Alku Foundation Inc
- Assets
- $7.6m
- Revenue
- $5.8m
- Investments
- $7.2m
- Employees
- 0
- Location
- Andover, MA
- Founding
- Data as of
- 12/2023
- EIN
- 88-3376597
Organization Overview
Alku Foundation Inc is located in Andover, 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. Alku 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, Alku Foundation Inc generated $5.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (4.9%) each year. All expenses for the organization totaled $847.7k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2022, Alku Foundation Inc has awarded 53 individual grants totaling $593,820. 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 |
|---|---|---|---|
Kathleen Eldridge President/treasurer | 2 | $0 | |
John Eldridge Director | 1 | $0 | |
Madeline Eldridge Director | 1 | $0 | |
Mark Eldridge Director | 2 | $0 | |
Vanessa Plant Executive Director | 40 | $186,805 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $5,534,008 |
| Interest on Savings | $1,509 |
| Dividends & Interest | $172,297 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $63,212 |
| Capital Gain Net Income | $63,212 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $5,771,026 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $214,705 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $34,179 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $4,436 |
| Total operating and administrative expenses | $264,145 |
| Contributions, gifts, grants paid | $583,596 |
| Total expenses and disbursements | $847,741 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $417,691 |
| Savings and temporary cash investments | $0 |
| 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 | $7,623,420 |
| 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, Alku Foundation Inc has awarded $583,596 in support to 43 organizations.
| Grant Recipient | Amount |
|---|---|
MASS MENTORING PARTNERSHIP PURPOSE: GENERAL SUPPORT | $195,430 |
DOVE PURPOSE: GENERAL SUPPORT | $60,000 |
BAGLY PURPOSE: GENERAL SUPPORT | $50,000 |
UNCOMMON THREADS PURPOSE: GENERAL SUPPORT | $40,777 |
BOSTON PARTNERS EDU PURPOSE: GENERAL SUPPORT | $25,000 |
BOSTON SCORES PURPOSE: GENERAL SUPPORT | $26,040 |