University Of Massachusetts Foundation Inc

Organization Overview

University Of Massachusetts Foundation Inc is located in Boston, MA. The organization was established in 1957. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2021, University Of Massachusetts Foundation Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University Of Massachusetts 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 06/2021, University Of Massachusetts Foundation Inc generated $57.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.3% each year. All expenses for the organization totaled $28.8m during the year ending 06/2021. While expenses have increased by 2.6% per year over the past 6 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.

Mission & Program ActivityExcerpts From the 990T Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE MISSION OF THE UNIVERSITY OF MASSACHUSETTS FOUNDATION, INC. IS TO FOSTER AND PROMOTE THE GROWTH, PROGRESS AND GENERAL WELFARE OF THE UNIVERSITY OF MASSACHUSETTS AS STATED IN THE ORIGINAL 1950 ARTICLES OF ORGANIZATION. THE FOUNDATION RECEIVES, INVESTS AND DISBURSES PRIVATE GIFTS FOR THE BENEFIT OF THE UNIVERSITY OF MASSACHUSETTS AND ITS EDUCATIONAL MISSION.

Describe the Organization's Program Activity:

THE UNIVERSITY OF MASSACHUSETTS FOUNDATION, INC. INVESTS FUNDS FOR THE BENEFIT OF THE UNIVERSITY OF MASSACHUSETTS INCLUDING, BUT NOT LIMITED TO SUPPORT OF THE SCHOLARSHIP AND EDUCATION PROGRAMS AND GENERAL PROGRAM SERVICES EXPENDITURES.


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Outside Vendors & Contractors

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Affinaquest Llc
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$727,166
Boathouse Group Inc
Advertising
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Carnegie Dartlet Llc
Marketing & Enrollment
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Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $1,502,256
All other contributions, gifts, grants, and similar amounts not included above$20,250,475
Noncash contributions included in lines 1a–1f $1,090,970
Total Revenue from Contributions, Gifts, Grants & Similar$21,752,731
Total Program Service Revenue$0
Investment income -$5,637,357
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $28,687,565
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $57,111,837

Grants Recieved

Over the last fiscal year, we have identified 2 grants that University Of Massachusetts Foundation Inc has recieved totaling $260,000.

Awarding OrganizationAmount
Mathworks Foundation Inc

Natick, MA

PURPOSE: EXEMPT PURPOSE

$250,000
Charles F Bacon Trust Uw 1-20707-02

Dallas, TX

PURPOSE: UNRESTRICTED GENERAL

$10,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$552,052,478
Earnings$195,834,717
Admin Expense-$4,434,275
Net Contributions$19,576,038
Other Expense$139,918
Grants$18,981,733
Ending Balance$752,775,857

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