Salem Five Charitable Foundation Inc

Organization Overview

Salem Five Charitable Foundation Inc is located in Salem, MA. The organization was established in 1997. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Salem Five Charitable 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 12/2023, Salem Five Charitable Foundation Inc generated $3.9m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 12.5% each year . All expenses for the organization totaled $653.7k during the year ending 12/2023. While expenses have increased by 5.4% per year over the past 5 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 2020, Salem Five Charitable Foundation Inc has awarded 1,073 individual grants totaling $1,961,039. 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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Financial Statements

Statement of Revenue
Contributions, Gifts, Grants & Similar $2,701,256
Interest on Savings $24,753
Dividends & Interest $264,817
Net Rental Income$0
Net Gain on Sale of Assets $926,928
Capital Gain Net Income $1,674,042
Net ST Capital Gain $0
Income Modifications $0
Profit on Inventory Sales $0
Other Income $0
Total Revenue $3,917,754

Grants Awarded

Over the last fiscal year, Salem Five Charitable Foundation Inc has awarded $580,223 in support to 287 organizations.

Grant RecipientAmount

A LEG FOREVER FOUNDATION

PURPOSE: EXEMPT PURPOSES

$300

ALL CARE HOSPICE

PURPOSE: EXEMPT PURPOSES

$10,000

ALZHEIMER'S ASSOCIATION

PURPOSE: EXEMPT PURPOSES

$1,000

AMERICAN CANCER SOCIETY

PURPOSE: EXEMPT PURPOSES

$1,000

ANDOVER HOCKEY ASSOCIATION - VOID FROM PRIOR YEAR

PURPOSE: EXEMPT PURPOSES

-$300

ANNA JAQUES HOSPITAL INC

PURPOSE: EXEMPT PURPOSES

$1,000
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