Cambridge Trust Charitable Found Fka Wellesley Bank Charitable Fdn
- Assets
- $4.6m
- Revenue
- $190.5k
- Investments
- $4.3m
- Employees
- 0
- Location
- Burlington, MA
- Founding
- 06/2013
- Data as of
- 12/2023
- 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 12/2023, Cambridge Trust Charitable Found Fka Wellesley Bank Charitable Fdn generated $190.5k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $598.8k during the year ending 12/2023. 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 682 individual grants totaling $2,286,366. 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 |
|---|---|---|---|
Danielle Remis President/director | 1 | $0 | |
Dina Scianna Vice President/director | 1 | $0 | |
Jessica Suttle Corporate Secretary/clerk | 1 | $0 | |
Peter Halberstadt Treasurer/driector | 1 | $0 | |
Ana Mojica Director | 1 | $0 | |
Daniel Morrison Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $129 |
| Dividends & Interest | $129,227 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $61,161 |
| Capital Gain Net Income | $86,161 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $190,517 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,715 |
| Depreciation | $30,073 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,954 |
| Total operating and administrative expenses | $68,836 |
| Contributions, gifts, grants paid | $529,915 |
| Total expenses and disbursements | $598,751 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $32,263 |
| Savings and temporary cash investments | $245,597 |
| 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 | $14,453 |
| Other assets | $0 |
| Total assets | $4,567,264 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $110,000 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | -$785 |
| Total liabilities | $109,215 |
Grants Awarded
Over the last fiscal year, Cambridge Trust Charitable Found Fka Wellesley Bank Charitable Fdn has awarded $663,815 in support to 201 organizations.
| Grant Recipient | Amount |
|---|---|
51 WALDEN INC PURPOSE: EXEMPT PURPOSE | $500 |
ADOLESCENT CONSULTATION SERVICES PURPOSE: EXEMPT PURPOSE | $500 |
ALLSTON BRIGHTON COMMUNITY DEVELOPMENT CORPORATION PURPOSE: EXEMPT PURPOSE | $1,000 |
826 BOSTON INC PURPOSE: EXEMPT PURPOSE | $2,500 |
ARCK BOSTON PURPOSE: EXEMPT PURPOSE | $1,000 |
ART RESOURCE COLLABORATIVE FOR KIDS INC PURPOSE: EXEMPT PURPOSE | $1,500 |