Mary Alice Arakelian Foundation
- Assets
- $6.5m
- Revenue
- $542.5k
- Investments
- $6.0m
- Employees
- 0
- Location
- Newburyport, MA
- Founding
- 10/1967
- Data as of
- 12/2021
- EIN
- 04-6155695
Organization Overview
Mary Alice Arakelian Foundation is located in Newburyport, MA. The organization was established in 1967. 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. Mary Alice Arakelian 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 12/2021, Mary Alice Arakelian Foundation generated $542.5k 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 (17.0%) each year. All expenses for the organization totaled $556.6k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Mary Alice Arakelian Foundation has awarded 97 individual grants totaling $1,944,345. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHARITABLE CONTRIBUTIONS MADE TO 10 NON-PROFIT ORGANIZATIONS
SCHOLARSHIPS PAID DIRECTLY TO 5 UNIVERSITIES ON BEHALF OF 5 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark F Welch Co-Trustee | 1 | $18,000 | |
Mary E Larnard Co-Trustee | 1 | $12,000 | |
Kimberly A Rock Co-Trustee | 1 | $0 | |
John F Leary III Co-Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $161,672 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $380,845 |
| Capital Gain Net Income | $380,845 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $542,517 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $30,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $12,906 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $8,200 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,075 |
| Total operating and administrative expenses | $103,471 |
| Contributions, gifts, grants paid | $453,111 |
| Total expenses and disbursements | $556,582 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $33,548 |
| Savings and temporary cash investments | $306,370 |
| 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 | $978,149 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $179,554 |
| Total assets | $6,535,484 |
| 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, Mary Alice Arakelian Foundation has awarded $453,111 in support to 25 organizations.
| Grant Recipient | Amount |
|---|---|
Newburyport, MA PURPOSE: UNRESTRICTEDGENERAL SUPPORT | $70,000 |
Amesbury, MA PURPOSE: UNRESTRICTEDGENERAL SUPPORT | $50,000 |
PETTENGILL HOUSE PURPOSE: UNRESTRICTEDGENERAL SUPPORT | $30,000 |
Boston, MA PURPOSE: UNRESTRICTEDGENERAL SUPPORT | $30,000 |
FIREHOUSE CENTER FOR ARTS PURPOSE: UNRESTRICTEDGENERAL SUPPORT | $30,000 |
Newburyport, MA PURPOSE: UNRESTRICTEDGENERAL SUPPORT | $25,000 |
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 |