Albert & Amelia Ferst Operating Foundation
- Assets
- $6.8m
- Revenue
- $966.8k
- Investments
- $0.0
- Employees
- 37
- Location
- Westfield, MA
- Founding
- 01/1999
- Data as of
- 12/2022
- EIN
- 04-3435123
Organization Overview
Albert & Amelia Ferst Operating Foundation is located in Westfield, MA. The organization was established in 1999. According to its NTEE Classification (N30) the organization is classified as: Physical Fitness & Community Recreational Facilities, under the broad grouping of Recreation & Sports and related organizations. As of 12/2022, Albert & Amelia Ferst Operating Foundation employed 37 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Albert & Amelia Ferst Operating Foundation 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 12/2022, Albert & Amelia Ferst Operating Foundation generated $966.8k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $1.1m during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE RECREATIONAL OPPORTUNITIES, FINANCIAL AID AND SCHOLARSHIPS TO THE YOUTH OF THE GREATER WESTFIELD AREA
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM EXPENSES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sharon Czarnecki Trustee | Trustee | 1 | $0 |
Beverly Donnachie Trustee | Trustee | 1 | $0 |
Tom Daly Trustee | Trustee | 1 | $0 |
Dave Caspole Trustee | Trustee | 1 | $0 |
John Liptak Trustee | Trustee | 1 | $0 |
Donald Goodreau Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,574 |
| All other contributions, gifts, grants, and similar amounts not included above | $65,604 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $70,178 |
| Total Program Service Revenue | $893,239 |
| Investment income | $15,770 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $760 |
| Net Income from Fundraising Events | -$13,187 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $966,760 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $302,364 |
| Pension plan accruals and contributions | $5,127 |
| Other employee benefits | $10,165 |
| Payroll taxes | $34,195 |
| Fees for services: Management | $14,902 |
| Fees for services: Legal | $5,000 |
| Fees for services: Accounting | $8,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $9,964 |
| Office expenses | $1,972 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $233,816 |
| Travel | $2,534 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $289,533 |
| Insurance | $36,809 |
| All other expenses | $9,616 |
| Total functional expenses | $1,077,421 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,350 |
| Savings and temporary cash investments | $617,162 |
| Pledges and grants receivable | $861,509 |
| Accounts receivable, net | $96,437 |
| 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 | $2,487 |
| Net Land, buildings, and equipment | $4,718,430 |
| Investments—publicly traded securities | $483,928 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,781,303 |
| Accounts payable and accrued expenses | $2,962 |
| Grants payable | $0 |
| Deferred revenue | $109,387 |
| 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 | $150,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $12,995 |
| Total liabilities | $275,344 |
| Net assets without donor restrictions | $5,512,025 |
| Net assets with donor restrictions | $993,934 |
| 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 | $6,781,303 |