EASTERN BANK CHARITABLE FOUNDATION: Form 990PF, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- EASTERN BANK CHARITABLE FOUNDATION (EIN 22-3317340)
- Tax period
- 2024-01-01 to 2024-12-31
- Filed
- 2025-04-23
- IRS object ID
- 202501139349100310
- Schema version
- 2024v5.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990-PF
- Schedule B
- Accounting Fees Schedule
- Depreciation Schedule
- Investments Corp Bonds Schedule
- Investments Corp Stock Schedule
- Investments Other Schedule2
- Legal Fees Schedule
- Other Expenses Schedule
- Other Income Schedule2
- Other Increases Schedule
- Other Professional Fees Schedule
- Taxes Schedule
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2025-04-23T08:42:55-05:00 | ReturnTs |
| Tax Period End | 2024-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Wolf & Company PC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 255 State Street | AddressLine1Txt |
| City | Boston | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02109 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990PF | ReturnTypeCd |
| Tax Period Begin | 2024-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 223317340 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Eastern Bank Foundation | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| In Care Of | % EASTERN BANK FOUNDATION | InCareOfNm |
| Business Name Control | EAST | BusinessNameControlTxt |
| Phone | 8003278376 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 195 Market Street EP 5-01 | AddressLine1Txt |
| City | Lynn | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01901 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Nancy Huntington Stager | PersonNm |
| Person Title | President & CEO | PersonTitleTxt |
| Phone | 8003278376 | PhoneNum |
| Signature | 2025-05-15 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (true) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Karen Ng EA | PreparerPersonNm |
| PTIN | P01067482 | PTIN |
| Phone | 6174399700 | PhoneNum |
| Preparation | 2025-04-17 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2024 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990-PF IRS990PF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| FMV Assets EOY | $249,698,317 | FMVAssetsEOYAmt |
| Method Of Accounting Other | Yes (X) | MethodOfAccountingOtherInd |
Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contri Rcvd Rev And Expnss | $21,475 | ContriRcvdRevAndExpnssAmt |
| Interest On Sav Rev And Expnss | $5,634,533 | InterestOnSavRevAndExpnssAmt |
| Interest On Sav Net Invst Incm | $5,634,533 | InterestOnSavNetInvstIncmAmt |
| Interest On Savings Adj Net Incm | $0 | InterestOnSavingsAdjNetIncmAmt |
| Net Gain Sale Ast Rev And Expnss | $6,987,451 | NetGainSaleAstRevAndExpnssAmt |
| Gross Sales Price | $38,836,064 | GrossSalesPriceAmt |
| Cap Gain Net Incm Net Invst Incm | $6,987,451 | CapGainNetIncmNetInvstIncmAmt |
| Other Income Rev And Expnss | $90,000 | OtherIncomeRevAndExpnssAmt |
| Other Income Net Invst Incm | $0 | OtherIncomeNetInvstIncmAmt |
| Other Income Adj Net Incm | $0 | OtherIncomeAdjNetIncmAmt |
| Total Rev And Expnss | $12,733,459 | TotalRevAndExpnssAmt |
| Total Net Invst Incm | $12,621,984 | TotalNetInvstIncmAmt |
| Total Adj Net Incm | $0 | TotalAdjNetIncmAmt |
| Comp Ofcr Dir Trst Rev And Expnss | $0 | CompOfcrDirTrstRevAndExpnssAmt |
| Legal Fees Rev And Expnss | $15,345 | LegalFeesRevAndExpnssAmt |
