John E Somers Trust Nect
- Assets
- $751.1k
- Revenue
- $56.9k
- Investments
- $695.8k
- Employees
- 0
- Location
- Boston, MA
- Founding
- 12/1973
- Data as of
- 12/2021
- 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 12/2021, John E Somers Trust Nect generated $56.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (6.9%) each year. All expenses for the organization totaled $61.0k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, John E Somers Trust Nect has awarded 14 individual grants totaling $122,126. 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 | $21,898 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $34,293 |
| Capital Gain Net Income | $34,293 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $732 |
| Total Revenue | $56,923 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $2,573 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $223 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $39 |
| Total operating and administrative expenses | $13,202 |
| Contributions, gifts, grants paid | $47,834 |
| Total expenses and disbursements | $61,036 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $337 |
| Savings and temporary cash investments | $55,002 |
| 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 | $28,152 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $751,130 |
| 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 $47,834 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
ST VINCENT DE PAUL SOCIETY PURPOSE: FOR ORGANIZATION'S GENERAL | $35,048 |
Tewksbury, MA PURPOSE: FOR ORGANIZATION'S GENERAL | $9,567 |
ST VINCENT DE PAUL SOCIETY ST JOHNS CHUR PURPOSE: FOR ORGANIZATION'S GENERAL | $2,414 |
ST NINIAN'S CATHEDRAL PURPOSE: FOR ORGANIZATION'S GENERAL | $805 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bam Endowment Trust Brooklyn, NY | $106,959,115 | $5,566,840 |
John R Oishei Consolidated Tr 01091998 Buffalo, NY | $21,967,662 | $5,743,689 |
Goldstein Family Foundation Spring Valley, NY | $15,534,248 | $10,502,547 |
Sol Goldman Charitable Trust New York, NY | $0 | $3,639,060 |
Schwartz Fam Foundation Tr New York, NY | $15,701,646 | $4,641,500 |
Lyford Cay Foundation Inc Greenwich, CT | $29,953,842 | $2,393,799 |
Wings For Things Foundation Inc Sandy Hook, CT | $31,046,537 | $6,302,092 |
Stephanie And Lawrence Flinn Jr Charitable Trust Rye, NY | $38,008,610 | $1,545,118 |
Sunshine Foundation Woodbury, NY | $26,794,175 | $2,071,620 |
Peter A And Deborah L Weinberg Family Foundation Albany, NY | $9,427,245 | $1,958,603 |
Trustees Under The Will Of Herman Dana Newton, MA | $0 | $3,151,156 |
Borrego Foundation Larchmont, NY | $44,485,466 | $2,189,586 |