Invest In Others Charitablefoundation Inc
- Assets
- $3.3m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 6
- Location
- Andover, MA
- Founding
- 02/2007
- Data as of
- 12/2021
- EIN
- 20-5036808
Organization Overview
Invest In Others Charitablefoundation Inc is located in Andover, MA. The organization was established in 2007. According to its NTEE Classification (T21) the organization is classified as: Corporate Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Invest In Others Charitablefoundation Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Invest In Others Charitablefoundation 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 12/2021, Invest In Others Charitablefoundation Inc generated $2.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.1% each year . All expenses for the organization totaled $2.1m during the year ending 12/2021. 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.
Since 2015, Invest In Others Charitablefoundation Inc has awarded 143 individual grants totaling $2,752,690. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO AMPLIFY THE CHARITABLE WORK OF FINANCIAL ADVISORS, EMPLOYEES, AND THEIR FIRMS, AND TO SERVE AS A CATALYST TO CHANNEL PHILANTHROPY AND VOLUNTEERISM TO WHERE IT IS NEEDED MOST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE INVEST IN OTHERS AWARDS PROGRAM (THE PROGRAM) RECOGNIZES THE PHILANTHROPIC ACHIEVEMENTS OF FINANCIAL ADVISORS AND FINANCIAL SERVICES FIRMS IN COMMUNITIES ACROSS THE COUNTRY AND AROUND THE WORLD. FINANCIAL ADVISORS ARE NOMINATED FOR ONE OF THE FOLLOWING FIVE AWARDS: CATALYST, COMMUNITY SERVICE, EMERGING IMPACT, VOLUNTEER OF THE YEAR, AND LIFETIME ACHIEVEMENT. ADVISOR FINALISTS AND WINNERS RECEIVE A DONATION TO THEIR DESIGNATED CHARITIES; FINALISTS RECEIVE $20,000, WINNERS RECEIVE $50,000, AND THE LIFETIME ACHIEVEMENT AWARD WINNER RECEIVES $75,000. AWARDS ARE PRESENTED AT THE ANNUAL GALA EACH FALL.INVEST IN OTHERS GRANT PROGRAMS, INCLUDING GRANTS FOR GOOD AND GRANTS FOR CHANGE, PROVIDE AN OPPORTUNITY FOR EMPLOYEES OF THE FINANCIAL SERVICES INDUSTRY TO SECURE FUNDING FOR SPECIFIC PROGRAMS OR PROJECTS ON BEHALF OF NONPROFITS THAT THEY SUPPORT. GRANT AWARDS RANGE FROM $5,000 TO $25,000 AND ARE DISTRIBUTED THROUGHOUT THE YEAR.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Megan Mcauley President/executive Direct | OfficerTrustee | 40 | $279,233 |
Gregory Maynard Director Of Development | 40 | $125,570 | |
Jessica Dunham Program Manager | 40 | $101,446 | |
Kate Healy Clerk | OfficerTrustee | 5 | $0 |
Mark Goldberg Chair | OfficerTrustee | 5 | $0 |
C Trapnell Kloman Treasurer | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $87,820 |
| Related organizations | $0 |
| Government grants | $71,300 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,942,369 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,101,489 |
| Total Program Service Revenue | $0 |
| Investment income | $69,326 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $102,981 |
| Net Income from Fundraising Events | -$10,927 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,262,869 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,002,500 |
| 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. | $328,820 |
| Compensation of current officers, directors, key employees. | $16,441 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $333,198 |
| Pension plan accruals and contributions | $15,621 |
| Other employee benefits | $37,332 |
| Payroll taxes | $44,926 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $44,455 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $17,234 |
| Fees for services: Other | $55,537 |
| Advertising and promotion | $2,365 |
| Office expenses | $20,545 |
| Information technology | $30,746 |
| Royalties | $0 |
| Occupancy | $1,380 |
| Travel | $3,719 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $110,731 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $291 |
| Insurance | $3,661 |
| All other expenses | $0 |
| Total functional expenses | $2,053,061 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $740,185 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $35,000 |
| 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 | $61,951 |
| Net Land, buildings, and equipment | $1,207 |
| Investments—publicly traded securities | $2,465,619 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,303,962 |
| Accounts payable and accrued expenses | $75,116 |
| 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 | $0 |
| Total liabilities | $75,116 |
| Net assets without donor restrictions | $3,134,096 |
| Net assets with donor restrictions | $94,750 |
| 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 | $3,303,962 |
Grants Awarded
Over the last fiscal year, Invest In Others Charitablefoundation Inc has awarded $852,000 in support to 36 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: AWARD WINNER | $75,000 |
Atlanta, GA PURPOSE: AWARD WINNER | $50,000 |
HELPING HANDS FOR SINGLE MOMS DALLAS PURPOSE: AWARD WINNER | $50,000 |
Lanham, MD PURPOSE: AWARD WINNER | $50,000 |
New Kensington, PA PURPOSE: GRAB N GO WEEKLY | $40,000 |
Boone, NC PURPOSE: INDIGENOUS PEOPLES & NATIONS PROGRAM | $27,500 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Invest In Others Charitablefoundation Inc has recieved totaling $54,143.
| Awarding Organization | Amount |
|---|---|
Impactassets Inc Bethesda, MD PURPOSE: GENERAL SUPPORT | $25,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $16,603 |
Forst Foundation Fort Washington, PA PURPOSE: OPERATING SUPPORT | $12,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $40 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Interlaken Foundation Inc NEW YORk, NY | $351,082,390 | $62,213,890 |
Massmutual Foundation Inc Springfield, MA | $16,295,000 | $8,380,000 |
Brooklyn Community Foundation Brooklyn, NY | $117,862,940 | $42,787,989 |
The@macmillan Family Foundation Inc New York, NY | $313,323,783 | $55,336,840 |
Foundation For Opioid Response Efforts New York, NY | $121,364,686 | $9,522,193 |
Friends Of Ahavat Shalom Inc Monsey, NY | $3,129,424 | $10,586,531 |
Barnett & Annalee Newman Foundation Tr New York, NY | $11,118,262 | $1,105,539 |
Lone Pine Foundation Inc Greenwich, CT | $70,601,962 | $14,308,044 |
Citizen Of Burma Award Organization Inc Jackson Heights, NY | $195,993 | $9,716,460 |
Cullen Foundation Buffalo, NY | $115,865,929 | $16,357,498 |
Fiduciary Charitable Foundation Boston, MA | $117,480,981 | $103,573,534 |
Danoff Fam Private Charitable Foundation Tr Albany, NY | $116,755,274 | $33,799,667 |