Martin W Richard Charitable
- Assets
- $4.1m
- Revenue
- $768.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Dorchester, MA
- Founding
- 02/2014
- Data as of
- 12/2021
- EIN
- 35-2491896
Organization Overview
Martin W Richard Charitable is located in Dorchester, MA. The organization was established in 2014. According to its NTEE Classification (T30) the organization is classified as: Public 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. Martin W Richard Charitable 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, Martin W Richard Charitable generated $768.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.0%) 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, Martin W Richard Charitable has awarded 103 individual grants totaling $4,401,914. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
HONOR THE MEMORY OF MARTIN W. RICHARD'S MESSAGE OF "NO MORE HURTING PEOPLE" BY RAISING FUNDS TO INVEST IN EDUCATION, ATHLETICS AND COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO RAISE FUNDS TO INVEST IN EDUCATION, ATHLETICS AND THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Denise K Richard President | OfficerTrustee | 0 | $0 |
William A Richard Treasurer | OfficerTrustee | 0 | $0 |
John E Hernandez Clerk | Trustee | 0 | $0 |
Brendan Mcdonough Director | Trustee | 0 | $0 |
Erin G O'brien Assistant Clerk | Trustee | 0 | $0 |
Dot Joyce Director | Trustee | 0 | $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 | $289,071 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $289,071 |
| Total Program Service Revenue | $0 |
| Investment income | $65,154 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $414,054 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $768,279 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $920,469 |
| 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 | $55,435 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $3,031 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,675 |
| 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 | $3,385 |
| Insurance | $3,213 |
| All other expenses | $8,639 |
| Total functional expenses | $1,123,878 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $114,666 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $5,121 |
| Net Land, buildings, and equipment | $1,876 |
| Investments—publicly traded securities | $3,961,045 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,000 |
| Total assets | $4,083,708 |
| Accounts payable and accrued expenses | $21,602 |
| 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 | $0 |
| Total liabilities | $21,602 |
| Net assets without donor restrictions | $4,062,106 |
| Net assets with donor restrictions | $0 |
| 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 | $4,083,708 |
Grants Awarded
Over the last fiscal year, Martin W Richard Charitable has awarded $741,244 in support to 17 organizations.
| Grant Recipient | Amount |
|---|---|
Boston, MA PURPOSE: UNRESTRICTED | $250,000 |
Dorchester, MA PURPOSE: TO MAKE A POSITIVE IMPACT ON YOUTH AND THEIR FAMILIES WITHIN THE COMMUNITY. | $235,000 |
Dorchester, MA PURPOSE: UNRESTRICTED | $40,000 |
Boston, MA PURPOSE: UNRESTRICTED | $30,000 |
Dorchester, MA PURPOSE: UNRESTRICTED | $25,000 |
Los Angeles, CA PURPOSE: TO PROVIDE SPORTS INSTRUCTION TO ADULTS AND YOUTH LIVING WITH PHYSICAL AND COGNITIVE DISABILITIES. | $25,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Martin W Richard Charitable has recieved totaling $82,775.
| Awarding Organization | Amount |
|---|---|
Boston Bruins Charitable Foundation Inc Boston, MA PURPOSE: COMMUNITY SUPPORT | $67,675 |
Rodman For Kids Inc Foxborough, MA PURPOSE: TO BENEFIT THE ORGANIZATION AND DISADVANTAGED YOUTHS | $10,000 |
Ayco Charitable Foundation Cohoes, NY PURPOSE: COMMUNITY & HUMAN SERVICES | $5,100 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Partnership Schools New York, NY | $64,379,139 | $24,282,663 |
Royal College Of Art Usa Inc New York, NY | $1,933,182 | $14,916,047 |
Imago Dei Fund Boston, MA | $57,020,766 | $29,637,241 |
Boston Charitable Trust Fund Boston, MA | $1,173,216 | $4,494,143 |
Nfa Foundation Inc Norwich, CT | $77,129,817 | $5,415,738 |
American Friends Of B Nai Levy Foundation Brooklyn, NY | $493,786 | $13,431,000 |
Rf Catalytic Capital Inc New York, NY | $241,603,034 | $246,273,218 |
Freedom Fund Brooklyn, NY | $51,719,352 | $51,201,158 |
Provision Ministry Inc Westborough, MA | $833,220 | $12,247,682 |
Student Leadership Network Inc New York, NY | $11,626,545 | $12,224,104 |
The Good Nation Foundation Inc New York, NY | $2,105,948 | $9,558,970 |
New York Times Neediest Cases Fund New York, NY | $66,331,518 | $11,554,497 |