Algar Foundation
- Assets
- $12.5m
- Revenue
- $767.7k
- Investments
- $12.0m
- Employees
- 0
- Location
- Boston, MA
- Founding
- 08/2018
- Data as of
- 12/2022
- EIN
- 82-3859833
Organization Overview
Algar Foundation is located in Boston, MA. The organization was established in 2018. 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. Algar 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 12/2022, Algar Foundation generated $767.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (30.6%) each year. All expenses for the organization totaled $775.9k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Algar Foundation has awarded 148 individual grants totaling $2,989,001. 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 |
|---|---|---|---|
Diane Garthwaite President | 0.5 | $0 | |
A Alexander Ridley Treasurer | 0.5 | $0 | |
Colin Brennan Trustee | 0.5 | $0 | |
Darcy Brennan Poor Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $89 |
| Dividends & Interest | $322,864 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $444,784 |
| Capital Gain Net Income | $444,784 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $767,737 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $13,439 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $877 |
| Total operating and administrative expenses | $113,907 |
| Contributions, gifts, grants paid | $662,000 |
| Total expenses and disbursements | $775,907 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $260,843 |
| Savings and temporary cash investments | $318,434 |
| 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 | $11,960,182 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $12,549,289 |
| 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, Algar Foundation has awarded $662,000 in support to 33 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN CIVIL LIBERTIES UNION PURPOSE: GENERAL OPERATING SUPPORT | $2,000 |
AMERICAN CIVIL LIBERTIES UNION OF MAINE PURPOSE: GENERAL OPERATING SUPPORT | $5,000 |
AMERICAN CIVIL LIBERTIES UNION OF MAINE PURPOSE: ALISON BEYEA EDUCATION EQUITY AND JUVENILE JUSTICE FUND | $10,000 |
BREAKWATER LEARNING PURPOSE: GENERAL OPERATING SUPPORT | $20,000 |
BROOKLINE ARTS CENTER PURPOSE: GENERAL OPERATING SUPPORT | $10,000 |
CAMBRIDGE SCHOOL OF WESTON PURPOSE: GENERAL OPERATING SUPPORT | $250,000 |