Nonprofit · EIN 62-6225565
FRANK J B & EMMA S VARALLO FOUNDATION TR
Also known as DECOSIMO JOSEPH F ET AL CO-TTEES
Tax-exempt · CHATTANOOGA, TN 37402
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-PF | $795,947 | $1,387,584 | -$591,637 | $24,076,711 | $0 | $24,076,711 |
| December 31, 2023 | 990-PF | $265,580 | $1,048,392 | -$782,812 | $24,668,348 | $0 | $24,668,348 |
Financial details: 990-PF for the year ended December 31, 2024
Revenue
- Dividends
- $165,612
- Net gain from sales of assets
- $454,952
- Other income
- $175,383
Expenses
- Grants and similar amounts paid
- $900,000
- Compensation of officers, directors and key employees
- $0
- Disbursements for charitable purposes
- $940,360
- Excise tax on investment income
- $7,773
Balance sheet and other
- Total assets, start of year
- $24,668,348
- Total assets, end of year
- $24,076,711
- Total liabilities, end of year
- $0
- Net assets, end of year
- $24,076,711
- Fair market value of assets
- $27,155,208
- Qualifying distributions
- $940,360
- Net investment income
- $620,564
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990-PF for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JOSEPH F DECOSIMO 629 MARKET STREET SUITE 120, CHATTANOOGA, TN 37402 | CHAIRMAN | 0.25 | $0 |
| ROBERT F DECOSIMO 629 MARKET STREET SUITE 120, CHATTANOOGA, TN 37402 | SECRETARY | 23 | $0 |
| JOSEPH D DECOSIMO 629 MARKET STREET SUITE 120, CHATTANOOGA, TN 37402 | TRUSTEE | 0.25 | $0 |
| JOHN T DECOSIMO 629 MARKET STREET SUITE 120, CHATTANOOGA, TN 37402 | TRUSTEE | 0.25 | $0 |
990-PF for the year ended December 31, 2023: 4 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JOSEPH F DECOSIMO 629 MARKET STREET SUITE 120, CHATTANOOGA, TN 37402 | CHAIRMAN | 0.25 | $0 |
| ROBERT F DECOSIMO 629 MARKET STREET SUITE 120, CHATTANOOGA, TN 37402 | SECRETARY | 23 | $0 |
| JOSEPH D DECOSIMO 629 MARKET STREET SUITE 120, CHATTANOOGA, TN 37402 | TRUSTEE | 0.25 | $0 |
| JOHN T DECOSIMO 629 MARKET STREET SUITE 120, CHATTANOOGA, TN 37402 | TRUSTEE | 0.25 | $0 |
Address and contacts
- Address (IRS master file)
- 629 MARKET ST STE 120, CHATTANOOGA, TN 37402-4885
- Signed the 990-PF
- R FREDRICK DECOSIMO, SECRETARY
- Phone
- (423) 265-9510
- Return prepared by
- ELLIOTT DAVIS ADVISORY LLC
What it must file and when
IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-PF on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-PF on file |
IRS record
- EIN
- 62-6225565
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Private non-operating foundation
- Donations deductible (Pub 78)
- Private foundation, 30% limit
- Exempt since
- 1989
- Accounting year ends
- December
- Files
- Form 990-PF
- Assets (IRS master file)
- $24,076,711
- Income (IRS master file)
- $2,983,812
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2024 | $795,947 | $1,387,584 | $24,076,711 | XML |
| 990-T | December 2024 | – | – | – | IRS |
| 990-PF | December 2023 | $265,580 | $1,048,392 | $24,668,348 | XML |
| 990-T | December 2023 | – | – | – | IRS |
| 990-PF | December 2022 | – | – | – | IRS |
| 990-T | December 2022 | – | – | – | IRS |
| 990-PF | December 2021 | – | – | – | IRS |
| 990-T | December 2021 | – | – | – | IRS |
| 990-PF | December 2020 | – | – | – | IRS |
| 990-T | December 2020 | – | – | – | IRS |
| 990-PF | September 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 62-6225565).
Questions about FRANK J B & EMMA S VARALLO FOUNDATION TR
- What is the EIN of FRANK J B & EMMA S VARALLO FOUNDATION TR?
- The employer identification number (EIN) of FRANK J B & EMMA S VARALLO FOUNDATION TR is 62-6225565.
- Is FRANK J B & EMMA S VARALLO FOUNDATION TR tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1989.
- Are donations to FRANK J B & EMMA S VARALLO FOUNDATION TR tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does FRANK J B & EMMA S VARALLO FOUNDATION TR file?
- Form 990-PF. Private foundations file every year.
- When is the next return of FRANK J B & EMMA S VARALLO FOUNDATION TR due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did FRANK J B & EMMA S VARALLO FOUNDATION TR last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended December 2024.
- Who are the officers and directors of FRANK J B & EMMA S VARALLO FOUNDATION TR?
- The 990-PF for the year ended December 31, 2024 lists 4 people; 0 received compensation from the organization.
- How much revenue does FRANK J B & EMMA S VARALLO FOUNDATION TR have?
- On its 990-PF for the year ended December 31, 2024 it reported revenue of $795,947, expenses of $1,387,584 and total assets of $24,076,711 at year end.
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