Andersen Formolo Family Foundation

Chicago, IL
Tax-exempt since April 2005
EIN: 20-1917495

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Type of Nonprofit

Designated as a 501(c)(3) Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Philanthropy, Voluntarism and Grantmaking Foundations / Private Independent Foundations (NTEE)

Donations to this organization are tax deductible.

Revenue

$616k (2024)

Expenses

$806k (2024)

Total Assets

$12M (2024)

Total Liabilities

$0 (2024)

Source: Form 990 tax filings from 2011 to 2024

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2024

Revenue

$616,053

Expenses

$805,532

Net Income

-$189,479

Net Assets

$12,038,046

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$296,657	48.2%
Interest Revenue	$8,139	1.3%
Dividends	$362,557	58.9%
Sales of Assets	-$52,728
Other Income	$1,428	0.2%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$749,333	93.0%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$12,038,046
Total Liabilities	$0
Net Assets	$12,038,046

Compensation

Key Employees and Officers	Compensation	Other
Thomas J Formolo (President/Treasurer)	$0	$0
Elizabeth Douglas (Director)	$0	$0
Rich Miller (Director)	$0	$0
Hayley F Mans (Secretary)	$0	$0

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990-PF

Filed on Nov. 13, 2025

Primary tax return for a private foundation's activities, finances, and governance

View Filing

Schedules ▼

XML

Fiscal Year Ending Dec.
2023

Revenue

$592,399

Expenses

$579,140

Net Income

$13,259

Net Assets

$12,389,466

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$225,228	38.0%
Interest Revenue	$7,336	1.2%
Dividends	$256,151	43.2%
Sales of Assets	$85,011	14.4%
Other Income	$18,673	3.2%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$509,916	88.0%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$12,389,466
Total Liabilities	$0
Net Assets	$12,389,466

Compensation

Key Employees and Officers	Compensation	Other
Thomas J Formolo (President/Treasurer)	$0	$0
Elizabeth Douglas (Director)	$0	$0
Rich Miller (Director)	$0	$0
Hayley F Mans (Secretary)	$0	$0

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990-PF

Filed on Nov. 13, 2024

Primary tax return for a private foundation's activities, finances, and governance

View Filing

Schedules ▼

XML

990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2022

Revenue

$1,113,447

Expenses

$466,438

Net Income

$647,009

Net Assets

$12,376,207

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$1,451	0.1%
Dividends	$280,460	25.2%
Sales of Assets	$828,373	74.4%
Other Income	$3,163	0.3%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$401,547	86.1%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$12,376,207
Total Liabilities	$0
Net Assets	$12,376,207

Compensation

Key Employees and Officers	Compensation	Other
Thomas J Formolo (President/Treasurer)	$0	$0
Stephanie Andersen Formolo (Secretary)	$0	$0
Elizabeth Douglas (Director)	$0	$0

990-PF

Filed on Nov. 14, 2023

Primary tax return for a private foundation's activities, finances, and governance

View Filing

Schedules ▼

PDF XML

990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2021

Revenue

$3,532,677

Expenses

$886,682

Net Income

$2,645,995

Net Assets

$11,729,198

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$3,031,554	85.8%
Interest Revenue	$15,751	0.4%
Dividends	$207,538	5.9%
Sales of Assets	$289,803	8.2%
Other Income	-$11,969

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$860,846	97.1%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$11,729,198
Total Liabilities	$0
Net Assets	$11,729,198

Compensation

Key Employees and Officers	Compensation	Other
Thomas J Formolo (President/Treasurer)	$0	$0
Stephanie Andersen Formolo (Secretary)	$0	$0
Elizabeth Douglas (Director)	$0	$0

990-PF

Filed on Nov. 11, 2022

Primary tax return for a private foundation's activities, finances, and governance

View Filing

Schedules ▼

PDF XML

990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2020

Revenue

$2,289,087

Expenses

$682,436

Net Income

$1,606,651

Net Assets

$9,083,202

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$2,003,391	87.5%
Interest Revenue	$54,015	2.4%
Dividends	$114,830	5.0%
Sales of Assets	$130,754	5.7%
Other Income	-$13,903

