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
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.
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
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.
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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