Bob Sullivan Memorial Foundation Inc
- Assets
- $438.3k
- Revenue
- $64.0k
- Investments
- $325.5k
- Employees
- 0
- Location
- Norwell, MA
- Founding
- 05/1994
- Data as of
- 12/2021
- EIN
- 04-3214451
Organization Overview
Bob Sullivan Memorial Foundation Inc is located in Norwell, MA. The organization was established in 1994. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bob Sullivan Memorial 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, Bob Sullivan Memorial Foundation Inc generated $64.0k 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 $26.0k during the year ending 12/2021. While expenses have increased by 3.0% 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION DOES NOT CONDUCT ANY DIRECT CHARITABLE ACTIVITIES. THE FOUNDATION'S ONLY ACTIVITY IS TO MAKE CHARITABLE CONTRIBUTIONS TO APPROVED ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Sullivan President | 5 | $0 | |
Maureen Cullity Treasurer | 5 | $0 | |
Ralph J Rivkind Clerk | 1 | $0 | |
Robert D Sullivan Director | 1 | $0 | |
William Sullivan Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $25,400 |
| Interest on Savings | $214 |
| Dividends & Interest | $16,040 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $22,278 |
| Capital Gain Net Income | $22,278 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $106 |
| Total Revenue | $64,038 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $180 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,088 |
| Total operating and administrative expenses | $1,988 |
| Contributions, gifts, grants paid | $24,000 |
| Total expenses and disbursements | $25,988 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $66,289 |
| Savings and temporary cash investments | $46,503 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $306,707 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $438,269 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Bob Sullivan Memorial Foundation Inc has awarded $24,000 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
Boston, MA PURPOSE: SUPPORT FOR EDUCATION | $3,000 |
Smithfield, RI PURPOSE: SUPPORT FOR EDUCATION | $3,000 |
Bristol, RI PURPOSE: SUPPORT FOR EDUCATION | $3,000 |
Amherst, MA PURPOSE: SUPPORT FOR EDUCATION | $3,000 |
SOUTHERN NH UNIVERSITY PURPOSE: SUPPORT FOR EDUCATION | $3,000 |
Northfield, VT PURPOSE: SUPPORT FOR EDUCATION | $3,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Vermont Student Development Fund Inc Winooski, VT | $17,468,961 | $10,359,436 |
The Teagle Foundation Incorporated New York, NY | $172,379,349 | $12,655,674 |
Jackie Robinson Foundation Inc New York, NY | $30,161,175 | $8,662,334 |
The Cape Cod Community College Educational Foundation Inc West Barnstable, MA | $15,428,827 | $3,042,413 |
Cape Cod Foundation Inc South Yarmouth, MA | $88,834,376 | $21,531,654 |
Gilder Lehrman Institute Of American History New York, NY | $67,600,972 | $8,993,543 |
Uaspire Inc Boston, MA | $8,161,176 | $8,929,537 |
Target Als Foundation Inc New York, NY | $26,527,264 | $6,977,665 |
Pursuit Transformation Company Inc Long Island City, NY | $13,294,970 | $6,856,404 |
Firemens Association Of The State New York Foundation Inc Albany, NY | $161,398,482 | $10,617,589 |
Morgan Stanley Foundation Inc New York, NY | $117,614,938 | $39,846,453 |
Stephen Phillips Memorial Scholarship Fund Inc Boston, MA | $45,790,109 | $8,308,700 |