Bob Sullivan Memorial Foundation Inc
- Assets
- $466.9k
- Revenue
- $39.5k
- Investments
- $327.6k
- Employees
- 0
- Location
- Norwell, MA
- Founding
- 05/1994
- Data as of
- 12/2022
- 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 12/2022, Bob Sullivan Memorial Foundation Inc generated $39.5k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.8% each year. All expenses for the organization totaled $10.8k during the year ending 12/2022. 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
2022
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 | |
Joe Zaccheo Clerk | 1 | $0 | |
Robert D Sullivan Director | 1 | $0 | |
William Sullivan Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $20,650 |
| Interest on Savings | $183 |
| Dividends & Interest | $6,124 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $12,418 |
| Capital Gain Net Income | $12,418 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $120 |
| Total Revenue | $39,495 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,058 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $50 |
| Total operating and administrative expenses | $1,828 |
| Contributions, gifts, grants paid | $9,000 |
| Total expenses and disbursements | $10,828 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $76,465 |
| Savings and temporary cash investments | $62,875 |
| 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 | $308,808 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $466,918 |
| 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 $9,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF RHODE ISLAND PURPOSE: SUPPORT FOR EDUCATION | $3,000 |
MARTIN ELECTRICAL & TECHNICAL SCHOOL PURPOSE: SUPPORT FOR EDUCATION | $3,000 |
UNIVERSITY OF MASSACHUSETTS DARTMOUTH PURPOSE: SUPPORT FOR EDUCATION | $3,000 |