Melrose Cooperative Bank Foundation
- Assets
- $2.4m
- Revenue
- $105.4k
- Investments
- $2.3m
- Employees
- 0
- Location
- Melrose, MA
- Founding
- 09/2016
- Data as of
- 12/2023
- 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.
For the year ending 12/2023, Melrose Cooperative Bank Foundation generated $105.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (5.6%) each year. All expenses for the organization totaled $133.0k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Melrose Cooperative Bank Foundation has awarded 100 individual grants totaling $450,500. 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 |
|---|---|---|---|
Candy Brower Director | 1 | $0 | |
Stephen Anderson Director | 1 | $0 | |
Elizabeth W Mcnelis Director | 1 | $0 | |
F Peter Waystack Director | 1 | $0 | |
Alan Whitney Director | 1 | $0 | |
James Oosterman Secretary & Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $4,501 |
| Dividends & Interest | $89,214 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $9,168 |
| Capital Gain Net Income | $9,168 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $2,550 |
| Total Revenue | $105,433 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,364 |
| Total operating and administrative expenses | $6,716 |
| Contributions, gifts, grants paid | $126,300 |
| Total expenses and disbursements | $133,016 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $117,724 |
| 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 | $2,416,323 |
| 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 $126,300 in support to 29 organizations.
| Grant Recipient | Amount |
|---|---|
BABY CAFE USA INC PURPOSE: GENERAL OPERATINGSUPPORT | $1,000 |
FILMMAKERS COLLABERATIVE INC PURPOSE: GENERAL OPERATINGSUPPORT | $1,000 |
COMMUNITY COALITION OF MELROSE INC PURPOSE: GENERAL OPERATINGSUPPORT | $5,600 |
GREATER BOSTON STAGE COMPANY PURPOSE: GENERAL OPERATINGSUPPORT | $13,500 |
KAPLAN FAMILY HOSPICE HOUSE CARE DIMENSIONS PURPOSE: GENERAL OPERATINGSUPPORT | $1,000 |
FRIENDS OF THE MIDDLESEX FELLS RESERVATION PURPOSE: GENERAL OPERATINGSUPPORT | $5,000 |