Tugg Corp
- Assets
- $90.0k
- Revenue
- $272.6k
- Investments
- $0.0
- Employees
- 1
- Location
- Boston, MA
- Founding
- 12/2009
- Data as of
- 12/2021
- EIN
- 27-0960868
Organization Overview
Tugg Corp is located in Boston, MA. The organization was established in 2009. According to its NTEE Classification (T30) the organization is classified as: Public 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. Tugg Corp 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, Tugg Corp generated $272.6k 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 (8.3%) each year. All expenses for the organization totaled $208.1k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (12.1%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Tugg Corp has awarded 61 individual grants totaling $1,396,405. 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
FUNDING SOCIAL INNOVATION THAT SUPPORTS ENTREPRENEURSHIP, EDUCATION AND LIFE EXPERIENCE FOR YOUNG PEOPLE IN NEW ENGLAND.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DUE TO A RELATIONSHIP THAT WAS FOSTERED BY TUGG, TUGG PORTFOLIO NONPROFIT SITTERS WITHOUT BORDERS SUCCESSFULLY REBRANDED TO SITTERS FOR SCHOLARS. TUGG CATALYZED THE PARTNERSHIP WITH AN INITIAL LUNCH N' LEARN AT PIXABILITY, AND THEN WORKED WITH TEAM LEADERS TO SET UP A PROJECT OVERVIEW, DELIVERABLES, AND TIMELINE. THE PROJECT CAME IN ON TIME AT ROUGHLY 4 MONTHS, AND SITTERS FOR SCHOLARS WAS (RE)BORN. IT WAS OUR LAST LARGE SCALE, AND MOST SUCCESSFUL, NONPROFIT ENGAGEMENT TO DATE.TUGG PIVOTED TO A NEW PILOT INITIATIVE, CODENAMED TINT (THIS IS NOT TUGG) IN EARLY 2021. THE PROGRAM IS DESIGNED TO OFFER EMPOWERMENT GRANTS TO REMARKABLE INDIVIDUALS IN BOSTON. WE WORKED WITH OUR MOST TRUSTED NONPROFIT LEADERS TO COMMUNICATE AND DRIVE TALENT TOWARDS OUR CANDIDATE POOL, AND HAVE LAUNCHED TWO PILOT COHORTS. TO DATE, WE'VE SEEN SUCCESS IN HELPING CHANGE THE LIVES OF SEVERAL LOW-INCOME BOSTONIANS.TUGG MADE SEVERAL STRATEGIC CONNECTIONS FOR OUR NONPROFIT PORTFOLIO THIS YEAR. THESE CONNECTIONS INCLUDE (BUT ARE NOT LIMITED TO): CONNECTING BUILD & ONE BEAD TO A SUFFOLK UNIVERSITY PROFESSOR LOOKING FOR BENEFICIARIES FOR HIS GRADUATE CLASS, CREATING 150+ STEM KITS FOR MBADIKA, OVER $100K IN SPONSORSHIPS FOR SCIENCE CLUB FOR GIRLS, DONATIONS FOR DREAM BIG, Y2Y, AND MEDIAGIRLS, AND 25+ LAPTOPS & MONITORS PUT INTO THE HANDS OF AT-RISK STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Cole Executive Director | Officer | 40 | $119,327 |
Sarah Downey Secretary | OfficerTrustee | 2 | $0 |
Jeff Fagnan President | OfficerTrustee | 10 | $0 |
Zoe Anetakis Treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $115,000 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $157,626 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $272,626 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $272,626 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $38,292 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $116,934 |
| Compensation of current officers, directors, key employees. | $40,927 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $25,946 |
| Payroll taxes | $9,709 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,088 |
| Advertising and promotion | $0 |
| Office expenses | $177 |
| Information technology | $1,486 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,763 |
| All other expenses | $0 |
| Total functional expenses | $208,078 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $88,931 |
| Savings and temporary cash investments | $0 |
| 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 | $1,066 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $89,997 |
| Accounts payable and accrued expenses | $3,568 |
| 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 | $3,568 |
| Net assets without donor restrictions | $86,429 |
| 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 | $89,997 |
Grants Awarded
Over the last fiscal year, Tugg Corp has awarded $121,500 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
Cambridge, MA PURPOSE: YOUTH INNOVATION GRANT | $65,000 |
Hudson, OH PURPOSE: YOUTH INNOVATION GRANT | $15,000 |
MBADIKA PURPOSE: YOUTH INNOVATION GRANT | $15,000 |
Brockton, MA PURPOSE: YOUTH INNOVATION GRANT | $15,000 |
New York, NY PURPOSE: GENERAL SUPPORT GRANT | $11,500 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Tugg Corp has recieved totaling $30,500.
| Awarding Organization | Amount |
|---|---|
Fidelity Investments Charitable Gift Fund Boston, MA PURPOSE: For grant recipient's exempt purposes | $15,500 |
Boston Foundation Inc Boston, MA PURPOSE: Operating Support/Annual Fund | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bny Mellon Charitable Gift Fund Boston, MA | $342,614,894 | $208,280,795 |
Keren Keshet-The Rainbow Foundation New York, NY | $212,134,789 | $28,921,665 |
Roswell Park Alliance Foundation Buffalo, NY | $159,422,911 | $37,424,046 |
World Of Giving Inc Spring Valley, NY | $6,086,190 | $25,054,815 |
Chapel & York Us Foundation Inc New York, NY | $7,715,489 | $28,773,311 |
Give Lively Foundation Inc New York, NY | $21,044,109 | $22,415,300 |
Greater Hartford Community Foundation Inc Hartford, CT | $8,414,279 | $22,150,705 |
Harlem Rbi Incorporated New York, NY | $85,587,058 | $22,268,250 |
Partnership Schools New York, NY | $64,379,139 | $24,282,663 |
Royal College Of Art Usa Inc New York, NY | $1,933,182 | $14,916,047 |
Imago Dei Fund Boston, MA | $57,020,766 | $29,637,241 |
Boston Charitable Trust Fund Boston, MA | $1,173,216 | $4,494,143 |