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$668,780	98.0%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$9,083,203
Total Liabilities	$1
Net Assets	$9,083,202

Compensation

Key Employees and Officers	Compensation	Other
Thomas J Formolo (President/Treasurer)	$0	$0
Stephanie Andersen Formolo (Secretary)	$0	$0
Elizabeth Douglas (Director)	$0	$0

990-PF

Filed on Nov. 15, 2021

Primary tax return for a private foundation's activities, finances, and governance

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2019

Revenue

$890,990

Expenses

$563,479

Net Income

$327,511

Net Assets

$7,697,525

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$718,435	80.6%
Interest Revenue	$20,498	2.3%
Dividends	$129,618	14.5%
Sales of Assets	$0
Other Income	$69,198	7.8%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$534,539	94.9%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$7,697,526
Total Liabilities	$1
Net Assets	$7,697,525

Compensation

Key Employees and Officers	Compensation	Other
Thomas J Formolo (President/Treasurer)	$0	$0
Stephanie Andersen Formolo (Secretary)	$0	$0
Elizabeth Douglas (Director)	$0	$0

990-PF

Filed on Nov. 16, 2020

Primary tax return for a private foundation's activities, finances, and governance

View Filing

Schedules ▼

PDF XML

990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2018

Revenue

$1,733,733

Expenses

$400,846

Net Income

$1,332,887

Net Assets

$7,370,015

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$1,100,929	63.5%
Interest Revenue	$1,174	0.1%
Dividends	$108,977	6.3%
Sales of Assets	$345,807	19.9%
Other Income	$176,846	10.2%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$383,525	95.7%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$7,370,015
Total Liabilities	$0
Net Assets	$7,370,015

Compensation

Key Employees and Officers	Compensation	Other
Thomas J Formolo (President/Treasurer)	$0	$0
Stephanie Andersen Formolo (Secretary)	$0	$0
Elizabeth Douglas (Director)	$0	$0

990-PF

Filed on Nov. 14, 2019

Primary tax return for a private foundation's activities, finances, and governance

View Filing

Schedules ▼

PDF XML

990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2017

Revenue

$413,018

Expenses

$391,498

Net Income

$21,520

Net Assets

$6,037,128

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$130,122	31.5%
Interest Revenue	$1,557	0.4%
Dividends	$161,069	39.0%
Sales of Assets	$101,740	24.6%
Other Income	$18,530	4.5%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$369,017	94.3%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$6,037,128
Total Liabilities	$0
Net Assets	$6,037,128

Compensation

Key Employees and Officers	Compensation	Other
Thomas J Formolo (President/Treasurer)	$0	$0
Stephanie Andersen Formolo (Secretary)	$0	$0
Elizabeth Douglas (Director)	$0	$0

990-PF

Filed on Nov. 12, 2018

Primary tax return for a private foundation's activities, finances, and governance

View Filing

Schedules ▼

PDF XML

990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2016

Revenue

$2,160,446

Expenses

$273,344

Net Income

$1,887,102

Net Assets

$6,015,608

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$1,740,000	80.5%
Interest Revenue	$58	0.0%
Dividends	$99,885	4.6%
Sales of Assets	$323,380	15.0%
Other Income	-$2,877

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$255,666	93.5%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$6,015,608
Total Liabilities	$0
Net Assets	$6,015,608

Compensation

Key Employees and Officers	Compensation	Other
Thomas J Formolo (President/Treasurer)	$0	$0
Stephanie Andersen Formolo (Secretary)	$0	$0
Elizabeth Douglas (Director)	$0	$0

990-PF

Filed on Nov. 13, 2017

Primary tax return for a private foundation's activities, finances, and governance

View Filing

Schedules ▼

PDF XML

990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2015

Revenue

$1,553,833

Expenses

$173,290

Net Income

$1,380,543

Net Assets

$4,117,078

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$1,466,659	94.4%
Interest Revenue	$13	0.0%
Dividends	$90,697	5.8%
Sales of Assets	$2,854	0.2%
Other Income	-$6,390