| Legal Fees Net Invst Incm | $0 | LegalFeesNetInvstIncmAmt |
| Legal Fees Adj Net Incm | $0 | LegalFeesAdjNetIncmAmt |
| Legal Fees Dsbrs Chrtbl | $15,345 | LegalFeesDsbrsChrtblAmt |
| Accounting Fees Rev And Expnss | $56,480 | AccountingFeesRevAndExpnssAmt |
| Accounting Fees Net Invst Incm | $0 | AccountingFeesNetInvstIncmAmt |
| Accounting Fees Adj Net Incm | $0 | AccountingFeesAdjNetIncmAmt |
| Accounting Fees Chrtbl Prps | $56,480 | AccountingFeesChrtblPrpsAmt |
| Other Prof Fees Rev And Expnss | $3,892,607 | OtherProfFeesRevAndExpnssAmt |
| Other Prof Fees Net Invst Incm | $593,393 | OtherProfFeesNetInvstIncmAmt |
| Other Prof Fees Adj Net Incm | $0 | OtherProfFeesAdjNetIncmAmt |
| Other Prof Fees Dsbrs Chrtbl | $3,299,214 | OtherProfFeesDsbrsChrtblAmt |
| Taxes Rev And Expnss | $135,000 | TaxesRevAndExpnssAmt |
| Taxes Net Invst Incm | $0 | TaxesNetInvstIncmAmt |
| Taxes Adj Net Incm | $0 | TaxesAdjNetIncmAmt |
| Taxes Dsbrs Chrtbl | $0 | TaxesDsbrsChrtblAmt |
| Other Expenses Rev And Expnss | $781,184 | OtherExpensesRevAndExpnssAmt |
| Other Expenses Net Invst Incm | $0 | OtherExpensesNetInvstIncmAmt |
| Other Expenses Adj Net Incm | $0 | OtherExpensesAdjNetIncmAmt |
| Other Expenses Dsbrs Chrtbl | $781,184 | OtherExpensesDsbrsChrtblAmt |
| Tot Opr Expenses Rev And Expnss | $4,880,616 | TotOprExpensesRevAndExpnssAmt |
| Tot Opr Expenses Net Invst Incm | $593,393 | TotOprExpensesNetInvstIncmAmt |
| Tot Opr Expenses Adj Net Incm | $0 | TotOprExpensesAdjNetIncmAmt |
| Tot Opr Expenses Dsbrs Chrtbl | $4,152,223 | TotOprExpensesDsbrsChrtblAmt |
| Contri Paid Rev And Expnss | $14,699,750 | ContriPaidRevAndExpnssAmt |
| Contri Paid Dsbrs Chrtbl | $14,699,750 | ContriPaidDsbrsChrtblAmt |
| Total Expenses Rev And Expnss | $19,580,366 | TotalExpensesRevAndExpnssAmt |
| Total Expenses Net Invst Incm | $593,393 | TotalExpensesNetInvstIncmAmt |
| Total Expenses Adj Net Incm | $0 | TotalExpensesAdjNetIncmAmt |
| Total Expenses Dsbrs Chrtbl | $18,851,973 | TotalExpensesDsbrsChrtblAmt |
| Excess Revenue Over Expenses | -$6,846,907 | ExcessRevenueOverExpensesAmt |
| Net Investment Income | $12,028,591 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $0 | AdjustedNetIncomeAmt |
Form990 PF Balance Sheets Form990PFBalanceSheetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cash BOY | $2,675,362 | CashBOYAmt |
| Cash EOY | $1,758,632 | CashEOYAmt |
| Cash EOYFMV | $1,758,632 | CashEOYFMVAmt |
| Corporate Stock BOY | $198,928,886 | CorporateStockBOYAmt |
| Corporate Stock EOY | $225,792,497 | CorporateStockEOYAmt |
| Corporate Stock EOYFMV | $225,792,497 | CorporateStockEOYFMVAmt |
| Corporate Bonds BOY | $22,635,171 | CorporateBondsBOYAmt |
| Corporate Bonds EOY | $21,397,188 | CorporateBondsEOYAmt |
| Corporate Bonds EOYFMV | $21,397,188 | CorporateBondsEOYFMVAmt |
| Other Investments BOY | $625,000 | OtherInvestmentsBOYAmt |
| Other Investments EOY | $750,000 | OtherInvestmentsEOYAmt |
| Other Investments EOYFMV | $750,000 | OtherInvestmentsEOYFMVAmt |
| Total Assets BOY | $224,864,419 | TotalAssetsBOYAmt |
| Total Assets EOY | $249,698,317 | TotalAssetsEOYAmt |
| Total Assets EOYFMV | $249,698,317 | TotalAssetsEOYFMVAmt |
| Total Liabilities BOY | $0 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $0 | TotalLiabilitiesEOYAmt |
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
| No Donor Rstr Net Assests BOY | $224,864,419 | NoDonorRstrNetAssestsBOYAmt |
| No Donor Rstr Net Assests EOY | $249,676,842 | NoDonorRstrNetAssestsEOYAmt |
