Technical Training Foundation
- Assets
- $51.4m
- Revenue
- $2.9m
- Investments
- $51.0m
- Employees
- 0
- Location
- Beverly, MA
- Founding
- 06/1989
- Data as of
- 08/2021
- EIN
- 04-2864138
Organization Overview
Technical Training Foundation is located in Beverly, MA. The organization was established in 1989. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Technical Training Foundation 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 08/2021, Technical Training Foundation generated $2.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (43.8%) each year. All expenses for the organization totaled $4.8m during the year ending 08/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Technical Training Foundation has awarded 56 individual grants totaling $13,497,269. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matiullah Amin Director Of Operatio | 40 | $70,837 | |
Vicky Garcia Garcia Bookkeeper | 40 | $43,420 | |
Wensley Hefni Trustee | 20 | $0 | |
Suzanne Wright Trustee | 20 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $97,344 |
| Dividends & Interest | $1,366,497 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,473,318 |
| Capital Gain Net Income | $1,473,318 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $582 |
| Total Revenue | $2,937,741 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $114,257 |
| Pension plans, employee benefits | $37,856 |
| Interest | $0 |
| Taxes | $37,537 |
| Depreciation | $0 |
| Occupancy | $12,300 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $22,779 |
| Total operating and administrative expenses | $446,539 |
| Contributions, gifts, grants paid | $4,310,395 |
| Total expenses and disbursements | $4,756,934 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $128,933 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $234,701 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $4,943,503 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $6,175 |
| Total assets | $51,377,533 |
| Accounts payable and accrued expenses | $58,265 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | -$13,720 |
| Total liabilities | $44,545 |
Grants Awarded
Over the last fiscal year, Technical Training Foundation has awarded $4,310,395 in support to 20 organizations.
| Grant Recipient | Amount |
|---|---|
NOTRE DAME HIGH SCHOOL PURPOSE: GRANTS | $1,000,000 |
Windham, NH PURPOSE: GRANTS | $500,000 |
Los Angeles, CA PURPOSE: GRANTS | $333,333 |
Los Angeles, CA PURPOSE: GRANTS | $333,333 |
LANDMARK PURPOSE: GRANTS | $333,333 |
Los Angeles, CA PURPOSE: GRANTS | $300,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John R Oishei Foundation Buffalo, NY | $294,151,477 | $18,357,929 |
American Express Foundation New York, NY | $66,234,265 | $62,922,703 |
Essel Foundation Inc Purchase, NY | $100,106,056 | $12,292,478 |
Beth And Ravenel Curry Foundation New York, NY | $0 | $44,744,046 |
Kz Family Foundation New York, NY | $10,936,301 | $30,139,672 |
The Freeman Foundation P-01644-00-7 New York, NY | $343,405,683 | $35,941,951 |
Hearst Foundation Inc New York, NY | $439,249,947 | $42,040,987 |
Tansy Charitable Foundation New York, NY | $325,076,608 | $77,631,295 |
Eastern Bank Charitable Foundation Lynn, MA | $286,575,476 | $18,352,628 |
G Harold And Leila Mathers Charitable Foundation Rye Brook, NY | $96,045,942 | $16,941,265 |
Elms Foundation Providence, RI | $0 | -$22,907 |
Thomas L Kempner Jr Foundation Inc Southampton, NY | $328,355,645 | $44,754,721 |