Frank Jb & Emma S Varallo Foundation

CHATTANOOGA, TN EIN: 62-6225565

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

-66.7% YoY

Avg Grant Size

$900K

+237.1% YoY

Under IRS private-foundation payout rules, Frank Jb & Emma S Varallo Foundation reported a distributable amount of $1.3M for 2024 — the minimum it must pay out in qualifying distributions.

Research compiled by Grantable AI from public sources. Last updated April 2026.

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.

Ready to take the next step with Frank Jb & Emma S Varallo Foundation?

Assess fit for your org Draft an LOI Find open RFPs

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

Tennessee $2.8M (94%)

Maryland $132K (4%)

Georgia $20K (1%)

Colorado $10K (0%)

Wisconsin $6K (0%)

Missouri $2K (0%)

States

Colorado Georgia Maryland Missouri Tennessee Wisconsin

Cities

AntiochBaltimoreBrookhavenChattanoogaColorado SpringsFlintstoneHixsonKansas CityMadisonNashville

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

Revenue

Expenses

Qualifying Distributions

Net Investment Income

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

Among its reported 2024 grants, the largest include The Generosity Trust ($900,000).

Recipient	Purpose	Amount
THE GENEROSITY TRUST CHATTANOOGA, TN	OPERATING FUNDS	$900,000

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	—

Frequently Asked Questions

What does Frank Jb & Emma S Varallo Foundation fund?

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

How do I apply for a grant from Frank Jb & Emma S Varallo Foundation?

**Grant Activity:** • Total giving in 2023: $900,000 • Typical award range: $1,000–$900,000 • Number of grants made in 2023: 25 grants **Recent Grants:** • The Generosity Trust: $775,000 (Operating Funds, 2023) The foundation does not maintain a public website and does not publicly advertise grant opportunities or application procedures.

Where does Frank Jb & Emma S Varallo Foundation make 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.

What size grants does Frank Jb & Emma S Varallo Foundation award?

In 2024, Frank Jb & Emma S Varallo Foundation awarded 1 grants totaling $900K — an average of about $900K per grant, based on its IRS Form 990 filings.

How much is Frank Jb & Emma S Varallo Foundation required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, Frank Jb & Emma S Varallo Foundation reported a distributable amount of $1.3M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.

What is Frank Jb & Emma S Varallo Foundation's EIN?

Frank Jb & Emma S Varallo Foundation's EIN (Employer Identification Number) is 62-6225565. IRS Form 990 filing data is available on this page for 2020–2024.