| Donor Rstr Net Assets BOY | $0 | DonorRstrNetAssetsBOYAmt |
| Donor Rstr Net Assets EOY | $21,475 | DonorRstrNetAssetsEOYAmt |
| Tot Net Ast Or Fund Balances BOY | $224,864,419 | TotNetAstOrFundBalancesBOYAmt |
| Tot Net Ast Or Fund Balances EOY | $249,698,317 | TotNetAstOrFundBalancesEOYAmt |
| Total Liabilities Net Ast BOY | $224,864,419 | TotalLiabilitiesNetAstBOYAmt |
| Total Liabilities Net Ast EOY | $249,698,317 | TotalLiabilitiesNetAstEOYAmt |
Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Net Ast Or Fund Balances BOY | $224,864,419 | TotNetAstOrFundBalancesBOYAmt |
| Excess Revenue Over Expenses | -$6,846,907 | ExcessRevenueOverExpensesAmt |
| Other Increases | $31,680,805 | OtherIncreasesAmt |
| Subtotal | $249,698,317 | SubtotalAmt |
| Tot Net Ast Or Fund Balances EOY | $249,698,317 | TotNetAstOrFundBalancesEOYAmt |
Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail
Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Property | SALES OF INVESTMENTS | PropertyDesc |
| How Acquired | P | HowAcquiredCd |
| Gross Sales Price | $38,836,064 | GrossSalesPriceAmt |
| Cost Or Other Basis | $31,848,613 | CostOrOtherBasisAmt |
| Gain Or Loss | $6,987,451 | GainOrLossAmt |
| Gains Minus Excess Or Losses | $6,987,451 | GainsMinusExcessOrLossesAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Capital Gain Net Income | $6,987,451 | CapitalGainNetIncomeAmt |
Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Income Excise Tax | $167,197 | InvestmentIncomeExciseTaxAmt |
| Subtotal | $167,197 | SubtotalAmt |
| Tax Based On Investment Income | $167,197 | TaxBasedOnInvestmentIncomeAmt |
| Estimated Plus Ovpmt Incm Tx | $151,319 | EstimatedPlusOvpmtIncmTxAmt |
| Exempt Frgn Org Tax Wthld At Srce | $0 | ExemptFrgnOrgTaxWthldAtSrceAmt |
| Total Payments And Credits | $151,319 | TotalPaymentsAndCreditsAmt |
| Form2220 Attached | Yes (X) | Form2220AttachedInd |
| Es Penalty | $0 | EsPenaltyAmt |
| Tax Due | $15,878 | TaxDueAmt |
Statements Regarding Acty StatementsRegardingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Legislative Political Acty | false | LegislativePoliticalActyInd |
| More Than100 Spent | false | MoreThan100SpentInd |
| Form1120 POL Filed | false | Form1120POLFiledInd |
| Activities Not Previously Rpt | false | ActivitiesNotPreviouslyRptInd |
| Changes To Articles Or Bylaws | false | ChangesToArticlesOrBylawsInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Organization Dissolved Etc | false | OrganizationDissolvedEtcInd |
| Section508e Rqr Satisfied | Yes (true) | Section508eRqrSatisfiedInd |
| At Least5000 In Assets | Yes (true) | AtLeast5000InAssetsInd |
| Org Report Or Register State | MA | OrgReportOrRegisterStateCd |
| Form990 PF Filed With Atty Gen | Yes (true) | Form990PFFiledWithAttyGenInd |
| Private Operating Foundation | false | PrivateOperatingFoundationInd |
| New Substantial Contributors | false | NewSubstantialContributorsInd |
| Own Controlled Entity | false | OwnControlledEntityInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Comply With Public Insp Rqr | Yes (true) | ComplyWithPublicInspRqrInd |
| Website Address | www.easternbank.com/foundation | WebsiteAddressTxt |
Persons With Books Name PersonsWithBooksName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | EASTERN BANK FOUNDATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 8003278376 | PhoneNum |
Location Of Books US Address LocationOfBooksUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 195 MARKET ST EP 5-01 | AddressLine1Txt |
