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Pettit Foundation

Organization summary

Type of Nonprofit

Designated as a 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.

Summary charts: organization finances over time

Revenue
$1.73M (2023)

Expenses
$2.19M (2023)

Total Assets
$42.4M (2023)

Total Liabilities
$0 (2023)

Source: Form 990 tax filings from 2011 to 2023

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.
2023

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$1,731,273
Expenses
$2,193,958
Net Income
-$462,685
Net Assets
$42,435,954
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $294,324
17.0%
Interest Revenue $185,043
10.7%
Dividends $975,691
56.4%
Sales of Assets $276,215
16.0%
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $2,134,650
97.3%
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 $42,435,954
Total Liabilities $0
Net Assets $42,435,954
Compensation
Key Employees and Officers Compensation Other
Nancy Furlotti (President) $0 $0
Allison Furlotti (Secretary) $0 $0
Patrick Furlotti (Director) $0 $0
Michael Furlotti (Treasurer) $0 $0

Document Links

Fiscal Year Ending Dec.
2022

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$1,237,187
Expenses
$1,561,691
Net Income
-$324,504
Net Assets
$38,335,928
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $0
Interest Revenue $147,296
11.9%
Dividends $933,290
75.4%
Sales of Assets $156,601
12.7%
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $1,483,630
95.0%
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 $38,608,858
Total Liabilities $272,930
Net Assets $38,335,928
Compensation
Key Employees and Officers Compensation Other
Nancy Furlotti (President) $0 $0
Allison Furlotti (Secretary) $0 $0
Patrick Furlotti (Director) $0 $0
Michael Furlotti (Treasurer) $0 $0

Document Links

Fiscal Year Ending Dec.
2021

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$1,118,871
Expenses
$1,742,203
Net Income
-$623,332
Net Assets
$46,590,262
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $0
Interest Revenue $177,551
15.9%
Dividends $835,440
74.7%
Sales of Assets $105,880
9.5%
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $1,670,418
95.9%
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 $46,602,426
Total Liabilities $12,164
Net Assets $46,590,262
Compensation
Key Employees and Officers Compensation Other
Nancy Furlotti (President) $0 $0
Allison Furlotti (Secretary) $0 $0
Patrick Furlotti (Director) $0 $0
Michael Furlotti (Treasurer) $0 $0

Document Links

Fiscal Year Ending Dec.
2020

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$3,246,172
Expenses
$2,125,835
Net Income
$1,120,337
Net Assets
$42,053,905
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $2,309,822
71.2%
Interest Revenue $170,232
5.2%
Dividends $766,118
23.6%
Sales of Assets $0
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $2,076,913
97.7%
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 $42,326,835
Total Liabilities $272,930
Net Assets $42,053,905
Compensation
Key Employees and Officers Compensation Other
Nancy Furlotti (President) $0 $0
Allison Furlotti (Secretary) $0 $0
Patrick Furlotti (Director) $0 $0
Michael Furlotti (Treasurer) $0 $0

Document Links

Fiscal Year Ending Dec.
2019

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$4,030,376
Expenses
$1,547,366
Net Income
$2,483,010
Net Assets
$37,644,344
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $260,766
6.5%
Interest Revenue $246,965
6.1%
Dividends $1,041,605
25.8%
Sales of Assets $2,481,040
61.6%
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $1,510,084
97.6%
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 $37,985,362
Total Liabilities $341,018
Net Assets $37,644,344

Document Links

Fiscal Year Ending Dec.
2018

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$1,504,578
Expenses
$1,730,673
Net Income
-$226,095
Net Assets
$33,882,504
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $0
Interest Revenue $113,358
7.5%
Dividends $1,275,405
84.8%
Sales of Assets $115,815
7.7%
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $1,683,500
97.3%
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 $34,349,862
Total Liabilities $467,358
Net Assets $33,882,504

