Philanthropy Massachusetts Inc
- Assets
- $4.8m
- Revenue
- $5.1m
- Investments
- $0.0
- Employees
- 13
- Location
- Boston, MA
- Founding
- 09/1970
- Data as of
- 12/2022
- EIN
- 04-2457605
Organization Overview
Philanthropy Massachusetts Inc is located in Boston, MA. The organization was established in 1970. According to its NTEE Classification (T70) the organization is classified as: Federated Giving Programs, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Philanthropy Massachusetts Inc employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Philanthropy Massachusetts 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, Philanthropy Massachusetts Inc generated $5.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.8% each year . All expenses for the organization totaled $4.9m during the year ending 12/2022. While expenses have increased by 16.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Philanthropy Massachusetts Inc has awarded 557 individual grants totaling $9,944,845. 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 PROMOTE THE PRACTICE AND EXPANSION OF EFFECTIVE AND RESPONSIBLE PHILANTHROPY TO IMPROVE THE HEALTH AND VITALITY OF THE REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUMMER FUND: A 51-YEAR-OLD DONOR COLLABORATIVE SUPPORTING SUMMER CAMPS AND PROGRAMS FOR DISADVANTAGED AND AT-RISK YOUTH COMMUNITIES IN GREATER BOSTON. THE SUMMER FUND SUPPORTED OVER 50 NONPROFITS OPERATING OVER 100 SUMMER CAMP AND PROGRAM SITES. IN 2022, THE FUND SUPPORTED GENERAL OPERATING, A HOMELESS CAMPERSHIP FUND, AND A MENTAL HEALTH FUND FOR THE PORTFOLIO OF CAMPS.
NONPROFIT PARTNER SERVICES: PHILANTHROPY MASSACHUSETTS HAS 400 GRANT SEEKING PARTNERS, NONPROFIT ORGANIZATIONS AND CONSULTANTS. PHILANTHROPY MASSACHUSETTS BRIDGES THE NONPROFIT AND FUNDER COMMUNITIES BY GIVING ACCESS TO RESEARCH AND INFORMATION TO SUPPORT FUND DEVELOPMENT, PROVIDING PROFESSIONAL DEVELOPMENT AND NETWORKING OPPORTUNITIES FOR NONPROFIT STAFF MEMBERS. SOME OF THE PROGRAMS PRESENTED INCLUDE MEET-THE-DONORS AND SKILL-BUILDING WORKSHOPS IN GRANT RESEARCH, GRANT WRITING, DONOR CULTIVATION, A FUNDRAISING CERTIFICATE PROGRAM AND A FUNDRAISING FOR SENIOR EXECUTIVES PROGRAM. THE RESOURCE STAFF PROVIDED VIRTUAL ACCESS TO DATABASES FOR GRANT RESEARCH AS WELL AS ONE-ON-ONE TRAINING ON RESEARCH. CUSTOMIZED RESEARCH IS PROVIDED BY THE RESOURCE CENTER TO PARTNERS AT A PREMIUM LEVEL.
MEMBER SERVICES: DURING 2022, PHILANTHROPY MASSACHUSETTS PROVIDED ITS FUNDER MEMBERS AND THE FUNDING COMMUNITY WITH A RANGE OF VIRTUAL PROGRAM OFFERINGS COVERING MULTIPLE TOPICS AND REGIONS. OVER 2,000 PARTICIPANTS ATTENDED PROGRAMS ON TOPICS INCLUDING: REGIONAL VIRTUAL MEETINGS, A POWER AND EQUITY SERIES, PHILANTHROPY 101, MA ARTS FUNDERS NETWORK, MA COMMUNITY FOUNDATION PARTNERSHIP, PROGRAM STAFF LEARNING NETWORK, BEHAVIORAL HEALTH FUNDERS, CFO NETWORK, TRUSTEES, CORPORATE FUNDERS, AND FAMILY FOUNDATION CEOS. RESOURCE STAFF PROVIDED CUSTOMIZED RESEARCH FOR FUNDER MEMBERS.
FISCAL SPONSORSHIP ACTIVITIES: PHILANTHROPY MASSACHUSETTS PROVIDES GENERAL FINANCIAL MANAGEMENT THAT INCLUDES ACCOUNTS RECEIVABLE, ACCOUNTS PAYABLE, PROVIDING PERIODIC STATEMENTS OF THE ACCOUNT, AND HANDLING ALL STATE AND FEDERAL FILINGS TO INCORPORATED AND UNINCORPORATED ENTITIES OPERATING FOR CHARITABLE PURPOSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey Poulos Chief Executive Officer | OfficerTrustee | 40 | $171,737 |
Alex Mccray Vice President, Member Engagement & Strategic Init | 40 | $102,203 | |
Audrey Shelto Chair | OfficerTrustee | 1.3 | $0 |
Giles Li Vice Chair | OfficerTrustee | 1.3 | $0 |
Rob Zaccardi Treasurer | OfficerTrustee | 1.3 | $0 |
Karen Gill Assistant Treasurer | OfficerTrustee | 1.3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Allyce Najimy Consultant | 12/30/22 | $124,339 |
Rennie Center For Education Research & P Consultant | 12/30/22 | $105,116 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $711,343 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,996,929 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,708,272 |
| Total Program Service Revenue | $384,576 |
| Investment income | $27,346 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,120,194 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,966,657 |
| 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. | $194,014 |
| Compensation of current officers, directors, key employees. | $38,803 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $676,287 |
| Pension plan accruals and contributions | $41,728 |
| Other employee benefits | $46,545 |
| Payroll taxes | $68,292 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $30,802 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $612,999 |
| Advertising and promotion | $0 |
| Office expenses | $47,271 |
| Information technology | $22,424 |
| Royalties | $0 |
| Occupancy | $140,698 |
| Travel | $5,752 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $978,629 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $4,851,029 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $861,351 |
| Savings and temporary cash investments | $3,155,811 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,342 |
| 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 | $6,911 |
| Net Land, buildings, and equipment | $90,344 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $719,337 |
| Total assets | $4,841,096 |
| Accounts payable and accrued expenses | $156,053 |
| Grants payable | $0 |
| Deferred revenue | $14,110 |
| 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 | $740,338 |
| Total liabilities | $910,501 |
| Net assets without donor restrictions | $1,307,852 |
| Net assets with donor restrictions | $2,622,743 |
| 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 | $4,841,096 |
Grants Awarded
Over the last fiscal year, Philanthropy Massachusetts Inc has awarded $1,412,465 in support to 71 organizations.
| Grant Recipient | Amount |
|---|---|
AFRICAN COMMUNITY ECONOMIC DEVELOPMENT OF NEW ENGLAND PURPOSE: FOR OPERATING AND PROGRAM SUPPORT | $7,500 |
AFRICAN CULTURAL SERVICES INC PURPOSE: FOR OPERATING AND PROGRAM SUPPORT | $22,123 |
AGASSIZ BALDWIN COMMUNITY PURPOSE: FOR OPERATING AND PROGRAM SUPPORT | $10,500 |
AGASSIZ VILLAGE PURPOSE: FOR OPERATING AND PROGRAM SUPPORT | $37,033 |
ARTISTS FOR HUMANITY PURPOSE: FOR OPERATING AND PROGRAM SUPPORT | $10,000 |
BASE CHICAGO PURPOSE: FOR OPERATING AND PROGRAM SUPPORT | $55,100 |