John E Somers Trust Nect
- Assets
- $780.9k
- Revenue
- $94.9k
- Investments
- $728.7k
- Employees
- 0
- Location
- Boston, MA
- Founding
- 12/1973
- Data as of
- 12/2022
- EIN
- 04-6012597
Organization Overview
John E Somers Trust Nect is located in Boston, MA. The organization was established in 1973. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., 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. John E Somers Trust Nect 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, John E Somers Trust Nect generated $94.9k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 7.7% each year. All expenses for the organization totaled $66.9k during the year ending 12/2022. While expenses have increased by 7.7% 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, John E Somers Trust Nect has awarded 11 individual grants totaling $138,955. 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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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $22,362 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $72,275 |
| Capital Gain Net Income | $72,275 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $299 |
| Total Revenue | $94,936 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $2,325 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $317 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $6 |
| Total operating and administrative expenses | $12,950 |
| Contributions, gifts, grants paid | $53,975 |
| Total expenses and disbursements | $66,925 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $52,259 |
| 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 | $15,352 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $780,944 |
| 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, John E Somers Trust Nect has awarded $53,975 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
YOUVILLE LIFE CARE PURPOSE: FOR ORGANIZATION'S GENERAL | $10,795 |
ST VINCENT DE PAUL SOCIETY PURPOSE: FOR ORGANIZATION'S GENERAL | $43,180 |