Boustead Family Foundation Inc
- Assets
- $3.6m
- Revenue
- $181.5k
- Investments
- $3.4m
- Employees
- 0
- Location
- Adirondack, NY
- Founding
- 08/1998
- Data as of
- 12/2022
- EIN
- 52-2097838
Organization Overview
Boustead Family Foundation Inc is located in Adirondack, NY. The organization was established in 1998. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Boustead Family 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 12/2022, Boustead Family Foundation Inc generated $181.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.0%) each year. All expenses for the organization totaled $268.4k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Boustead Family Foundation Inc has awarded 121 individual grants totaling $1,296,000. 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 |
|---|---|---|---|
Douglas Boustead President | 1 | $0 | |
Michael Boustead Secretary/treasurer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $13 |
| Dividends & Interest | $56,163 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $123,553 |
| Capital Gain Net Income | $123,553 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,730 |
| Total Revenue | $181,459 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $6,509 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $68,426 |
| Contributions, gifts, grants paid | $200,000 |
| Total expenses and disbursements | $268,426 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $168,303 |
| 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 | $599,804 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,577,606 |
| 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 | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Boustead Family Foundation Inc has awarded $200,000 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
ALLEGHENY COLLEGE - ANNUAL FUND PURPOSE: UNRESTRICTED SUPPORT | $20,000 |
AMERICAN BIRD CONSERVANCY PURPOSE: UNRESTRICTED SUPPORT | $5,000 |
CORNELL LAB OF ORNITHOLOGY PURPOSE: UNRESTRICTED SUPPORT | $5,000 |
CRANE MOUNTAIN VALLEY HORSE RESCUE INC PURPOSE: UNRESTRICTED SUPPORT | $5,000 |
FRIENDS OF THE SCHROON LAKE LIBRARY PURPOSE: UNRESTRICTED SUPPORT | $5,000 |
GUIDING EYES FOR THE BLIND PURPOSE: UNRESTRICTED SUPPORT | $5,000 |