Essex County Community Foundation Incorporated
- Assets
- $126.6m
- Revenue
- $22.7m
- Investments
- $0.0
- Employees
- 24
- Location
- Danvers, MA
- Founding
- 06/1998
- Data as of
- 06/2023
- EIN
- 04-3407816
Organization Overview
Essex County Community Foundation Incorporated is located in Danvers, MA. The organization was established in 1998. 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 06/2023, Essex County Community Foundation Incorporated employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Essex County Community Foundation Incorporated 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 06/2023, Essex County Community Foundation Incorporated generated $22.7m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $22.7m during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Essex County Community Foundation Incorporated has awarded 1,884 individual grants totaling $102,511,127. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO INSPIRE PHILANTHROPY THAT STRENGTHENS THE 34 CITIES AND TOWNS OF ESSEX COUNTY. THIS WORK IS ACHIEVED BY MANAGING DONORS' CHARITABLE FUNDS, STRENGTHENING AND SUPPORTING NONPROFITS AND STUDENTS WITH GRANTS AND RESOURCES, AND BRINGING PEOPLE TOGETHER IN COMMUNITY LEADERSHIP WORK THAT AFFECTS CHANGE IN ESSEX COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO RAISE AND DISTRIBUTE FUNDS FROM THE COMMUNITY FOR THE BENEFIT OF CHARITABLE ORGANIZATIONS PRIMARILY IN ESSEX COUNTY, MASSACHUSETTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Moira Mcnamara James Chair Of Dev | Trustee | 1 | $0 |
James A Rullo Chair Of Inv | Trustee | 1 | $0 |
Richard Yagjian Trustee | Trustee | 1 | $0 |
Robert Goldman Clerk | OfficerTrustee | 1 | $0 |
Ben Langille Trustee | Trustee | 1 | $0 |
John Colucci Chairman | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Archipelago Strategies Group Marketing | 6/29/22 | $681,625 |
Greater Horizon Accounting | 6/29/22 | $109,404 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,370,569 |
| All other contributions, gifts, grants, and similar amounts not included above | $14,187,997 |
| Noncash contributions included in lines 1a–1f | $1,653,076 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $18,558,566 |
| Total Program Service Revenue | $669,829 |
| Investment income | $2,629,892 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $817,736 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $22,676,023 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $18,078,746 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $42,500 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $420,675 |
| Compensation of current officers, directors, key employees. | $201,924 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,327,816 |
| Pension plan accruals and contributions | $41,878 |
| Other employee benefits | $105,647 |
| Payroll taxes | $132,111 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $18,249 |
| Fees for services: Accounting | $25,015 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $21,326 |
| Fees for services: Other | $553,769 |
| Advertising and promotion | $0 |
| Office expenses | $192,097 |
| Information technology | $96,835 |
| Royalties | $0 |
| Occupancy | $108,959 |
| Travel | $23,554 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $56,544 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,222 |
| Insurance | $7,665 |
| All other expenses | $0 |
| Total functional expenses | $22,735,694 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $683,632 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,318,098 |
| 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 | $47,748 |
| Net Land, buildings, and equipment | $11,203 |
| Investments—publicly traded securities | $124,511,876 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $76,575 |
| Total assets | $126,649,132 |
| Accounts payable and accrued expenses | $223,451 |
| Grants payable | $2,967,761 |
| 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 | $0 |
| Other liabilities | $19,592,230 |
| Total liabilities | $22,783,442 |
| Net assets without donor restrictions | $96,590,180 |
| Net assets with donor restrictions | $7,275,510 |
| 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 | $126,649,132 |
Grants Awarded
Over the last fiscal year, Essex County Community Foundation Incorporated has awarded $17,546,713 in support to 318 organizations.
| Grant Recipient | Amount |
|---|---|
412 INC | | | $9,600 |
826 BOSTON INC | | | $8,500 |
ACT LAWRENCE INC | | | $14,500 |
ACTING OUT THEATER COMPANY | | | $7,000 |
ACT LAWRENCE INC | | | $50,000 |
ACTION INC | | | $120,000 |