Metrowest Health Foundation Inc
- Assets
- $108.1m
- Revenue
- $3.4m
- Investments
- $98.9m
- Employees
- 0
- Location
- Framingham, MA
- Founding
- 01/1965
- Data as of
- 09/2023
- EIN
- 04-2121342
Organization Overview
Metrowest Health Foundation Inc is located in Framingham, MA. The organization was established in 1965. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Metrowest Health Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Since 2020, Metrowest Health Foundation Inc has awarded 808 individual grants totaling $22,207,248. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
1. THE FOUNDATION PROVIDED EXTENSIVE LEADERSHIP, RESEARCH, DATA COLLECTION AND PROGRAM SUPPORT TO IMPROVE HEALTH AND HEALTH CARE SERVICES TO THE 25 COMMUNITIES IN THE METROWEST AREA OF MASSACHUSETTS. 2. THE FOUNDATION AWARDED GRANTS IN EXCESS OF $3.4 MILLION TO IMPROVE THE HEALTH OF THE METROWEST RESIDENTS. THESE GRANTS PROVIDED FUNDING TO NONPROFIT COMMUNITY ORGANIZATIONS AND MUNICIPAL GOVERNMENTS FOR A VARIETY OF PROGRAMS THAT SERVE ELDERS, YOUTH AND SPECIAL POPULATIONS SUCH AS THE HOMELESS AND INDIGENT.3. THE FOUNDATION PROVIDED $224,000 IN SCHOLARSHIPS ENABLING 57 RESIDENTS TO PURSUE DEGREE PROGRAMS IN NURSING, MEDICINE, AND THE ALLIED HEALTH PROFESSIONS. 4. THE FOUNDATION SUPPORTED A VARIETY OF TRAINING AND TECHNICAL ASSISTANCE ACTIVITIES TO IMPROVE HEALTH, WELLNESS AND ADDRESS RACIAL AND ETHNIC INEQUALITY IN THE REGION.5. THE FOUNDATION RESPONDED TO THE COVID-19 PANDEMIC BY PROVIDING SUPPORT TO LOCAL PUBLIC HEALTH ENTITIES AND THROUGH DATA COLLECTION AND DISSEMINATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Martin Cohen President/ CEO | 40 | $279,472 | |
William Graham Chair | 5 | $0 | |
Anna Carollo Cross Vice Chair | 5 | $0 | |
John Corron Treasurer | 5 | $0 | |
Carol Gloff Clerk | 5 | $0 | |
Lino Covarrubias Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Prime Buchholz & Associates | 9/29/23 | $80,437 |
State Street Corporation | 9/29/23 | $59,276 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $420,660 |
| Interest on Savings | $0 |
| Dividends & Interest | $2,087,133 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $894,450 |
| Capital Gain Net Income | $894,450 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $3,402,243 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $279,472 |
| Other employee salaries and wages | $405,461 |
| Pension plans, employee benefits | $247,050 |
| Interest | $0 |
| Taxes | $309,411 |
| Depreciation | $4,387 |
| Occupancy | $94,140 |
| Travel, conferences, and meetings | $10,262 |
| Printing and publications | $14,003 |
| Other expenses | $171,735 |
| Total operating and administrative expenses | $2,426,855 |
| Contributions, gifts, grants paid | $2,319,683 |
| Total expenses and disbursements | $4,746,538 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $85,941 |
| Savings and temporary cash investments | $1,457,609 |
| Net Accounts receivable | $27,224 |
| 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 | $69,779 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $44,413,224 |
| Net Land, buildings, and equipment | $7,299 |
| Other assets | $7,608,810 |
| Total assets | $108,119,250 |
| Accounts payable and accrued expenses | $153,499 |
| Grants payable | $1,657,574 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $2,344,407 |
| Total liabilities | $4,155,480 |
Grants Awarded
Over the last fiscal year, Metrowest Health Foundation Inc has awarded $3,510,548 in support to 173 organizations.
| Grant Recipient | Amount |
|---|---|
A PLACE TO TURN PURPOSE: FOOD PANTRY | $25,000 |
ADVOCATES INC PURPOSE: INCREASE ACCESS TO BEHAVIORAL HEALTHCARE FOR SPANISH SPEAKING INDIVIDUALS AND FAMILIES | $25,000 |
ADVOCATES INC PURPOSE: METROWEST HEALTH INTERNSHIP - STEPHANIE O'NEIL | $7,500 |
ADVOCATES INC PURPOSE: METROWEST HEALTH INTERNSHIP - SYDNEY STAUBACH | $7,500 |
ADVOCATES INC PURPOSE: METROWEST HEALTH INTERNSHIP - LUSIANNA CASTILLO | $7,500 |
ADVOCATES INC PURPOSE: METROWEST CARE CONNECTION | $241,546 |