Frank V Sica and Colleen McMahon Foundation
Frank V Sica and Colleen McMahon Foundation is a private foundation, based in Marlboro, NJ. IRS filing data is available from 2019 through 2024. As of 2024, the organization holds $181K in total assets. In 2024, it awarded 6 grants totaling $735K. Net investment income was $150K.
Key facts about Frank V Sica and Colleen McMahon Foundation
In short: Frank V Sica and Colleen McMahon Foundation gave $735K across 6 grants in 2024 (avg $123K), top state New York. Source: 2024 IRS Form 990-PF.
- EIN
- 31-6651857
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $735,000
- Grants made (2024)
- 6
- Average grant
- $122,500
- Median grant
- $95,000
- Total assets
- $180,626
- Primary geography
- New York (48% of itemized 2024 grant dollars)
Data from IRS Form 990-PF, 2024; updated October 2026.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$181K
-72.1% YoY
Annual Giving
$735K
+144.2% YoY
Grant Count
6
+100.0% YoY
Avg Grant Size
$123K
+22.1% YoY
Under IRS private-foundation payout rules, Frank V Sica and Colleen McMahon Foundation reported a distributable amount of $20K for 2024 — the minimum it must pay out in qualifying distributions.
How Frank V Sica and Colleen McMahon Foundation gives
- In 2024 it paid out well above its IRS minimum distribution (the 5% rule). Method
From the foundation's IRS Form 990-PF filings. Methodology.
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2024 grant dollars across all 6 itemized grants.
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2024, annual grant giving ranged from $281K (2019) to $1.4M (2022). In 2024 it made 6 grants totaling $735K.
*2021: Covers 13 months (fiscal year-end changed).
Grant Insights
How this funder distributes its grants
Top Recipients
Top 6 recipients in 2024
The largest 2024 recipient was Ohio State University ($250K). Together the top 6 received $735K.
Grant Size Distribution
35 grants across all recorded years
The most common grant size was under $50K: 11 grants of 35 (31%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Ohio State University Columbus, OH | Colleen McMahon Faculty Excellence Fund in Music | $250,000 |
| Center for Employment OPP-CEO New York, NY | Unrestricted | $250,000 |
| Concern Worldwide New York, NY | Unrestricted | $100,000 |
| Catholic Academy of Bridgeport Bridgeport, CT | St Joan Magnetti Schlorship Fund | $90,000 |
| The National Italian American Found Washington, DC | Unrestircted | $25,000 |
| Fairfield College Preparatory Schoo Fairfield, CT | Fairfiled Prep Fund | $20,000 |
Financial History
Multi-year comparison from IRS filings
*2021: Covers 13 months (fiscal year-end changed).
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $180,626 | $646,763 | $130,225 |
| Revenue | $282,709 | $841,650 | $1,411,900 |
| Expenses | $735,050 | $304,300 | $1,373,250 |
| Qualifying Distributions | $735,000 | $301,000 | $1,370,000 |
| Net Investment Income | $150,059 | $254,988 | $118,208 |
| Distributable Amount | $20,430 | $7,781 | $13,301 |
Data update history
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2019 (received by the IRS September 10, 2020)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS December 13, 2023)
- IRS filings on file for fiscal years 2019–2024
Leadership & Key People
Officers and directors from IRS filings
Frank V Sica and Colleen McMahon Foundation's 2024 filing lists 2 officers; none of the 2 officers listed in 2024 report compensation.
Officers on the 2024 filing
Colleen McMahon
Trustee
On filings since 2019
No compensation reported
Frank V. Sica
Trustee
On filings since 2019
No compensation reported
Data from IRS Form 990 filings, 2019–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about Frank V Sica and Colleen McMahon Foundation
How much does Frank V Sica and Colleen McMahon Foundation give each year?
Frank V Sica and Colleen McMahon Foundation gave $735K across 6 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $301K across 3 grants.
What is Frank V Sica and Colleen McMahon Foundation's typical grant size?
Frank V Sica and Colleen McMahon Foundation's median grant in 2024 was $95,000, and its average grant was $122,500, across 6 grants on its 2024 IRS Form 990-PF.
Where does Frank V Sica and Colleen McMahon Foundation give grants?
Frank V Sica and Colleen McMahon Foundation's top state is New York, with 48% of the grant dollars itemized on its 2024 IRS Form 990-PF. The next largest states were Ohio (34%) and Connecticut (15%). The most frequent recipient cities were New York, NY (2 grants).
Does Frank V Sica and Colleen McMahon Foundation give general operating support?
Yes: 33% of Frank V Sica and Colleen McMahon Foundation's 2024 grants with a stated purpose (2 of 6) were for general or operating support, per its 2024 IRS Form 990-PF.
Who are Frank V Sica and Colleen McMahon Foundation's largest grantees?
Frank V Sica and Colleen McMahon Foundation's largest 2024 grantees include Ohio State University ($250,000), Center for Employment OPP-CEO ($250,000) and Concern Worldwide ($100,000), according to its 2024 IRS Form 990-PF. Together they received 82% of its itemized 2024 grant dollars.
How large is Frank V Sica and Colleen McMahon Foundation?
Frank V Sica and Colleen McMahon Foundation reported $181K in total assets on its 2024 IRS Form 990-PF. It paid out $735K in qualifying distributions that year, against a required minimum of $20K (roughly 5% of its investment assets).
What is Frank V Sica and Colleen McMahon Foundation's EIN?
Frank V Sica and Colleen McMahon Foundation's EIN (Employer Identification Number) is 31-6651857. IRS Form 990 filing data is available on this page for 2019–2024.
Data last updated October 2026. Sourced from IRS Form 990-PF filings.
Here's the math on researching Frank V Sica and Colleen McMahon Foundation by hand.
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