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 6 of 7 controls in place; rating input score 86
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: NotApplicable
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Fail

Sustainability

• Operating margin: 39.6%; rating input score 89; 89th percentile among comparable filings
• Total-asset coverage ratio: 11.43; rating input score 93; 93rd percentile among comparable filings
• Liabilities to assets ratio: 0; rating input score 75; 75th percentile among comparable filings
• Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

• Program expense growth: 13% per year; rating input score 100; 71st percentile among comparable filings
• Revenue growth: 12.6% per year; rating input score 100; 74th percentile among comparable filings
• Asset growth: 7.7% per year; rating input score 100; 50th percentile among comparable filings