Mussafer Fam Foundation
- Assets
- $56.1m
- Revenue
- -$225.3k
- Investments
- $53.1m
- Employees
- 0
- Location
- Boston, MA
- Founding
- 07/2019
- Data as of
- 12/2022
- EIN
- 38-7216877
Organization Overview
Mussafer Fam Foundation is located in Boston, MA. The organization was established in 2019. According to its NTEE Classification (T11) the organization is classified as: Single Organization Support, 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. Mussafer Fam Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Since 2020, Mussafer Fam Foundation has awarded 87 individual grants totaling $5,253,750. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David M Mussafer Trustee | 4 | $0 | |
Marion M Mussafer Trustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,774 |
| Interest on Savings | $28,218 |
| Dividends & Interest | $903,494 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$1,159,821 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | -$225,335 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $188,924 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $427,648 |
| Total operating and administrative expenses | $663,763 |
| Contributions, gifts, grants paid | $2,152,750 |
| Total expenses and disbursements | $2,816,513 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,937,660 |
| 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 | $87,959 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $4,312,198 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $224 |
| Total assets | $56,143,255 |
| Accounts payable and accrued expenses | $0 |
| 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 | $34,406 |
| Total liabilities | $34,406 |
Grants Awarded
Over the last fiscal year, Mussafer Fam Foundation has awarded $2,152,750 in support to 35 organizations.
| Grant Recipient | Amount |
|---|---|
TULANE UNIVERSITY PURPOSE: OPERATIONS | $1,000,000 |
BOYS AND GIRLS CLUBS OF BOSTON PURPOSE: OPERATIONS | $25,000 |
UNIVERSITY OF PENNSYLVANIA PURPOSE: OPERATIONS | $23,250 |
RIPPLES OF HOPE PURPOSE: OPERATIONS | $12,000 |
CITY YEAR - 25TH ANNIVERSARY PURPOSE: OPERATIONS | $500,000 |
BEACON ACADEMY PURPOSE: OPERATIONS | $10,000 |