New Balance Foundation
- Assets
- $180.4m
- Revenue
- $38.5m
- Investments
- $130.1m
- Employees
- 0
- Location
- Boston, MA
- Founding
- 00/0000
- Data as of
- 11/2023
- EIN
- 04-6470644
Organization Overview
New Balance Foundation is located in Boston, MA. The organization was established in 0000. 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.
For the year ending 11/2023, New Balance Foundation generated $38.5m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 41.3% each year . All expenses for the organization totaled $10.6m during the year ending 11/2023. While expenses have increased by 6.4% per year over the past 4 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 2021, New Balance Foundation has awarded 287 individual grants totaling $35,018,789. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anne M Davis Trustee | 3 | $0 | |
James S Davis Trustee | 0.25 | $0 | |
Paul G Gauron Trustee | 0.25 | $0 | |
Kassia A Davis Trustee | 0.25 | $0 | |
Christopher C Davis Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $33,000,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $4,478,588 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,047,415 |
| Capital Gain Net Income | $1,047,415 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $38,526,003 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $54,157 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $318 |
| Total operating and administrative expenses | $520,495 |
| Contributions, gifts, grants paid | $10,122,363 |
| Total expenses and disbursements | $10,642,858 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $49,543,144 |
| 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 | $3,334,480 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $840,556 |
| Total assets | $180,444,309 |
| 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, New Balance Foundation has awarded $10,122,363 in support to 74 organizations.
| Grant Recipient | Amount |
|---|---|
CYCLESERVICE INC PURPOSE: GENERAL SUPPORT | $500 |
ABOUT FRESH PURPOSE: GENERAL SUPPORTGENERAL SUPPORTGENERAL SUPPORT | $50,000 |
100 MILE CLUB PURPOSE: GENERAL SUPPORT | $175,000 |
ALZHEIMER'S ASSOCIATION PURPOSE: GENERAL SUPPORT | $25,000 |
AMERICAN RED CROSS PURPOSE: GENERAL SUPPORT | $500,000 |
AMERICAN RED CROSS - MASSACHUSETTS PURPOSE: GENERAL SUPPORT | $25,000 |