Mary Alice Arakelian Foundation
- Assets
- $6.2m
- Revenue
- $129.9k
- Investments
- $5.7m
- Employees
- 0
- Location
- Newburyport, MA
- Founding
- 10/1967
- Data as of
- 12/2022
- 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 12/2022, Mary Alice Arakelian Foundation generated $129.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (32.5%) each year. All expenses for the organization totaled $498.3k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Mary Alice Arakelian Foundation has awarded 136 individual grants totaling $2,648,832. 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
CHARITABLE CONTRIBUTIONS MADE TO NON-PROFIT ORGANIZATIONS
SCHOLARSHIPS PAID DIRECTLY TO UNIVERSITIES ON BEHALF OF STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark F Welch Co-Trustee | 1 | $18,000 | |
Kimberly A Rock Co-Trustee | 1 | $0 | |
Mary E Larnard Co-Trustee | 1 | $12,000 | |
John F Leary III Co-Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $173,066 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$43,134 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $129,932 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $30,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $7,902 |
| Taxes | $11,876 |
| Depreciation | $0 |
| Occupancy | $8,370 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,556 |
| Total operating and administrative expenses | $108,813 |
| Contributions, gifts, grants paid | $389,487 |
| Total expenses and disbursements | $498,300 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $310,866 |
| 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 | $939,156 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $178,244 |
| Total assets | $6,167,116 |
| 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 $389,487 in support to 21 organizations.
| Grant Recipient | Amount |
|---|---|
TRUSTEES OF BOSTON UNIVERSITY PURPOSE: UNRESTRICTEDGENERAL SUPPORT | $30,000 |
PETTENGILL HOUSE PURPOSE: UNRESTRICTEDGENERAL SUPPORT | $30,000 |
OUR NEIGHBOR'S TABLE PURPOSE: UNRESTRICTEDGENERAL SUPPORT | $50,000 |
ANNA JAQUES HOSPITAL PURPOSE: UNRESTRICTEDGENERAL SUPPORT | $65,000 |
PAN-MASS CHALLENGE PURPOSE: UNRESTRICTEDGENERAL SUPPORT | $10,000 |
JEANNE GEIGER CRISIS CENTER PURPOSE: UNRESTRICTEDGENERAL SUPPORT | $16,000 |