Chestnut Fund
- Assets
- $52.7m
- Revenue
- $3.5m
- Investments
- $49.5m
- Employees
- 0
- Location
- Boston, MA
- Founding
- 06/2015
- Data as of
- 12/2022
- EIN
- 47-7017184
Organization Overview
Chestnut Fund is located in Boston, MA. The organization was established in 2015. 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. Chestnut Fund 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 12/2022, Chestnut Fund generated $3.5m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $6.1m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Chestnut Fund has awarded 91 individual grants totaling $16,011,185. 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
NONE - GRANT MAKING ORGANIZATION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jane Stein Trustee | 2 | $0 | |
Adam Stein Trustee | 2 | $0 | |
Gerda Stein Trustee | 2 | $0 | |
Alan Rottenberg Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mott Philanthropic | 12/30/22 | $286,203 |
Goulston & Storrs | 12/30/22 | $148,636 |
Cambridge Associates | 12/30/22 | $114,841 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,540,720 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,894,830 |
| Capital Gain Net Income | $1,894,830 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $69,864 |
| Total Revenue | $3,505,414 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $181,499 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $326,524 |
| Total operating and administrative expenses | $1,163,070 |
| Contributions, gifts, grants paid | $4,926,685 |
| Total expenses and disbursements | $6,089,755 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,860 |
| Savings and temporary cash investments | $3,207,180 |
| 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 | $41,141,163 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $52,696,026 |
| 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 | $2,296 |
| Total liabilities | $2,296 |
Grants Awarded
Over the last fiscal year, Chestnut Fund has awarded $4,926,685 in support to 25 organizations.
| Grant Recipient | Amount |
|---|---|
BALLOT INITIATIVE STRATEGY CENTER FOUNDATION PURPOSE: GENERAL OPERATING SUPPORT | $30,000 |
CENTER ON BUDGET AND POLICY PRIORITIES PURPOSE: GENERAL OPERATING SUPPORT | $540,000 |
COMMON GOOD IOWA PURPOSE: GENERAL OPERATING SUPPORT | $75,000 |
CONNECTICUT VOICES FOR CHILDREN PURPOSE: GENERAL OPERATING SUPPORT | $75,000 |
FAITH IN ACTION PURPOSE: GENERAL OPERATING SUPPORT | $75,000 |
HOPEWELL FUND PURPOSE: THE MOVEMENT INSTITUTE | $30,000 |