Verano Fund
- Assets
- $2.0m
- Revenue
- $612.3k
- Investments
- $1.9m
- Employees
- 0
- Location
- Boston, MA
- Founding
- 02/2000
- Data as of
- 12/2022
- EIN
- 31-1689508
Organization Overview
Verano Fund is located in Boston, MA. The organization was established in 2000. 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. Verano 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 12/2022, Verano Fund generated $612.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.1%) each year. All expenses for the organization totaled $169.4k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Verano Fund has awarded 233 individual grants totaling $979,250. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
A Dix Leeson Jr Trustee | 1 | $0 | |
Charles E Clapp III Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Howland Capital Management | 12/30/22 | $24,180 |
Howland Capital Management | 12/30/22 | $1,800 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $65,385 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $546,881 |
| Capital Gain Net Income | $546,881 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $612,266 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,875 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $28,855 |
| Contributions, gifts, grants paid | $140,500 |
| Total expenses and disbursements | $169,355 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $189,321 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $2,045,985 |
| 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, Verano Fund has awarded $140,500 in support to 29 organizations.
| Grant Recipient | Amount |
|---|---|
BELMONT DAY SCHOOL PURPOSE: 2022 GRANT | $2,000 |
BUZZARDS BAY COALITION PURPOSE: 2022 GRANT | $1,500 |
CRISP PURPOSE: 2022 GRANT | $7,000 |
COMMUNITY SERVINGS PURPOSE: 2022 GRANT | $1,000 |
DOCTORS WITHOUT BORDERS USA PURPOSE: 2022 GRANT | $3,000 |
IOWA COMMUNITY IMPROVEMENTS PURPOSE: 2022 GRANT | $3,000 |