Farano Scholarship Trust Co TOBIN&DEMPF
Farano Scholarship Trust Co TOBIN&DEMPF is a private foundation based in Albany, New York. Its 2025 filing reports scholarship grants to schools and other organizations in New York.
Key facts about Farano Scholarship Trust Co TOBIN&DEMPF
In short: Farano Scholarship Trust Co TOBIN&DEMPF gave $114K across 10 grants in 2025 (avg $11K), mostly in New York. Source: 2025 IRS Form 990-PF.
- EIN
- 82-6875780
- Latest 990 filing
- Form 990-PF, 2025
- Annual giving (2025)
- $114,000
- Grants made (2025)
- 10
- Average grant
- $11,400
- Median grant
- $6,000
- Total assets
- $1,681,158
- Primary geography
- New York (100% of itemized 2025 grant dollars)
- Accepts unsolicited proposals
- No
- How to apply
- The foundation does not accept unsolicited requests for funds and states that it makes contributions only to preselected charitable organizations. Full details ↓
Data from IRS Form 990-PF, 2025; updated September 2026. Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
$1.7M
+6.8% YoY
Annual Giving
$114K
+7.5% YoY
Grant Count
10
+11.1% YoY
Avg Grant Size
$11K
-3.2% YoY
Under IRS private-foundation payout rules, Farano Scholarship Trust Co TOBIN&DEMPF reported a distributable amount of $94K for 2025 — the minimum it must pay out in qualifying distributions.
How Farano Scholarship Trust Co TOBIN&DEMPF gives
- Giving held roughly steady from 2022 to 2025 (+12%). Method
- In 2025 it paid out 121% of its IRS minimum distribution (the 5% rule). Method
From the foundation's IRS Form 990-PF filings. Methodology.
Mission & Focus Areas
The available filing information does not state a mission. The 2025 grants were designated for scholarships and went to schools and the Office of Vicar for Vocations.
Grantmaking
In 2025, the foundation gave $114,000 through 10 grants. Grants ranged from $6,000 to $30,000, with a median of $6,000. Notable grants included $30,000 to Siena College, $24,000 to Blessed Sacrament School, and $12,000 each to St Pius X School and the Office of Vicar for Vocations.
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Geographic Focus
Where this funder awards grants
All grant dollars reported for 2025 went to recipients in New York.
Grant Distribution by State
Share of 2025 grant dollars across all 10 itemized grants.
States
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2025, annual grant giving ranged from $75K (2020) to $114K (2025). In 2025 it made 10 grants totaling $114K.
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Siena College ($30K). Together the top 10 received $114K.
Grant Size Distribution
44 grants across all recorded years
The most common grant size was under $50K: 44 grants of 44 (100%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Siena College Loudonville, NY | Scholarship | $30,000 |
| Blessed Sacrament School Albany, NY | Scholarship | $24,000 |
| St Pius X School Loudonville, NY | Scholarship | $12,000 |
| Office of Vicar for Vocations Albany, NY | Scholarship | $12,000 |
| Catholic Central School Latham, NY | Scholarship | $6,000 |
| St Kateri Tekakwitha Parish School Schenectady, NY | Scholarship | $6,000 |
| St Mary'sst Alphonsus Regional School Glens Falls, NY | Scholarship | $6,000 |
| St Thomas the Apostle School Delmar, NY | Scholarship | $6,000 |
| Mater Christi School Albany, NY | Scholarship | $6,000 |
| St Mary's School Waterford, NY | Scholarship | $6,000 |
Financial History
Multi-year comparison from IRS filings
| Filing year | Assets | Revenue | Expenses | Grants |
|---|---|---|---|---|
| 2025 | $1,681,158 | $256,646 | $149,420 | $114,000 (10 grants) |
| 2024 | $1,573,932 | $97,186 | $140,520 | $106,000 (9 grants) |
| 2023 | $1,617,266 | $98,030 | $135,580 | $102,000 (9 grants) |
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $1,681,158 | $1,573,932 | $1,617,266 |
| Revenue | $256,646 | $97,186 | $98,030 |
| Expenses | $149,420 | $140,520 | $135,580 |
| Qualifying Distributions | $114,000 | $106,000 | $102,000 |
| Net Investment Income | $224,521 | $64,983 | $66,714 |
| Distributable Amount | $94,190 | $92,776 | $85,801 |
Data update history
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2020 (received by the IRS August 3, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS May 16, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 12, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS May 15, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS May 5, 2025)
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 6, 2026)
Leadership & Key People
Leadership team and compensation from IRS filings
Michael Costello is listed as a trustee on the 2025 filing.
Farano Scholarship Trust Co TOBIN&DEMPF is led by Michael Costello, Trustee on every filing since 2021 — the only officer listed, and compensated.
Officers on the 2025 filing
Michael Costello
Trustee
On filings since 2021
3 hrs/week
$10K (2022) → $10K (2025)
Former officers (1)
- Former: Michael Farano (2020) — Trustee
Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $10K, to Michael Costello (Trustee).
Contact
Mailing address: 515 Broadway, Albany, NY 12207
Phone: (518) 463-1177
Frequently asked questions about Farano Scholarship Trust Co TOBIN&DEMPF
How much does Farano Scholarship Trust Co TOBIN&DEMPF give each year?
Farano Scholarship Trust Co TOBIN&DEMPF gave $114K across 10 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $106K across 9 grants.
What is Farano Scholarship Trust Co TOBIN&DEMPF's typical grant size?
Farano Scholarship Trust Co TOBIN&DEMPF's median grant in 2025 was $6,000, and its average grant was $11,400, across 10 grants on its 2025 IRS Form 990-PF.
Where does Farano Scholarship Trust Co TOBIN&DEMPF give grants?
Farano Scholarship Trust Co TOBIN&DEMPF gives mostly in New York: 100% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Albany, NY (3 grants) and Loudonville, NY (2 grants).
Does Farano Scholarship Trust Co TOBIN&DEMPF give general operating support?
Not in 2025: none of the 10 grants with a stated purpose on Farano Scholarship Trust Co TOBIN&DEMPF's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Scholarship" (10 grants).
Who are Farano Scholarship Trust Co TOBIN&DEMPF's largest grantees?
Farano Scholarship Trust Co TOBIN&DEMPF's largest 2025 grantees include Siena College ($30,000), Blessed Sacrament School ($24,000) and St Pius X School ($12,000), according to its 2025 IRS Form 990-PF. Together they received 58% of its itemized 2025 grant dollars.
How large is Farano Scholarship Trust Co TOBIN&DEMPF?
Farano Scholarship Trust Co TOBIN&DEMPF reported $1.7M in total assets on its 2025 IRS Form 990-PF. It paid out $114K in qualifying distributions that year, against a required minimum of $94K (roughly 5% of its investment assets).
What does Farano Scholarship Trust Co TOBIN&DEMPF fund?
The available filing information does not state a mission. The 2025 grants were designated for scholarships and went to schools and the Office of Vicar for Vocations. See mission & focus areas ↑
How do I apply for a grant from Farano Scholarship Trust Co TOBIN&DEMPF?
The foundation does not accept unsolicited requests for funds and states that it makes contributions only to preselected charitable organizations. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Farano Scholarship Trust Co TOBIN&DEMPF's EIN?
Farano Scholarship Trust Co TOBIN&DEMPF's EIN (Employer Identification Number) is 82-6875780. IRS Form 990 filing data is available on this page for 2020–2025.
Does Farano Scholarship Trust Co TOBIN&DEMPF accept unsolicited proposals?
No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
Data last updated September 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
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