Frank J B & Emma S Varallo Foundation Tr

Decosimo Joseph F Et Al Co Ttees

Chattanooga, TN
Tax-exempt since Dec. 1989
EIN: 62-6225565

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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.

Donations to this organization are tax deductible.

Revenue

$796k (2024)

Expenses

$1.39M (2024)

Total Assets

$24.1M (2024)

Total Liabilities

$0 (2024)

Years with multiple filings

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

$795,947

Expenses

$1,387,584

Net Income

-$591,637

Net Assets

$24,076,711

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$165,612	20.8%
Sales of Assets	$454,952	57.2%
Other Income	$175,383	22.0%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$940,360	67.8%
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	$24,076,711
Total Liabilities	$0
Net Assets	$24,076,711

Compensation

Key Employees and Officers	Compensation	Other
Joseph F Decosimo (Chairman)	$0	$0
Robert F Decosimo (Secretary)	$0	$0
Joseph D Decosimo (Trustee)	$0	$0
John T Decosimo (Trustee)	$0	$0

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990-PF

Filed on Oct. 31, 2025

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

View Filing

Schedules ▼

XML

Fiscal Year Ending Dec.
2023

Revenue

$265,580

Expenses

$1,048,392

Net Income

-$782,812

Net Assets

$24,668,348

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$52,511	19.8%
Sales of Assets	$30,690	11.6%
Other Income	$182,379	68.7%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$842,560	80.4%
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	$24,668,348
Total Liabilities	$0
Net Assets	$24,668,348

Compensation

Key Employees and Officers	Compensation	Other
Joseph F Decosimo (Chairman)	$0	$0
Robert F Decosimo (Secretary)	$0	$0
Joseph D Decosimo (Trustee)	$0	$0
John T Decosimo (Trustee)	$0	$0

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990-PF

Filed on Nov. 15, 2024

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.
2022

Revenue

$921,726

Expenses

$1,705,922

Net Income

-$784,196

Net Assets

$25,501,160

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$28,748	3.1%
Sales of Assets	-$22,724
Other Income	$915,702	99.3%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$672,575	39.4%
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	$25,501,160
Total Liabilities	$0
Net Assets	$25,501,160

Compensation

Key Employees and Officers	Compensation	Other
Joseph F Decosimo (Chairman)	$0	$0
Robert F Decosimo (Secretary)	$0	$0
Joseph D Decosimo (Trustee)	$0	$0
John T Decosimo (Trustee)	$0	$0

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990-PF

Filed on Nov. 15, 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

$3,638,235

Expenses

$659,216

Net Income

$2,979,019

Net Assets

$26,285,356

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$102,378	2.8%
Sales of Assets	$769,461	21.1%
Other Income	$2,766,396	76.0%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$532,440	80.8%
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	$26,285,356
Total Liabilities	$0
Net Assets	$26,285,356

Compensation

Key Employees and Officers	Compensation	Other
Joseph F Decosimo (Chairman)	$0	$0
Robert F Decosimo (Secretary)	$0	$0
Joseph D Decosimo (Trustee)	$0	$0
John T Decosimo (Trustee)	$0	$0

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990-PF

Filed on Nov. 14, 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

$940,159

Expenses

$390,495

Net Income

$549,664

Net Assets

$23,306,336

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$96,729	10.3%
Sales of Assets	$0
Other Income	$904,054	96.2%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$263,850	67.6%
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	$23,306,337
Total Liabilities	$1
Net Assets	$23,306,336

Compensation

Key Employees and Officers	Compensation	Other
Joseph F Decosimo (Chairman)	$0	$0
Robert F Decosimo (Secretary)	$0	$0
Robert W Mason (Trustee)	$0	$0
Joseph D Decosimo (Trustee)	$0	$0

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990-PF

Filed on Dec. 15, 2021

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.
2019

Revenue

$358,376

Expenses

$65,200

Net Income

$293,176

Net Assets

$22,756,673

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$343,990	96.0%
Interest Revenue	$0
Dividends	$14,386	4.0%
Sales of Assets	$0
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$38,680	59.3%
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	$22,756,673
Total Liabilities	$0
Net Assets	$22,756,673

990-PF

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

PDF

990-T

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

PDF

Fiscal Year Ending Sept.
2019

Revenue

$522,744

Expenses

$343,010

Net Income

$179,734

Net Assets

$22,463,496

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$472,913	90.5%
Interest Revenue	$0
Dividends	$49,831	9.5%
Sales of Assets	$0
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$218,504	63.7%
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	$22,463,497
Total Liabilities	$1
Net Assets	$22,463,496

Compensation

Key Employees and Officers	Compensation	Other
Joseph F Decosimo (Chairman)	$0	$0
Robert F Decosimo (Secretary)	$0	$0
Robert W Mason (Trustee)	$0	$0

990-PF

Filed on Oct. 15, 2020

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 Sept.
2018

Revenue

$1,401,462

Expenses

$179,735

Net Income

$1,221,727

Net Assets

$22,228,415

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$1,347,165	96.1%
Interest Revenue	$0
Dividends	$21,645	1.5%
Sales of Assets	$32,652	2.3%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$122,746	68.3%
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	$22,228,415
Total Liabilities	$0
Net Assets	$22,228,415

