Martin W Richard Charitable
- Assets
- $2.9m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Dorchester, MA
- Founding
- 02/2014
- Data as of
- 12/2023
- EIN
- 35-2491896
Organization Overview
Martin W Richard Charitable is located in Dorchester, MA. The organization was established in 2014. 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. Martin W Richard Charitable 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, Martin W Richard Charitable generated $1.4m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $1.5m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Martin W Richard Charitable has awarded 154 individual grants totaling $6,846,675. 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
HONOR THE MEMORY OF MARTIN W. RICHARD'S MESSAGE OF "NO MORE HURTING PEOPLE" BY RAISING FUNDS TO INVEST IN EDUCATION, ATHLETICS AND COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO RAISE FUNDS TO INVEST IN EDUCATION, ATHLETICS AND THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Denise K Richard President | OfficerTrustee | 0 | $0 |
William A Richard Treasurer | OfficerTrustee | 0 | $0 |
John E Hernandez Clerk | Trustee | 0 | $0 |
Brendan Mcdonough Director | Trustee | 0 | $0 |
Erin G O'brien Assistant Clerk | Trustee | 0 | $0 |
Vicky Shen Director | Trustee | 0 | $0 |
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 | $1,314,812 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,314,812 |
| Total Program Service Revenue | $0 |
| Investment income | $57,106 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $68,072 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,439,990 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,144,407 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $74,390 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $36,363 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,583 |
| 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 | $468 |
| Insurance | $3,061 |
| All other expenses | $591 |
| Total functional expenses | $1,483,123 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $389,286 |
| 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 | $2,373 |
| Net Land, buildings, and equipment | $2,922 |
| Investments—publicly traded securities | $2,473,591 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,000 |
| Total assets | $2,869,172 |
| Accounts payable and accrued expenses | $73,052 |
| Grants payable | $596,380 |
| 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 | $669,432 |
| Net assets without donor restrictions | $2,166,960 |
| Net assets with donor restrictions | $32,780 |
| 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 | $2,869,172 |
Grants Awarded
Over the last fiscal year, Martin W Richard Charitable has awarded $960,095 in support to 21 organizations.
| Grant Recipient | Amount |
|---|---|
BOSTON BRUINS FOUNDATION PURPOSE: UNRESTRICTED | $23,000 |
BOYS AND GIRLS CLUB OF DORCHESTER PURPOSE: TO MAKE A POSITIVE IMPACT ON YOUTH AND THEIR FAMILIES WITHIN THE COMMUNITY. | $443,426 |
HOPE AND COMFORT INC PURPOSE: UNRESTRICTED | $10,000 |
YOUTH ENRICHMENT SERVICES PURPOSE: UNRESTRICTED | $33,565 |
LOUIS D BROWN PEACE INSTITUTE PURPOSE: UNRESTRICTED | $116,143 |
BOSTON UNCORNERED A SOLUTION BY COLLEGE BOUND DOR PURPOSE: UNRESTRICTED | $25,000 |