Freedom Trail Foundation Inc
- Assets
- $3.7m
- Revenue
- $689.8k
- Investments
- $0.0
- Employees
- 13
- Location
- Boston, MA
- Founding
- 02/1970
- Data as of
- 12/2021
- 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 12/2021, Freedom Trail Foundation Inc employed 13 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 12/2021, Freedom Trail Foundation Inc generated $689.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (10.6%) each year. All expenses for the organization totaled $681.2k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (7.8%) per year over the past 7 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
2021
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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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Suzanne Taylor Ftf Exec Director | Officer | 40 | $135,000 |
Tk Ankner Vice Chairman | OfficerTrustee | 2 | $0 |
Mark O'toole Chairman | OfficerTrustee | 5 | $0 |
Rick Dimino Vice Chairman | OfficerTrustee | 2 | $0 |
Joseph G Dilorenzo Treasurer | OfficerTrustee | 2 | $0 |
Paul Sacco Clerk | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $229,646 |
| All other contributions, gifts, grants, and similar amounts not included above | $82,837 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $312,483 |
| Total Program Service Revenue | $323,784 |
| Investment income | $51,194 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,352 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $689,813 |
| 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. | $146,547 |
| Compensation of current officers, directors, key employees. | $20,297 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $219,959 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $29,981 |
| Payroll taxes | $30,208 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $24,508 |
| Fees for services: Accounting | $64,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $14,266 |
| Fees for services: Other | $2,962 |
| Advertising and promotion | $20,383 |
| Office expenses | $6,893 |
| Information technology | $5,176 |
| Royalties | $0 |
| Occupancy | $78,151 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,770 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,100 |
| Insurance | $5,899 |
| All other expenses | $0 |
| Total functional expenses | $681,169 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $138,220 |
| Savings and temporary cash investments | $6,149 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $40,407 |
| 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 | $36,453 |
| Net Land, buildings, and equipment | $5,098 |
| Investments—publicly traded securities | $3,404,704 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $59,631 |
| Total assets | $3,690,662 |
| Accounts payable and accrued expenses | $146,075 |
| 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 | $146,075 |
| Net assets without donor restrictions | $3,397,376 |
| Net assets with donor restrictions | $147,211 |
| 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 | $3,690,662 |
Grants Awarded
Over the last fiscal year, Freedom Trail Foundation Inc has awarded $66,300 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
Boston, MA PURPOSE: FREEDOM TRAIL HISTORIC SITE PRESERVATION | $17,500 |
Boston, MA PURPOSE: FREEDOM TRAIL HISTORIC SITE PRESERVATION | $17,500 |
Boston, MA PURPOSE: FREEDOM TRAIL HISTORIC SITE PRESERVATION | $15,000 |
Boston, MA PURPOSE: FREEDOM TRAIL HISTORIC SITE PRESERVATION | $8,800 |
Boston, MA PURPOSE: FREEDOM TRAIL HISTORIC SITE PRESERVATION | $7,500 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Freedom Trail Foundation Inc has recieved totaling $12,000.
| Awarding Organization | Amount |
|---|---|
Highland Street Connection Newton, MA PURPOSE: FOR ARTS AND CULTURE. | $12,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hamilton-Madison House Inc New York, NY | $11,830,050 | $17,173,913 |
Buffalo Olmsted Parks Conservancy Inc Buffalo, NY | $5,280,478 | $5,712,316 |
New York Landmarks Conservancy Inc New York, NY | $20,181,669 | $5,556,998 |
Marthas Vineyard Museum Inc Vineyard Haven, MA | $28,426,122 | $2,586,449 |
Florence Griswold Museum Inc Old Lyme, CT | $32,307,778 | $2,875,061 |
Friends Of Hildene Inc Manchester, VT | $15,529,063 | $5,299,027 |
Sakonnet Preservation Assoc Inc Little Compton, RI | $7,767,895 | $3,666,448 |
Mattatuck Historical Society Waterbury, CT | $30,372,011 | $3,496,557 |
Edith Wharton Restoration Inc Lenox, MA | $18,245,381 | $3,306,294 |
Rhode Island Historical Society Providence, RI | $30,696,643 | $3,629,513 |
Galvan Initiatives Foundation New York, NY | $45,061,487 | $6,375,160 |
Concord Antiquarian Society Concord, MA | $23,141,155 | $2,972,281 |