Isabel Babson Memorial Incorporated
- Assets
- $3.9m
- Revenue
- $21.6k
- Investments
- $3.4m
- Employees
- 0
- Location
- Gloucester, MA
- Founding
- 11/1963
- Data as of
- 12/2023
- EIN
- 04-6031813
Organization Overview
Isabel Babson Memorial Incorporated is located in Gloucester, MA. The organization was established in 1963. According to its NTEE Classification (A80) the organization is classified as: Historical Organizations, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Isabel Babson Memorial Incorporated 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 12/2023, Isabel Babson Memorial Incorporated generated $21.6k 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 (29.6%) each year. All expenses for the organization totaled $196.4k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
FREE LIBRARY WHICH DISSEMINATES INFORMATION FOR EXPECTANT MOTHERS NEWBORN CARE CHILD DEVELOPMENT AND PROMOTION OF A HEALTHY FAMILY LIFE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary C Brackett President & Trustee | 30 | $51,000 | |
G Kevin Quinn Trustee | 10 | $1,600 | |
Sandra J Andreson Trustee | 2 | $1,600 | |
Margaret R Quinn Treasurer Secretary | 5 | $13,000 | |
Louise C Quinn Trustee | 1 | $1,600 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $59,814 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$38,206 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $21,608 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $64,000 |
| Other employee salaries and wages | $44,681 |
| Pension plans, employee benefits | $28,599 |
| Interest | $0 |
| Taxes | $9,903 |
| Depreciation | $857 |
| Occupancy | $18,003 |
| Travel, conferences, and meetings | $720 |
| Printing and publications | $0 |
| Other expenses | $5,912 |
| Total operating and administrative expenses | $176,439 |
| Contributions, gifts, grants paid | $20,000 |
| Total expenses and disbursements | $196,439 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $444,579 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $26,470 |
| Other assets | $14,626 |
| Total assets | $3,858,356 |
| 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, Isabel Babson Memorial Incorporated has awarded $20,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF RHODE ISLAND PURPOSE: SCHOLARSHIP TO PROVIDE FUTURE MATERNITY AND NEWBORN NURSING SERVICES. | $5,000 |
UNIVERSITY OF NEW ENGLAND PURPOSE: SCHOLARSHIP TO PROVIDE FUTURE MATERNITY AND NEWBORN NURSING SERVICES. | $5,000 |
FITCHBURG STATE UNIVERSITY PURPOSE: SCHOLARSHIP TO PROVIDE FUTURE MATERNITY AND NEWBORN NURSING SERVICES. | $5,000 |
MOUNT HOLYOKE COLLEGE PURPOSE: SCHOLARSHIP TO PROVIDE FUTURE MATERNITY AND NEWBORN NURSING SERVICES. | $5,000 |