Solidago Foundation
- Assets
- $1.7m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 4
- Location
- Northampton, MA
- Founding
- 07/2005
- Data as of
- 12/2021
- EIN
- 20-2963670
Organization Overview
Solidago Foundation is located in Northampton, MA. The organization was established in 2005. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Solidago Foundation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Solidago 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, Solidago Foundation generated $2.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (12.8%) each year. All expenses for the organization totaled $1.4m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (16.9%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Solidago Foundation has awarded 451 individual grants totaling $19,550,254. 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
THE ORGANIZATION'S MISSION IS TO PROMOTE JUSTICE, EQUITY, SUSTAINABILITY AND ENFRANCHISEMENT FOR ALL THROUGH CHARITABLE GRANT-MAKING TO AND WORK WITH PROGRESSIVE, EMPOWERING COMMUNITY-BASED ORGANIZATIONS AND COLLABORATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PRIMARILY MAKES GRANTS TO OTHER PUBLIC CHARITIES THAT WORK IN OR FOR THE BENEFIT OF POOR COMMUNITIES SEEKING TO ALLEVIATE POVERTY AND DISENFRANCHISEMENT, PROVIDE & PROMOTE SUSTAINABLE JOBS, AND PROTECT THE ENVIRONMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maggie Russell-Ciardi Managing Director | 35.6 | $121,943 | |
Linda Stout Director/president | OfficerTrustee | 5.4 | $27,953 |
Isabelle M Leighton Treasurer/secretary | OfficerTrustee | 0.5 | $2,000 |
John Vaughn Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Build Commonwealth Consulting | 12/30/18 | $126,542 |
Management Assistance Groupinc Consulting | 12/30/18 | $119,242 |
Kimberly Gartner Group Llc Consulting | 12/30/18 | $103,797 |
Behavioral Ideas Lab Inc Consulting | 12/30/18 | $107,262 |
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 | $2,064,815 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,064,815 |
| Total Program Service Revenue | $0 |
| Investment income | $5,765 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,187,279 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $650,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $17,158 |
| Compensation of current officers, directors, key employees. | $5,218 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $390,187 |
| Pension plan accruals and contributions | $22,142 |
| Other employee benefits | $78,440 |
| Payroll taxes | $36,264 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,419 |
| Fees for services: Accounting | $28,864 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $264 |
| Fees for services: Other | $3,771 |
| Advertising and promotion | $0 |
| Office expenses | $24,078 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $64,879 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,572 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $29,043 |
| Insurance | $5,333 |
| All other expenses | $0 |
| Total functional expenses | $1,430,669 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $200 |
| Savings and temporary cash investments | $1,373,761 |
| Pledges and grants receivable | $71,055 |
| Accounts receivable, net | $26,827 |
| 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 | $19,128 |
| Net Land, buildings, and equipment | $45,832 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $200,000 |
| Intangible assets | $0 |
| Other assets | $8,831 |
| Total assets | $1,745,634 |
| Accounts payable and accrued expenses | $52,472 |
| Grants payable | $40,000 |
| 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 | $92,472 |
| Net assets without donor restrictions | $1,653,162 |
| 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 | $1,745,634 |
Grants Awarded
Over the last fiscal year, Solidago Foundation has awarded $650,000 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
Northampton, MA PURPOSE: PROGRAMMATIC SUPPORT | $150,000 |
Milwaukee, WI PURPOSE: PROGRAMMATIC SUPPORT | $50,000 |
Raleigh, NC PURPOSE: PROGRAMMATIC SUPPORT | $50,000 |
ARIZONA CENTER FOR EMPOWERMENT (ACE) PURPOSE: PROGRAMMATIC SUPPORT | $50,000 |
Greensboro, NC PURPOSE: PROGRAMMATIC SUPPORT | $50,000 |
Durham, NC PURPOSE: PROGRAMMATIC SUPPORT | $50,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Solidago Foundation has recieved totaling $1,984,760.
| Awarding Organization | Amount |
|---|---|
Frances Fund Inc Northampton, MA PURPOSE: PROGRAMMATIC SUPPORT | $1,928,945 |
Impactassets Inc Bethesda, MD PURPOSE: GENERAL SUPPORT | $55,815 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Economic Opportunity Council Of Suffolk Inc Patchogue, NY | $6,210,341 | $18,971,000 |
Integrated Community Alternatives Network Inc Utica, NY | $14,279,832 | $19,265,883 |
Northern Manhattan Improvement Corp New York, NY | $8,451,430 | $18,004,122 |
Veterans Inc Worcester, MA | $18,236,837 | $18,440,204 |
Chautauqua Opportunities Inc Dunkirk, NY | $6,065,142 | $15,802,051 |
Commission On Economic Opportunity For The Rensselaer County Area Inc Troy, NY | $18,234,515 | $14,616,169 |
Phipps Neighborhoods Inc New York, NY | $46,342,034 | $30,198,997 |
Delaware Opportunities Inc Hamden, NY | $6,012,612 | $14,102,184 |
Painters District Council No 4 S U B Fund Cheektowaga, NY | $33,742,384 | $15,066,465 |
Community Action Agency Of New Haven Inc New Haven, CT | $523,093 | $14,060,753 |
Economic Opportunity Commission Of Nassau County Inc Hempstead, NY | $10,306,992 | $13,197,438 |
Cypress Hills Local Development Corporation Inc Brooklyn, NY | $20,394,898 | $16,091,549 |