Mccourt Foundation Inc
- Assets
- $19.9m
- Revenue
- $8.6m
- Investments
- $0.0
- Employees
- 16
- Location
- South Boston, MA
- Founding
- 02/2011
- Data as of
- 12/2023
- EIN
- 90-0623963
Organization Overview
Mccourt Foundation Inc is located in South Boston, MA. The organization was established in 2011. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2023, Mccourt Foundation Inc employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mccourt 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, Mccourt Foundation Inc generated $8.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 44.9% each year . All expenses for the organization totaled $11.3m during the year ending 12/2023. While expenses have increased by 52.5% per year over the past 7 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.
Since 2014, Mccourt Foundation Inc has awarded 41 individual grants totaling $3,935,222. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
STRIVING TO HELP CURE NEUROLOGICAL DISEASES, WHILE EMPOWERING COMMUNITIES TO BUILD A HEALTHIER WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FUNDING RESEARCH FOR NEUROLOGICAL DISEASES, INCLUDING ALS, ALZHEIMER'S DISEASE, MULTIPLE SCLEROSIS AND PARKINSON'S DISEASE.SEE SCHEDULE O FOR CONTINUED DESCRIPTION.2023 NONPROFIT PARTNERSHIP PROGRAM80 NONPROFIT PARTNERS - RAISING OVER $3.3 MILLIONNONPROFIT INCLUDING BUT NOT LIMITED TO:ALZHEIMER'S ASSOCIATIONAMERICAN CANCER SOCIETYAMERICAN FOUNDATION FOR SUICIDE PREVENTIONCALIFORNIA REHABILITATION FOUNDATIONCHILDREN'S HOSPITAL OF LOS ANGELESCONNECTING TO CURE CROHN'S AND COLITISGLIOBLASTOMA FOUNDATIONHABITAT FOR HUMAITY OF GREATER LAHIRSHBERG FOUNDATION FOR PANCREATIC CANCER RESEARCHLOS ANGELES REGIONAL FOOD BANKLYMPHOMA RESEARCH FOUNDATIONNATIONAL BRAIN TUMOR SOCIETYPARKINSON'S COMMUNITY LOS ANGELESSPECIAL OLYMPICS OF SOUTHERN CALIFORNIAST. JUDE CHILDREN'S RESEARCH HOSPITALSUSAN G. KOMENTEEN CANCER AMERICATHE ALS ASSOCIATION GOLDEN WEST CHAPTERTHE NATIONAL MS SOCIETYTHE PABLOVE FOUNDATIONUCLA JONSSON CANCER CENTER FOUNDATIONWORLD VISION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Murphy Reinschreiber Chief Operating Officer | 40 | $246,264 | |
John Duke Senior Director Of Partnerships | 40 | $216,498 | |
Laurie Gestal Senior Director Marketing | 40 | $174,048 | |
Stacy Ferraro Senior Director Of Operations | 40 | $138,453 | |
Claudia Gliga Accounting Manager | 40 | $132,702 | |
Brian Mccourt Chairman/president | OfficerTrustee | 40 | $90,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rsm Us Llp Accounting Services | 12/30/21 | $139,967 |
Caps Llc Staffing Event Personnel | 12/30/21 | $185,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $271,243 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,628,018 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,899,261 |
| Total Program Service Revenue | $5,748,616 |
| Investment income | $38,291 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$48,107 |
| Net Income from Fundraising Events | -$67,304 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,570,757 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $176,508 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $90,118 |
| Compensation of current officers, directors, key employees. | $28,085 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,008,700 |
| Pension plan accruals and contributions | $44,685 |
| Other employee benefits | $137,990 |
| Payroll taxes | $156,390 |
| Fees for services: Management | $210,328 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $237,037 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $12,386 |
| Fees for services: Other | $422,885 |
| Advertising and promotion | $321,810 |
| Office expenses | $750,078 |
| Information technology | $53,575 |
| Royalties | $0 |
| Occupancy | $368,509 |
| Travel | $403,550 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $12 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,332,335 |
| Insurance | $108,310 |
| All other expenses | $155,203 |
| Total functional expenses | $11,279,570 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,540,838 |
| Savings and temporary cash investments | $109,260 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $861,016 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $427,159 |
| Net Land, buildings, and equipment | $14,848 |
| Investments—publicly traded securities | $1,081,404 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $15,837,375 |
| Other assets | $0 |
| Total assets | $19,871,900 |
| Accounts payable and accrued expenses | $406,526 |
| Grants payable | $0 |
| Deferred revenue | $4,354,274 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $4,760,800 |
| Net assets without donor restrictions | $15,111,100 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $19,871,900 |
Grants Awarded
Over the last fiscal year, Mccourt Foundation Inc has awarded $163,585 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
MASSACHUSETTS GENERAL HOSPITAL PURPOSE: SUPPORTING NEUROLOGY RESEARCH | $115,000 |
THE BOSTON HOME PURPOSE: WE SEEK TO MAKE A COMPELLING DIFFERENCE IN THE LIVES OF ADULTS WITH ADVANCED MULTIPLE SCLEROSIS AND OTHER PROGRESSIVE NEUROLOGICAL CONDITIONS. | $10,975 |
BRIGHAM & WOMENS HOSPITAL PURPOSE: SUPPORTING NEUROLOGY RESEARCH | $10,000 |
CEDARS-SINAI MEDICAL CENTER PURPOSE: SUPPORTING NEUROLOGY RESEARCH | $10,000 |
THE LEAD OUT FOUNDATION PURPOSE: ASPIRES TO MAKE LIFE EASIER FOR THOSE WITH SPINA BIFIDA AND ACCESSIBILITY AND MOBILITY CHALLENGES. | $17,610 |