Essex County Community Foundation Incorporated
- Assets
- $116.0m
- Revenue
- $28.4m
- Investments
- $0.0
- Employees
- 19
- Location
- Danvers, MA
- Founding
- 06/1998
- Data as of
- 06/2022
- 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 06/2022, Essex County Community Foundation Incorporated employed 19 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 06/2022, Essex County Community Foundation Incorporated generated $28.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $18.5m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Essex County Community Foundation Incorporated has awarded 1,451 individual grants totaling $79,273,608. 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
2022
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 EFFECTS 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 |
|---|---|---|---|
M Elizabeth Francis President An | Officer | 40 | $182,346 |
Stratton Lloyd COO | Officer | 40 | $150,679 |
Stacey Landry Dir. Of Stra | 40 | $127,840 | |
J Britton Hutchins CFO | 40 | $124,519 | |
Carol Schuster VP For Grant | 40 | $100,201 | |
Richard Yagjian Vice-Preside | OfficerTrustee | 1 | $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 | $1,735,265 |
| All other contributions, gifts, grants, and similar amounts not included above | $21,792,344 |
| Noncash contributions included in lines 1a–1f | $5,373,862 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $23,527,609 |
| Total Program Service Revenue | $344,573 |
| Investment income | $1,993,842 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,548,223 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $28,414,247 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $14,364,277 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $35,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $392,639 |
| Compensation of current officers, directors, key employees. | $204,173 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,044,956 |
| Pension plan accruals and contributions | $30,158 |
| Other employee benefits | $86,178 |
| Payroll taxes | $104,913 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,319 |
| Fees for services: Accounting | $18,528 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $9,902 |
| Fees for services: Other | $1,120,986 |
| Advertising and promotion | $0 |
| Office expenses | $201,838 |
| Information technology | $67,310 |
| Royalties | $0 |
| Occupancy | $103,784 |
| Travel | $10,073 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $67,122 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,648 |
| Insurance | $7,119 |
| All other expenses | $0 |
| Total functional expenses | $18,466,093 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,028,422 |
| Savings and temporary cash investments | $16,256 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $317,505 |
| 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 | $17,334 |
| Net Land, buildings, and equipment | $13,861 |
| Investments—publicly traded securities | $113,635,965 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $116,029,343 |
| Accounts payable and accrued expenses | $179,709 |
| Grants payable | $344,566 |
| 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 | $17,662,523 |
| Total liabilities | $18,186,798 |
| Net assets without donor restrictions | $91,261,580 |
| Net assets with donor restrictions | $6,580,965 |
| 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 | $116,029,343 |
Grants Awarded
Over the last fiscal year, Essex County Community Foundation Incorporated has awarded $13,145,652 in support to 297 organizations.
| Grant Recipient | Amount |
|---|---|
Utica, NY | | $444,872 |
Danvers, MA | | $411,750 |
CITY OF SALEM | | | $302,100 |
Lawrence, MA | | $294,000 |
Beverly, MA | | $273,680 |
Lawrence, MA | | $263,500 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Essex County Community Foundation Incorporated has recieved totaling $14,500.
| Awarding Organization | Amount |
|---|---|
Institution For Savings In Newbrypt & Its Vcnty Chrtble Foundation Inc Newburyport, MA PURPOSE: EXEMPT PURPOSE | $14,500 |
Endowment Analysis
| Beg. Balance | $26,640,252 |
| Earnings | -$3,500,248 |
| Net Contributions | $903,050 |
| Other Expense | -$1,756,112 |
| Ending Balance | $22,286,942 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Foundation For Greater Buffalo Inc Buffalo, NY | $874,380,305 | $143,802,626 |
Community Foundation For Greater New Haven New Haven, CT | $745,279,119 | $58,670,540 |
Federation Of Jewish Communities Of The C I S Inc New York, NY | $45,162,356 | $39,631,208 |
Fairfield Countys Community Foundation Inc Norwalk, CT | $264,164,706 | $42,534,303 |
Vermont Community Foundation Middlebury, VT | $310,876,312 | $39,275,546 |
Rochester Area Community Foundation Rochester, NY | $452,673,006 | $59,557,190 |
Catholic Charities Of Buffalo Buffalo, NY | $41,576,335 | $33,263,179 |
New World Foundation New York, NY | $131,879,332 | $14,635,341 |
Central New York Community Foundation Inc Syracuse, NY | $395,864,792 | $49,020,873 |
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 |