Berkshire Bank Foundation Inc
- Assets
- $19.7m
- Revenue
- $1.2m
- Investments
- $18.2m
- Employees
- 0
- Location
- Pittsfield, MA
- Founding
- 09/1997
- Data as of
- 12/2022
- EIN
- 04-3365869
Organization Overview
Berkshire Bank Foundation Inc is located in Pittsfield, 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. Berkshire Bank 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, Berkshire Bank Foundation Inc generated $1.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (17.8%) each year. All expenses for the organization totaled $3.4m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2022, Berkshire Bank Foundation Inc has awarded 636 individual grants totaling $3,364,080. 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 |
|---|---|---|---|
Donna Evan Trustee | 0 | $0 | |
Michael King Treasurer | 0 | $0 | |
Lorelei Kiely Secretary | 40 | $198,197 | |
Sean A Gray Chairman | 0 | $0 | |
Baye Adofo-Wilson Trustee | 0 | $0 | |
Jacqueline Courtwright Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $60 |
| Dividends & Interest | $430,199 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $817,371 |
| Capital Gain Net Income | $817,371 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,247,630 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $217,805 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $15,957 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $158,485 |
| Total operating and administrative expenses | $564,987 |
| Contributions, gifts, grants paid | $2,810,666 |
| Total expenses and disbursements | $3,375,653 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,409,100 |
| 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 | $18,178,632 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $154,479 |
| Total assets | $19,742,211 |
| Accounts payable and accrued expenses | $25,648 |
| Grants payable | $426,703 |
| 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 | $452,351 |
Grants Awarded
Over the last fiscal year, Berkshire Bank Foundation Inc has awarded $3,364,080 in support to 636 organizations.
| Grant Recipient | Amount |
|---|---|
1BERKSHIRE STRATEGIC ALLIANCE FOUNDATION PURPOSE: BERKSHIRE YOUTH LEADERSHIP PROGRAM | $5,000 |
15-LOVE PURPOSE: FORE LOVE AND MONEY GOLF AND TENNIS EVENT | $3,000 |
1BERKSHIRE STRATEGIC ALLIANCE FOUNDATION PURPOSE: THE TECH IMPACT COLLABORATIVE EQUITABLE DIGITAL ECONOMY INITIATIVE | $5,000 |
518 ELEVATED PURPOSE: PATHWAYS TO COLLEGE PROGRAM | $2,500 |
ACADEMY OF THE PACIFIC RIM CHARTER SCHOOL PURPOSE: PROGRAMS TO EMPOWERS STUDENTS OF ALL RACIAL AND ETHNIC BACKGROUNDS TO ACHIEVE THEIR FULL INTELLE... | $5,000 |
ADULT & TEEN CHALLENGE VERMONT PURPOSE: ADULT & TEEN CHALLENGE VERMONT SPRING GALA | $500 |