Wellington Management Foundation
- Assets
- $46.9m
- Revenue
- $5.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Boston, MA
- Founding
- 08/1992
- Data as of
- 12/2022
- 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 12/2022, Wellington Management Foundation generated $5.6m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.1%) each year. All expenses for the organization totaled $13.1m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Wellington Management Foundation has awarded 639 individual grants totaling $51,540,500. 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
2022
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 2022 THE FOUNDATION FUNDED 92 DOMESTIC ORGANIZATIONS AND 16 FOREIGN ORGANIZATIONS WITH GRANTS RANGING IN SIZE FROM $10,000 TO $1,425,000. WELLINGTON MANAGEMENT COMPANY LLP (WMC) PAYS THE OPERATING EXPENSES OF THE FOUNDATION AND PROVIDES OFFICE SPACE, INVESTMENT ADVISORY SERVICES AND ADMINISTRATIVE SUPPORT, VALUED AT $270,712, AT NO CHARGE TO THE FOUNDATION. DURING 2022, WMC PAID FOUNDATION EXPENSES THAT TOTALED $129,543.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,076,162 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,076,162 |
| Total Program Service Revenue | $0 |
| Investment income | $894,009 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $616,286 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,586,457 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,290,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $2,405,000 |
| 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 | $212,024 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $25,034 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $79,746 |
| Advertising and promotion | $0 |
| Office expenses | $1,611 |
| Information technology | $55,680 |
| Royalties | $0 |
| Occupancy | $29,530 |
| 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 | $13,103,637 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $5,165,532 |
| Pledges and grants receivable | $176,277 |
| 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 | $41,480,395 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $46,877,204 |
| Accounts payable and accrued expenses | $16,423 |
| Grants payable | $7,813,509 |
| 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 | $7,887,932 |
| Net assets without donor restrictions | $38,947,446 |
| Net assets with donor restrictions | $41,826 |
| 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 | $46,877,204 |
Grants Awarded
Over the last fiscal year, Wellington Management Foundation has awarded $10,290,000 in support to 93 organizations.
| Grant Recipient | Amount |
|---|---|
NEIGHBORHOOD VILLAGES INC PURPOSE: SEE PART IV | $700,000 |
SPORTSMENS TENNIS & ENRICHMENT CENTER PURPOSE: SEE PART IV | $370,000 |
BREAKTHROUGH GREATER BOSTON PURPOSE: SEE PART IV | $300,000 |
YOUTH GUIDANCE PURPOSE: SEE PART IV | $370,000 |
YEAR UP PURPOSE: SEE PART IV | $800,000 |
FRIENDS OF THE CHILDREN - BOSTON INC PURPOSE: SEE PART IV | $300,000 |