The Somerville Foundation Inc
- Assets
- $186.1k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Somerville, MA
- Founding
- 02/2019
- Data as of
- 06/2022
- EIN
- 81-4505509
Organization Overview
The Somerville Foundation Inc is located in Somerville, MA. The organization was established in 2019. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Somerville 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 06/2022, Somerville Foundation Inc generated $59.8k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 33.8% each year . All expenses for the organization totaled $47.0k during the year ending 06/2022. While expenses have increased by 16.9% per year over the past 4 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.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
THE MISSION OF THE SOMERVILLE EDUCATION FOUNDATION (SEF) IS TO PROMOTE LEARNING OPPORTUNITIES FOR ALL SOMERVILLE RESIDENTS WITH THE FOLLOWING FOCUS AREAS: 1. BASIC NEEDS. PRIORITIZE COMMUNITY RESOURCES TO FIRST ENSURE THAT ALL CHILDREN AND YOUNG PEOPLE ARE SECURE IN BASIC NEEDS FOR FOOD, SHELTER, CLOTHING, SUPPORT FOR RESIDENT STATUS, HEALTH, MENTAL HEALTH, AND ARE READY TO LEARN.2. YEAR-ROUND LEARNING. PROVIDE FINANCIAL SUPPORT THAT WILL ENABLE ALL OF SOMERVILLE'S CHILDREN AND YOUNG PEOPLE TO BENEFIT FROM ENHANCED LEARNING EXPERIENCES THAT WILL ENABLE THEM TO REACH THEIR FULL POTENTIAL BY - ENCOURAGING THE DEVELOPMENT OF INNOVATIVE INSTRUCTIONAL METHODS, THE ACQUISITION AND USE OF ENRICHED TEACHING MATERIALS, AND THE PILOTING OF NEW TECHNOLOGY AND COMMUNITY PARTNERSHIPS IN THE CLASSROOM.- EXPANDING ACCESS TO HIGH-QUALITY OUT-OF-SCHOOL TIME PROGRAMS FOR ALL OF SOMERVILLE'S CHILDREN AND YOUNG PEOPLE.3. APPLIED LEARNING. ENSURE ALL HIGH SCHOOL STUDENTS HAVE THE OPPORTUNITY TO ACCESS INTERNSHIPS, SUMMER JOBS, COOPS, AND PROJECT-BASED APPLIED LEARNING OPPORTUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Greg Nadeau President | 1 | $0 | |
Marian Berkowitz Director | 1 | $0 | |
Michael Chiu Registered Agent | 1 | $0 | |
Megan Bouchard Director | 1 | $0 | |
Barry Rafkind Treasurer | 1 | $0 | |
Wilbert Pineda Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $59,751 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $59,751 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $5,969 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $2,770 |
| Total expenses | $46,953 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $186,077 |
| Other assets | $0 |
| Total assets | $186,077 |
| Total liabilities | $12,686 |
| Net assets or fund balances | $173,391 |
Grants Awarded
Over the last fiscal year, The Somerville Foundation Inc has awarded $64,252 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SOMERVILLE COMMUNITY ACCESS TELEVISION PURPOSE: EDUCATIONAL PROGRAMMING | $29,252 |
SOMERVILLE PUBLIC SCHOOLS PURPOSE: FUNDING OF DATA ANALYST POSITION | $35,000 |