Philip V Fava and Nancy Owen D Fava
Philip V Fava and Nancy Owen D Fava is a private foundation, based in Whippany, NJ. IRS filing data is available from 2020 through 2023. In 2023, it awarded 3 grants totaling $330K. Net investment income was $11K.
Philip V Fava and Nancy Owen D Fava at a glance
In short: Philip V Fava and Nancy Owen D Fava gave $330K across 3 grants in 2023 (avg $110K), mostly in Massachusetts. Source: 2023 IRS Form 990-PF.
- Annual giving (2023)
- $330,000
- -78.9% vs 2022
- Grants made (2023)
- 3
- +0.0% vs 2022
- Average grant
- $110,000
- -78.9% vs 2022
- Median grant
- $82,500
- Primary geography
- Massachusetts (50% of itemized 2023 grant dollars)
- Latest 990 filing
- Form 990-PF, 2023 View filing
Data from IRS Form 990-PF, 2023; updated September 2026.
Who Philip V Fava and Nancy Owen D Fava funds
How this funder distributes its grants
Top Recipients
Top 3 recipients in 2023
The largest 2023 recipient was Tufts Universtiy School of Medicine ($165K). Together the top 3 received $330K.
Grant Size Distribution
12 grants across all recorded years
The most common grant size was under $50K: 6 grants of 12 (50%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2023 grant dollars across all 3 itemized grants.
Cities
How Philip V Fava and Nancy Owen D Fava gives
- Giving grew 375% from 2020 to 2023. Method
- In 2023 it paid out well above its IRS minimum distribution (the 5% rule). Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2023, annual grant giving ranged from $70K (2020) to $1.6M (2022). In 2023 it made 3 grants totaling $330K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Tufts Universtiy School of Medicine Boston, MA | General Support | $165,000 |
| Caldwell College Caldwell, NJ | General Support | $82,500 |
| Blackburn College Carlinville, IL | General Support | $82,500 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2023 | — | $11,550 | $383,485 | $330,000 | 3 | $368,727 | $10,576 | $18,236 |
| 2022 | $396,321 | $508,915 | $1,610,753 | $1,560,915 | 3 | $1,596,264 | $495,844 | $75,135 |
| 2021 | $1,498,444 | $153,161 | $133,855 | $95,000 | 3 | $108,298 | $125,904 | $107,600 |
| 2020 | $1,481,040 | $132,918 | $101,805 | $69,500 | 3 | — | $109,104 | $93,401 |
Under IRS private-foundation payout rules, Philip V Fava and Nancy Owen D Fava reported a distributable amount of $18K for 2023 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Philip V Fava and Nancy Owen D Fava's 2023 filing lists 2 officers; all 2 officers listed in 2023 are compensated.
Officers on the 2023 filing
Dominick De Cicco
Co-Trustee
On filings since 2020
1 hr/week
$5K (2020) → $13K (2023)
Joyce Del Sordo
Co-Trustee
On filings since 2020
1 hr/week
$5K (2020) → $13K (2023)
Data from IRS Form 990 filings, 2020–2023. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2023 IRS filing
The highest reported compensation on the 2023 filing was $13K, to Dominick De Cicco (Co-Trustee). 2 officers or directors reported compensation on that filing.
Frequently asked questions about Philip V Fava and Nancy Owen D Fava
How much does Philip V Fava and Nancy Owen D Fava give each year?
Philip V Fava and Nancy Owen D Fava gave $330K across 3 grants in 2023, according to its 2023 IRS Form 990-PF. In 2022 it gave $1.6M across 3 grants.
What is Philip V Fava and Nancy Owen D Fava's typical grant size?
Philip V Fava and Nancy Owen D Fava's median grant in 2023 was $82,500, and its average grant was $110,000, across 3 grants on its 2023 IRS Form 990-PF.
Where does Philip V Fava and Nancy Owen D Fava give grants?
Philip V Fava and Nancy Owen D Fava gives mostly in Massachusetts: 50% of the grant dollars itemized on its 2023 IRS Form 990-PF went to recipients there. The next largest states were New Jersey (25%) and Illinois (25%).
Does Philip V Fava and Nancy Owen D Fava give general operating support?
Yes: 100% of Philip V Fava and Nancy Owen D Fava's 2023 grants with a stated purpose (3 of 3) were for general or operating support, per its 2023 IRS Form 990-PF.
How much is Philip V Fava and Nancy Owen D Fava required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2023, Philip V Fava and Nancy Owen D Fava reported a distributable amount of $18K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Philip V Fava and Nancy Owen D Fava's EIN?
Philip V Fava and Nancy Owen D Fava's EIN (Employer Identification Number) is 23-7149743. IRS Form 990 filing data is available on this page for 2020–2023.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2023
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