named programs · 3 · from sources
What they call their work
Clark Gillies Scholarship
Endowed scholarship at Farmingdale State College honoring NHL legend Clark Gillies, supporting first-generation students with financial assistance
Ferro Family Scholarship
Provides $10,000 over four years ($2,500 annually) to business students at Farmingdale State College who maintain a 3.0 GPA
Textbook Assistance Fund
Supports Farmingdale State College students with funds to purchase required textbooks
activities · 4 groups
What they do
-
Local High School Scholarship Programs 2 activities
- Administering annual scholarship awards to Long Island studentsSupports students from Long Island through scholarship awards, with recent recipients including Cheyenna Bardsley (2020), Forrest Gerlich (2021), and Megan Guarascio (2022), as part of its broader focus on aiding students, seniors, and veterans in the community.
- Awarding renewable scholarships to undergraduate studentsFunds renewable scholarships of $2,500 per year for up to four years to undergraduate students who maintain a 3.0 GPA, disbursing funds directly to the recipient's educational institution. The selection process evaluates academic performance, extracurricular involvement, financial need, and personal essays, with winners announced annually in August.
-
-
University-Specific Endowment and Program Funding 1 activity
- Funding named scholarships and student support at Farmingdale State CollegeProvides targeted financial support to Farmingdale State College through grants, including the Clark Gillies Scholarship and The Ferro Family Scholarship for business students, a textbook assistance fund, and a $25,000 grant to support student recruitment and retention efforts.
-
-
Corporate Sponsorship Programs 1 activity
- Organizing and managing charitable poker tournamentsOperates an annual poker tournament that includes tiered sponsorship packages ranging from $500 to $5,000, participant entry fees of $300 with re-buy options, and distributes prizes such as all-expenses-paid trips and tournament entries to top finishers, including awards for the top 10 participants.
-
-
Event and Program Registration Management 1 activity
- Processing event registrations, refunds, and substitutionsManages event logistics by allowing participant substitutions, issuing full refunds for cancellations received in writing at least 30 days prior to an event, and processing refunds via the original payment method within 10 business days.
-
financials · form 990 · fy2023
revenue
Total revenue$340K
Contributions & grants$130K38%
Program service revenue$00%
Investment income$00%
Other revenue$210K
expenses
Total expenses$393K
Program expenses84%
Admin / overhead16%
Fundraising0%
Salaries & benefits$0
Grants paid out$331K
Largest expense lineProfessional Fees
balance sheet
Total assets$177K
Cash$177K
Investments$0
Liabilities$75
Net assets$177K
Liquid reserves5.4 mo
5 years on record · 2019–2023 · YoY revenue +138.6%
leadership · form 990 part vii · fy2023
Who runs it
board members · 4
- CHRISTOPHER FERRO — BOARD MEMBER
- DR HENRY SIKORSKI — BOARD MEMBER
- JOE HATZFELD — BOARD MEMBER
- KRIS AMPLO — BOARD MEMBER
relationships · 9
Who they work with
- Alure Home Improvements Government — Employee affiliation noted in ineligibility clause; suggests organizational connection between The Ferro Foundation and Alure Home Improvements.
- Borgata Partner — Provides tournament entry prizes for second and third place winners.
- Clark Gillies Foundation Partner — Collaborated with The Ferro Foundation to establish the Clark Gillies Scholarship at Farmingdale State College.
- Family Service League Partner — Collaborating organization through which the Ferro Foundation extends support to less fortunate families on Long Island.
- Farmingdale State College Partner — Partner institution where the Ferro Foundation established the Clark Gillies Scholarship through a grant.
- Farmingdale State College Partner — Recipient of multiple grants and scholarships funded by The Ferro Foundation.
- Hard Rock Casino Partner — Provides a first-place prize of an all-expenses-paid trip to its Punta Cana location.
- Tri-CYA Partner — Collaborating organization through which the Ferro Foundation provides assistance to vulnerable families on Long Island.
- info@ferrofoundation.org Partner — Contact point for refund inquiries and requests
strategies · 3
How they approach the work
Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.
- Holistic Student Support Model 10 orgsmethodology: holistic-student-supportBy providing financial aid, mentorship, and guidance to first-generation college students, the organization increases educational success and personal empowerment because addressing systemic barriers enables sustained engagement and achievement.shared approach: Peer-Led Empowerment →
- Targeted Community Investmentmethodology: targeted community supportBy focusing resources on high-need populations—students, seniors, and veterans—the organization creates lasting change in Long Island communities because concentrated, place-based support amplifies impact and inspires broader civic engagement.
- Veteran Transition Supportmethodology: veteran-transition-supportBy offering comprehensive services tailored to veterans’ unique needs, the organization fosters successful reintegration into civilian life because addressing psychological, social, and economic challenges holistically improves long-term outcomes.