| City | Lynn | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01901 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Foreign Accounts Question | false | ForeignAccountsQuestionInd |
Statements Regarding Acty4720 StatementsRegardingActy4720Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sale Or Exch Disqualified Prsn | false | SaleOrExchDisqualifiedPrsnInd |
| Brrw Or Lend Disqualified Prsn | false | BrrwOrLendDisqualifiedPrsnInd |
| Furn Goods Disqualified Prsn | Yes (true) | FurnGoodsDisqualifiedPrsnInd |
| Pay Comp Disqualified Prsn | Yes (true) | PayCompDisqualifiedPrsnInd |
| Transfer Ast Disqualified Prsn | false | TransferAstDisqualifiedPrsnInd |
| Payment To Government Official | false | PaymentToGovernmentOfficialInd |
| Acts Fail To Qlfy As Exceptions | false | ActsFailToQlfyAsExceptionsInd |
| Uncorrected Prior Acts | false | UncorrectedPriorActsInd |
| Undistributed Income PY | false | UndistributedIncomePYInd |
| Business Holdings | Yes (true) | BusinessHoldingsInd |
| Excess Business Holdings | false | ExcessBusinessHoldingsInd |
| Jeopardy Investments | false | JeopardyInvestmentsInd |
| Uncorrected PY Jeopardy Invst | false | UncorrectedPYJeopardyInvstInd |
| Influence Legislation | false | InfluenceLegislationInd |
| Influence Election | false | InfluenceElectionInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Noncharitable Purpose | false | NoncharitablePurposeInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp
Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (8 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | TitleTitleTxt | Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt | CompensationCompensationAmt | Employee Benefit ProgramEmployeeBenefitProgramAmt | Expense Account Other AllwncExpenseAccountOtherAllwncAmt |
|---|---|---|---|---|---|---|---|---|
| Bari A Harlam | ||||||||
| 195 Market Street EP 5-01 | Lynn | MA | 01901 | Trustee | 1.0 | $0 | $0 | $0 |
| Carol N Fulp | ||||||||
| 195 Market Street EP 5-01 | Lynn | MA | 01901 | Trustee | 1.0 | $0 | $0 | $0 |
| Deborah C Jackson | ||||||||
| 195 Market Street EP 5-01 | Lynn | MA | 01901 | Trustee | 1.0 | $0 | $0 | $0 |
| Robert F Rivers | ||||||||
| 195 Market Street EP 5-01 | Lynn | MA | 01901 | trustee | 1.0 | $0 | $0 | $0 |
| James Rudolph | ||||||||
| 195 Market Street EP 5-01 | Lynn | MA | 01901 | Trustee | 1.0 | $0 | $0 | $0 |
| James Canales | ||||||||
| 195 Market Street EP 5-01 | Lynn | MA | 01901 | trustee | 1.0 | $0 | $0 | $0 |
| Denis Sheahan | ||||||||
| 195 Market Street EP 5-01 | Lynn | MA | 01901 | 0 | 1.0 | $0 | $0 | $0 |
| Cathy Schmidt | ||||||||
| 195 Market Street EP 5-01 | Lynn | MA | 01901 | 0 | 1.0 | $0 | $0 | $0 |
Compensation Of Hghst Pd Cntrct CompensationOfHghstPdCntrctGrp (4 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Service TypeServiceTypeTxt | CompensationCompensationAmt |
|---|---|---|---|---|---|
| EASTERN BANK | |||||
| 125 High Street | BOSTON | MA | 02110 | ADMIN FEES/ADVISORY | $3,864,771 |
| MICHAEL P WASSERMAN INC | |||||
| 800 Boylston Street PO Box 990246 | BOSTON | MA | 02199 | SPECIAL EVENT | $343,749 |
| LEVY PREMIUM FOOD SERVICES | |||||
| 980 NORTH MICHIGAN AVE | CHICAGO | IL | 606114501 | FOOD AND BEVERAGE | $130,235 |
| SUTHERLAND VIDEO PRODUCTIONS | |||||
| 15 BAYVIEW RD | EAST SANDWICH | MA | 02537 | SPECIAL EVENT | $96,172 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Summary Of Direct Chrtbl Acty | SummaryOfDirectChrtblActyGrp |
