Overview
What is Masonic Education & Charity Trust?
The Masonic Education & Charity Trust is a nonprofit organization situated in Boston, Massachusetts, dedicated to supporting various Masonic organizations through fund management and investment. Its primary mission is to distribute the earned income and investment returns to these entities for their charitable programs. The trust upholds the essential qualities shared by Freemasons, such as a belief in a supreme being, fellowship, high moral standards, kindness, courtesy, honesty, fairness, and community service. Freemasonry promotes fellowship, friendship, and community service throughout a Mason's life. Charity is a significant aspect, as Freemasons have been dedicated to caring for disadvantaged children, the sick, and the elderly for years. Education is another priority, with the Grand Lodge of Massachusetts advocating for its members' education and providing various learning opportunities. Leadership development is also part of Freemasonry, offering various leadership positions at the lodge, district, and grand lodge levels. Masonic Health System of Massachusetts, established in 2001, continues the tradition of caring for individuals by providing a continuum of quality services and programs, including skilled nursing, Alzheimer's care, rehabilitative services, and nutrition services.
Official website here: www.massfreemasonry.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 91% (Four-Star out of Four Star rating)
The Masonic Education & Charity Trust has achieved a strong 91% score on Charity Navigator, reflecting its solid performance in accountability and finance. The charity's high rating indicates a commitment to transparency and responsible management of resources, as evidenced by various factors including an independent board and robust financial oversight.
Strengths of the organization include an impressive 88% of board members being independent, ensuring diverse perspectives in governance. With a program expense ratio of 74.70%, the Trust demonstrates a significant focus on its charitable programs, maximizing the impact of its funding. The presence of essential policies, like whistleblower and conflict of interest policies, further reinforces its commitment to ethical standards.
However, the organization does have a liabilities to assets ratio of 56.68%, which could be a point of concern in terms of financial stability. Overall, the Masonic Education & Charity Trust is recognized for its effective management and accountability but should continue monitoring its financial ratios to maintain its strong standing.
This AI summary has been generated from information found on Charity Navigator.
Is Masonic Education & Charity Trust legitimate?
Masonic Education & Charity Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. Masonic Education & Charity Trust 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $443,340
For more financial information, click here
Official website here: www.massfreemasonry.org
What is the mission statement of Masonic Education & Charity Trust?
The Masonic Education & Charity Trust's mission is to manage and invest funds for related Masonic organizations. The income generated from these investments is then distributed to these organizations. A significant aspect of this trust's mission is to return the invested funds when required. This financial management is instrumental in fulfilling the obligations and requirements of Freemasonry, a fraternal organization that aims to enhance and strengthen individuals by promoting fellowship, charity, education, and leadership based on the three ancient Masonic tenets: brotherly love, relief, and truth. The Massachusetts Freemasonry, as a part of this legacy, strives to "make good men better."
Official website here: www.massfreemasonry.org
Who is the CEO of Masonic Education & Charity Trust?
Richard Maggio is the President of Masonic Education & Charity Trust.
Official website here: www.massfreemasonry.org
What is the revenue of Masonic Education & Charity Trust?
Masonic Education & Charity Trust's revenue in 2022 was $4,697,309.
Official website here: www.massfreemasonry.org
Who are the executives of Masonic Education & Charity Trust and what are their salaries?
Here are 11 key members and their salaries:
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- Related: $88,402
- Other: $2,542
Official website here: www.massfreemasonry.org
Where can I find the form 990 for Masonic Education & Charity Trust?
Masonic Education & Charity Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.massfreemasonry.org
Learn more at the official website: www.massfreemasonry.org
Mission Statement of Masonic Education & Charity Trust
The Masonic Education & Charity Trust is dedicated to maintaining and investing funds for affiliated Masonic organizations. Its primary objective is to distribute the income generated from these investments back to the organizations and return their invested funds when necessary. This mission is instrumental in fulfilling the requirements and obligations of Freemasonry, an age-old tradition that includes fellowship, charity, education, and leadership, all centered around the core tenets of brotherly love, relief, and truth. Massachusetts Freemasonry serves as a testament to this legacy, as it strives to "make good men better" through its initiatives. The Trust's role in financially supporting Masonic organizations allows them to continue their work in enhancing individual character and contributing positively to their communities.
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Impact
July, 2024
Masonic Education & Charity Trust plays a significant role in supporting Masonic organizations and their charitable programs. They hold and invest funds for the Masonic Home, the Grand Lodge of Masons in Massachusetts, and other related organizations. By distributing income earned to these organizations, the Trust enables them to continue their charitable initiatives, which include caring for disadvantaged children, the sick, and the elderly.
Through the Trust's contributions, Masonic organizations are able to provide essential services such as skilled nursing care, post-acute care, Alzheimer's and dementia-related programs, fitness programs, rehabilitative services, nutritional services, and hospice care. Additionally, their involvement in community volunteer work and commitment to leadership development within the fraternity further underscore their impact on society.
Overall, the Trust's efforts uphold the core values of Freemasonry, promoting fellowship, friendship, community service, and ethical leadership. By supporting these initiatives, they contribute to the betterment of individuals and communities, embodying the principles of brotherly love, relief, and truth in their work.
This information is meant to be a general summary of Masonic Education & Charity Trust. 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: $3,703,036
- Gross Receipts: $110,452,144
Assets and Liabilities:
- Total Assets: $83,696,851
- Total Liabilities: $48,128,572
- Net Assets: $35,568,279
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Organization Details
Founding Year
1884
Phone
(617) 426-6040Principal Officer
Richard Maggio
Main Address
186 TREMONT STREET, BOSTON, MA, 02111
Website
www.massfreemasonry.orgNTEE Category
Code: S120 - Community improvement
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