King Spruce Company
- Assets
- $1.7m
- Revenue
- $182.4k
- Investments
- $1.5m
- Employees
- 0
- Location
- Boston, MA
- Founding
- 08/1956
- Data as of
- 05/2023
- EIN
- 01-6009168
Organization Overview
King Spruce Company is located in Boston, MA. The organization was established in 1956. 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. King Spruce Company 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 05/2023, King Spruce Company generated $182.4k 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 (8.1%) each year. All expenses for the organization totaled $399.2k during the year ending 05/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, King Spruce Company has awarded 513 individual grants totaling $2,302,129. 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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Meredith P Clapp Pres/trustee | 8 | $16,000 | |
Eugene H Clapp III Treas/trustee | 5 | $0 | |
Paul R Brown Clerk/trustee | 1 | $0 | |
Marjorie G Clapp V P/trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $182,413 |
| 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 | $182,413 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $16,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $272 |
| Taxes | $12,670 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $383 |
| Total operating and administrative expenses | $57,310 |
| Contributions, gifts, grants paid | $341,900 |
| Total expenses and disbursements | $399,210 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $152,230 |
| 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 | $663,000 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,684,353 |
| 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, King Spruce Company has awarded $341,900 in support to 69 organizations.
| Grant Recipient | Amount |
|---|---|
ACCESS SPORT AMERICA PURPOSE: UNRESTRICTED GIFT | $5,000 |
ADVENT SCHOOL PURPOSE: UNRESTRICTED GIFT | $1,000 |
BAILEY-MATTHEWS NATIONAL SHELL MUSEUM PURPOSE: UNRESTRICTED GIFT | $1,000 |
BEACON HILL CIVIC ASSOCIATION PURPOSE: UNRESTRICTED GIFT | $7,500 |
BARTH SYNDROME FOUNDATION PURPOSE: UNRESTRICTED GIFT | $5,000 |
BEACON HILL NURSERY SCHOOL PURPOSE: UNRESTRICTED GIFT | $1,000 |