Frank Jb & Emma S Varallo Foundation
The Frank JB & Emma S Varallo Foundation is a private foundation established in 1989 and based in Chattanooga, Tennessee. It operates as a 501(c)(3) tax-exempt organization with a focus on philanthropic grantmaking across multiple regions of the United States.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$24.1M
-2.4% YoY
Annual Giving
$900K
+12.4% YoY
Grant Count
1
-66.7% YoY
Avg Grant Size
$900K
+237.1% YoY
Mission & Focus Areas
The foundation does not maintain a publicly stated mission statement. Based on recent grantmaking activity, the foundation supports:
- Education
- Philanthropy, Voluntarism & Grantmaking
- Human Services
- Operating funds
- Scholarship programs
- Building rehabilitation and restoration
Grantmaking
The foundation does not maintain a public website and does not publicly advertise grant opportunities or application procedures.
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Geographic Focus
Where this funder awards grants
The foundation supports organizations across multiple U.S. locations, including:
- Antioch
- Baltimore
- Chattanooga
- Colorado Springs
- Flintstone
- Hixson
- Madison
- Nashville
The foundation operates in the states of Colorado, Georgia, Maryland, Tennessee, and Wisconsin.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
As of 2023:
- Total Assets: $24,668,348
- Total Revenues: $265,580
- Total Expenses: $1,048,392
- Total Liabilities: $0
Revenue Breakdown (2023):
- Investment income and dividends: $52,511
- Net gain from sale of non-inventory assets: $30,690
- Miscellaneous revenues: $182,379
Contact Information:
- Address: 629 Market St Ste 120, Chattanooga, TN 37402
- Telephone: 423-265-9510
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $24,076,711 | $24,668,348 | $25,501,160 |
| Revenue | $795,947 | $265,580 | $921,726 |
| Expenses | $1,387,584 | $1,048,392 | $1,705,922 |
| Qualifying Distributions | $940,360 | $842,560 | $672,575 |
| Net Investment Income | $559,227 | $15,104 | — |
| Distributable Amount | $1,250,236 | $978,256 | $806,105 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 1 recipients in 2024
Grant Size Distribution
97 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
The foundation's board includes:
- Joseph F. Decosimo (Chairman)
- Robert F. Decosimo (Secretary)
- Joseph D. Decosimo (Trustee)
- John T. Decosimo (Trustee)
The foundation is also known as "Decosimo Joseph F Et Al Co-Ttees."
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| JOSEPH F DECOSIMO | CHAIRMAN | 0.25 | — |
| ROBERT F DECOSIMO | SECRETARY | 23 | — |
| JOSEPH D DECOSIMO | TRUSTEE | 0.25 | — |
| JOHN T DECOSIMO | TRUSTEE | 0.25 | — |
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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