Document Links

Fiscal Year Ending Dec.
2017

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$1,764,156
Expenses
$1,521,194
Net Income
$242,962
Net Assets
$39,501,238
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $0
Interest Revenue $123,157
7.0%
Dividends $1,190,277
67.5%
Sales of Assets $450,722
25.5%
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $1,477,500
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 $39,828,019
Total Liabilities $326,781
Net Assets $39,501,238
Compensation
Key Employees and Officers Compensation Other
Nancy Furlotti (President) $0 $0
Allison Furlotti (Secretary) $0 $0
Patrick Furlotti (Director) $0 $0
Michael Furlotti (Treasurer) $0 $0

Document Links

Fiscal Year Ending Dec.
2016

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$1,309,047
Expenses
$1,708,308
Net Income
-$399,261
Net Assets
$31,868,286
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $0
Interest Revenue $221,772
16.9%
Dividends $1,004,973
76.8%
Sales of Assets $82,302
6.3%
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $1,664,142
97.4%
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 $32,133,011
Total Liabilities $264,725
Net Assets $31,868,286
Compensation
Key Employees and Officers Compensation Other
Nancy Furlotti (President) $0 $0
Allison Furlotti (Secretary) $0 $0
Patrick Furlotti (Director) $0 $0
Michael Furlotti (Treasurer) $0 $0

Document Links

Fiscal Year Ending Dec.
2015

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$1,052,997
Expenses
$1,625,184
Net Income
-$572,187
Net Assets
$31,813,493
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $0
Interest Revenue $208,708
19.8%
Dividends $965,525
91.7%
Sales of Assets -$121,236
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $1,581,825
97.3%
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 $32,422,532
Total Liabilities $609,039
Net Assets $31,813,493
Compensation
Key Employees and Officers Compensation Other
Nancy Furlotti (President) $0 $0
Allison Furlotti (Secretary) $0 $0
Patrick Furlotti (Director) $0 $0
Michael Furlotti (Treasurer) $0 $0
Alex Furlotti (Director) $0 $0

Document Links

Fiscal Year Ending Dec.
2014

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$1,210,201
Expenses
$1,798,347
Net Income
-$588,146
Net Assets
$33,615,346
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $0
Interest Revenue $87,981
7.3%
Dividends $914,644
75.6%
Sales of Assets $207,576
17.2%
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $1,751,101
97.4%
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 $34,241,050
Total Liabilities $625,704
Net Assets $33,615,346

Document Links

Fiscal Year Ending Dec.
2013

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$736,627
Expenses
$1,740,137
Net Income
-$1,003,510
Net Assets
$33,049,669
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $0
Interest Revenue $141,808
19.3%
Dividends $988,777
> 100%
Sales of Assets -$393,958
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $1,671,129
96.0%
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 $33,791,175
Total Liabilities $741,506
Net Assets $33,049,669
Compensation
Key Employees and Officers Compensation Other
Nancy Furlotti (President) $0 $0
Allison Furlotti (Secretary) $0 $0
Patrick Furlotti (Director) $0 $0
Michael Furlotti (Treasurer) $0 $0
Alex Furlotti (Director) $0 $0

Document Links

Fiscal Year Ending Dec.
2012

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$1,942,132
Expenses
$1,723,169
Net Income
$218,963
Net Assets
$33,543,962
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $10,000
0.5%
Interest Revenue $637,902
32.8%
Dividends $1,026,070
52.8%
Sales of Assets $268,160
13.8%
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $1,596,066
92.6%
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 $33,726,439
Total Liabilities $182,477
Net Assets $33,543,962

Document Links

Fiscal Year Ending Dec.
2011

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$1,161,746
Expenses
$1,002,124
Net Income
$159,622
Net Assets
$33,324,999
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $0
Interest Revenue $131,478
11.3%
Dividends $1,030,268
88.7%
Sales of Assets $0
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $936,500
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 $33,785,176
Total Liabilities $460,177
Net Assets $33,324,999

Document Links

Fiscal Year Ending Dec.
2010

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2009

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

About This Data

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

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

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Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

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