Osterman Family Foundation
- Assets
- $6.0m
- Revenue
- $157.5k
- Investments
- $5.7m
- Employees
- 0
- Location
- Whitinsville, MA
- Founding
- 07/2014
- Data as of
- 12/2023
- EIN
- 46-1534293
Organization Overview
Osterman Family Foundation is located in Whitinsville, MA. The organization was established in 2014. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., 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. Osterman 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 12/2023, Osterman Family Foundation generated $157.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (8.0%) each year. All expenses for the organization totaled $320.4k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (2.6%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Osterman Family Foundation has awarded 76 individual grants totaling $1,570,362. 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 |
|---|---|---|---|
Ernest Osterman Trustee | 10 | $0 | |
Vincent Osterman Trustee | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,100 |
| Interest on Savings | $31,138 |
| Dividends & Interest | $147,583 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$23,359 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $157,462 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,319 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $20,389 |
| Contributions, gifts, grants paid | $300,000 |
| Total expenses and disbursements | $320,389 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $333,974 |
| 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 | $5,987,382 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $300,000 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $5,613 |
| Total liabilities | $305,613 |
Grants Awarded
Over the last fiscal year, Osterman Family Foundation has awarded $300,000 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
JEANNE GEIGER CRISIS CENTER INC PURPOSE: DOMESTIC VIOLENCE HIGH RISK TEAM TRAINING INITIATIVE PROGRAM EXPANSION | $27,000 |
OPEN TABLE INC PURPOSE: MOBILE FOOD PROGRAM | $40,000 |
CENTRAL CITY BOXING & BARBELL INC PURPOSE: YOUTH DEVELOPMENT SPRINGFIELD COLLEGE PARTNERSHIP PROGRAM | $30,000 |
WOUNDED WARRIOR PROJECT INC PURPOSE: EMERGENCY FINANCIAL AID NORTHEAST REGION PROGRAM | $25,000 |
OUR NEIGHBORS TABLE PURPOSE: SEACOAST FOOD HUB - FREE GROCERY PROGRAM | $25,000 |
THE CARE CENTER PURPOSE: BARD MICRO-COLLEGE HOLYOKE STUDENT OPPORTUNITIES PROGRAM | $25,000 |