Massmutual Foundation Inc
- Assets
- $16.3m
- Revenue
- $8.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Springfield, MA
- Founding
- 04/2016
- Data as of
- 12/2021
- EIN
- 47-4967720
Organization Overview
Massmutual Foundation Inc is located in Springfield, MA. The organization was established in 2016. According to its NTEE Classification (T21) the organization is classified as: Corporate 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. Massmutual Foundation Inc 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, Massmutual Foundation Inc generated $8.4m in total revenue.
Since 2016, Massmutual Foundation Inc has awarded 568 individual grants totaling $106,231,578. 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 |
|---|---|---|---|
James Paul Puhala III Clerk | 2 | $0 | |
Brian Funicane Assistant Treasurer | 2 | $0 | |
Alison Mathias Vice President | 3 | $0 | |
Noell Tuesta Associate Clerk | 2 | $0 | |
Dennis Duquette President/ceo | 3 | $0 | |
Christine Gouin Associate Clerk | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Judge Dina E Fein | 12/30/21 | $62,000 |
Mission Measurement | 12/30/21 | $60,000 |
Root Cause | 12/30/21 | $96,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $8,380,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $8,380,000 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $1,000 |
| Printing and publications | $0 |
| Other expenses | $10,852,000 |
| Total operating and administrative expenses | $10,921,000 |
| Contributions, gifts, grants paid | $6,175,000 |
| Total expenses and disbursements | $17,096,000 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,279,000 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $15,016,000 |
| 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 | $16,295,000 |
| Accounts payable and accrued expenses | $901,000 |
| Grants payable | $9,222,000 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $10,123,000 |
Grants Awarded
Over the last fiscal year, Massmutual Foundation Inc has awarded $19,006,484 in support to 90 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF MASSACHUSETTS PURPOSE: EXEMPT PURPOSE | $6,000,000 |
Newark, DE PURPOSE: EXEMPT PURPOSE | $2,428,138 |
UNIVERSITY OF MASSACHUSETTS AMHERST FOUNDATION INC PURPOSE: EXEMPT PURPOSE | $1,500,000 |
Hatfield, MA PURPOSE: EXEMPT PURPOSE | $1,000,000 |
Boston, MA PURPOSE: EXEMPT PURPOSE | $800,000 |
Hatfield, MA PURPOSE: EXEMPT PURPOSE | $595,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Goldman Sachs Foundation New York, NY | $0 | $131,861,636 |
Commonwealth Fund New York, NY | $0 | $69,444,117 |
Clark Foundation New York, NY | $443,485,871 | $14,281,811 |
John A Hartford Foundation New York, NY | $722,012,839 | $47,164,108 |
Blackstone Charitable Foundation New York, NY | $141,651,293 | $22,568,243 |
Oneworld Boston Inc Woburn, MA | $219,473,176 | $23,349,707 |
Deloitte Foundation Stamford, CT | $61,773,232 | $17,876,963 |
Interlaken Foundation Inc NEW YORk, NY | $351,082,390 | $62,213,890 |
Massmutual Foundation Inc Springfield, MA | $16,295,000 | $8,380,000 |
Brooklyn Community Foundation Brooklyn, NY | $117,862,940 | $42,787,989 |
The@macmillan Family Foundation Inc New York, NY | $313,323,783 | $55,336,840 |
Foundation For Opioid Response Efforts New York, NY | $121,364,686 | $9,522,193 |