Massachusetts Bay Community College Foundation
- Assets
- $6.7m
- Revenue
- $1.2m
- Investments
- $5.8m
- Employees
- 0
- Location
- Wellesley Hills, MA
- Founding
- 09/1985
- Data as of
- 06/2022
- EIN
- 22-2581930
Organization Overview
Massachusetts Bay Community College Foundation is located in Wellesley Hills, MA. The organization was established in 1985. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Massachusetts Bay Community College 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 06/2022, Massachusetts Bay Community College Foundation generated $1.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 20.6% each year . All expenses for the organization totaled $1.2m during the year ending 06/2022. While expenses have increased by 20.6% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SCHOLARSHIPS AND COLLEGE FUNDRAISING
Describe the Organization's Program Activity:
Part 3 - Line 4a
AWARDS SCHOLARSHIPS TO VARIOUS STUDENTS
ACADEMIC PROGRAMS AND STUDENT SERVICES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen T Hibbard Director & Vice Chair | OfficerTrustee | 0.5 | $0 |
James J Mckenzie Director & Chair | OfficerTrustee | 0.5 | $0 |
Joseph Asaya Director | Trustee | 0.5 | $0 |
Rebecca Kannam Director | Trustee | 0.5 | $0 |
Thomas W Cleverdon Director | Trustee | 0.5 | $0 |
Christopher Bissada Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,093,071 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,093,071 |
| Total Program Service Revenue | $0 |
| Investment income | $137,839 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$855 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,230,055 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $360,315 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,830 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $22,604 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,246,423 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $637,716 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $261,130 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $5,809,702 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,708,548 |
| Accounts payable and accrued expenses | $0 |
| 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 | $113,580 |
| Total liabilities | $113,580 |
| Net assets without donor restrictions | $1,574,234 |
| Net assets with donor restrictions | $5,020,734 |
| 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 | $6,708,548 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Massachusetts Bay Community College Foundation has recieved totaling $318,055.
| Awarding Organization | Amount |
|---|---|
Metrowest Health Foundation Inc Framingham, MA PURPOSE: ACCREDITED SIMULATION CENTER | $250,000 |
Massachusetts Charitable Mechanic Association Quincy, MA PURPOSE: TRADE RELATED EQUIPMENT AND SUPPORT | $15,247 |
Thorne Cox Family Foundation Boston, MA PURPOSE: OPERATIONS BUDGET ASSISTANCE | $15,000 |
Metrowest Health Foundation Inc Framingham, MA PURPOSE: NEW DAY/NUEVO DA | $15,000 |
Foundation For Metrowest Inc Natick, MA PURPOSE: GENERAL SUPPORT | $10,000 |
Avidia Charitable Foundation Inc Hudson, MA PURPOSE: TO SUPPORT THE MASSBAY MEAL SCHOLARSHIP PROGRAM WHICH WAS CREATED TO PROVIDE STUDENTS WITH FUNDS TO BE USED IN THE COLLEGE'S CAFETERIA. | $8,750 |
Endowment Analysis
| Beg. Balance | $6,228,805 |
| Earnings | -$933,573 |
| Other Expense | $230,481 |
| Ending Balance | $5,064,751 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hunter College Foundation Inc New York, NY | $144,509,988 | $37,248,838 |
The American Friends Of Winchester College New York, NY | $259,900 | $15,435,931 |
Friends Of@ascend Charter Schools Inc Brooklyn, NY | $51,013,536 | $16,135,870 |
Equitable Facilities Fund Inc New York, NY | $843,754,758 | $34,535,002 |
Dudley Square Realty Corporation Boston, MA | $98,074,702 | $123 |
Auxiliary Campus Enterprises And Services State University College Alfred, NY | $11,814,689 | $16,740,654 |
College Of Staten Island Auxiliary Services Corp Inc Staten Island, NY | $62,695,629 | $9,780,570 |
American Friends Of The National Gallery London Inc New York, NY | $305,852,204 | $2,300,126 |
Auxiliary Services Corporation Of Suny Cortland Cortland, NY | $19,099,097 | $10,450,642 |
The Roosevelt Institute New York, NY | $39,947,474 | $14,561,739 |
Empire Commons Student Housing Inc Albany, NY | $47,889,992 | $16,000,956 |
Prep For Prep New York, NY | $67,702,952 | $11,458,262 |