Mfs Charitable Foundations Inc
- Assets
- $188.9k
- Revenue
- $50.5k
- Investments
- $140.5k
- Employees
- 0
- Location
- Norwell, MA
- Founding
- 09/2000
- Data as of
- 12/2021
- EIN
- 04-3500194
Organization Overview
Mfs Charitable Foundations Inc is located in Norwell, MA. The organization was established in 2000. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Mfs Charitable Foundations 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 12/2021, Mfs Charitable Foundations Inc generated $50.5k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 18.5% each year . All expenses for the organization totaled $31.4k during the year ending 12/2021. While expenses have increased by 4.0% per year over the past 7 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 2015, Mfs Charitable Foundations Inc has awarded 27 individual grants totaling $206,500. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION DOES NOT CONDUCT ANY DIRECT CHARITABLE ACTIVITIES. THE FOUNDATION'S ONLY ACTIVITY IS TO MAKE CHARITABLE CONTRIBUTIONS TO APPROVED ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert D Sullivan Treasurer | 1 | $0 | |
Paul J Sullivan President/director | 1 | $0 | |
Maureen Cullity Clerk | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $25,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $4,252 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $21,203 |
| Capital Gain Net Income | $21,203 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $50,455 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $137 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $136 |
| Total operating and administrative expenses | $1,398 |
| Contributions, gifts, grants paid | $30,000 |
| Total expenses and disbursements | $31,398 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $48,354 |
| 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 | $140,523 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $188,877 |
| 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, Mfs Charitable Foundations Inc has awarded $30,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
SOUTH SHORE HOSPITAL PURPOSE: TO SUPPORT THE CHARITY'S MISSION. | $13,000 |
FRIENDSHIP HOME PURPOSE: TO SUPPORT THE CHARITY'S MISSION. | $8,000 |
OLD COLONY YMCA PURPOSE: TO SUPPORT THE CHARITY'S MISSION. | $8,000 |
Marshfield, MA PURPOSE: TO SUPPORT THE CHARITY'S MISSION. | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Richard K Lubin Family Foundation Boston, MA | $152,996,918 | $13,537,947 |
The Selz Foundation New York, NY | $142,395,054 | $24,456,334 |
The Derfner Foundation New York, NY | $158,472,968 | $13,106,656 |
Jill Roberts Charitable Foundation Inc Garden City, NY | $11,485 | $9,710,793 |
James And Merryl Tisch Foundation Inc New York, NY | $1,291,425 | $11,020,609 |
Tortuga Foundation New York, NY | $110,168,381 | $33,186,414 |
The Joseph H Flom Foundation New York, NY | $6,836,169 | $3,314,736 |
The Applebaum Foundation Inc New York, NY | $229,643,281 | $16,929,047 |
Deutsche Bank Americas Foundation New York, NY | $38,867,163 | $11,020,529 |
Charles A Dana Fdn Inc New York, NY | $248,257,333 | $20,769,847 |
Motulsky-Nacht Family Foundation New York, NY | $171,149,787 | $10,722,392 |
Griffith R Harsh Iv And Margaret Cwhitman Charitable Foundation Albany, NY | $153,022,620 | $10,234,389 |