Sum Of Program Related Invst SumOfProgramRelatedInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description1 | INVESTMENT IN ONE PERCENT FOR AMERICA INC., TO BE USED SOLELY FOR LOW AND MODERATE INCOME IMMIGRANTS IN MASSACHUSETTS, NEW HAMPSHIRE, AND RHODE ISLAND. | Description1Txt |
| Expenses1 | $125,000 | Expenses1Amt |
| Total | $125,000 | TotalAmt |
Minimum Investment Return MinimumInvestmentReturnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Average Monthly FMV Of Sec | $235,664,395 | AverageMonthlyFMVOfSecAmt |
| Average Monthly Cash Balances | $2,026,205 | AverageMonthlyCashBalancesAmt |
| FMV All Other Noncharitable Ast | $0 | FMVAllOtherNoncharitableAstAmt |
| Total FMV Of Unused Assets | $237,690,600 | TotalFMVOfUnusedAssetsAmt |
| Acquisition Indebtedness | $0 | AcquisitionIndebtednessAmt |
| Adjusted Total FMV Of Unused Ast | $237,690,600 | AdjustedTotalFMVOfUnusedAstAmt |
| Cash Deemed Charitable | $3,565,359 | CashDeemedCharitableAmt |
| Net Vl Noncharitable Assets | $234,125,241 | NetVlNoncharitableAssetsAmt |
| Minimum Investment Return | $11,706,262 | MinimumInvestmentReturnAmt |
Distributable Amount DistributableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | $11,706,262 | MinimumInvestmentReturnAmt |
| Tax Based On Investment Income | $167,197 | TaxBasedOnInvestmentIncomeAmt |
| Total Tax | $167,197 | TotalTaxAmt |
| Distributable Before Adj | $11,539,065 | DistributableBeforeAdjAmt |
| Distributable Before Ded | $11,539,065 | DistributableBeforeDedAmt |
| Distributable As Adjusted | $11,539,065 | DistributableAsAdjustedAmt |
PF Qualifying Distributions PFQualifyingDistributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | $18,851,973 | ExpensesAndContributionsAmt |
| Program Related Invst Total | $125,000 | ProgramRelatedInvstTotalAmt |
| Charitable Assets Acquis Paid | $0 | CharitableAssetsAcquisPaidAmt |
| Set Aside Suitability Test | $0 | SetAsideSuitabilityTestAmt |
| Set Aside Cash Distri Test | $0 | SetAsideCashDistriTestAmt |
| Qualifying Distributions | $18,976,973 | QualifyingDistributionsAmt |
Undistributed Income UndistributedIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable As Adjusted | $11,539,065 | DistributableAsAdjustedAmt |
| Prior Year1 | 2022 | PriorYear1Yr |
| Prior Year2 | 2021 | PriorYear2Yr |
| Prior Year3 | 2020 | PriorYear3Yr |
| Excess Distribution Cyov Yr5 | $2,786,079 | ExcessDistributionCyovYr5Amt |
| Excess Distribution Cyov Yr4 | $15,479,590 | ExcessDistributionCyovYr4Amt |
| Excess Distribution Cyov Yr3 | $4,180,925 | ExcessDistributionCyovYr3Amt |
| Excess Distribution Cyov Yr2 | $5,710,057 | ExcessDistributionCyovYr2Amt |
| Excess Distribution Cyov Yr1 | $5,329,985 | ExcessDistributionCyovYr1Amt |
| Total Excess Distribution Cyov | $33,486,636 | TotalExcessDistributionCyovAmt |
| Qualifying Distributions | $18,976,973 | QualifyingDistributionsAmt |
| Applied To Current Year | $11,539,065 | AppliedToCurrentYearAmt |
| Remaining Distri From Corpus | $7,437,908 | RemainingDistriFromCorpusAmt |
| Total Corpus | $40,924,544 | TotalCorpusAmt |
| Undistributed Income CY | $0 | UndistributedIncomeCYAmt |
| Excess Distri Cyov From Yr5 | $2,786,079 | ExcessDistriCyovFromYr5Amt |
| Excess Distri Cyov To Next Yr | $38,138,465 | ExcessDistriCyovToNextYrAmt |
| Excess From Year4 | $15,479,590 | ExcessFromYear4Amt |
| Excess From Year3 | $4,180,925 | ExcessFromYear3Amt |
