Hopedale Foundation
- Assets
- $11.8m
- Revenue
- $668.6k
- Investments
- $10.6m
- Employees
- 0
- Location
- Hopedale, MA
- Founding
- 05/1949
- Data as of
- 10/2022
- EIN
- 04-6044779
Organization Overview
Hopedale Foundation is located in Hopedale, MA. The organization was established in 1949. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Hopedale 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 10/2022, Hopedale Foundation generated $668.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $661.6k during the year ending 10/2022. While expenses have increased by 1.4% per year over the past 7 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 2015, Hopedale Foundation has awarded 217 individual grants totaling $5,243,013. 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
GRANTS TO RELIGIOUS, CHARITABLE, SCIENTIFIC, LITERARY OR EDUCATIONAL ORGANIZATIONS
LOANS TO COLLEGE STUDENTS WHO GRADUATED FROM HOPEDALE HIGH SCHOOL
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter S Ellis Chairman/trustee | 0.5 | $0 | |
W Gregory Burrill Vice Chairman/trustee | 0.5 | $0 | |
Alfred H Sparling Jr Trustee | 0.5 | $0 | |
Vincent J Arone Sr Trustee Emeritus | 0.5 | $0 | |
Vicent J Arone Jr Trustee/treasurer | 0.5 | $0 | |
Steven G Ellis Secretary/trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $248 |
| Dividends & Interest | $514,850 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $153,540 |
| Total Revenue | $668,638 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $14,873 |
| Depreciation | $0 |
| Occupancy | $952 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $51,879 |
| Total operating and administrative expenses | $77,804 |
| Contributions, gifts, grants paid | $583,785 |
| Total expenses and disbursements | $661,589 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,661 |
| Savings and temporary cash investments | $262,276 |
| 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 | $985,024 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $10,574,780 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $11,826,741 |
| 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, Hopedale Foundation has awarded $583,785 in support to 27 organizations.
| Grant Recipient | Amount |
|---|---|
Hopedale, MA PURPOSE: GENERAL OPERATIONS | $300,000 |
EDUCATION LOANS GRANTED PURPOSE: STUDENT LOANS | $163,000 |
EMILY HAGAN PURPOSE: SCHOLARSHIP | $10,000 |
SARGE GARVIN PURPOSE: SCHOLARSHIP | $10,000 |
LILLIAN CHAN PURPOSE: SCHOLARSHIP | $10,000 |
CHARLOTTE SHELDRAKE PURPOSE: SCHOLARSHIP | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Druckenmiller Foundation New York, NY | $1,579,806,367 | $402,828,458 |
Rockefeller Brothers Fund Inc New York, NY | $1,654,004,790 | $94,665,303 |
Adelson Family Foundation Needham, MA | $5,626,414 | $49,822,227 |
Anna Maria And Stephen Kellen Foundation Inc New York, NY | $1,287,407,560 | $57,361,611 |
The Wallace Foundation New York, NY | $1,815,949,042 | $114,535,478 |
Stephen A Schwarzman Foundation New York, NY | $124,156,635 | $61,557,254 |
Pepsico Foundation Inc Purchase, NY | $25,033,678 | $1,734,936 |
Foundation Mireille And James Levy Usa New York, NY | $36,878,233 | $277,701 |
The Bat Hanadiv Foundation No 3 New York, NY | $1,717,297,999 | $245,079,951 |
Big East Conference Inc New York, NY | $25,429,264 | $59,716,596 |
Bristol-Myers Squibb Foundation Inc New York, NY | $146,629,708 | $46,784 |
Cohen Veterans Network Inc Stamford, CT | $21,771,420 | $47,396,071 |