Garfield Foundation
- Assets
- $28.1m
- Revenue
- $3.3m
- Investments
- $25.1m
- Employees
- 0
- Location
- Marion, MA
- Founding
- 12/1980
- Data as of
- 12/2023
- EIN
- 22-2285358
Organization Overview
Garfield Foundation is located in Marion, MA. The organization was established in 1980. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Garfield 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 12/2023, Garfield Foundation generated $3.3m 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 (3.2%) each year. All expenses for the organization totaled $1.6m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (13.0%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Garfield Foundation has awarded 388 individual grants totaling $16,175,079. 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
FUNDS RECEIVED ARE USED TO PAY ADMINISTRATION EXPENSES, AND THE BALANCE IS DISTRIBUTED TO QUALIFIED CHARITABLE ORGANIZATIONS UNDER THE INTERNAL RENVENUE CODE.THE ORGANIZATION'S PRIMARY ACITIVITY IS TO SUPPORT BY CONTRIBUTIONS, OTHER ORGANIZATIONS QUALIFYING FOR EXEMPTION UNDER 501(C)(3) OF THE INTERNAL REVENUW CODE. THE TRUSTEES CHOOSE THESE ORGANIZATIONS BASED UPON THEIR KNOWLEDGE OF THE ORGANIZATIOS' ACTIVITIES. NO CONTRIBUTIONS, GRANTS, GIFTS,LOANS ETC. ARE MADE TO INDIVIDUALS.
COLLABORATIVE NETWORK PROJECT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dianne Martinez Trustee (end 1/23); Secretary | 40 | $286,950 | |
Hwei Sen Tan Treasurer | 20 | $91,500 | |
David Grossblat Trustee | 20 | $75,000 | |
Jeremiah Marquez Trustee/president | 1 | $10,000 | |
Bina Garfield Trustee/vice President | 1 | $10,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Baldwin Brothers | 12/30/23 | $124,988 |
Rbc Wealth Management | 12/30/23 | $60,921 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $369,336 |
| Dividends & Interest | $217,614 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,680,026 |
| Capital Gain Net Income | $2,419,256 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$12,673 |
| Total Revenue | $3,254,303 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $551,171 |
| Other employee salaries and wages | $44,340 |
| Pension plans, employee benefits | $111,531 |
| Interest | $0 |
| Taxes | $90,732 |
| Depreciation | $0 |
| Occupancy | $74,923 |
| Travel, conferences, and meetings | $54,894 |
| Printing and publications | $189 |
| Other expenses | $33,361 |
| Total operating and administrative expenses | $1,256,559 |
| Contributions, gifts, grants paid | $342,010 |
| Total expenses and disbursements | $1,598,569 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $86,096 |
| Savings and temporary cash investments | $2,836,286 |
| 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 | $5,295,000 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $90,756 |
| Total assets | $28,086,540 |
| Accounts payable and accrued expenses | $75,942 |
| 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 | $31,190 |
| Total liabilities | $107,132 |
Grants Awarded
Over the last fiscal year, Garfield Foundation has awarded $342,010 in support to 20 organizations.
| Grant Recipient | Amount |
|---|---|
ACLU FOUNDATION OF SOUTHERN CALIFORNIA PURPOSE: GENERAL PURPOSE | $5,000 |
ANTI-DEFAMATION LEAGUE OF LOS ANGELES PURPOSE: GENERAL PURPOSE | $3,500 |
CANCER SUPPORT COMMUNITY GREATER SAN GABRIEL VALLEY PURPOSE: GENERAL PURPOSE | $3,500 |
COMMUNITY PARTNERS PURPOSE: GENERAL PURPOSE | $10,000 |
DR SUSAN LOVE FOUNDATION FOR BREAST CANCER RESEARCH PURPOSE: GENERAL PURPOSE | $5,000 |
COMPUTER & TECHNOLOGY RESOURCE CENTER PURPOSE: GENERAL PURPOSE; DONATION OF USED COMPUTER EQUIPMENT | $2,467 |