Telemachus And Irene Demoulas Family Foundation
- Assets
- $195.5m
- Revenue
- $4.5m
- Investments
- $45.5m
- Employees
- 0
- Location
- Chelmsford, MA
- Founding
- 01/2002
- Data as of
- 12/2022
- EIN
- 04-3582759
Organization Overview
Telemachus And Irene Demoulas Family Foundation is located in Chelmsford, MA. The organization was established in 2002. 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. Telemachus And Irene Demoulas 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 12/2022, Telemachus And Irene Demoulas Family Foundation generated $4.5m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 30.1% each year . All expenses for the organization totaled $5.4m during the year ending 12/2022. While expenses have increased by 19.3% per year over the past 4 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 2020, Telemachus And Irene Demoulas Family Foundation has awarded 47 individual grants totaling $13,484,913. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOSPITAL & HEALTH ORGANIZATIONS
CHURCHES, TEMPLES, & RELIGIOUS
YOUTH ORGANIZATIONS
SCHOOLS, COLLEGES, UNIVERSITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Arthur T Demoulas Trustee | 2 | $0 | |
Frances I Demoulas Trustee | 0 | $0 | |
Glorianne Demoulas Trustee | 1 | $0 | |
Caren L Demoulas Trustee | 0 | $0 | |
Susan M Dufresne Administrator | 6 | $37,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $6,320 |
| Dividends & Interest | $3,782,164 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $741,924 |
| Capital Gain Net Income | $741,924 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $4,530,408 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $37,500 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $59,420 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,056 |
| Total operating and administrative expenses | $350,472 |
| Contributions, gifts, grants paid | $5,027,413 |
| Total expenses and disbursements | $5,377,885 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,387 |
| Savings and temporary cash investments | $3,950,144 |
| 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 | $17,344,716 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $145,980,023 |
| Total assets | $195,466,990 |
| 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 | $19,131 |
| Total liabilities | $19,131 |
Grants Awarded
Over the last fiscal year, Telemachus And Irene Demoulas Family Foundation has awarded $5,027,413 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
MASSACHUSETTS GENERAL HOSPITAL PURPOSE: HOSPITAL & HEALTH ORGANIZATIONS | $3,050,000 |
HOLY TRINITY GREEK ORTHODOX CHURCH PURPOSE: CHURCHES, TEMPLES, & RELIGIOUS | $949,913 |
BOYS & GIRLS CLUB LOWER MERRIMACK VALLEY PURPOSE: YOUTH ORGANIZATIONS | $25,000 |
CAMP HARBOR VIEW PURPOSE: YOUTH ORGANIZATIONS | $50,000 |
FEDERATION OF HELLENIC AMERICAN SOCIETIES OF NEW ENGLAND PURPOSE: CIVIC AND CULTURAL ORGANIZATIONS | $25,000 |
LAWRENCE GENERAL HOSPITAL PURPOSE: HOSPITAL & HEALTH ORGANIZATIONS | $75,000 |