Massmutual Foundation Inc
- Assets
- $8.6m
- Revenue
- $820.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Springfield, MA
- Founding
- 04/2016
- Data as of
- 12/2023
- EIN
- 47-4967720
Organization Overview
Massmutual Foundation Inc is located in Springfield, MA. The organization was established in 2016. According to its NTEE Classification (T21) the organization is classified as: Corporate 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. Massmutual Foundation Inc 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, Massmutual Foundation Inc generated $820.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (35.0%) each year. All expenses for the organization totaled $27.6m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Massmutual Foundation Inc has awarded 778 individual grants totaling $146,221,428. 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 |
|---|---|---|---|
Dennis Duquette President/ceo | 3 | $0 | |
James Paul Puhala III Clerk | 2 | $0 | |
Alison Mathias Vice President | 3 | $0 | |
Brian Funicane Assistant Treasurer | 2 | $0 | |
Noell Tuesta Associate Clerk | 2 | $0 | |
Christine Gouin Associate Clerk | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hungry Heart Media (Wondros) | 12/30/23 | $272,517 |
Mission Measurement | 12/30/23 | $100,000 |
Bbc Global News Ltd | 12/30/23 | $103,301 |
Wehero Llc | 12/30/23 | $100,000 |
Feeding America | 12/30/23 | $75,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $820,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| 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 | $820,000 |
| 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 | $17,728,000 |
| Total operating and administrative expenses | $17,746,000 |
| Contributions, gifts, grants paid | $9,817,000 |
| Total expenses and disbursements | $27,563,000 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $438,000 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $8,116,000 |
| 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 | $8,554,000 |
| Accounts payable and accrued expenses | $977,000 |
| Grants payable | $10,598,000 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $11,575,000 |
Grants Awarded
Over the last fiscal year, Massmutual Foundation Inc has awarded $23,449,816 in support to 113 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF MASSACHUSETTS AMHERST FOUNDATION INC PURPOSE: EXEMPT PURPOSE | $1,500,000 |
BAYSTATE MEDICAL CENTER INC PURPOSE: EXEMPT PURPOSE | $1,050,000 |
BOSTON MEDICAL CENTER CORPORATION PURPOSE: EXEMPT PURPOSE | $894,028 |
NEW NORTH CITIZENS' COUNCIL PURPOSE: EXEMPT PURPOSE | $772,000 |
REVITALIZE COMMUNITY DEVELOPMENT CORPORATION PURPOSE: EXEMPT PURPOSE | $600,000 |
THE FOOD BANK OF WESTERN MASSACHUSETTS INC PURPOSE: EXEMPT PURPOSE | $595,000 |