Ernest Fortin Memorial Foundation Inc
- Assets
- $34.9k
- Revenue
- $5.0k
- Investments
- $34.5k
- Employees
- 0
- Location
- Beverly, MA
- Founding
- 07/2001
- Data as of
- 12/2022
- EIN
- 04-3544279
Organization Overview
Ernest Fortin Memorial Foundation Inc is located in Beverly, MA. The organization was established in 2001. 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. Ernest Fortin Memorial 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, Ernest Fortin Memorial Foundation Inc generated $5.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (11.0%) each year. All expenses for the organization totaled $40.5k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dennis Gallagher President | 0 | $0 | |
Martha Rice Martini Treasurer & Secretary | 0 | $0 | |
Stephen F Brown Director | 0 | $0 | |
Robert Faulkner Director | 0 | $0 | |
Daniel J Mahoney Director | 0 | $0 | |
Rev Paul W Mcnellis Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $15 |
| Dividends & Interest | $1,019 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $4,012 |
| Capital Gain Net Income | $4,012 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $5,046 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $158 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $84 |
| Total operating and administrative expenses | $2,517 |
| Contributions, gifts, grants paid | $38,000 |
| Total expenses and disbursements | $40,517 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $389 |
| 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 | $34,523 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $34,912 |
| 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, Ernest Fortin Memorial Foundation Inc has awarded $38,000 in support to 19 organizations.
| Grant Recipient | Amount |
|---|---|
AUSTIN WILLIAMS PURPOSE: EDUCATIONAL GRANT | $2,000 |
GUANG YANG PURPOSE: EDUCATIONAL GRANT | $2,000 |
JOHN D STREICHEN II PURPOSE: EDUCATIONAL GRANT | $2,000 |
MAGNUS FERGUSON PURPOSE: EDUCATIONAL GRANT | $2,000 |
NATHAN DAVIS PURPOSE: EDUCATIONAL GRANT | $2,000 |
NICOLAS WESTBERG PURPOSE: EDUCATIONAL GRANT | $2,000 |