Cooperative Fund Of New England Inc
- Assets
- $43.8m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 11
- Location
- Watertown, MA
- Founding
- 09/1984
- Data as of
- 12/2021
- EIN
- 03-0264092
Organization Overview
Cooperative Fund Of New England Inc is located in Watertown, MA. The organization was established in 1984. According to its NTEE Classification (T50) the organization is classified as: Philanthropy, Charity & Voluntarism Promotion, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Cooperative Fund Of New England Inc employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cooperative Fund Of New England 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 12/2021, Cooperative Fund Of New England Inc generated $2.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.6% each year . All expenses for the organization totaled $2.7m during the year ending 12/2021. While expenses have increased by 11.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Cooperative Fund Of New England Inc has awarded 36 individual grants totaling $356,500. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
WE ADVANCE COMMUNITY BASED, COOPERATIVE AND DEMOCRATICALLY OWNED OR MANAGED ENTERPRISES WITH PREFERENCE TO THOSE THAT SERVE LOW INCOME COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE FINANCIAL AND EDUCATIONAL ASSISTANCE TO NONPROFIT AND COOPERATIVE ORGANIZATIONS, PRIMARILY WITHIN THE NORTHEAST AND ENDEAVOR TO PROVIDE ASSISTANCE TO THOSE OF GREATEST NEED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Micha Josephy Executive Director | Officer | 40 | $141,920 |
Dorian Gregory Deputy Executive Director | Officer | 40 | $116,232 |
Andrew Danforth Treasurer | OfficerTrustee | 4 | $0 |
Bonnie Hudspeth President/board Chair | OfficerTrustee | 4 | $0 |
Kimberly Lyle Vice-President | OfficerTrustee | 4 | $0 |
Matthew Feinstein Clerk | OfficerTrustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,138,649 |
| All other contributions, gifts, grants, and similar amounts not included above | $222,220 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,360,869 |
| Total Program Service Revenue | $1,447,527 |
| Investment income | $122,725 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,931,121 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $376,500 |
| 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. | $265,897 |
| Compensation of current officers, directors, key employees. | $85,087 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $577,995 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $8,504 |
| Payroll taxes | $58,824 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,994 |
| Fees for services: Accounting | $38,484 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,500 |
| Advertising and promotion | $67,634 |
| Office expenses | $10,887 |
| Information technology | $31,589 |
| 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 | $28,704 |
| Interest | $706,420 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $7,621 |
| All other expenses | $0 |
| Total functional expenses | $2,738,067 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,271,501 |
| Savings and temporary cash investments | $15,760,456 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,567 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $22,726,760 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $78,947 |
| Total assets | $43,843,231 |
| Accounts payable and accrued expenses | $347,397 |
| Grants payable | $0 |
| Deferred revenue | $2,297,295 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $87,735 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $30,442,033 |
| Total liabilities | $33,174,460 |
| Net assets without donor restrictions | $10,338,351 |
| Net assets with donor restrictions | $330,420 |
| 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 | $43,843,231 |
Grants Awarded
Over the last fiscal year, Cooperative Fund Of New England Inc has awarded $356,500 in support to 36 organizations.
| Grant Recipient | Amount |
|---|---|
BERKSHIRE COOPERATIVE ASSOCIATION I PURPOSE: BUSINESS STABILIZATION | $10,000 |
BROADWAY BICYCLE SCHOOL PURPOSE: BUSINESS STABILIZATION | $10,000 |
ARTISAN BEVERAGE COOPERATIVE PURPOSE: BUSINESS STABILIZATION | $10,000 |
ACCESS COOPERATIVE INC PURPOSE: BUSINESS STABILIZATION | $10,000 |
BOSTON CLEANING COLLECTIVE LLC PURPOSE: BUSINESS STABILIZATION | $10,000 |
BOSTON TECHCOLLECTIVE COOPERATIVE INC PURPOSE: BUSINESS STABILIZATION | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Cooperative Fund Of New England Inc has recieved totaling $104,111.
| Awarding Organization | Amount |
|---|---|
The Rhode Island Community Foundation Providence, RI PURPOSE: FOOD FOR ALL | $45,000 |
Oneworld Boston Inc Woburn, MA PURPOSE: OTHER | $33,333 |
Elmina B Sewall Foundation Freeport, ME PURPOSE: GENERAL OPERATING SUPPORT | $15,000 |
Mightycause Charitable Foundation Marianna, FL PURPOSE: UNRESTRICTED | $10,778 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Fund For The Public Interest Inc Boston, MA | $38,723,767 | $15,827,211 |
Rofeh Cholim Cancer Society Inc Brooklyn, NY | $24,523,868 | $22,653,682 |
Person To Person Inc Darien, CT | $8,508,315 | $15,004,932 |
Peter Schub Foundation New York, NY | $153,451 | $8,498,000 |
Queens College Special Projects Fund Inc Flushing, NY | $53,656,603 | $7,071,081 |
Global Impact Investing Network Inc New York, NY | $6,619,298 | $6,380,097 |
Concrete Foundation Inc Craftsbury Common, VT | $101,088,945 | $16,269,821 |
Tapfound Inc New York, NY | $4,933,878 | $7,053,619 |
Chief Executives For Corporate Purpose Inc New York, NY | $5,985,740 | $5,961,385 |
Sovereign Military Hospitaller Order Of St John Of Jerusalem Of New York, NY | $5,131,952 | $5,108,487 |
Magaro Family Foundation Inc Danbury, CT | $30,477,702 | $229,929 |
Datakind Brooklyn, NY | $7,052,955 | $2,773,630 |