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$161,099	93.0%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$4,117,078
Total Liabilities	$0
Net Assets	$4,117,078

Compensation

Key Employees and Officers	Compensation	Other
Thomas J Formolo (President/Treasurer)	$0	$0
Stephanie Andersen Formolo (Secretary)	$0	$0
Elizabeth Douglas (Director)	$0	$0

990-PF

Filed on Aug. 30, 2016

Primary tax return for a private foundation's activities, finances, and governance

View Filing

Schedules ▼

PDF XML

PDF (2 of 2)

990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2014

Revenue

$344,069

Expenses

$166,034

Net Income

$178,035

Net Assets

$2,736,839

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$228,816	66.5%
Interest Revenue	$27	0.0%
Dividends	$82,794	24.1%
Sales of Assets	$29,217	8.5%
Other Income	$3,215	0.9%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$153,325	92.3%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$2,736,839
Total Liabilities	$0
Net Assets	$2,736,839

Compensation

Key Employees and Officers	Compensation	Other
Thomas J Formolo (President/Treasurer)	$0	$0
Stephanie Andersen Formolo (Secretary)	$0	$0
Elizabeth Douglas (Director)	$0	$0

990-PF

Filed on Nov. 13, 2015

Primary tax return for a private foundation's activities, finances, and governance

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2013

Revenue

$170,963

Expenses

$156,417

Net Income

$14,546

Net Assets

$2,587,314

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$1,544	0.9%
Dividends	$81,110	47.4%
Sales of Assets	$89,086	52.1%
Other Income	-$777

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$145,763	93.2%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$2,587,314
Total Liabilities	$0
Net Assets	$2,587,314

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2012

Revenue

$209,385

Expenses

$147,618

Net Income

$61,767

Net Assets

$2,572,768

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$167,434	80.0%
Interest Revenue	$113	0.1%
Dividends	$42,220	20.2%
Sales of Assets	$3,172	1.5%
Other Income	-$3,554

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$128,184	86.8%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$2,572,768
Total Liabilities	$0
Net Assets	$2,572,768

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2011

Revenue

$158,337

Expenses

$98,933

Net Income

$59,404

Net Assets

$2,511,001

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$90,060	56.9%
Interest Revenue	$77	0.0%
Dividends	$46,292	29.2%
Sales of Assets	$26,694	16.9%
Other Income	-$4,786

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$89,408	90.4%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$2,511,001
Total Liabilities	$0
Net Assets	$2,511,001

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

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Andersen Formolo Family Foundation

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $616k (2024)

Expenses $806k (2024)

Total Assets $12M (2024)

Total Liabilities $0 (2024)

Tax Filings by Year

Fiscal Year Ending Dec. 2024

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2023

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

990-T

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

990-T

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

990-T

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

990-T

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

990-T

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

990-T

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

990-T

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

990-T

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Revenue

$616k (2024)

Expenses

$806k (2024)

Total Assets

$12M (2024)

Total Liabilities

$0 (2024)

Fiscal Year Ending Dec.
2024

Fiscal Year Ending Dec.
2023

Fiscal Year Ending Dec.
2022

Fiscal Year Ending Dec.
2021

Fiscal Year Ending Dec.
2020

Fiscal Year Ending Dec.
2019

Fiscal Year Ending Dec.
2018

Fiscal Year Ending Dec.
2017

Fiscal Year Ending Dec.
2016

Fiscal Year Ending Dec.
2015

Fiscal Year Ending Dec.
2014

Fiscal Year Ending Dec.
2013

Fiscal Year Ending Dec.
2012

Fiscal Year Ending Dec.
2011

Fiscal Year Ending Dec.
2010

Fiscal Year Ending Dec.
2009

Fiscal Year Ending Dec.
2008

Fiscal Year Ending Dec.
2007

Fiscal Year Ending Dec.
2006

Fiscal Year Ending Dec.
2005

Fiscal Year Ending Dec.
2004