The Joseph Larosa Jr Foundation Inc

Nonprofit profile at a glance

EIN
920690091
IRS 990-EZ coverage
2022–2024
Forms available
Form 990-EZ 2024
Location
Setauket, NY, USA
Phone
6319215378
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Public Foundations

Official website

Reported finances

Revenue
$61,388
Expenses
$41,429
Assets
$73,193
Liabilities
$0

Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • JOSEPH LAROSA (PRESIDENT)
  • GIANNA LAROSA (VICE PRESIDENT)

People named in this filing

  • JOSEPH LAROSA (PRESIDENT)
  • GIANNA LAROSA (VICE PRESIDENT)
  • KATHY SAVASTANO (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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

In honor of jojo la rosa's memory, the joseph larosa jr foundation aka "forever jojo strong", proudly bestows scholarships to student athletes in the three village community. Our mission is to raise funds, through donations, so that we may give back to the young people of our community who embody the same qualities and characteristics of jojo by providing scholarships to student athletes who best exemplify jojo's remarkable and tremendous traits of resiliency, sense of community and positive attitude. The recipients of the scholarships have the highest level of determination, grit and perseverance.

What it reported doing in 2024

The corporation raised money for the purpose of giving scholarships to student atheletes inthe three village community, thereby, giving back to the young people within the communitywho embody the same qualities and true jojo characteristics; determination, hard work, preserverance and unwavering values of faith and family, keeping his memory alive.

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

SUPPORTED - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 64
  • Transparency & Controls: 82
  • Sustainability: 72
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 54.1%; rating input score 54
  • Program expense ratio: 80.2%; rating input score 80

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: 32.5%; rating input score 83; 83rd percentile among comparable filings
  • Total-asset coverage ratio: 1.77; rating input score 62; 62nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 68; 68th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 15.5% per year; rating input score 100; 78th percentile among comparable filings
  • Revenue growth: 47.7% per year; rating input score 100; 97th percentile among comparable filings
  • Asset growth: 61.1% per year; rating input score 100; 97th percentile among comparable filings

Details

  • Where the money goes: 54.1% of revenue deployed · 80.2% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $33K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2022 to 2024
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 54/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.