Saab Family Foundation
- Assets
- $16.8m
- Revenue
- $1.0m
- Investments
- $16.2m
- Employees
- 0
- Location
- Lowell, MA
- Founding
- 04/2013
- Data as of
- 12/2021
- EIN
- 27-4392768
Organization Overview
Saab Family Foundation is located in Lowell, MA. The organization was established in 2013. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Saab Family 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 12/2021, Saab Family Foundation generated $1.0m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 22.6% each year . All expenses for the organization totaled $1.1m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Saab Family Foundation has awarded 373 individual grants totaling $2,149,857. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE FUNDS TO CHARITABLE ORGANIZATIONS IN THE LOWELL, MA AND SALEM, NH AREAS THAT PROVIDE ASSISTANCE TO LOW-INCOME INDIVIDUALS, YOUTH AND HOMELESS INDIVIDUALS.
HIGH SCHOOL AND COLLEGE SCHOLARSHIPS FOR DESERVING LOCAL YOUTH OF LIMITED ECONOMIC MEANS.
PROVIDE FUNDS TO CHARITABLE ORGANIZATIONS IN THE LOWELL, MA AND SALEM, NH AREAS THAT PROVIDE ASSISTANCE TO INDIVIDUALS IMPACTED BY THE PANDEMIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elisia M Saab Trustee, Chair, Treasurer | 1.6 | $0 | |
Analise S Brown Trustee | 1.6 | $0 | |
Tricia L Albert Trustee | 1.6 | $0 | |
Alana T Saab Trustee | 1.6 | $0 | |
Mark A Saab Trustee | 1.6 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $35,132 |
| Dividends & Interest | $503,718 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $484,029 |
| Capital Gain Net Income | $484,029 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,022,879 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $980 |
| Taxes | $35,849 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $135,409 |
| Total operating and administrative expenses | $184,827 |
| Contributions, gifts, grants paid | $869,623 |
| Total expenses and disbursements | $1,054,450 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $820 |
| Savings and temporary cash investments | $591,859 |
| 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 | $8,919,043 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $16,834,169 |
| 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, Saab Family Foundation has awarded $869,623 in support to 144 organizations.
| Grant Recipient | Amount |
|---|---|
Cambridge, MA PURPOSE: GENERAL OPERATIONS | $25,000 |
NASHUA CHILDREN'S HOME PURPOSE: GENERAL OPERATIONS - PANDEMIC RELIEF | $25,000 |
HABITAT FOR HUMANITY OF GREATER LOWELL INC PURPOSE: GENERAL OPERATIONS - CRITICAL HOME REPAIRS FOR SENIORS | $25,000 |
Lowell, MA PURPOSE: GENERAL OPERATIONS - PANDEMIC RELIEF | $25,000 |
Malden, MA PURPOSE: GENERAL OPERATIONS | $25,000 |
Lowell, MA PURPOSE: GENERAL OPERATIONS | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Joan And Irwin Jacobs Technion-Cornell Innovation Instit New York, NY | $205,040,861 | $18,316,542 |
Tikvah Fund New York, NY | $103,047,859 | $6,270,985 |
Catholic Schools Foundation Inc Boston, MA | $110,171,239 | $27,305,892 |
Echoing Green Inc New York, NY | $60,744,468 | $19,754,073 |
Partnership For Ed Advancement Inc New York, NY | $36,194,552 | $41,198,488 |
Alavi Foundation New York, NY | $64,468,510 | $30,201,673 |
Uncommon Lender Inc New York, NY | $174,239,408 | $12,168,791 |
Family Enrichment Network Inc Johnson City, NY | $8,020,609 | $12,621,621 |
Laspau Inc Cambridge, MA | $9,172,350 | $9,862,515 |
Vermont Student Development Fund Inc Winooski, VT | $17,468,961 | $10,359,436 |
The Teagle Foundation Incorporated New York, NY | $172,379,349 | $12,655,674 |
Jackie Robinson Foundation Inc New York, NY | $30,161,175 | $8,662,334 |