Montrose Foundation Inc
- Assets
- $18.0m
- Revenue
- $9.2m
- Investments
- $79.0k
- Employees
- 124
- Location
- Medfield, MA
- Founding
- 08/1979
- Data as of
- 06/2023
- EIN
- 04-2668765
Organization Overview
Montrose Foundation Inc is located in Medfield, MA. The organization was established in 1979. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 06/2023, Montrose Foundation Inc employed 124 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Montrose 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 06/2023, Montrose Foundation Inc generated $9.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.5% each year. All expenses for the organization totaled $9.2m during the year ending 06/2023. While expenses have increased by 9.5% 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO EDUCATE YOUNG WOMEN TO PURSUE THE TRUTH IN ALL THEY DO. BUILT ON THE FOUNDATION OF A RICH LIBERAL ARTS CURRICULUM, PERSONAL CHARACTER FORMATION, AND COLLABORATION WITH PARENTS. EACH STUDENT IS CHALLENGED TO CULTIVATE INTELLECT, CHARACTER, LEADERSHIP, SERVICE, FAITH AND REASON.
Describe the Organization's Program Activity:
THE EDUCATION AND DEVELOPMENT OF LOCAL, NATIONAL, AND INTERNATIONAL YOUNG WOMEN FROM GRADES 6-12.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathleen Elrod Head Of Scho | OfficerTrustee | 40 | $162,528 |
Calvin Harrison Until 31023 Trustee | Trustee | 10 | $0 |
Erica Bachiochi Trustee | Trustee | 10 | $0 |
William Bowman Trustee | Trustee | 10 | $0 |
Todd Cassler Trustee | Trustee | 10 | $0 |
Tom Corra Trustee | Trustee | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $174,989 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $999,223 |
| Noncash contributions included in lines 1a–1f | $78,089 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,174,212 |
| Total Program Service Revenue | $7,999,098 |
| Investment income | $10,213 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$2,441 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$6,628 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,184,798 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,904,038 |
| 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 of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,810,006 |
| Pension plan accruals and contributions | $47,589 |
| Other employee benefits | $511,394 |
| Payroll taxes | $276,961 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $18,116 |
| Fees for services: Accounting | $25,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $186,243 |
| Advertising and promotion | $195,726 |
| Office expenses | $147,824 |
| Information technology | $146,786 |
| Royalties | $0 |
| Occupancy | $433,383 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $82,503 |
| Interest | $126,382 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $549,180 |
| Insurance | $75,227 |
| All other expenses | $61,007 |
| Total functional expenses | $9,212,452 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,351,572 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $19,238 |
| 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 | $84,851 |
| Net Land, buildings, and equipment | $16,419,756 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $79,003 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,964 |
| Total assets | $17,957,384 |
| Accounts payable and accrued expenses | $436,466 |
| Grants payable | $0 |
| Deferred revenue | $1,617,224 |
| 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 | $2,847,495 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $45,284 |
| Total liabilities | $4,946,469 |
| Net assets without donor restrictions | $12,823,647 |
| Net assets with donor restrictions | $187,268 |
| 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 | $17,957,384 |