Cambridge Trust Charitable Found Fka Wellesley Bank Charitable Fdn
- Assets
- $6.2m
- Revenue
- $1.3m
- Investments
- $6.0m
- Employees
- 0
- Location
- Burlington, MA
- Founding
- 06/2013
- Data as of
- 12/2021
- EIN
- 45-4182909
Organization Overview
Cambridge Trust Charitable Found Fka Wellesley Bank Charitable Fdn is located in Burlington, MA. The organization was established in 2013. 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. Cambridge Trust Charitable Found Fka Wellesley Bank Charitable Fdn 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, Cambridge Trust Charitable Found Fka Wellesley Bank Charitable Fdn generated $1.3m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 62.9% each year . All expenses for the organization totaled $455.7k during the year ending 12/2021. While expenses have increased by 21.7% per year over the past 5 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 2018, Cambridge Trust Charitable Found Fka Wellesley Bank Charitable Fdn has awarded 322 individual grants totaling $989,879. 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 |
|---|---|---|---|
Michael Carotenuto Treasurer/driector | 1 | $0 | |
Thomas J Fontaine President/director | 1 | $0 | |
Adelle Greenberg Secretary | 1 | $0 | |
Ralph Letner Director | 1 | $0 | |
Sheila Estes Director | 1 | $0 | |
Adam Johnston Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $160,767 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,149,828 |
| Capital Gain Net Income | $1,285,201 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,310,595 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $735 |
| Taxes | $20,157 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,549 |
| Total operating and administrative expenses | $38,186 |
| Contributions, gifts, grants paid | $417,550 |
| Total expenses and disbursements | $455,736 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $56,880 |
| Savings and temporary cash investments | $93,722 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $6,185,344 |
| Accounts payable and accrued expenses | $199 |
| Grants payable | $114,000 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $80,000 |
| Other liabilities | $17,257 |
| Total liabilities | $211,456 |
Grants Awarded
Over the last fiscal year, Cambridge Trust Charitable Found Fka Wellesley Bank Charitable Fdn has awarded $395,300 in support to 88 organizations.
| Grant Recipient | Amount |
|---|---|
NEIGHBORWORKS SOUTHERN NEW HAMPSHIRE PURPOSE: EXEMPT PURPOSE | $30,000 |
HANDEL & HAYDEN SOCIETY PURPOSE: EXEMPT PURPOSE | $30,000 |
NEW ERA FUND PURPOSE: EXEMPT PURPOSE | $30,000 |
Cambridge, MA PURPOSE: EXEMPT PURPOSE | $15,000 |
CASA MYRNA PURPOSE: EXEMPT PURPOSE | $10,000 |
BIG SISTER ASSOCIATION OF GREATER BOSTON INC PURPOSE: EXEMPT PURPOSE | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Druckenmiller Foundation New York, NY | $1,579,806,367 | $402,828,458 |
Rockefeller Brothers Fund Inc New York, NY | $1,654,004,790 | $94,665,303 |
Adelson Family Foundation Needham, MA | $5,626,414 | $49,822,227 |
Anna Maria And Stephen Kellen Foundation Inc New York, NY | $1,287,407,560 | $57,361,611 |
The Wallace Foundation New York, NY | $1,815,949,042 | $114,535,478 |
Stephen A Schwarzman Foundation New York, NY | $124,156,635 | $61,557,254 |
Pepsico Foundation Inc Purchase, NY | $25,033,678 | $1,734,936 |
Foundation Mireille And James Levy Usa New York, NY | $36,878,233 | $277,701 |
The Bat Hanadiv Foundation No 3 New York, NY | $1,717,297,999 | $245,079,951 |
Big East Conference Inc New York, NY | $25,429,264 | $59,716,596 |
Bristol-Myers Squibb Foundation Inc New York, NY | $146,629,708 | $46,784 |
Cohen Veterans Network Inc Stamford, CT | $21,771,420 | $47,396,071 |