William E Schrafft & Bertha E Schrafft Charitable Trust
- Assets
- $44.5m
- Revenue
- $1.9m
- Investments
- $42.9m
- Employees
- 0
- Location
- Boston, MA
- Founding
- 10/1947
- Data as of
- 12/2023
- EIN
- 04-6065605
Organization Overview
William E Schrafft & Bertha E Schrafft Charitable Trust is located in Boston, MA. The organization was established in 1947. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. William E Schrafft & Bertha E Schrafft Charitable Trust 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 12/2023, William E Schrafft & Bertha E Schrafft Charitable Trust generated $1.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (6.5%) each year. All expenses for the organization totaled $2.5m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, William E Schrafft & Bertha E Schrafft Charitable Trust has awarded 885 individual grants totaling $16,419,609. 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lavinia B Chase Trustee | 4 | $15,000 | |
Kristen J Mccormack Trustee | 4 | $15,000 | |
Karen Faulkner Executive Director | 30 | $45,000 | |
Joseph Corrado Trustee | 6 | $15,000 | |
Lily E Mendez Trustee | 3 | $17,500 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Merrill Lynch | 12/30/23 | $115,038 |
Middleton & Co | 12/30/23 | $98,172 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $58,840 |
| Dividends & Interest | $950,331 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $899,057 |
| Capital Gain Net Income | $899,057 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,908,228 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $107,500 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $8,081 |
| Depreciation | $0 |
| Occupancy | $18,000 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $24,277 |
| Total operating and administrative expenses | $507,234 |
| Contributions, gifts, grants paid | $2,009,500 |
| Total expenses and disbursements | $2,516,734 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,593,802 |
| 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 | $2,284,946 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $44,500,085 |
| 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 | $181,036 |
| Total liabilities | $181,036 |
Grants Awarded
Over the last fiscal year, William E Schrafft & Bertha E Schrafft Charitable Trust has awarded $2,009,500 in support to 100 organizations.
| Grant Recipient | Amount |
|---|---|
3 POINT FOUNDATION PURPOSE: OPERATING | $10,000 |
18 DEGREES PURPOSE: OPERATING | $6,000 |
AFRICAN COMMUNITY EDUCATION PROGRAM PURPOSE: OPERATING | $6,000 |
ALL DORCHESTER SPORTS AND LEADERSHIP PURPOSE: AFTER SCHOOL OUT OF SCHOOL YOUTH PROGRAMS | $10,000 |
826 BOSTON PURPOSE: AFTER SCHOOL WRITING TUTORING | $20,000 |
ARTISTS FOR HUMANITY PURPOSE: YOUTH ARTS ENTERPRISE | $20,000 |