Compensation

Key Employees and Officers	Compensation	Other
Joseph F Decosimo (Chairman)	$0	$0
Robert F Decosimo (Secretary)	$0	$0
Robert W Mason (Trustee)	$0	$0

990-PF

Filed on Aug. 14, 2019

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

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Sept.
2017

Revenue

$20,629,797

Expenses

$131,985

Net Income

$20,497,812

Net Assets

$20,905,235

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$20,559,949	99.7%
Interest Revenue	$0
Dividends	$11,486	0.1%
Sales of Assets	$58,362	0.3%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$106,346	80.6%
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	$20,905,235
Total Liabilities	$0
Net Assets	$20,905,235

Compensation

Key Employees and Officers	Compensation	Other
Joseph F Decosimo (Chairman)	$0	$0
Robert F Decosimo (Secretary)	$0	$0
Robert W Mason (Trustee)	$0	$0

990-PF

Filed on Aug. 15, 2018

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

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Sept.
2016

Revenue

$17,023

Expenses

$74,945

Net Income

-$57,922

Net Assets

$407,423

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$9,048	53.2%
Sales of Assets	$7,975	46.8%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$58,168	77.6%
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	$407,423
Total Liabilities	$0
Net Assets	$407,423

Compensation

Key Employees and Officers	Compensation	Other
Joseph F Decosimo (Chairman)	$0	$0
Robert F Decosimo (Secretary)	$0	$0
Robert W Mason (Trustee)	$0	$0

990-PF

Filed on Feb. 1, 2017

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

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Sept.
2015

Revenue

$11,736

Expenses

$124,099

Net Income

-$112,363

Net Assets

$465,345

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$11,888	> 100%
Sales of Assets	-$152
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$105,440	85.0%
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	$465,345
Total Liabilities	$0
Net Assets	$465,345

Compensation

Key Employees and Officers	Compensation	Other
Joseph F Decosimo (Chairman)	$0	$0
Robert F Decosimo (Secretary)	$0	$0
Robert W Mason (Trustee)	$0	$0

990-PF

Filed on Feb. 8, 2016

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

View Filing

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PDF XML

Fiscal Year Ending Sept.
2014

Revenue

$43,397

Expenses

$87,895

Net Income

-$44,498

Net Assets

$577,708

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$7,719	17.8%
Sales of Assets	$35,678	82.2%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$79,408	90.3%
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	$577,708
Total Liabilities	$0
Net Assets	$577,708

Compensation

Key Employees and Officers	Compensation	Other
Joseph F Decosimo (Chairman)	$0	$0
Robert F Decosimo (Secretary)	$0	$0
Robert W Mason (Trustee)	$0	$0

990-PF

Filed on Aug. 17, 2015

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

View Filing

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PDF XML

Fiscal Year Ending Sept.
2013

Revenue

$149,507

Expenses

$100,326

Net Income

$49,181

Net Assets

$622,205

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$143,500	96.0%
Interest Revenue	$0
Dividends	$5,506	3.7%
Sales of Assets	$501	0.3%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$92,181	91.9%
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	$622,206
Total Liabilities	$1
Net Assets	$622,205

990-PF

Filed on March 28, 2014

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

View Filing

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PDF XML

Fiscal Year Ending Sept.
2012

Revenue

$4,696

Expenses

$112,875

Net Income

-$108,179

Net Assets

$573,025

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$3,937	83.8%
Sales of Assets	$759	16.2%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$103,050	91.3%
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	$573,025
Total Liabilities	$0
Net Assets	$573,025

990-PF

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

PDF

Fiscal Year Ending Sept.
2011

Revenue

-$9,406

Expenses

$119,868

Net Income

-$129,274

Net Assets

$681,204

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$5,231
Sales of Assets	$0
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$112,545	93.9%
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	$681,204
Total Liabilities	$0
Net Assets	$681,204

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.

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Updated March 23, 2026

Frank J B & Emma S Varallo Foundation Tr

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $796k (2024)

Expenses $1.39M (2024)

Total Assets $24.1M (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

990-T

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Document Links

990-PF

990-T

Fiscal Year Ending Sept. 2019

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

990-T

Fiscal Year Ending Sept. 2018

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Sept. 2017

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Sept. 2016

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Sept. 2015

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Revenue

$796k (2024)

Expenses

$1.39M (2024)

Total Assets

$24.1M (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 Sept.
2019

Fiscal Year Ending Sept.
2018

Fiscal Year Ending Sept.
2017

Fiscal Year Ending Sept.
2016

Fiscal Year Ending Sept.
2015

Fiscal Year Ending Sept.
2014

Fiscal Year Ending Sept.
2013

Fiscal Year Ending Sept.
2012

Fiscal Year Ending Sept.
2011

Fiscal Year Ending Sept.
2010

Fiscal Year Ending Sept.
2009

Fiscal Year Ending Sept.
2008

Fiscal Year Ending Sept.
2007

Fiscal Year Ending Sept.
2006

Fiscal Year Ending Sept.
2005

Fiscal Year Ending Sept.
2004

Fiscal Year Ending Sept.
2003

Fiscal Year Ending Sept.
2002

Fiscal Year Ending Sept.
2001