Overview
What is Boston Foundation Inc?
The Boston Foundation Inc, based in Boston, Massachusetts, serves as Greater Boston's community foundation, dedicated to fostering a thriving city and region where justice and opportunities are accessible to all. They accomplish this mission through three key areas: making grants to nonprofits, partnering with donors for high-impact philanthropy, and acting as a civic hub and center of information. The Boston Foundation focuses on various impact areas, including education, arts and culture, health and wellness, jobs and economic development, neighborhoods and housing, and addressing social justice issues. Their goals include promoting equity, building healthy communities, and advancing economic mobility among residents.
Official website here: www.tbf.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97% (Four-Star out of Four Star rating)
Boston Foundation Inc has achieved a remarkable 97% score from Charity Navigator, reflecting its strong commitment to accountability and financial health. This high rating is based solely on its accountability and finance metrics, suggesting that the organization operates with a high level of transparency and fiscal responsibility. The foundation's governance structure, with 100% independent board members, further demonstrates its integrity and commitment to ethical operations.
The organization excels in various financial metrics, including a program expense ratio of 91.39%, indicating that a significant portion of its funds directly supports its programs. Additionally, its liabilities to assets ratio is impressively low at 1.19%, showcasing sound financial management. The foundation also maintains effective fundraising efficiency, requiring only a penny to raise a dollar, which highlights its operational effectiveness and dedication to maximizing donor contributions.
While the rating underscores the foundation's strengths, it is essential to consider that the score is derived solely from accountability and finance metrics. There may be other areas of performance not covered in this specific score, such as program impact or community engagement, which could provide additional insight into the foundation's overall effectiveness. Nonetheless, the available data paints a picture of a financially sound and well-managed organization.
This AI summary has been generated from information found on Charity Navigator.
Is Boston Foundation Inc legitimate?
Boston Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Boston Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $3,128,255
Professional Fundraising Fees: $0
Other Salaries and Wages: $11,738,998
For more financial information, click here
Official website here: www.tbf.org
What is the mission statement of Boston Foundation Inc?
The Boston Foundation serves as a community foundation, channeling its resources towards creating a thriving city and region where justice and opportunities are accessible to all. Its mission is realized in three primary ways: firstly, by granting funds to non-profit organizations and developing special initiatives to tackle community challenges; secondly, through partnerships with donors and other funders to foster high-impact philanthropy; and thirdly, as a civic hub and center for information exchange, identifying critical levers for change and promoting shared visions for the future.
Official website here: www.tbf.org
Who is the CEO of Boston Foundation Inc?
M Lee Pelton is the President & Ceo of Boston Foundation Inc. The CEO's salary of Boston Foundation Inc is $419,978 and their total compensation is $455,936.
Official website here: www.tbf.org
What is the revenue of Boston Foundation Inc?
Boston Foundation Inc's revenue in 2022 was $324,652,362.
Official website here: www.tbf.org
Who are the executives of Boston Foundation Inc and what are their salaries?
The average compensation at Boston Foundation Inc during 2022 was $97,811. There are 152 employees and 280 volunteers at Boston Foundation Inc.
Here are 37 key members and their salaries (Boston Foundation Inc's CEO's salary is $419,978 and their total compensation is $455,936):
- Compensation: $636,389
- Related: $0
- Other: $43,403
- Compensation: $419,978
- Related: $0
- Other: $35,958
- Compensation: $390,256
- Related: $0
- Other: $62,089
- Compensation: $408,505
- Related: $0
- Other: $40,038
- Compensation: $354,585
- Related: $0
- Other: $48,673
- Compensation: $284,903
- Related: $0
- Other: $19,183
- Compensation: $258,757
- Related: $0
- Other: $28,426
- Compensation: $222,103
- Related: $0
- Other: $29,219
- Compensation: $213,373
- Related: $0
- Other: $15,412
- Compensation: $176,485
- Related: $0
- Other: $47,166
- Compensation: $175,097
- Related: $0
- Other: $48,489
- Compensation: $185,850
- Related: $0
- Other: $36,439
- Compensation: $194,957
- Related: $0
- Other: $25,338
- Compensation: $193,076
- Related: $0
- Other: $20,753
- Compensation: $182,152
- Related: $0
- Other: $26,902
- Compensation: $168,859
- Related: $0
- Other: $37,007
- Compensation: $77,967
- Related: $0
- Other: $18,099
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Official website here: www.tbf.org
Where can I find the form 990 for Boston Foundation Inc?
Boston Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.tbf.org
Learn more at the official website: www.tbf.org
Mission Statement of Boston Foundation Inc
The Boston Foundation, a leading community foundation in Greater Boston, is dedicated to strengthening and sustaining a thriving city and region where justice and opportunity are accessible to all. By channeling its resources effectively, the Boston Foundation achieves its mission in three primary ways.
First and foremost, it grants funds to nonprofit organizations and creates special initiatives to tackle the community's pressing challenges. This targeted giving approach aims to make a significant impact in various areas, from education and health to social services and the arts.
Second, the Boston Foundation partners with donors and other funders to amplify the power of philanthropy. Through collaborative efforts, it helps facilitate high-impact giving, ensuring that resources are allocated efficiently and effectively to generate maximum positive change.
Lastly, the Boston Foundation functions as a civic hub and hub of information, facilitating the exchange of ideas and identification of strategic initiatives. By fostering dialogue and cooperation among various stakeholders, it drives the development of shared agendas for a better future. In essence, the Boston Foundation plays a pivotal role in catalyzing positive change and promoting the greater good within the Greater Boston community.
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Impact
October, 2024
Boston Foundation Inc significantly impacts Greater Boston by addressing systemic challenges and fostering a vibrant, equitable community. Through strategic grants and funding initiatives, the foundation directly supports nonprofit organizations tackling critical issues in the region.
In the Arts and Culture sector, the Foundation uses the power of the arts to bridge divides and enhance community engagement, promoting a vibrant cultural ecology that echoes diverse voices. Their commitment to Education ensures that all residents, especially children, can access quality educational resources, from early childhood through higher education, thereby promoting long-term economic success.
The Health and Wellness area focuses on health equity, striving to improve health outcomes for vulnerable populations and addressing social determinants of health. With an emphasis on Jobs and Economic Development, the foundation works to create sustainable career opportunities and inclusive economic mobility for all community members.
In Neighborhoods and Housing, the organization advocates for safe, affordable housing, enhancing living conditions and community stability. Finally, the foundation's Social Justice Ecology framework addresses critical issues within the nonprofit sector, ensuring that marginalized voices are included in decision-making and that organizations are equipped to tackle inequities effectively.
Overall, Boston Foundation Inc acts as a transformative force in the region, fostering collaboration, inclusion, and social justice to build a prosperous Greater Boston for everyone.
This information is meant to be a general summary of Boston Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $16,997,910
- Program Service Revenue: $3,382,253
- Gross Receipts: $790,931,035
Assets and Liabilities:
- Total Assets: $1,673,670,064
- Total Liabilities: $12,324,606
- Net Assets: $1,661,345,458
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Service Fee Revenue
Revenue
$3,382,253
Organization Details
Founding Year
1915
Phone
(617) 338-1700Principal Officer
M Lee Pelton
Main Address
75 Arlington Street FL 3, Boston, MA, 021163936
Website
www.tbf.orgNTEE Category
Code: T310 - Philanthropy
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