Wellington Management Foundation
- Assets
- $61.3m
- Revenue
- $15.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Boston, MA
- Founding
- 08/1992
- Data as of
- 12/2021
- EIN
- 04-6700836
Organization Overview
Wellington Management Foundation is located in Boston, MA. The organization was established in 1992. According to its NTEE Classification (T70) the organization is classified as: Federated Giving Programs, 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. Wellington Management 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, Wellington Management Foundation generated $15.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.9% each year . All expenses for the organization totaled $12.8m during the year ending 12/2021. While expenses have increased by 20.9% 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 2014, Wellington Management Foundation has awarded 546 individual grants totaling $41,250,500. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS TO CHARITABLE ORGANIZATIONS - IN 2021 THE FOUNDATION FUNDED 98 DOMESTIC ORGANIZATIONS AND 16 FOREIGN ORGANIZATIONS WITH GRANTS RANGING IN SIZE FROM $1,000 TO $1,315,000. WELLINGTON MANAGEMENT COMPANY LLP (WMC) PAYS THE OPERATING EXPENSES OF THE FOUNDATION AND PROVIDES OFFICE SPACE, INVESTMENT ADVISORY SERVICES AND ADMINISTRATIVE SUPPORT, VALUED AT $286,112, AT NO CHARGE TO THE FOUNDATION. DURING 2021, WMC PAID FOUNDATION EXPENSES THAT TOTALED $122,511.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,176,095 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,255,807 |
| Noncash contributions included in lines 1a–1f | $8,942 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,431,902 |
| Total Program Service Revenue | $0 |
| Investment income | $887,895 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,859,762 |
| Net Income from Fundraising Events | -$30,455 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,149,104 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,076,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $2,293,342 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $222,892 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $22,531 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $73,750 |
| Advertising and promotion | $0 |
| Office expenses | $763 |
| Information technology | $84,951 |
| Royalties | $0 |
| Occupancy | $32,994 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $12,840,554 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $7,836,740 |
| Pledges and grants receivable | $915,098 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $55,000 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $52,453,976 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $61,260,814 |
| Accounts payable and accrued expenses | $12,474 |
| Grants payable | $5,452,800 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $58,000 |
| Total liabilities | $5,523,274 |
| Net assets without donor restrictions | $55,696,572 |
| Net assets with donor restrictions | $40,968 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $61,260,814 |
Grants Awarded
Over the last fiscal year, Wellington Management Foundation has awarded $10,075,000 in support to 97 organizations.
| Grant Recipient | Amount |
|---|---|
Boston, MA PURPOSE: SEE PART IV | $1,000,000 |
Boston, MA PURPOSE: See Part IV | $400,000 |
Boston, MA PURPOSE: See Part IV | $365,000 |
Chicago, IL PURPOSE: See Part IV | $365,000 |
New York, NY PURPOSE: See Part IV | $365,000 |
Philadelphia, PA PURPOSE: See Part IV | $350,000 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that Wellington Management Foundation has recieved totaling $411,750.
| Awarding Organization | Amount |
|---|---|
Once Here Foundation Cambridge, MA PURPOSE: CHARITABLE | $125,000 |
The Owens Family Foundation Norwell, MA PURPOSE: UNRESTRICTED CONTRIBUTION | $100,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $70,000 |
Pannell Family Foundation Boston, MA PURPOSE: CHARITABLE | $25,000 |
Doran Family Foundation Boston, MA PURPOSE: GENERAL OPERATING PURPOSE | $25,000 |
Rands Foundation Westwood, MA PURPOSE: GENERAL OPERATING SUPPORT | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
United Way Of Greater Rochester And The Finger Lakes Inc Rochester, NY | $189,540,443 | $45,112,374 |
United Way Of Connecticut Rocky Hill, CT | $9,253,569 | $38,307,240 |
Foundation For Jewish Philanthropies Getzville, NY | $249,898,212 | $25,804,353 |
United Way Of Rhode Island Inc Providence, RI | $29,334,248 | $23,014,896 |
Syracuse Community Health Center Inc Syracuse, NY | $18,630,162 | $24,795,455 |
Lighthouse Guild International Inc New York, NY | $511,507,297 | $10,629,551 |
North Star Fund Inc New York, NY | $26,831,975 | $32,265,698 |
Granite United Way Manchester, NH | $10,904,464 | $19,030,593 |
United Way Of Buffalo And Erie County Buffalo, NY | $31,555,637 | $14,020,396 |
United Way Of Long Island Deer Park, NY | $13,444,061 | $14,770,315 |
Wellington Management Foundation Boston, MA | $61,260,814 | $15,149,104 |
Keren Hayeshivot Trust Brooklyn, NY | $1,238,192 | $11,653,329 |