Merck Family Fund
- Assets
- $73.0m
- Revenue
- $7.7m
- Investments
- $67.9m
- Employees
- 0
- Location
- Milton Village, MA
- Founding
- 02/1958
- Data as of
- 12/2021
- EIN
- 22-6063382
Organization Overview
Merck Family Fund is located in Milton Village, MA. The organization was established in 1958. 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. Merck Family Fund 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, Merck Family Fund generated $7.7m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 24.9% each year . All expenses for the organization totaled $4.4m during the year ending 12/2021. While expenses have increased by 4.5% per year over the past 4 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 2014, Merck Family Fund has awarded 458 individual grants totaling $15,587,615. 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
2021
Describe the Organization's Program Activity:
AWARD CHARITABLE GRANTS THAT BENEFIT THE NATURAL ENVIRONMENT AND SOCIALLY/ECONOMICALLY DISADVANTAGED PERSONS. 85 GRANTS WERE PAID IN 2014.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jenny Russell Executive Director | 40 | $223,421 | |
James Maguire Chief Financial Officer | 40 | $124,132 | |
Eliza Hatch Trustee, President | 1 | $0 | |
Ian Hatch Trustee | 1 | $0 | |
Morgan Whitridge Trustee | 1 | $0 | |
Serena Whitridge Trustee (began 02/06/21) | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fortigent | 12/30/21 | $174,595 |
Ruth Goldman | 12/30/21 | $76,530 |
Pathstone Federal Street Advisors | 12/30/21 | $85,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $101,142 |
| Interest on Savings | $681 |
| Dividends & Interest | $860,422 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $6,785,893 |
| Capital Gain Net Income | $9,002,660 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $7,748,138 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $347,553 |
| Other employee salaries and wages | $33,566 |
| Pension plans, employee benefits | $133,239 |
| Interest | $0 |
| Taxes | $167,026 |
| Depreciation | $0 |
| Occupancy | $47,300 |
| Travel, conferences, and meetings | $2,823 |
| Printing and publications | $0 |
| Other expenses | $49,876 |
| Total operating and administrative expenses | $1,216,495 |
| Contributions, gifts, grants paid | $3,156,580 |
| Total expenses and disbursements | $4,373,075 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $49,669 |
| Savings and temporary cash investments | $4,943,788 |
| 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 | $69,446 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $37,219,950 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $41,539 |
| Total assets | $72,962,854 |
| Accounts payable and accrued expenses | $20,623 |
| Grants payable | $997,000 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $473,530 |
| Total liabilities | $1,491,153 |
Grants Awarded
Over the last fiscal year, Merck Family Fund has awarded $4,206,580 in support to 120 organizations.
| Grant Recipient | Amount |
|---|---|
Charlottesville, VA PURPOSE: PROMOTING ENERGY EFFICIENCY AS THE FIRST ENERGY RESOURCE OF THE SOUTHEAST | $150,000 |
Charlottesville, VA PURPOSE: PROMOTING ENERGY EFFICIENCY AS THE FIRST ENERGY RESOURCE OF THE SOUTHEAST | $150,000 |
Rockport, ME PURPOSE: ADVANCING ENERGY EFFICIENCY IN NEW ENGLAND | $100,000 |
New York, NY PURPOSE: PEAK CAMPAIGN | $100,000 |
Knoxville, TN PURPOSE: PROMOTING ENERGY EFFICIENCY IN THE SOUTHEAST | $100,000 |
CERES PURPOSE: MOBILIZING CORPORATE ENERGY USERS TO INCREASE ENERGY EFFICIENCY | $75,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Merck Family Fund has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
John Merck Fund Harrison, NY PURPOSE: TO PRODUCE A STUDY OF MASS TRANSIT COSTS IN THE UNITED STATES. | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Redhill Foundation-Sam And Jean Rothberg Family Charitable Trust New York, NY | $42,979,654 | $7,387,635 |
Robert W Wilson Charitable Tr New York, NY | $246,803,641 | $15,248,568 |
The Zegar Family Foundation New York, NY | $255,794,688 | $35,430,517 |
The Blackrock Charitable Foundation New York, NY | $304,949,202 | $10,722,340 |
High Meadows Foundation Boston, MA | $7,499,132 | $11,021,494 |
Zankel Fund New York, NY | $8,426,526 | $6,600,017 |
Synchrony Foundation Stamford, CT | $74,474,766 | $12,637,293 |
Gavin Foundation Inc South Boston, MA | $19,688,054 | $21,343,242 |
Jp Fletcher Foundation Inc Cambridge, MA | $29,829,221 | -$3,521,275 |
Estee Lauder Companies Charitable Foundation New York, NY | $35,974,866 | $21,957,506 |
Theodore J Forstmann Charitable Trust New York, NY | $79,816,371 | $674,210 |
The Carol A Ammon Foundation Albany, NY | $10,088,469 | $6,097,174 |