Bay State Savings Charitable Foundation Inc
- Assets
- $109.5k
- Revenue
- $31.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Worcester, MA
- Founding
- 05/2002
- Data as of
- 12/2022
- EIN
- 80-0038576
Organization Overview
Bay State Savings Charitable Foundation Inc is located in Worcester, MA. The organization was established in 2002. 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. Bay State Savings Charitable 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 12/2022, Bay State Savings Charitable Foundation Inc generated $31.3k 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 (5.2%) each year. All expenses for the organization totaled $18.6k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (7.9%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
George F Sullivan Jr Director | 1 | $0 | |
Cheri E Carty Treasurer | 1 | $0 | |
Diane Giampa Clerk | 1 | $0 | |
Peter B Alden President | 1 | $0 | |
John E Graham Director | 1 | $0 | |
Jay Z Aframe Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $31,050 |
| Interest on Savings | $277 |
| 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 | $31,327 |
| 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 | $35 |
| Total operating and administrative expenses | $1,085 |
| Contributions, gifts, grants paid | $17,500 |
| Total expenses and disbursements | $18,585 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $30,532 |
| Savings and temporary cash investments | $78,927 |
| 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 | $109,459 |
| 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, Bay State Savings Charitable Foundation Inc has awarded $17,500 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
QUINSIGAMOND ROWING ASSOCIATION PURPOSE: GENERAL OPERATING SUPPORT | $2,000 |
Worcester, MA PURPOSE: GENERAL OPERATING SUPPORT | $2,000 |
Westborough, MA PURPOSE: GENERAL OPERATING SUPPORT | $2,000 |
North Grafton, MA PURPOSE: GENERAL OPERATING SUPPORT | $2,000 |
Rutland, MA PURPOSE: GENERAL OPERATING SUPPORT | $2,000 |
Northbridge, MA PURPOSE: GENERAL OPERATING SUPPORT | $2,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Tr Ua 06162003 New York, NY | $24,153,189 | $17,543,623 |
Price Family Foundation Inc New York, NY | $4,922,654 | $6,599,359 |
Hunt Street Fund Inc Needham, MA | $102,244,956 | $9,516,120 |
Virginia B Toulmin Charitable Foundation Iii 20-102080246164 New York, NY | $0 | $3,507,979 |
Thomas W Haas Foundation Greenland, NH | $135,774,612 | $23,898,654 |
Margaret A Nagel Tr Uw Art 2 Jericho, NY | $960,283 | $58,879 |
James L Vincent Foundation Boston, MA | $11,098,257 | $1,513,039 |
Lavelle Fund For The Blind Inc New York, NY | $163,250,000 | $53,286,253 |
Robert F & Mary P Hastings Foundation Inc East Amherst, NY | $201,145 | $300,300 |
Chesed Foundation Of America New York, NY | $261,423,843 | $7,176,271 |
Belvedere Charitable Foundation New York, NY | $6,000,444 | $12,756,802 |
The Grossman Family Foundation Cos Cob, CT | $140,113,231 | $7,972,359 |