The Peter J Palermo Trust Under Agreement
The Peter J Palermo Trust Under Agreement is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in ITHACA, NY. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $2.7M in total assets. In 2024, it awarded 3 grants totaling $90K. Net investment income was $266K.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$2.7M
+5.6% YoY
Annual Giving
$90K
+800.0% YoY
Grant Count
3
+200.0% YoY
Avg Grant Size
$30K
+200.0% YoY
Under IRS private-foundation payout rules, The Peter J Palermo Trust Under Agreement reported a distributable amount of $133K for 2024 — the minimum it must pay out in qualifying distributions.
About The Peter J Palermo Trust Under Agreement
Based on IRS filings
The Peter J Palermo Trust Under Agreement is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in ITHACA, NY. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $2.7M in total assets. In 2024, it awarded 3 grants totaling $90K. Net investment income was $266K.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $2,655,344 | $2,513,450 | $2,521,322 |
| Revenue | $281,907 | $35,675 | $-38,856 |
| Expenses | $117,582 | $72,444 | $87,451 |
| Qualifying Distributions | $91,500 | $49,504 | $51,840 |
| Net Investment Income | $266,039 | $45,471 | $27,550 |
| Distributable Amount | $133,240 | $125,258 | $126,446 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 3 recipients in 2024
Grant Size Distribution
31 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include All Saints Catholic Academy ($40,000), Siena College ($30,000), Suny New Paltz ($20,000).
| Recipient | Purpose | Amount |
|---|---|---|
| SUNY NEW PALTZ New Paltz, NY | SCHOLARSHIPS | $20,000 |
| SIENA COLLEGE SIENA, NY | SCHOLARSHIP | $30,000 |
| ALL SAINTS CATHOLIC ACADEMY ALBANY, NY | UNRESTRICTED GENERAL | $40,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| BANK OF AMERICA | TRUSTEE | 1 | $3,534 |
| TOMPKINS COMMUNITY BANK | TRUSTEE | 1 | $22,001 |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is The Peter J Palermo Trust Under Agreement?
The Peter J Palermo Trust Under Agreement is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in ITHACA, NY. It holds $2.7M in total assets as of 2024.
How large is The Peter J Palermo Trust Under Agreement?
As of 2024, The Peter J Palermo Trust Under Agreement holds $2.7M in total assets with $282K in annual revenue. It awarded 3 grants totaling $90K in 2024.
Where does The Peter J Palermo Trust Under Agreement operate?
The Peter J Palermo Trust Under Agreement has awarded grants in New York.
What size grants does The Peter J Palermo Trust Under Agreement award?
In 2024, The Peter J Palermo Trust Under Agreement awarded 3 grants totaling $90K — an average of about $30K per grant, based on its IRS Form 990 filings.
How much is The Peter J Palermo Trust Under Agreement required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, The Peter J Palermo Trust Under Agreement reported a distributable amount of $133K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is The Peter J Palermo Trust Under Agreement's EIN?
The Peter J Palermo Trust Under Agreement's EIN (Employer Identification Number) is 54-6898253. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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