Melrose Cooperative Bank Foundation
- Assets
- $2.3m
- Revenue
- $90.6k
- Investments
- $2.2m
- Employees
- 0
- Location
- Melrose, MA
- Founding
- 09/2016
- Data as of
- 12/2022
- EIN
- 46-5490603
Organization Overview
Melrose Cooperative Bank Foundation is located in Melrose, MA. The organization was established in 2016. 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. Melrose Cooperative 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.
Since 2020, Melrose Cooperative Bank Foundation has awarded 71 individual grants totaling $324,200. 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 |
|---|---|---|---|
Elizabeth W Mcnelis Director | 1 | $0 | |
James Oosterman Secretary & Director | 1 | $0 | |
Stephen Anderson Director | 1 | $0 | |
Alan Whitney Director | 1 | $0 | |
Candy Brower Director | 1 | $0 | |
Frank Giso III Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $5,478 |
| Dividends & Interest | $95,161 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$10,031 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $11,920 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $90,608 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $851 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $238 |
| Printing and publications | $0 |
| Other expenses | $1,266 |
| Total operating and administrative expenses | $17,828 |
| Contributions, gifts, grants paid | $111,000 |
| Total expenses and disbursements | $128,828 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $74,594 |
| 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 | $2,301,090 |
| 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, Melrose Cooperative Bank Foundation has awarded $111,000 in support to 22 organizations.
| Grant Recipient | Amount |
|---|---|
Melrose, MA PURPOSE: GENERAL OPERATINGSUPPORT | $15,000 |
THE FOOD DRIVE PURPOSE: GENERAL OPERATINGSUPPORT | $15,000 |
Reading, MA PURPOSE: GENERAL OPERATINGSUPPORT | $12,000 |
Melrose, MA PURPOSE: GENERAL OPERATINGSUPPORT | $10,000 |
Melrose, MA PURPOSE: GENERAL OPERATINGSUPPORT | $10,000 |
Malden, MA PURPOSE: GENERAL OPERATINGSUPPORT | $6,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
S & G Foundation albany, NY | $1,180,089,159 | $294,936,683 |
Steven & Alexandra Cohen Foundation Inc Stamford, CT | $524,605,658 | $98,007,018 |
Starr Foundation New York, NY | $1,351,331,495 | $187,314,215 |
Robertson Foundation New York, NY | $308,129,047 | $104,540,927 |
William Randolph Hearst Foundation New York, NY | $0 | $92,096,829 |
Foundation For A Just Society New York, NY | $0 | $262,120,919 |
Surdna Foundation Inc New York, NY | $0 | $71,392,126 |
Carson Fam Charitable Tr New York, NY | $302,357,968 | $144,716,166 |
Blavatnik Family Foundation 2020 New York, NY | $0 | $14,146 |
Henry Luce Foundation Inc New York, NY | $1,226,277,880 | $84,818,070 |
Paul E Singer Foundation New York, NY | $412,018,579 | $19,273,091 |
Bernard And Anne Spitzer Charitable Tr New York, NY | $0 | $17,565,686 |