Davenport Memorial Foundation
- Assets
- $17.0m
- Revenue
- $863.5k
- Investments
- $16.0m
- Employees
- 0
- Location
- Malden, MA
- Founding
- 01/1947
- Data as of
- 03/2023
- 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 03/2023, Davenport Memorial Foundation generated $863.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (9.3%) each year. All expenses for the organization totaled $1.3m during the year ending 03/2023. 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
2023
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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
C Henry Kezer President & Trustee | 0.25 | $0 | |
Francis K Brown II Treasurer & Trustee | 0.25 | $0 | |
Jayne E Brown Clerk & Trustee | 0.25 | $0 | |
Rev Paul Mcpheeters Trustee | 0.25 | $0 | |
Steven Graffam Trustee | 0.25 | $0 | |
Elaine Rittershaus Trustee | 0.25 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Glendale Senior Dining | 3/30/23 | $282,147 |
Eastern Investments Advisors | 3/30/23 | $61,856 |
4m Building Solutions | 3/30/23 | $54,748 |
Withum | 3/30/23 | $41,750 |
National Grid | 3/30/23 | $39,045 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $338,288 |
| Net Rental Income | -$1,190 |
| Net Gain on Sale of Assets | $459,647 |
| Capital Gain Net Income | $459,647 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $43,050 |
| Total Revenue | $863,535 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $98,498 |
| Other employee salaries and wages | $353,637 |
| Pension plans, employee benefits | $866 |
| Interest | $61 |
| Taxes | $56,504 |
| Depreciation | $62,071 |
| Occupancy | $71,504 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $564,784 |
| Total operating and administrative expenses | $1,331,455 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $1,331,455 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,737 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $450 |
| 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 | $22,513 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $1,039,931 |
| Other assets | $12,881 |
| Total assets | $17,036,883 |
| Accounts payable and accrued expenses | $29,339 |
| 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 | $34,239 |