Davenport Memorial Foundation
- Assets
- $19.5m
- Revenue
- $2.1m
- Investments
- $18.2m
- Employees
- 0
- Location
- Malden, MA
- Founding
- 01/1947
- Data as of
- 03/2022
- EIN
- 04-2104142
Organization Overview
Davenport Memorial Foundation is located in Malden, MA. The organization was established in 1947. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Davenport Memorial Foundation 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 03/2022, Davenport Memorial Foundation generated $2.1m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 17.7% each year . All expenses for the organization totaled $1.3m during the year ending 03/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
SINCE 1946, THE DAVENPORT MEMORIAL FOUNDATION HAS OPERATED AND MAINTAINED A PERPETUAL HOME FOR THE CARE, SUPPORT, AND MAINTENANCE OF COUPLES AND SINGLES, AT LEAST 65 YEARS OF
AGE, CITIZENS OF THE UNITED STATES, AND OF PROTESTANT RELIGIOUS AFFILIATION, AS ITS PRINCIPAL FUNCTIONAL PURPOSE. THE FACILITY, LOCATED AT 70 SALEM STREET, MALDEN
MASSACHUSETTS, IS CURRENTLY LICENSED FOR 18 LEVEL IV (SELF CARE) RESIDENTIAL BEDS. DURING THE FISCAL YEAR ENDING MARCH 31, 2022, THE AVERAGE RESIDENT OCCUPANCY WAS 10.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rachel Burke Administrator | 40 | $82,835 | |
Susan Engstrom Nurse | 40 | $51,485 | |
Kathleen Rodgers Nurse | 40 | $41,127 | |
Francis Riggin Nurse | 40 | $35,435 | |
Lois Shano Nurse | 40 | $34,175 | |
C Henry Kezer President & Trustee | 0.25 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Glendale Senior Dining | 3/30/22 | $256,907 |
4m Building Solutions | 3/30/22 | $53,672 |
Eastern Investments Advisors | 3/30/22 | $71,608 |
Withum | 3/30/22 | $38,975 |
Pro Ems Solutions | 3/30/22 | $31,494 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $425,810 |
| Net Rental Income | $1,679 |
| Net Gain on Sale of Assets | $1,571,243 |
| Capital Gain Net Income | $1,571,243 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $58,800 |
| Total Revenue | $2,079,723 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $419,685 |
| Pension plans, employee benefits | $5,554 |
| Interest | $81 |
| Taxes | $50,213 |
| Depreciation | $61,854 |
| Occupancy | $67,627 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $529,529 |
| Total operating and administrative expenses | $1,279,949 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $1,279,949 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $127,616 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $2,200 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $25,092 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $1,099,424 |
| Other assets | $11,970 |
| Total assets | $19,472,198 |
| Accounts payable and accrued expenses | $19,265 |
| Grants payable | $0 |
| Deferred revenue | $4,900 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $24,165 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John R Oishei Foundation Buffalo, NY | $294,151,477 | $18,357,929 |
American Express Foundation New York, NY | $66,234,265 | $62,922,703 |
Essel Foundation Inc Purchase, NY | $100,106,056 | $12,292,478 |
Beth And Ravenel Curry Foundation New York, NY | $0 | $44,744,046 |
Kz Family Foundation New York, NY | $10,936,301 | $30,139,672 |
The Freeman Foundation P-01644-00-7 New York, NY | $343,405,683 | $35,941,951 |
Hearst Foundation Inc New York, NY | $439,249,947 | $42,040,987 |
Tansy Charitable Foundation New York, NY | $325,076,608 | $77,631,295 |
Eastern Bank Charitable Foundation Lynn, MA | $286,575,476 | $18,352,628 |
G Harold And Leila Mathers Charitable Foundation Rye Brook, NY | $96,045,942 | $16,941,265 |
Elms Foundation Providence, RI | $0 | -$22,907 |
Thomas L Kempner Jr Foundation Inc Southampton, NY | $328,355,645 | $44,754,721 |