| Excess From Year2 | $5,710,057 | ExcessFromYear2Amt |
| Excess From Year1 | $5,329,985 | ExcessFromYear1Amt |
| Excess From Current Year | $7,437,908 | ExcessFromCurrentYearAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Private Operating Foundations | PrivateOperatingFoundationsGrp |
Supplementary Information SupplementaryInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributing Manager | NONE | ContributingManagerNm |
| Shareholder Manager | NONE | ShareholderManagerNm |
Application Submission Info ApplicationSubmissionInfoGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient Person | Nancy Huntington Stager | RecipientPersonNm |
Recipient US Address RecipientUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 195 MARKET ST EP 5-01 | AddressLine1Txt |
| City | LYNN | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01901 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient Phone | 7815988908 | RecipientPhoneNum |
| Form And Info And Materials | COMPLETE ON-LINE APPLICATION ONLY | FormAndInfoAndMaterialsTxt |
| Submission Deadlines | NO SPECIFIC SUBMISSION DEADLINES. PLEASE SEE THE APPLICATION FOR GUIDANCE. | SubmissionDeadlinesTxt |
| Restrictions On Awards | GENERALLY LIMITED TO 501(C)(3) ORGANIZATIONS WITHIN THE EASTERN MASSACHUSETTS AREA, SOUTHERN NEW HAMPSHIRE, AND RHODE ISLAND. | RestrictionsOnAwardsTxt |
Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp
Recipient Business Name RecipientBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Total Grants & Contributions Paid | BusinessNameLine1Txt |
Recipient US Address RecipientUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 195 MARKET STREET EP 5-01 | AddressLine1Txt |
| City | LYNN | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01901 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient Relationship | NOT RELATED | RecipientRelationshipTxt |
| Recipient Foundation Status | PC | RecipientFoundationStatusTxt |
| Grant Or Contribution Purpose | EXEMPT PURPOSE | GrantOrContributionPurposeTxt |
| Amt | $14,699,750 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grant Or Contri Pd Dur Yr | $14,699,750 | TotalGrantOrContriPdDurYrAmt |
Grant Or Contri Apprv For Fut GrantOrContriApprvForFutGrp
Recipient Business Name RecipientBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FUTURE GRANTS APPROVED | BusinessNameLine1Txt |
Recipient US Address RecipientUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 195 MARKET STREET EP 5-01 | AddressLine1Txt |
| City | Lynn | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01901 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient Relationship | Not Related | RecipientRelationshipTxt |
| Recipient Foundation Status | PC | RecipientFoundationStatusTxt |
| Grant Or Contribution Purpose | Exempt Purpose | GrantOrContributionPurposeTxt |
| Amt | $0 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grant Or Contri Apprv Fut | $5,038,000 | TotalGrantOrContriApprvFutAmt |
Analysis Income Producing Acty AnalysisIncomeProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fees Contracts From Govt Ag | FeesContractsFromGovtAgGrp | |
| Membership Dues And Assmnt | MembershipDuesAndAssmntGrp |
Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 14 | ExclusionCd |
| Exclusion | $5,634,533 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Dividends And Interest From Sec Dtl | DividendsAndInterestFromSecDtl | |
