Stearns Charitable Trust
- Assets
- $7.8m
- Revenue
- $239.3k
- Investments
- $7.6m
- Employees
- 0
- Location
- Boston, MA
- Founding
- 03/1951
- Data as of
- 12/2023
- EIN
- 04-6036697
Organization Overview
Stearns Charitable Trust is located in Boston, MA. The organization was established in 1951. 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. Stearns Charitable Trust 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, Stearns Charitable Trust generated $239.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.1%) each year. All expenses for the organization totaled $481.9k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Stearns Charitable Trust has awarded 353 individual grants totaling $2,574,331. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James A Gassel Trustee | 1 | $0 | |
Kimberly B Soule Trustee | 1 | $0 | |
Sarah J Lodge Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $15,387 |
| Dividends & Interest | $131,676 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $92,280 |
| Capital Gain Net Income | $92,280 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $239,343 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $70 |
| Total operating and administrative expenses | $72,611 |
| Contributions, gifts, grants paid | $409,331 |
| Total expenses and disbursements | $481,942 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,387 |
| Savings and temporary cash investments | $193,590 |
| 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 | $7,091,121 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $7,836,579 |
| 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, Stearns Charitable Trust has awarded $409,331 in support to 43 organizations.
| Grant Recipient | Amount |
|---|---|
BERKSHIRE MUSIC SCHOOL INC PURPOSE: PROGRAM SUPPORT | $5,000 |
BRAIN HEALTH BOOTCAMP INC PURPOSE: PROGRAM SUPPORT | $5,000 |
BRIC ARTS MEDIA BKLYN INC (DBA BRIC) PURPOSE: PROGRAM SUPPORT | $20,000 |
CITY GROWERS PURPOSE: PROGRAM SUPPORT | $2,000 |
COMPASS FAMILY SERVICES PURPOSE: PROGRAM SUPPORT | $15,000 |
CONSERVATION LAW FOUNDATION PURPOSE: PROGRAM SUPPORT | $3,500 |