Freedom Trail Foundation Inc
- Assets
- $3.9m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 27
- Location
- Boston, MA
- Founding
- 02/1970
- Data as of
- 12/2022
- EIN
- 04-2440031
Organization Overview
Freedom Trail Foundation Inc is located in Boston, MA. The organization was established in 1970. According to its NTEE Classification (A82) the organization is classified as: Historical Societies & Historic Preservation, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Freedom Trail Foundation Inc employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Freedom Trail 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.
For the year ending 12/2022, Freedom Trail Foundation Inc generated $1.4m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.2%) each year. All expenses for the organization totaled $1.0m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (2.0%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Freedom Trail Foundation Inc has awarded 13 individual grants totaling $177,900. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO MAINTAIN, IMPROVE, AUGMENT, MARKET AND PROMOTE A WALKING TRAIL CONNECTING BOSTON'S HISTORIC SITES. (SEE SCHEDULE O.)
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE VISITOR SERVICES, EDUCATION PROGRAMS, AND AUDIO EQUIPMENT FOR USE ALONG THE FREEDOM TRAIL - A WALKING TRAIL CONNECTING BOSTON'S HISTORIC SITES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Suzanne Taylor Executive Director | Officer | 40 | $126,545 |
Mark O'toole Chairman | OfficerTrustee | 5 | $0 |
Tk Ankner Vice Chairman | OfficerTrustee | 2 | $0 |
Joseph G Dilorenzo Treasurer | OfficerTrustee | 5 | $0 |
Paul Sacco Clerk | OfficerTrustee | 2 | $0 |
John Benda Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $61,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $63,801 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $124,801 |
| Total Program Service Revenue | $1,139,832 |
| Investment income | $55,872 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $47,099 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,367,604 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $130,445 |
| Compensation of current officers, directors, key employees. | $17,812 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $397,507 |
| Pension plan accruals and contributions | $2,972 |
| Other employee benefits | $42,590 |
| Payroll taxes | $46,379 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,844 |
| Fees for services: Accounting | $70,827 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $12,443 |
| Fees for services: Other | $9,689 |
| Advertising and promotion | $66,835 |
| Office expenses | $13,792 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $111,809 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,098 |
| Insurance | $7,305 |
| All other expenses | $0 |
| Total functional expenses | $1,026,626 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $458,189 |
| Savings and temporary cash investments | $6,125 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $40,292 |
| 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 | $47,510 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,927,773 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $414,574 |
| Total assets | $3,894,463 |
| Accounts payable and accrued expenses | $152,121 |
| 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 | $423,206 |
| Total liabilities | $575,327 |
| Net assets without donor restrictions | $3,216,000 |
| Net assets with donor restrictions | $103,136 |
| 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 | $3,894,463 |
Grants Awarded
Over the last fiscal year, Freedom Trail Foundation Inc has awarded $66,300 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
OLD NORTH FOUNDATION OF BOSTON INC PURPOSE: FREEDOM TRAIL HISTORIC SITE PRESERVATION | $8,800 |
FUND FOR PARKS AND RECREATION IN BOSTON PURPOSE: FREEDOM TRAIL HISTORIC SITE PRESERVATION | $15,000 |
OLD SOUTH MEMORIAL ASSOCIATION IN BOSTON PURPOSE: FREEDOM TRAIL HISTORIC SITE PRESERVATION | $17,500 |
PAUL REVERE MEMORIAL ASSOCIATION CORPORATION PURPOSE: FREEDOM TRAIL HISTORIC SITE PRESERVATION | $17,500 |
BOSTONIAN SOCIETY - OLD STATE HOUSE PURPOSE: FREEDOM TRAIL HISTORIC SITE PRESERVATION | $7,500 |