Advisors Charitable Gift Fund Inc
- Assets
- $22.8m
- Revenue
- $3.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Woburn, MA
- Founding
- 12/2003
- Data as of
- 10/2023
- EIN
- 01-0782573
Organization Overview
Advisors Charitable Gift Fund Inc is located in Woburn, MA. The organization was established in 2003. According to its NTEE Classification (W12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Advisors Charitable Gift Fund Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 10/2023, Advisors Charitable Gift Fund Inc generated $3.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (13.4%) each year. All expenses for the organization totaled $6.3m during the year ending 10/2023. As we would expect to see with falling revenues, expenses have declined by (3.7%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Advisors Charitable Gift Fund Inc has awarded 1,260 individual grants totaling $39,324,471. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE CHARITABLE GIVING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FUND MADE GRANTS TO 650 CHARITABLE ORGANIZATIONS IN THE AREAS OF EDUCATION, CULTURE, RELIGION, SOCIAL SERVICES AND OVERCOMING POVERTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Diane Cooksey Kessler Chairperson | OfficerTrustee | 1 | $2,500 |
Ronald D Dean Vice Chairman | OfficerTrustee | 1 | $2,000 |
Mark O'connell Treasurer | OfficerTrustee | 1 | $2,000 |
Joseph Gibbons Director | Trustee | 1 | $2,500 |
Kenneth G Y Grant Director | Trustee | 1 | $2,000 |
William Hogan Jr Director | Trustee | 1 | $2,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Benefit Trust Company Custody Services | 10/30/18 | $194,275 |
Northeast Retirement Services Llc Donor Accounting | 10/30/18 | $113,261 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,527,137 |
| Noncash contributions included in lines 1a–1f | $682,291 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,527,137 |
| Total Program Service Revenue | $177,234 |
| Investment income | $1,573,886 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $80,731 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,358,988 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,939,166 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $15,000 |
| Compensation of current officers, directors, key employees. | $15,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $107,178 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $23,408 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $17,781 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $4,000 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $8,713 |
| All other expenses | $0 |
| Total functional expenses | $6,285,928 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $396 |
| Savings and temporary cash investments | $45,414 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $8,657 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $22,711,600 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $22,766,067 |
| Accounts payable and accrued expenses | $23,630 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $23,630 |
| Net assets without donor restrictions | $22,742,437 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $22,766,067 |
Grants Awarded
Over the last fiscal year, Advisors Charitable Gift Fund Inc has awarded $5,200,988 in support to 154 organizations.
| Grant Recipient | Amount |
|---|---|
MAYER LUTHERAN HIGH SCHOOL PURPOSE: General Support | $1,000,000 |
RENAISSANCE CHARITABLE FOUNDATION PURPOSE: General Support | $455,168 |
DOYLESTOWN HEALTH FOUNDATION PURPOSE: General Support | $350,000 |
MORGAN STANLEY GLOBAL IMPACT FUNDING TRUST INC PURPOSE: General Support | $220,194 |
THE DAYTON FOUNDATION PURPOSE: General Support | $278,891 |
RAYMOND JAMES CHARITABLE ENDOWMENT FUND PURPOSE: General Support | $254,975 |