Foundation For Metrowest Inc
- Assets
- $31.2m
- Revenue
- $9.3m
- Investments
- $0.0
- Employees
- 14
- Location
- Natick, MA
- Founding
- 08/1995
- Data as of
- 12/2021
- EIN
- 04-3266789
Organization Overview
Foundation For Metrowest Inc is located in Natick, MA. The organization was established in 1995. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Foundation For Metrowest Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation For Metrowest 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, Foundation For Metrowest Inc generated $9.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.7% each year . All expenses for the organization totaled $5.4m during the year ending 12/2021. While expenses have increased by 12.0% 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.
Since 2015, Foundation For Metrowest Inc has awarded 698 individual grants totaling $16,499,572. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION FOR METROWEST CONNECTS PHILANTHROPIC OPPORTUNITY WITH DEMONSTRATED NEED IN METROWEST. WE PROMOTE PHILANTHROPY IN THE REGION, HELP DONORS MAXIMIZE THE IMPACT OF THEIR LOCAL GIVING, SERVE AS A RESOURCE FOR LOCAL NON-PROFIT ORGANIZATIONS, AND ENHANCE THE QUALITY OF LIFE FOR ALL OF OUR CITIZENS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ATTRACT FUNDS TO DISTRIBUTE GRANTS AND LOANS TO LOCAL AGENCIES BY CREATING AWARENESS AMONG COMMUNITY BUSINESSES AND THE GENERAL PUBLIC FOR CHARITABLE GIVING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jay Kim Executive Di | Officer | 40 | $160,540 |
Judith Salerno Former Exec | Officer | 40 | $155,270 |
Susan Elliot Treasurer | OfficerTrustee | 5 | $0 |
Roland Hoch Vice Chair | OfficerTrustee | 5 | $0 |
Michael Mcauliffe Chairman | OfficerTrustee | 5 | $0 |
Christine Miller Secretary | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $348,675 |
| Related organizations | $0 |
| Government grants | $1,095,325 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,263,315 |
| Noncash contributions included in lines 1a–1f | $1,103,350 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,707,315 |
| Total Program Service Revenue | $10,062 |
| Investment income | $477,885 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,750 |
| Net Gain/Loss on Asset Sales | $3,093,657 |
| Net Income from Fundraising Events | -$28,831 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,263,838 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,723,053 |
| Grants and other assistance to domestic individuals. | $37,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $337,233 |
| Compensation of current officers, directors, key employees. | $50,076 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $537,759 |
| Pension plan accruals and contributions | $12,640 |
| Other employee benefits | $28,957 |
| Payroll taxes | $78,894 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $315 |
| Fees for services: Accounting | $25,686 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $117,759 |
| Fees for services: Other | $66,450 |
| Advertising and promotion | $0 |
| Office expenses | $56,827 |
| Information technology | $63,592 |
| Royalties | $0 |
| Occupancy | $60,000 |
| 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 | $7,738 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $5,405,551 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $624,691 |
| Savings and temporary cash investments | $188,631 |
| Pledges and grants receivable | $918,683 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $26,353 |
| Net Land, buildings, and equipment | $5,457 |
| Investments—publicly traded securities | $29,427,885 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $24,824 |
| Total assets | $31,216,524 |
| Accounts payable and accrued expenses | $11,486 |
| Grants payable | $130,000 |
| 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 | $1,967 |
| Other liabilities | $1,055,069 |
| Total liabilities | $1,198,522 |
| Net assets without donor restrictions | $24,282,298 |
| Net assets with donor restrictions | $5,735,704 |
| 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 | $31,216,524 |
Grants Awarded
Over the last fiscal year, Foundation For Metrowest Inc has awarded $3,543,053 in support to 116 organizations.
| Grant Recipient | Amount |
|---|---|
SUM OF ALL GRANTS UNDER 5K | | | $244,838 |
Medfield, MA PURPOSE: GENERAL SUPPORT | $238,538 |
Framingham, MA PURPOSE: GENERAL SUPPORT | $223,000 |
Waltham, MA PURPOSE: GENERAL SUPPORT | $195,000 |
Framingham, MA PURPOSE: GENERAL SUPPORT | $136,000 |
Waltham, MA PURPOSE: GENERAL SUPPORT | $100,000 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Foundation For Metrowest Inc has recieved totaling $526,100.
| Awarding Organization | Amount |
|---|---|
Mathworks Foundation Inc Natick, MA PURPOSE: EXEMPT PURPOSE | $225,000 |
Middlesex Savings Charitable Foundation Inc Natick, MA PURPOSE: EXEMPT PURPOSE | $183,000 |
Middlesex Savings Charitable Foundation Inc Natick, MA PURPOSE: EXEMPT PURPOSE | $68,000 |
Yale Charitable Foundation Stoughton, MA PURPOSE: CHARITABLE | $50,000 |
Independence Public Media Of Philadelphia Inc Philadelphia, PA PURPOSE: BOARD OR STAFF DONATION | $100 |
Endowment Analysis
| Beg. Balance | $18,018,670 |
| Earnings | $2,156,046 |
| Net Contributions | $414,096 |
| Other Expense | -$51,005 |
| Grants | $868,466 |
| Ending Balance | $19,771,351 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Foundation Of Western Massachusetts Springfield, MA | $263,677,089 | $50,890,910 |
Essex County Community Foundation Incorporated Danvers, MA | $116,029,343 | $28,414,247 |
Community Foundations Of The Hudson Valley Poughkeepsie, NY | $96,104,226 | $20,607,422 |
The Berkshire Taconic Community Foundation Inc Sheffield, MA | $235,546,714 | $26,961,716 |
Greater Worcester Community Foundation Inc Worcester, MA | $200,476,252 | $22,847,423 |
Community Foundation Of Herkimer And Oneida Counties Inc Utica, NY | $207,402,752 | $30,922,448 |
Community Foundation Of Eastern Connecticut New London, CT | $123,416,332 | $10,480,728 |
Southcoast Community Foundation Inc New Bedford, MA | $53,147,669 | $13,725,688 |
The Community Foundation For The Greater Capital Region Inc Albany, NY | $120,227,075 | $24,885,752 |
Connecticut Community Foundation Inc Waterbury, CT | $154,014,275 | $11,174,882 |
Adirondack Foundation Lake Placid, NY | $81,334,603 | $18,009,853 |
New York City Partnership Foundation Inc New York, NY | $45,208,462 | $5,342,641 |