Demolay Foundation Of Massachusetts
- Assets
- $2.2m
- Revenue
- $272.8k
- Investments
- $0.0
- Employees
- 3
- Location
- Boston, MA
- Founding
- 05/1969
- Data as of
- 12/2021
- EIN
- 04-2325981
Organization Overview
Demolay Foundation Of Massachusetts is located in Boston, MA. The organization was established in 1969. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 12/2021, Demolay Foundation Of Massachusetts employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Demolay Foundation Of Massachusetts 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, Demolay Foundation Of Massachusetts generated $272.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $126.8k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATIONAL - DURING 2018 THE ORGANIZATION PROVIDED SCHOLARSHIP ASSISTANCE AND ADMINISTRATION, COORDINATION, MATERIALS AND INSTRUCTIONS FOR THE VARIOUS MEETINGS AND ACTIVITIES FOR WHICH 400 YOUNG MEN (AGES 12-21) ARE MEMBERS. THESE ACTIVITIES INCLUDE
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONCLAVE (CONFERENCE) AN ANNUAL EDUCATIONAL EVENT PROMOTING PROGRAM PLANNING, CIVIC SERVICE, ATHLETICS, LEGISLATIVE INITIATIVE, RULES OF ORDER, ELECTION OF OFFICERS, EDUCATIONAL WORKSHOPS, AND FRATERNAL GROWTH. THIS EVENT DEVELOPS THE UPCOMING YEAR'S PROGRAMS, PLANS, AND SCHEDULES. THIS EVENT WAS REDUCED IN SCOPE AND TIME IN 2021 DUE TO COVID-19.
TRAINING AND EDUCATION THIS ACTIVITY DISSEMINATES THE VALUABLE WORKS AND TEACHINGS OF THE ORGANIZATION THIS ASSISTS THE MEMBERS IN BECOMING PROFICIENT WITH RITUAL AND HELPS SPREAD AND COMMUNICATE TO OTHERS THE CONCEPTS OF DEMOLAY THAT THEY MAY BE INSPIRED TO ASSOCIATE AND BECOME MEMBERS OF THE ORGANIZATION.
ACTIVITIES AND ATHLETICS INCLUDED ARE THE FEES FOR EDUCATIONAL, SOCIAL, AND ATHLETIC ACTIVITIES WHICH HELPS TO DEFRAY THE COST OF SPONSORING THESE EVENTS. THESE ACTIVITIES AND ATHLETIC COMPETITIONS ARE INTENDED TO ASSIST IN FULFILLING THE ORGANIZATION'S MISSION AS FURTHER DESCRIBED IN OUR MISSION STATEMENT.
ADDITIONAL PROGRAM SERVICES INCLUDE DEGREE WORK, SPECIAL MEETINGS, HONOR AND AWARD CEREMONIES, TRAINING WORKSHOPS AND EDUCATION FOR ADVISORS, PLANNING, AND PROGRAMMING SESSIONS. ALSO INCLUDED IS THE INFRASTRUCTURE NECESSARY TO SUPPORT THE MULTITUDE OF PROGRAM OFFERINGS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard J Stewart Chairman | OfficerTrustee | 2 | $0 |
Kenneth J Scott Vice Chairman | OfficerTrustee | 2 | $0 |
Herbert I Lewis Treasurer | OfficerTrustee | 10 | $0 |
Wayne M Vinton Secretary | OfficerTrustee | 2 | $0 |
Philip A Drouin Exec. Officer/ex-Officio | OfficerTrustee | 20 | $0 |
Roy J Leone Trustee | Trustee | 2 | $0 |
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 | $96,444 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $96,444 |
| Total Program Service Revenue | $17,377 |
| Investment income | $9,530 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $151,280 |
| Net Income from Fundraising Events | -$2,577 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $272,780 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $5,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $19,806 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,590 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,342 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $18,588 |
| Fees for services: Other | $0 |
| Advertising and promotion | $8,166 |
| Office expenses | $6,050 |
| Information technology | $4,092 |
| Royalties | $0 |
| Occupancy | $1,908 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,272 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $7,795 |
| All other expenses | $1,581 |
| Total functional expenses | $126,799 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $36,541 |
| Savings and temporary cash investments | $0 |
| 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 | $1,426 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,133,210 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,171,177 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $140,897 |
| Net assets with donor restrictions | $2,030,280 |
| 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 | $2,171,177 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Demolay Foundation Of Massachusetts has recieved totaling $8,986.
| Awarding Organization | Amount |
|---|---|
Stephen C Luce Foundation 14-3300800070 Dallas, TX PURPOSE: UNRESTRICTED GENERAL | $8,914 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $72 |
Endowment Analysis
| Beg. Balance | $1,761,851 |
| Earnings | $421,419 |
| Admin Expense | $18,588 |
| Other Expense | $28,972 |
| Grants | $2,500 |
| Ending Balance | $2,133,210 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Alfred P Sloan Foundation New York, NY | $2,105,880,634 | $192,527,982 |
Massachusetts Higher Education Assistance Corporation Boston, MA | $1,090,709,677 | $124,087,298 |
Mastercard Impact Fund Purchase, NY | $207,268,769 | $96,050,288 |
N H Higher Education Loan Corporation Concord, NH | $928,313,847 | $60,034,018 |
Arcus Foundation New York, NY | $264,733,626 | $35,703,685 |
Edward P Evans Andover, MA | $242,161,195 | $13,916,833 |
The Childrens Scholarship Fund New York, NY | $36,136,002 | $24,710,520 |
Math For America Inc New York, NY | $15,709,494 | $20,036,646 |
Ja Worldwide Inc Boston, MA | $14,229,210 | $21,801,943 |
The Posse Foundation Inc New York, NY | $120,660,725 | $44,739,225 |
Inner-City Scholarship Fund Inc New York, NY | $115,829,957 | $24,751,034 |
Joan And Irwin Jacobs Technion-Cornell Innovation Instit New York, NY | $205,040,861 | $18,316,542 |