Eastern Bank Charitable Foundation
- Assets
- $232.1m
- Revenue
- $23.0m
- Investments
- $225.1m
- Employees
- 0
- Location
- Lynn, MA
- Founding
- 05/1995
- Data as of
- 12/2022
- EIN
- 22-3317340
Organization Overview
Eastern Bank Charitable Foundation is located in Lynn, MA. The organization was established in 1995. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Eastern Bank Charitable 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, Eastern Bank Charitable Foundation generated $23.0m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $18.6m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Eastern Bank Charitable Foundation has awarded 4,228 individual grants totaling $51,628,550. 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.
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 |
|---|---|---|---|
Joseph T Chung Trustee | 1 | $0 | |
Bari A Harlam Trustee | 1 | $0 | |
Carol N Fulp Trustee | 1 | $0 | |
Deborah C Jackson Trustee | 1 | $0 | |
Robert F Rivers Trustee | 1 | $0 | |
James Rudolph Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Eastern Bank | 12/30/22 | $2,802,418 |
Lois L Lindauer Searches Llc | 12/30/22 | $69,000 |
Michael P Wasserman Inc | 12/30/22 | $295,100 |
Sutherland Video Productions | 12/30/22 | $81,061 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $4,908,162 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $17,932,344 |
| Capital Gain Net Income | $33,818,344 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $123,750 |
| Total Revenue | $22,964,256 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $531,554 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $723,160 |
| Total operating and administrative expenses | $4,214,609 |
| Contributions, gifts, grants paid | $14,400,000 |
| Total expenses and disbursements | $18,614,609 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,051,857 |
| Savings and temporary cash investments | $0 |
| 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 | $500,000 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $232,137,464 |
| 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 | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Eastern Bank Charitable Foundation has awarded $14,400,000 in support to 1,219 organizations.
| Grant Recipient | Amount |
|---|---|
617 ROCKS FOUNDATION ANNUAL CHARITY CONCERT PURPOSE: EXEMPT PURPOSE | $10,000 |
826 BOSTON PURPOSE: EXEMPT PURPOSE | $3,000 |
ABBY KELLEY FOSTER HOUSE PURPOSE: EXEMPT PURPOSE | $5,100 |
A PLACE FOR ACE INC PURPOSE: EXEMPT PURPOSE | $50 |
ABILITIES DANCE INC PURPOSE: EXEMPT PURPOSE | $1,000 |
AGASSIZ BALDWIN COMMUNITY PURPOSE: EXEMPT PURPOSE | $1,000 |