Mfs Investment Management Foundation Inc
- Assets
- $13.6m
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Boston, MA
- Founding
- Data as of
- 12/2023
- EIN
- 87-1687549
Organization Overview
Mfs Investment Management Foundation Inc is located in Boston, MA. 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. Mfs Investment Management 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 12/2023, Mfs Investment Management Foundation Inc generated $3.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (33.2%) each year.
Since 2022, Mfs Investment Management Foundation Inc has awarded 54 individual grants totaling $1,917,488. 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 |
|---|---|---|---|
Heidi W Hardin Clerk, Dir | 1 | $0 | |
Amrit A Kanwal Dir, Treas | 1 | $0 | |
Mark A Leary Dir, Pres | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $3,043,538 |
| Interest on Savings | $539,482 |
| 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 | $3,583,020 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $6,024 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $94,658 |
| Total operating and administrative expenses | $101,432 |
| Contributions, gifts, grants paid | $1,180,548 |
| Total expenses and disbursements | $1,281,980 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $13,638,119 |
| 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 | $13,638,119 |
| 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, Mfs Investment Management Foundation Inc has awarded $1,180,548 in support to 26 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN FRIENDS OF NATAL INC PURPOSE: GENERAL & UNRESTRICTED | $30,000 |
AMERICAN ONLINE GIVING FOUNDATION INC PURPOSE: GENERAL & UNRESTRICTED | $563,675 |
BOYS & GIRLS CLUB OF STONEHAM INC PURPOSE: GENERAL & UNRESTRICTED | $5,000 |
AMERICAN RED CROSS - MASSACHUSETTS REGIONAL HEADQU PURPOSE: GENERAL & UNRESTRICTED | $100,000 |
BOYS AND GIRLS CLUBS OF BOSTON INC PURPOSE: GENERAL & UNRESTRICTED | $3,500 |
CITY YEAR INC PURPOSE: GENERAL & UNRESTRICTED | $200,000 |