| Net Rntl Incm Re Debt Fincd Prop | NetRntlIncmReDebtFincdPropGrp | |
| Net Rntl Incm Re Not Debt Fincd Prop | NetRntlIncmReNotDebtFincdProp | |
| Net Rental Income Personal Prop | NetRentalIncomePersonalPropGrp | |
| Other Investment Income | OtherInvestmentIncomeGrp |
Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 18 | ExclusionCd |
| Exclusion | $6,987,451 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Net Income Loss From Special Evt | NetIncomeLossFromSpecialEvtGrp | |
| Gross Profit Loss Sls Of Invntry | GrossProfitLossSlsOfInvntryGrp |
Other Revenue Described OtherRevenueDescribedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | CITC Refund | Desc |
| Related Or Exempt Function Incm | $90,000 | RelatedOrExemptFunctionIncmAmt |
Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | $12,621,984 | ExclusionAmt |
| Related Or Exempt Function Incm | $90,000 | RelatedOrExemptFunctionIncmAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Income Producing Acty | $12,711,984 | TotalIncomeProducingActyAmt |
Rln Of Acty To Accom Of Exmpt Prps RlnOfActyToAccomOfExmptPrpsGrp
Rln Of Acty To Accom Of Exmpt Prps RlnOfActyToAccomOfExmptPrpsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Line Number | 11A | LineNumberTxt |
| Relationship Statement | COMMUNITY INVESTMENT TAX CREDIT REFUND | RelationshipStatementTxt |
Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trnsfr Of Cash To Nonchrtbl EO | false | TrnsfrOfCashToNonchrtblEOInd |
| Trnsfr Other Asset Nonchrtbl EO | false | TrnsfrOtherAssetNonchrtblEOInd |
| Sales Or Exchanges Of Assets | false | SalesOrExchangesOfAssetsInd |
| Purchase Of Assets Nonchrtbl EO | false | PurchaseOfAssetsNonchrtblEOInd |
| Rental Of Facilities Oth Assets | false | RentalOfFacilitiesOthAssetsInd |
| Reimbursement Arrangements | false | ReimbursementArrangementsInd |
| Loans Or Loan Guarantees | false | LoansOrLoanGuaranteesInd |
| Performance Of Services Etc | false | PerformanceOfServicesEtcInd |
| Sharing Of Facilities Etc | false | SharingOfFacilitiesEtcInd |
| Relationships Nonchrtbl EO | false | RelationshipsNonchrtblEOInd |
Schedule B IRS990ScheduleB
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| General Rule | Yes (X) | GeneralRuleInd |
Contributor Information ContributorInformationGrp (2 entries)
| ContributorContributorNum | Address Line1ContributorUSAddress/AddressLine1Txt | CityContributorUSAddress/CityNm | State AbbreviationContributorUSAddress/StateAbbreviationCd | ZIPContributorUSAddress/ZIPCd | Total ContributionsTotalContributionsAmt | Person ContributionPersonContributionInd |
|---|---|---|---|---|---|---|
| Robert Rivers | ||||||
| 1 | 125 High Street | Boston | MA | 02110 | $10,000 | Yes (X) |
| David Rosato | ||||||
| 2 | 125 High Street | Boston | MA | 02110 | $10,000 | Yes (X) |
Accounting Fees Schedule AccountingFeesSchedule
Accounting Fees Detail AccountingFeesDetail (2 entries)
| CategoryCategoryTxt | AmtAmt | Net Investment IncomeNetInvestmentIncomeAmt | Adjusted Net IncomeAdjustedNetIncomeAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt |
|---|---|---|---|---|
| JULIE A AHLQUIST CPA | $25,250 | $0 | $0 | $25,250 |
| WOLF & COMPANY, P.C. | $31,230 | $0 | $0 | $31,230 |
Depreciation Schedule DepreciationSchedule
Investments Corp Bonds Schedule InvestmentsCorpBondsSchedule
Investments Corporate Bonds InvestmentsCorporateBondsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond | corporate bonds | BondNm |
