Newburyport Five Cents Savings Charitable Foundation Inc
- Assets
- $5.3m
- Revenue
- $366.4k
- Investments
- $5.3m
- Employees
- 0
- Location
- Newburyport, MA
- Founding
- 12/2003
- Data as of
- 12/2023
- EIN
- 20-0318941
Organization Overview
Newburyport Five Cents Savings Charitable Foundation Inc is located in Newburyport, MA. The organization was established in 2003. According to its NTEE Classification (T21) the organization is classified as: Corporate 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. Newburyport Five Cents Savings Charitable Foundation Inc 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 12/2023, Newburyport Five Cents Savings Charitable Foundation Inc generated $366.4k 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 (3.2%) each year. All expenses for the organization totaled $685.9k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Newburyport Five Cents Savings Charitable Foundation Inc has awarded 218 individual grants totaling $3,828,474. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lloyd Hamm Jr President | 1 | $0 | |
Timothy L Felter Treasurer | 1 | $0 | |
Elizabeth Blackburn Clerk | 1 | $0 | |
Brian G Harrington Assistant Treasurer | 1 | $0 | |
Stephen Blanchette Director | 1 | $0 | |
Karen Andreas Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $7 |
| Dividends & Interest | $235,077 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $131,342 |
| Capital Gain Net Income | $131,342 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $366,426 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $4,000 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $89 |
| Total operating and administrative expenses | $6,089 |
| Contributions, gifts, grants paid | $679,795 |
| Total expenses and disbursements | $685,884 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $23,275 |
| Savings and temporary cash investments | $0 |
| 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 | $5,263,674 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $5,286,949 |
| 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, Newburyport Five Cents Savings Charitable Foundation Inc has awarded $1,019,795 in support to 61 organizations.
| Grant Recipient | Amount |
|---|---|
ZOO OF NEW ENGLAND PURPOSE: EXEMPT PURTPOSE | $10,000 |
YWCA OF NEWBURYPORT PURPOSE: EXEMPT PURTPOSE | $10,000 |
WHITTIER TECH EDUCATION FOUNDATION INC PURPOSE: EXEMPT PURTPOSE | $1,000 |
WENTWORTH DOUGLASS HOSPITAL PURPOSE: EXEMPT PURTPOSE | $50,000 |
VOUCHERS FOR VETERANS PURPOSE: EXEMPT PURTPOSE | $2,500 |
VETERANS COUNT EASTER SEALS NH PURPOSE: EXEMPT PURTPOSE | $5,000 |