Petrucci Family Foundation Inc is a private foundation established in 2004 and based in Asbury, New Jersey. The foundation operates as a 501(c)(3) organization with tax-exempt status since April 2006. Beyond traditional grantmaking, the foundation maintains and publicly shares the Petrucci Family Foundation Collection of African American Art, positioning itself as a curator of African American artistic heritage and a supporter of educational and cultural initiatives.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$20.8M
+10.7% YoY
Annual Giving
$681K
-11.0% YoY
Grant Count
45
-2.2% YoY
Avg Grant Size
$15K
-9.0% YoY
Mission & Focus Areas
The foundation's collection initiative aims to "bring focus to the full range of African-American Art, aiming to reconcile the divide separating Black art from the American canon."
Primary funding focus areas include:
- Education
- Science and STEM education
- Philanthropy, voluntarism, and grantmaking
- Human services
- Arts and culture (particularly African American art)
Grantmaking
The foundation operates with preselected grantees only and maintains limited staffing, indicating a more selective and family-directed grantmaking approach rather than an open application process.
Grant Range
$1,000 to $239,000
Average Grant
amount reported in recent filings
How to Apply
.
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Geographic Focus
Where this funder awards grants
The foundation primarily funds organizations in:
- New Jersey
- Pennsylvania
- New York
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Assets & Giving (2024):
- Total assets: $20,835,363
- Total giving: $680,678
- Assets rank in top 10% of foundations nationally
Historical Financial Data (2022):
- Total assets: $18.6 million
- Revenue: $316,000
- Expenses: $1.19 million
- Total liabilities: $0
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $20,835,363 | $18,826,952 | $18,587,547 |
| Revenue | $2,440,476 | $-164,659 | $315,878 |
| Expenses | $731,006 | $780,448 | $1,193,250 |
| Qualifying Distributions | $682,974 | $764,794 | $1,106,256 |
| Net Investment Income | $397,011 | $372,117 | $252,978 |
| Distributable Amount | $608,459 | $619,375 | $661,067 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
206 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 is governed by part-time trustees with minimal compensation:
- James G Petrucci (Trustee, 5 hours/week)
- Jeanne Petrucci (Trustee, 5 hours/week)
- Emilia Rose Sochovka (Trustee, 5 hours/week)
- Joseph Ronald James Petrucci (Trustee, 5 hours/week)
- Michael Petrecca (Trustee, 1 hour/week)
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| JAMES G PETRUCCI | TRUSTEE - P/T | 5 | — |
| JEANNE PETRUCCI | TRUSTEE - P/T | 5 | — |
| EMILIA ROSE SOCHOVKA | TRUSTEE - P/T | 5 | — |
| JOSEPH RONALD JAMES PETRUCCI | TRUSTEE - P/T | 5 | — |
| MICHAEL PETRECCA | TRUSTEE - P/T | 1 | — |
Recent News & Activity
Recent developments and announcements
The foundation has been active in recognizing academic achievement and supporting educational initiatives:
Petrucci Family Foundation has celebrated and honored top scholars at Irvington High School, hosting recognition events at the Newark Museum of Art
Petrucci Family Foundation Celebrates Irvington High School\u2019s Top Scholars\The foundation offers summer research grants through partnerships with academic institutions, including the Black Studies Program at Swarthmore College
Black Studies Program announces recipients of Petrucci Family FoundationThe foundation's art collection maintains active rotating exhibitions and viewing rooms, including recent exhibitions on Afro-Caribbean art, works by artists such as Adger Cowans, Martha Jackson-Jarvis, and Tokie Rome-Taylor, and partnerships with institutions like Lehigh University
Contact Information
Address: 171 Route 173, Suite 201, Asbury, NJ 08802
Phone: 908-730-6909
Website: www.petruccifamilyfoundation.com
Subject Areas
Focus areas based on grantmaking activity
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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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