| EOY Book Value | $21,397,188 | EOYBookValueAmt |
| EOYFMV | $21,397,188 | EOYFMVAmt |
Investments Corp Stock Schedule InvestmentsCorpStockSchedule
Investments Corporate Stock InvestmentsCorporateStockGrp (3 entries)
| StockStockNm | EOY Book ValueEOYBookValueAmt | EOYFMVEOYFMVAmt |
|---|---|---|
| common stock | $192,718,107 | $192,718,107 |
| exchange traded funds | $3,304,115 | $3,304,115 |
| mutual funds | $29,770,275 | $29,770,275 |
Investments Other Schedule2 InvestmentsOtherSchedule2
Investments Other InvestmentsOtherGrp (2 entries)
| Category Or ItemCategoryOrItemTxt | Listed At Cost Or FMVListedAtCostOrFMVCd | Book ValueBookValueAmt | EOYFMVEOYFMVAmt |
|---|---|---|---|
| INV IN EBNT HOLDINGS LLC | AT COST | $500,000 | $500,000 |
| INV IN ONE PERCENT FOR AMERICA | AT COST | $250,000 | $250,000 |
Legal Fees Schedule LegalFeesSchedule
Legal Fees LegalFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | NUTTER MCCLENNEN | CategoryTxt |
| Legal Fees | $15,345 | LegalFeesAmt |
| Net Investment Income | $0 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $0 | AdjustedNetIncomeAmt |
| Disbursements Charitable Prps | $15,345 | DisbursementsCharitablePrpsAmt |
Other Expenses Schedule OtherExpensesSchedule
Other Expenses Schedule OtherExpensesScheduleGrp (9 entries)
| DescDesc | Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt | Net Investment IncomeNetInvestmentIncomeAmt | Adjusted Net IncomeAdjustedNetIncomeAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt |
|---|---|---|---|---|
| MEMBERSHIPS/subscription | $19,330 | $0 | $0 | $19,330 |
| MASSACHUSETTS FILING FEE | $500 | $0 | $0 | $500 |
| Special Events | $636,848 | $0 | $0 | $636,848 |
| EVENT EXPENSES | $64,425 | $0 | $0 | $64,425 |
| Katie S Marr | $16,498 | $0 | $0 | $16,498 |
| Miscellaneous Expense | $19,284 | $0 | $0 | $19,284 |
| Jazzy Sportswear | $6,660 | $0 | $0 | $6,660 |
| EVERFI | $15,139 | $0 | $0 | $15,139 |
| JESSICA SUTTLE | $2,500 | $0 | $0 | $2,500 |
Other Income Schedule2 OtherIncomeSchedule2
Other Income Detail OtherIncomeDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | CITC Refund | Desc |
| Revenue And Expenses Per Books | $90,000 | RevenueAndExpensesPerBooksAmt |
| Net Investment Income | $0 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $0 | AdjustedNetIncomeAmt |
Other Increases Schedule OtherIncreasesSchedule
Other Increases Detail OtherIncreasesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | UNREALIZED GAINS ON INVESTMENTS | Desc |
| Amt | $31,680,805 | Amt |
Other Professional Fees Schedule OtherProfessionalFeesSchedule
Other Professional Fees Detail OtherProfessionalFeesDetail (4 entries)
| CategoryCategoryTxt | AmtAmt | Net Investment IncomeNetInvestmentIncomeAmt | Adjusted Net IncomeAdjustedNetIncomeAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt |
|---|---|---|---|---|
| EASTERN BANK ADMIN FEES | $3,271,379 | $0 | $0 | $3,271,379 |
| EASTERN WEALTH MANAGEMENT | $593,393 | $593,393 | $0 | $0 |
| Foundant Technologies | $16,000 | $0 | $0 | $16,000 |
| P2 Advisory | $11,835 | $0 | $0 | $11,835 |
Taxes Schedule TaxesSchedule
Taxes Detail TaxesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | 2024 ESTIMATED PAYMENTS | CategoryTxt |
| Amt | $135,000 | Amt |
| Net Investment Income | $0 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $0 | AdjustedNetIncomeAmt |
| Disbursements Charitable Prps | $0 | DisbursementsCharitablePrpsAmt |
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