Boston Globe Foundation Inc
- Assets
- $3.5m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Boston, MA
- Founding
- 02/1981
- Data as of
- 12/2022
- EIN
- 04-2731195
Organization Overview
Boston Globe Foundation Inc is located in Boston, MA. The organization was established in 1981. According to its NTEE Classification (T21) the organization is classified as: Corporate Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Boston Globe 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, Boston Globe Foundation Inc generated $1.8m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.6%) each year. All expenses for the organization totaled $1.4m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (0.6%) per year over the past 8 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO CONDUCT VARIOUS COMMUNITY AND PUBLIC SERVICE PROGRAMS, INCLUDING DISTRIBUTING HOLIDAY GIFTS TO NEEDY CHILDREN AND PROVIDING EDUCATIONAL SCHOLARSHIPS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GLOBE SANTA PROGRAM:THE MONEY RAISED FROM SOLICITED CONTRIBUTIONS IS USED TO PURCHASE HOLIDAY GIFTS FOR NEEDY CHILDREN. GIFTS ARE GIVEN TO INDIVIDUALS WHO REQUEST ASSISTANCE IN WRITING. THE POTENTIAL RECIPIENTS OF SUCH GIFTS ARE RECOMMENDED BY APPROPRIATE CHURCHES AND SOCIAL AGENCIES, SUBJECT TO VERIFICATION PRIOR TO GIFTS BEING MADE. IN 2020, GLOBE SANTA SERVED APPROXIMATELY 30,600 CHILDREN.
WINSHIP SCHOLARSHIP PROGRAM AND MAJORIE L. ADAMS SCHOLARSHIP PROGRAM:PROVIDES SCHOLARSHIP AID TO CHILDREN OF FULL-TIME EMPLOYEES OF THE BOSTON GLOBE.
NEWS IN EDUCATION:SUPPORTS A WIDE RANGE OF EDUCATION-RELATED PROJECTS INCLUDING AWARDING SCHOLARSHIPS AND WRITING AWARDS TO STUDENTS; AND, PROVIDING EDUCATORS AND STUDENTS WITH BOSTON GLOBE CONTENT AND CLASSROOM LESSONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Linda Pizzuti Henry Chairwomen/director | OfficerTrustee | 8 | $0 |
Charlotte Vena Clerk | OfficerTrustee | 0.1 | $0 |
Heidi Flood Board Member/director | Trustee | 0.1 | $0 |
Walter Silva Treasurer | OfficerTrustee | 0.1 | $0 |
Erin Maghran Board Member/director | Trustee | 0.1 | $0 |
Erika Hale Board Member/director | Trustee | 0.1 | $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 | $1,753,388 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,753,388 |
| Total Program Service Revenue | $0 |
| Investment income | $29,641 |
| 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 | $1,783,029 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,024,215 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $76,698 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $77,729 |
| Advertising and promotion | $0 |
| Office expenses | $26,423 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $971 |
| Total functional expenses | $1,426,136 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,586,245 |
| Savings and temporary cash investments | $1,253,648 |
| Pledges and grants receivable | $171,449 |
| 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 | $146,053 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $317,632 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,475,027 |
| Accounts payable and accrued expenses | $121,338 |
| 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 | $121,338 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $3,353,689 |
| 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 | $3,475,027 |