Invest In Others Charitablefoundation Inc
- Assets
- $3.4m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 8
- Location
- Boston, MA
- Founding
- 02/2007
- Data as of
- 12/2023
- EIN
- 20-5036808
Organization Overview
Invest In Others Charitablefoundation Inc is located in Boston, MA. The organization was established in 2007. 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. As of 12/2023, Invest In Others Charitablefoundation Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Invest In Others Charitablefoundation 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, Invest In Others Charitablefoundation Inc generated $2.7m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 14.6% each year . All expenses for the organization totaled $2.3m during the year ending 12/2023. While expenses have increased by 8.9% per year over the past 9 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 2015, Invest In Others Charitablefoundation Inc has awarded 210 individual grants totaling $4,513,545. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO AMPLIFY THE CHARITABLE WORK OF FINANCIAL ADVISORS, EMPLOYEES, AND THEIR FIRMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE INVEST IN OTHERS AWARDS PROGRAM (THE "PROGRAM") RECOGNIZES THE PHILANTHROPIC ACHIEVEMENTS OF FINANCIAL ADVISORS AND FINANCIAL SERVICES FIRMS IN COMMUNITIES ACROSS THE COUNTRY AND AROUND THE WORLD. FINANCIAL ADVISORS ARE NOMINATED FOR FIVE AWARDS. ADVISOR FINALISTS AND WINNERS RECEIVE A DONATION TO THEIR DESIGNATED CHARITIES RANGING FROM $25,000 UP TO $100,000. AWARDS ARE PRESENTED AT THE ANNUAL GALA EACH FALL.INVEST IN OTHERS GRANT PROGRAMS, INCLUDING GRANTS FOR GOOD AND GRANTS FOR CHANGE, PROVIDE AN OPPORTUNITY FOR EMPLOYEES OF THE FINANCIAL SERVICES INDUSTRY TO SECURE FUNDING FOR SPECIFIC PROGRAMS OR PROJECTS ON BEHALF OF NONPROFITS THAT THEY SUPPORT. GRANT AWARDS RANGE FROM $5,000 TO $20,000 AND ARE DISTRIBUTED THROUGHOUT THE YEAR. THE CHARITABLE CHAMPIONS PROGRAM RECOGNIZES FINANCIAL ADVISORY FIRMS THAT GIVE BACK TO THEIR COMMUNITIES BY PROMOTING A CULTURE OF PHILANTHROPY AMONGST THEIR FINANCIAL ADVISORS AND EMPLOYEES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
R Barkley Payne President/exec. Dir. (as Of 2/23) | Officer | 40 | $224,038 |
Jessica Dunham VP Programs & Operations | 40 | $124,982 | |
Megan Mcauley President/exec. Dir. (until 2/23) | OfficerTrustee | 40 | $39,383 |
John Hyland Chair | OfficerTrustee | 5 | $0 |
Jeff Vivacqua Vice Chair | OfficerTrustee | 5 | $0 |
Mark Goldberg Treasurer (as Of 3/23) | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $151,360 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,529,203 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,680,563 |
| Total Program Service Revenue | $0 |
| Investment income | $64,295 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$4,758 |
| Net Income from Fundraising Events | -$22,326 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,717,774 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,046,313 |
| 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. | $303,319 |
| Compensation of current officers, directors, key employees. | $12,133 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $330,455 |
| Pension plan accruals and contributions | $17,227 |
| Other employee benefits | $11,732 |
| Payroll taxes | $46,556 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $37,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $15,238 |
| Fees for services: Other | $152,433 |
| Advertising and promotion | $3,517 |
| Office expenses | $29,343 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,554 |
| Travel | $21,621 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $318,750 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $899 |
| Insurance | $3,769 |
| All other expenses | $0 |
| Total functional expenses | $2,341,476 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $455,598 |
| Savings and temporary cash investments | $96,793 |
| Pledges and grants receivable | $406,075 |
| 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 | $109,529 |
| Net Land, buildings, and equipment | $975 |
| Investments—publicly traded securities | $2,324,599 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,393,569 |
| Accounts payable and accrued expenses | $44,284 |
| 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 | $44,284 |
| Net assets without donor restrictions | $2,833,210 |
| Net assets with donor restrictions | $516,075 |
| 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 | $3,393,569 |
Grants Awarded
Over the last fiscal year, Invest In Others Charitablefoundation Inc has awarded $890,355 in support to 32 organizations.
| Grant Recipient | Amount |
|---|---|
A BRIGHTER DAY PURPOSE: AWARD HONOREE | $25,000 |
3 TO 1 FOUNDATION PURPOSE: GIVE, SAVE, SPEND | $5,500 |
AMERICAN INDIA FOUNDATION PURPOSE: AWARD HONOREE | $25,000 |
CANOPY CENTER INC PURPOSE: REMOVING BARRIERS TO ACCESS SERVICES | $16,000 |
CHALLENGE PROGRAM PURPOSE: THE CHALLENGE PROGRAM TRAINEE DIRECT BENEFIT SUPPORT | $18,000 |
COMMUNITY IN CRISIS INC PURPOSE: HOLISTIC NATURAL RECOVERY AT THE HUB | $18,855 |