Greater Haverhill Foundation Incorporated
- Assets
- $16.5m
- Revenue
- -$478.7k
- Investments
- $0.0
- Employees
- 1
- Location
- Haverhill, MA
- Founding
- 09/1966
- Data as of
- 12/2022
- EIN
- 04-2460259
Organization Overview
Greater Haverhill Foundation Incorporated is located in Haverhill, MA. The organization was established in 1966. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Haverhill Foundation Incorporated is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ASSIST IN THE ECONOMIC, CULTURAL, AND HISTORICAL DEVELOPMENT OF THE GREATER HAVERHILL AREA
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO FURTHER HAVERHILL DEVELOPMENT THROUGH A VARIETY OF ACTIVITIES RELATED TO COMMERCIAL AND RESIDENTIAL DEVELOPMENT AND TO DEVELOP THE AREA AS A CIVIC,CULTURAL, HISTORICAL CENTER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Splaine Managing Dir | Officer | 20 | $94,992 |
Kenneth Cavallaro President | OfficerTrustee | 8 | $0 |
Timothy Jordan Treasurer | OfficerTrustee | 4 | $0 |
Terrance Beaton Asst. Treasu | OfficerTrustee | 4 | $0 |
Joseph Cleary Clerk | OfficerTrustee | 4 | $0 |
Kevin Doody Assistant Cl | OfficerTrustee | 4 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $62,442 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$81,425 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$478,737 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $40,350 |
| 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. | $94,992 |
| Compensation of current officers, directors, key employees. | $18,998 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,541 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,571 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $12,975 |
| Fees for services: Other | $22,825 |
| Advertising and promotion | $0 |
| Office expenses | $7,878 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $13,866 |
| 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 | $1,479 |
| Insurance | $11,285 |
| All other expenses | $0 |
| Total functional expenses | $233,392 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,265 |
| Savings and temporary cash investments | $68,612 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $715,522 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $305,020 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,317 |
| Net Land, buildings, and equipment | $101,461 |
| Investments—publicly traded securities | $3,466,779 |
| Investments—other securities | $0 |
| Investments—program-related | $11,830,160 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $16,508,136 |
| Accounts payable and accrued expenses | $27,156 |
| Grants payable | $3,500 |
| Deferred revenue | $711 |
| 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 | $475,655 |
| Total liabilities | $507,022 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $224,019 |
| Paid-in or capital surplus, or land, building, or equipment fund | $14,221 |
| Retained earnings, endowment, accumulated income, or other funds | $15,762,874 |
| Total liabilities and net assets/fund balances | $16,508,136 |
Grants Awarded
Over the last fiscal year, Greater Haverhill Foundation Incorporated has awarded $33,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
TEAM HAVERHILL PURPOSE: SPONSORSHIP & OPER | $8,500 |
GTR HAVERHILL CHAMBER OF COMMERCE PURPOSE: OPERATIONS | $25,000 |