Piasc Foundation Inc.

Piasc Foundation Inc. is, functionally, a brand-new private foundation with almost no operating grant history: IRS records show a ruling date of June 2024 and exactly one recorded disbursement — a $200 grant for 'Charitable' purposes to the Princeton Police Department in fiscal year 2024. There is no mission statement, no published programs, no application process, and no typical grant size on file with the IRS or on the affiliated website. The entity shares its registered address (8 Founders Lane, Princeton, NJ 08540) with the Princeton Italian-American Foundation/Sportsmen's Club (PIASC), a longstanding Italian-heritage cultural and social organization that operates a clubhouse and event venue (the 'Oak Room') at that same address and hosts events like wine tastings and heritage celebrations. This strongly suggests Piasc Foundation Inc. is a newly created charitable/endowment vehicle tied to that club — likely seeded by a large one-time contribution (just over $9.06 million received in FY2024) rather than an active, outward-facing grants program serving external nonprofits nationally or even regionally. First-time applicants should treat this as a cold-outreach situation, not a mature funder relationship: there is no LOI-to-full-proposal pipeline to reverse-engineer because no such pipeline has been observed in the data. The most productive approach is personal, direct contact with the foundation's listed contact, Mario Mangone ('% Mario Mangone' per IRS filings), briefly explaining alignment with Italian-American heritage, Princeton-area community development, or civic/public-safety causes (the one known grant went to a police department), rather than submitting a generic unsolicited proposal. Organizations most likely to be favored, based on the sole data point available, are hyper-local Princeton-area civic and community institutions rather than national or issue-based nonprofits. Because the foundation is classified under NTEE code A12 (Arts & Culture) but its only real-world grant was civic/public-safety in nature, applicants should not over-index on the arts-and-culture label alone — it likely reflects an IRS classification default rather than a demonstrated funding focus.

The data available covers a single fiscal year (FY2024) and a single grant, so statistically meaningful patterns cannot be derived — this must be stated plainly rather than inferred from too small a sample. Total giving in FY2024 was $200, against total assets of $8,972,704 and total revenue of $9,078,703 (driven almost entirely by $9,056,118 in contributions received that year, plus $5,145 in net investment income). That means the foundation paid out roughly 0.002% of its assets in FY2024 — far below the ~5% annual distribution requirement the IRS typically expects of private foundations over time, which is unsurprising for an organization in its first year of operation still building out governance and a giving program. The one recorded grant ($200 to the Princeton Police Department, 'Charitable' purpose, 100% of all dollars granted and 100% of grantees by state — New Jersey) gives an average and median grant size of exactly $200, but this single data point should not be extrapolated into a 'typical grant size' for planning purposes. No breakdown by program area is possible beyond noting the sole grant was civic/public-safety in nature, not arts-and-culture despite the NTEE classification. No geographic breakdown exists beyond the fact that the only grantee was in New Jersey, consistent with the foundation's Princeton address. Because the foundation only recently received its large contribution and has not yet built a multi-year giving track record, applicants should expect that any future grantmaking capacity (potentially in the low hundreds of thousands of dollars annually if it begins distributing near the ~5% federal minimum on ~$9M in assets) has not yet materialized in practice. Prospective applicants should monitor the foundation's next Form 990-PF filing (covering FY2025) for evidence of an expanded, more representative giving pattern before assuming any specific dollar range is attainable.

Piasc Foundation Inc. sits within a small cluster of similarly asset-sized private foundations classified under Arts & Culture, though — unlike its peers — it has essentially no observed grant history to compare against.

All six organizations cluster tightly around $8.8-9.1 million in assets and share an Arts & Culture NTEE classification, making them a reasonable peer set by size and sector code — however, the data bundle does not include annual giving figures for the five peers, so a like-for-like payout comparison is not possible from this dataset alone. What differentiates Piasc Foundation Inc. within this set is its extreme youth (a mid-2024 IRS ruling date) and its almost entirely undeployed asset base, versus peers that may be longer-established, name-brand regional institutions (e.g., La Quinta Arts Foundation and Hayward Area Historical Society are recognizable operating/cultural organizations with public programming, which Piasc Foundation Inc. is not).

No news coverage, press releases, or grant announcements specific to 'Piasc Foundation Inc.' were found in web searches covering 2025-2026. The only dated activity identified comes from the affiliated Princeton Italian-American Foundation/clubhouse website (piascnj.com), which lists community social events at the shared 8 Founders Lane address: a 'Tour of Italy' wine tasting on February 1, 2025, and an International Women's Day 'Carnevale Celebration' dinner-and-dance on March 8, 2025. These are club social/cultural events, not foundation grant announcements, and there is no indication the foundation itself issued any public statement, RFP, or grant-cycle announcement in this window. The foundation's own record shows its most recent known filing year is FY2024 (the year it received its IRS ruling and its one large $9,056,118 contribution), with a single $200 grant disbursed that year and no subsequent grant activity yet visible in this dataset (last verified 2026-07-25). Given the lack of any dedicated grants-related news, prospective applicants should not assume an active pipeline of recent large awards exists; the most concrete 'recent activity' is the foundation's formation and initial capitalization itself, which occurred in 2024.

Because Piasc Foundation Inc. has no published application process, no application form URL, no stated funding cycle, and no typical grant size on record (all confirmed empty/null in IRS-sourced data), generic 'submit an LOI by X date' advice would be fabricated and should be avoided. What can be said concretely: the foundation lists 'accepting_applications: true' in its registration data but provides no instructions beyond a placeholder ('__none__'), meaning any applicant must initiate contact directly rather than following a self-service portal. Start with the listed contact, Mario Mangone, care of the foundation's registered address (8 Founders Lane, Princeton, NJ 08540); no direct email or phone is on file for the foundation itself, so route initial inquiries through the affiliated club's channel (609-921-0285, or piasc.rentals@gmail.com for the events/rental side) only as a way to reach the organization, making clear the inquiry is for the Piasc Foundation Inc. charitable entity and not clubhouse rentals. Given the sole known grant went to a local police department for a 'Charitable' purpose, applicants with a genuine Princeton-area civic, public-safety, or Italian-American heritage/community angle have the only real precedent to point to — lead with hyper-local relevance rather than a national arts-and-culture pitch, since the NTEE 'Arts & Culture' code appears to be an IRS default rather than a demonstrated funding thesis. Because the foundation only just received its capitalizing contribution in FY2024 and has paid out almost nothing since, set expectations low for near-term funding capacity and be prepared for a long relationship-building runway; a phone or in-person introduction is more likely to succeed than a cold written proposal given the absence of any formal intake process. Common mistake to avoid: treating this like an established arts funder and pitching a generic cultural-programming grant — the data does not support that this foundation has an active arts grants program, despite its classification.