Savage Family Foundation
- Assets
- $3.2m
- Revenue
- $251.7k
- Investments
- $3.0m
- Employees
- 0
- Location
- Needham, MA
- Founding
- 08/2000
- Data as of
- 08/2024
- EIN
- 04-3492839
Organization Overview
Savage Family Foundation is located in Needham, MA. The organization was established in 2000. 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. Savage Family Foundation 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 08/2024, Savage Family Foundation generated $251.7k 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 (6.8%) each year. All expenses for the organization totaled $218.8k during the year ending 08/2024. As we would expect to see with falling revenues, expenses have declined by (4.4%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Savage Family Foundation has awarded 106 individual grants totaling $1,402,667. 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 |
|---|---|---|---|
James B Savage President/dir | 0 | $0 | |
Jennifer S Mclean Director | 0 | $0 | |
Thomas W Savage Vice Pres/dir | 0 | $0 | |
Sally B Savage Director | 0 | $0 | |
Michael T Savage Treas/dir | 0 | $0 | |
Priscilla B Savage Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $94,701 |
| Interest on Savings | $0 |
| Dividends & Interest | $80,980 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $76,037 |
| Capital Gain Net Income | $76,037 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $251,718 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $926 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $34,647 |
| Contributions, gifts, grants paid | $184,167 |
| Total expenses and disbursements | $218,814 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $285,763 |
| Savings and temporary cash investments | $0 |
| 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 | $2,952,770 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,238,533 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| 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 | $0 |
Grants Awarded
Over the last fiscal year, Savage Family Foundation has awarded $184,167 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
COMMUNITY ART CENTER PURPOSE: GENERAL CHARITABLE | $5,000 |
GIRLS INC PURPOSE: GENERAL CHARITABLE | $7,500 |
PENOBSCOT MARINE MUSEUM PURPOSE: GENERAL CHARITABLE | $5,000 |
WALDO COUNTY YMCA PURPOSE: GENERAL CHARITABLE | $20,000 |
RAW ARTS PURPOSE: GENERAL CHARITABLE | $7,500 |
PROJECT STEP PURPOSE: GENERAL CHARITABLE | $5,000 |