Marty Meehan Educational Foundation Inc
- Assets
- $3.8m
- Revenue
- $340.9k
- Investments
- $3.6m
- Employees
- 0
- Location
- Lowell, MA
- Founding
- 11/2001
- Data as of
- 12/2021
- EIN
- 04-3580154
Organization Overview
Marty Meehan Educational Foundation Inc is located in Lowell, MA. The organization was established in 2001. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Marty Meehan Educational 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 12/2021, Marty Meehan Educational Foundation Inc generated $340.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (39.7%) each year. All expenses for the organization totaled $215.1k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Marty Meehan Educational Foundation Inc has awarded 47 individual grants totaling $1,055,800. 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 Mission:
Part 3 - Line 1
TO ADVANCE ACCESS TO EDUCATION THROUGH THE PROVISIONS OF SCHOLARSHIPS & FINANCIAL SUPPORT & TO PROVIDE GRANTS AND SUPPORT TO CHARITABLE ORGANIZATIONS & EDUCATIONAL INSTITUTIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ADVANCE ACCESS TO EDUCATION THROUGH THE PROVISIONS OF SCHOLARSHIPS & FINANCIAL SUPPORT & TO PROVIDE GRANTS AND SUPPORT TO CHARITABLE ORGANIZATIONS & EDUCATIONAL INSTITUTIONS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Emily Byrne Treasurer | 1 | $0 | |
Robert Normandin Director | 1 | $0 | |
Barbara O'neil Secretary | 1 | $0 | |
Fawn Andersen President | 1 | $0 | |
William Martin Vice-President | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $28 |
| Dividends & Interest | $104,294 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $236,612 |
| Capital Gain Net Income | $236,612 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $340,934 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $4,282 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $877 |
| Printing and publications | $0 |
| Other expenses | $46 |
| Total operating and administrative expenses | $41,632 |
| Contributions, gifts, grants paid | $173,500 |
| Total expenses and disbursements | $215,132 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $243,538 |
| 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 | $121 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,348,116 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,844,501 |
| 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, Marty Meehan Educational Foundation Inc has awarded $173,500 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
UMASS AMHERST PURPOSE: CHARITABLE. | $100,000 |
Lowell, MA PURPOSE: CHARITABLE. | $11,000 |
THE BASE PURPOSE: CHARITABLE. | $10,000 |
KING BOSTON FUND PURPOSE: CHARITABLE. | $10,000 |
Groton, MA PURPOSE: CHARITABLE. | $10,000 |
THE NEW ENGLAND PATRIOTS FOUNDATION PURPOSE: CHARITABLE. | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Alfred P Sloan Foundation New York, NY | $2,105,880,634 | $192,527,982 |
Massachusetts Higher Education Assistance Corporation Boston, MA | $1,090,709,677 | $124,087,298 |
Mastercard Impact Fund Purchase, NY | $207,268,769 | $96,050,288 |
N H Higher Education Loan Corporation Concord, NH | $928,313,847 | $60,034,018 |
Arcus Foundation New York, NY | $264,733,626 | $35,703,685 |
Edward P Evans Andover, MA | $242,161,195 | $13,916,833 |
The Childrens Scholarship Fund New York, NY | $36,136,002 | $24,710,520 |
Math For America Inc New York, NY | $15,709,494 | $20,036,646 |
Ja Worldwide Inc Boston, MA | $14,229,210 | $21,801,943 |
The Posse Foundation Inc New York, NY | $120,660,725 | $44,739,225 |
Inner-City Scholarship Fund Inc New York, NY | $115,829,957 | $24,751,034 |
Joan And Irwin Jacobs Technion-Cornell Innovation Instit New York, NY | $205,040,861 | $18,316,542 |