The East Boston Foundation
- Assets
- $1.6m
- Revenue
- $689.8k
- Investments
- $0.0
- Employees
- 1
- Location
- East Boston, MA
- Founding
- 07/1998
- Data as of
- 12/2021
- EIN
- 31-1601979
Organization Overview
The East Boston Foundation is located in East Boston, MA. The organization was established in 1998. 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. East Boston 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, East Boston Foundation generated $689.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $781.2k during the year ending 12/2021. While expenses have increased by 9.6% per year over the past 7 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, East Boston Foundation has awarded 140 individual grants totaling $2,745,667. 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
EAST BOSTON FOUNDATION IS A NON-PROFIT ORGANIZATION THAT PROVIDES GRANTS FOR CHILD CARE AND EARLY EDUCATION, ELEMENTARY EDUCATION, SECONDARY & HIGH SCHOOL EDUCATION, SUMMER & AFTER SCHOOL PROGRAMS, SENIOR CITIZEN & ADULT EDUCATION & RECREATION, ESL INSTRUCTION, COMMUNITY & CULTURAL EVENTS, SPORTS & RECREATION PROGRAMS, BUSINESS DEVELOPMENT & SEMINARS, CAPITAL IMPROVEMENT & COMMUNITY BEAUTIFICATION, AND MORE TO IMPROVE THE QUALITY OF LIFE FOR THE COMMUNITY OF EAST BOSTON.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VARIOUS GRANTS MADE TO EAST BOSTON ORGANIZATIONS TO SUPPORT AND IMPROVE THE QUALITY OF LIFE IN THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lorene Schettino Executive Director | Officer | 20 | $40,000 |
David Arinella Treasurer | OfficerTrustee | 1 | $0 |
Gloribell Mota Chairwoman | OfficerTrustee | 1 | $0 |
Jeff Drago ESQ Director | Trustee | 1 | $0 |
Robert Anthony Director | Trustee | 1 | $0 |
Christopher Marchi Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $687,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $687,000 |
| Total Program Service Revenue | $0 |
| Investment income | $2,802 |
| 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 | $689,802 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $715,791 |
| 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. | $40,000 |
| Compensation of current officers, directors, key employees. | $40,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,181 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,050 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $728 |
| Office expenses | $597 |
| Information technology | $1,166 |
| Royalties | $0 |
| Occupancy | $426 |
| 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 | $2,634 |
| All other expenses | $1,580 |
| Total functional expenses | $781,153 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,612,843 |
| 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 | $0 |
| 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 | $1,612,843 |
| Accounts payable and accrued expenses | $12,000 |
| Grants payable | $126,670 |
| 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 | $138,670 |
| Net assets without donor restrictions | $128,542 |
| Net assets with donor restrictions | $1,345,631 |
| 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 | $1,612,843 |
Grants Awarded
Over the last fiscal year, The East Boston Foundation has awarded $692,000 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF BOSTON PURPOSE: TO FUND A SENIOR CENTER. | $389,000 |
Boston, MA PURPOSE: COMMUNITY CENTER TO SUPPORT TEEN PROGRAMS AND YOUTH SERVICES PROGRAMING. | $51,000 |
EB APAC (ABCD SUMMERWORKS) PURPOSE: PROVIDE JOBS TO YOUTHS | $50,000 |
East Boston, MA PURPOSE: TEACHES CHILDREN MUSIC AND HOLDS MUSICAL EVENTS | $37,500 |
East Boston, MA PURPOSE: HELPS THE LOCAL COMMUNITY WITH CHILD CARE AND VARIOUS HEALTH AND WELLNESS | $25,000 |
East Boston, MA PURPOSE: DEDICATED TO PROVIDING ACCESSIBLE RECREATIONAL, EDUCATIONAL, AND PERSONAL GROWTH OPPORTUNITIES FOR PEOPLE OF ALL AGES | $25,000 |
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 |