The Boustan Charitable Foundation
- Assets
- $2.6m
- Revenue
- $216.0k
- Investments
- $1.3m
- Employees
- 0
- Location
- Arlington, MA
- Founding
- Data as of
- 12/2022
- EIN
- 87-4003533
Organization Overview
The Boustan Charitable Foundation is located in Arlington, MA. 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. Boustan Charitable 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, Boustan Charitable Foundation generated $216.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (72.5%) each year.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
WILL PROVIDE GRANTS AND SUPPORT TO ORGANIZATIONS FOR CHARITABLE, EDUCATIONAL OR SCIENTIFIC PURPOSES, INCLUDING FOREIGN CHARITABLE ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Izhar Armony Trustee | 4 | $0 | |
Noamit Armony Erel Trustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,970,622 |
| Interest on Savings | $0 |
| Dividends & Interest | $25,233 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$1,779,816 |
| Capital Gain Net Income | $2,944,415 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $3 |
| Total Revenue | $216,042 |
| 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 | $53 |
| Total operating and administrative expenses | $87,611 |
| Contributions, gifts, grants paid | $365,000 |
| Total expenses and disbursements | $452,611 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $144,894 |
| 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 | $16,268 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $1,177,450 |
| Total assets | $2,628,860 |
| 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, The Boustan Charitable Foundation has awarded $365,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
AJEEC NISPED PURPOSE: THE FUNDS WILL BE USED FOR THE PROJECT "GAP YEAR HEBREW COURSES FOR THE ARAB COMMINITY". | $100,000 |
THE ACADEMIC COLLEGE OF TEL AVIV JAFFA PURPOSE: SCHOLARSHIPS FOR THE ARAB POPULATION AND TERRA SANTA EDUCATIONAL PROJECTS. | $65,000 |
HASOUB PURPOSE: THE FUNDS WILL BE USED FOR THE PROJECT "CAPACITY BUILDING FOR HASOUB". | $100,000 |
DESERT STARS PURPOSE: THE FUNDS WILL BE USED FOR EMPLOYMENT ASSISTANCE FOR ALUMNI OF DESERT STARS LEADERSHIP PROGRAMS. | $100,000 |