Massachusetts Soldiers Legacy Fund
- Assets
- $3.2m
- Revenue
- $114.3k
- Investments
- $0.0
- Employees
- 1
- Location
- Marlborough, MA
- Founding
- 02/2005
- Data as of
- 12/2023
- EIN
- 20-1909556
Organization Overview
Massachusetts Soldiers Legacy Fund is located in Marlborough, MA. The organization was established in 2005. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Massachusetts Soldiers Legacy Fund 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, Massachusetts Soldiers Legacy Fund generated $114.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (12.4%) each year. All expenses for the organization totaled $491.9k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE EDUCATIONAL ASSISTANCE GRANTS TO THE CHILDREN OF MASSACHUSETTS SERVICE MEMBERS WHO HAVE DIED IN THE WAR AGAINST TERRORISM WHILE DEPLOYED ON OPERATIONS ENDURING FREEDOM AND IRAQI FREEDOM, OR IN OTHER, FUTURE THEATERS OF OPERATION, AND MASSACHUSETTS EMPLOYEES OF THE CIA WHO HAVE DIED IN SUCH CONFLICTS OR THEATERS OF OPERATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SINCE EARLY 2004, THERE HAVE BEEN OVER 200 DEATHS OF SERVICE MEMBERS WHOSE HOME OF RECORD AT THE DEPARTMENT OF DEFENSE WAS MASSACHUSETTS. TO DATE, THERE HAVE BEEN 54 FAMILIES AND 89 CHILDREN WHO HAVE LOST A PARENT WHOSE HOME OF RECORD WAS MASSACHUSETTS. THESE CHILDREN ARE ELIGIBLE TO RECEIVE EDUCATIONAL GRANTS FROM THE MSLF. CURRENTLY, THESE CHILDREN'S AGES RANGE FROM 3 TO 35 YEARS OF AGE. THE MSLF DISTRIBUTES GRANTS TO ELIGIBLE CHILDREN FOR HIGHER EDUCATION, EDUCATIONAL AND VOCATIONAL PROGRAMS, PRE AND POST-SECONDARY EDUCATION. IN 2023, THE MSLF DISTRIBUTED A TOTAL OF $361,333 IN GRANTS FOR THE BENEFIT OF THESE CHILDREN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert T Hale Jr Trustee | Trustee | 1 | $0 |
Glenn Mangurian Trustee | Trustee | 1 | $0 |
Eric Kapitulik Trustee | Trustee | 1 | $0 |
Peter G Trovato Trustee | Trustee | 1 | $0 |
Thomas Jennings Trustee | Trustee | 1 | $0 |
Timothy Pinch Trustee | Trustee | 1 | $0 |
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 | $30,322 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $30,322 |
| Total Program Service Revenue | $0 |
| Investment income | $29,799 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $54,191 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $114,312 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $316,034 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $102,485 |
| Compensation of current officers, directors, key employees. | $10,249 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,810 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $29,176 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,573 |
| Advertising and promotion | $11,938 |
| Office expenses | $3,675 |
| Information technology | $159 |
| Royalties | $0 |
| Occupancy | $13,738 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,450 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,899 |
| All other expenses | $0 |
| Total functional expenses | $491,937 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $60,249 |
| Savings and temporary cash investments | $76,408 |
| Pledges and grants receivable | $0 |
| 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 | $1,235 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,023,370 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,161,262 |
| Accounts payable and accrued expenses | $27,389 |
| Grants payable | $0 |
| 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 | $0 |
| Total liabilities | $27,389 |
| Net assets without donor restrictions | $3,133,873 |
| Net assets with donor restrictions | $0 |
| 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 | $3,161,262 |