Belmont Savings Bank Foundation
- Assets
- $6.7m
- Revenue
- $261.7k
- Investments
- $6.4m
- Employees
- 0
- Location
- Belmont, MA
- Founding
- 07/2014
- Data as of
- 12/2021
- EIN
- 45-3029284
Organization Overview
Belmont Savings Bank Foundation is located in Belmont, MA. The organization was established in 2014. 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. Belmont Savings Bank Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
M Patricia Brusch Treasurer | 0.5 | $2,000 | |
Robert J Morrissey Chairman | 0.5 | $2,000 | |
S Warren Farrell Director | 0.5 | $2,000 | |
Hal R Tovin Secretary | 0.5 | $2,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $14 |
| Dividends & Interest | $261,696 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $261,710 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $8,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $75,668 |
| Taxes | $3,204 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $3,880 |
| Total operating and administrative expenses | $93,002 |
| Contributions, gifts, grants paid | $41,500 |
| Total expenses and disbursements | $134,502 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $326,871 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $6,737,081 |
| 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 | $1,681,500 |
| Other liabilities | $0 |
| Total liabilities | $1,681,500 |
Grants Awarded
Over the last fiscal year, Belmont Savings Bank Foundation has awarded $41,500 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
Belmont, MA PURPOSE: MUSIC STORYTELLING PROGRAM | $12,000 |
Belmont, MA PURPOSE: FOOD ASSISTANCE PROGRAM | $10,000 |
Belmont, MA PURPOSE: EXCELLENCE IN LEARNING | $10,000 |
Lincoln, MA PURPOSE: BELMONT HABITAT EDUCATION CENTER - GOAT PEN ENCLOSURE | $6,500 |
Belmont, MA PURPOSE: SENIOR SEND-OFF PARTY | $3,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Druckenmiller Foundation New York, NY | $1,579,806,367 | $402,828,458 |
Rockefeller Brothers Fund Inc New York, NY | $1,654,004,790 | $94,665,303 |
Adelson Family Foundation Needham, MA | $5,626,414 | $49,822,227 |
Anna Maria And Stephen Kellen Foundation Inc New York, NY | $1,287,407,560 | $57,361,611 |
The Wallace Foundation New York, NY | $1,815,949,042 | $114,535,478 |
Stephen A Schwarzman Foundation New York, NY | $124,156,635 | $61,557,254 |
Pepsico Foundation Inc Purchase, NY | $25,033,678 | $1,734,936 |
Foundation Mireille And James Levy Usa New York, NY | $36,878,233 | $277,701 |
The Bat Hanadiv Foundation No 3 New York, NY | $1,717,297,999 | $245,079,951 |
Big East Conference Inc New York, NY | $25,429,264 | $59,716,596 |
Bristol-Myers Squibb Foundation Inc New York, NY | $146,629,708 | $46,784 |
Cohen Veterans Network Inc Stamford, CT | $21,771,420 | $47,396,071 |