Independent Association Of Framingham State Alumni
- Assets
- $2.4m
- Revenue
- $216.5k
- Investments
- $0.0
- Employees
- 2
- Location
- Framingham, MA
- Founding
- 02/1986
- Data as of
- 04/2021
- EIN
- 04-2162427
Organization Overview
Independent Association Of Framingham State Alumni is located in Framingham, MA. The organization was established in 1986. According to its NTEE Classification (B84) the organization is classified as: Alumni Associations, under the broad grouping of Education and related organizations. As of 04/2021, Independent Association Of Framingham State Alumni employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Independent Association Of Framingham State Alumni 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 04/2021, Independent Association Of Framingham State Alumni generated $216.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $207.6k during the year ending 04/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
ADMINISTER BENEVOLENT FUNDS AND MAINTAIN ALUMNI HOUSE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STUDENT SCHOLARSHIPS, AWARDS AND GRANTS
VARIOUS STUDENT AND ALUMNI ACTIVITIES AND PROGRAMS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Francesca Cerutti-Harris Executive Director | OfficerTrustee | 37.7 | $57,125 |
Colleen Maxfield Assistant To Director | Trustee | 17 | $14,756 |
Marcia Coker Mattero Treasurer | OfficerTrustee | 2 | $0 |
Patricia Doherty Berlandi Vice President | OfficerTrustee | 1 | $0 |
Mary Kenney Liscombe President | OfficerTrustee | 3 | $0 |
Andrew Diorio Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $102,457 |
| Investment income | $29,979 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $84,075 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $216,511 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $49,855 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $71,361 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $286 |
| Payroll taxes | $5,864 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,451 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $15,626 |
| Fees for services: Other | $0 |
| Advertising and promotion | $73 |
| Office expenses | $7,499 |
| Information technology | $1,810 |
| Royalties | $0 |
| Occupancy | $3,861 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,566 |
| Insurance | $4,112 |
| All other expenses | $0 |
| Total functional expenses | $207,630 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,843 |
| Savings and temporary cash investments | $25,744 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $2,264,758 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,448,853 |
| Accounts payable and accrued expenses | $2,350 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $126,575 |
| Total liabilities | $128,925 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $2,319,928 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Independent Association Of Framingham State Alumni has recieved totaling $491.
| Awarding Organization | Amount |
|---|---|
Amica Companies Foundation Lincoln, RI PURPOSE: GENERAL PURPOSE | $350 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $116 |
Verizon Foundation Basking Ridge, NJ PURPOSE: MIP PAYOUT FOR 03/09/21 | $25 |
Endowment Analysis
| Beg. Balance | $722,554 |
| Earnings | $228,496 |
| Net Contributions | $945 |
| Other Expense | $41,559 |
| Ending Balance | $910,436 |