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Eastern Bank Charitable Foundation EIN 22-3317340 Form 990 (PDF) Claim this org

Eastern Bank Charitable Foundation

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A private foundation based in Wakefield, MA. It reported about $28.8M in revenue for 2025. For fiscal year 2025 it reported $28.8M in revenue, $24.3M in expenses, and $266.7M in net assets.Pt I

Type
Private foundation / grantmaker · Foundations & Grantmakers
Location
Wakefield, MA
Website
www.easternbank.com/foundation
Filings
6 on file (2020–2025)
Revenue
$28.8MFY2025
Expenses
$24.3M
Net assets
$266.7M
People
9
Filings
6
Updates
0
More identity details & actions ⌄
EIN  22-3317340 Private foundation / grantmaker Wakefield, MA 1 follower
Form 990 (PDF)
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Size
$10–100M
What they do
A private foundation based in Wakefield, MA. It reported about $28.8M in revenue for 2025.
Leadership
Deborah C Jackson · Trustee
Money in and out
$28.8M revenue, $24.3M expenses
Bottom line
—
Grants paid & assets · FY2025
Total revenue
$28.8M
Pt VIII · Ln 12
Total expenses
$24.3M
Pt IX · Ln 25
Net assets
$266.7M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $4.5M
Total assets
266.7M
deployed as grants and operations
Grants paid
19.0M
in FY2025
Grants made
1,786grants
total in period
Payout rate
7%
of assets (5% rule)

Who They Fund

Part XV · grants paid · 1,786 grants · $19.0M · 2025–2025
City of LynnFY2025$2,002,500
Massachusetts Housing PartnershipFY2025$1,538,000
La ColaborativaFY2025$1,005,000
Nectar Community Investments (fka Lowell Community Loan Fund DBA McCi - FbeFY2025$900,000
The Greater Boston Food BankFY2025$515,000
The Builder CoalitionFY2025$301,930
The Boston Foundation - Asian Community FundFY2025$268,250
YMCA of Greater NashuaFY2025$250,000
University of Massachusetts LowellFY2025$250,000
Inquilinos Boricuas En Accin - IbaFY2025$220,000
Museum of African American HistoryFY2025$213,000
Gregg Neighborhood House Association INCFY2025$205,000
The Boston Foundation - the Equality FundFY2025$200,000
Massachusetts Institute for a New Commonwealth (massinc)FY2025$200,000
Massachusetts Taxpayers FoundationFY2025$175,000
Housing Assistance CorporationFY2025$170,000
The Neighborhood DevelopersFY2025$165,000
Neighborworks Southern New HampshireFY2025$157,356
See all 1,786 grants →

Grantmaking Profile

Patterns in foundation giving
Average grantPart XV$11K
Median grantPart XV$2K
Largest grantPart XV$2.0M

Summary of the Filing

Part I · fiscal year 2025 · Form 990-PF
Revenue
$28.8M
FY2025▲ +126%
Expenses
$24.3M
FY2025▲ +24%
Total assets
$266.7M
FY2025▲ +7%
Total liabilities
$0
FY2025
Total revenue
$28.8M
Pt VIII · Ln 12
Total expenses
$24.3M
Pt IX · Ln 25
Net assets
$266.7M
Pt X · Ln 32
Total assetsPt II$266.7M

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CEastern Bank Charitable Foundation
EINHdr · item D22-3317340
Principal addressHdr · item CWakefield, MA
WebsiteHdr · item Jwww.easternbank.com/foundation
State of legal domicileHdr · item MMA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFFoundations & Grantmakers (T20Z)
Ruling yearIRS BMFMay 1995

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1apending
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12a—
Whistleblower policyPt VI · Ln 13—
Document retention policyPt VI · Ln 14—
CEO/top-official compensation independently reviewedPt VI · Ln 15a—
Family or business relationships among officers/directorsPt VI · Ln 2—

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Eastern Bank Charitable Foundation executive salaries →

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Statement of Revenue

Part VIII
Investment income$17.9M · 62%
Contributions & grants$10.7M · 37%
Other revenue$246K · 1%
Investment income62%$17.9M
Contributions & grants37%$10.7M
Other revenue1%$246K
Total revenueLn 12$28.8M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Grants & contributions paid $0.78 Operating & administrative $0.22
Grants & contributions paid78%$19.0M
Operating & administrative22%$5.3M
Total functional expensesLn 25$24.3M

Balance Sheet

Part X · end of year
CashLn 1$9.5M
Total assetsLn 16$266.7M
Total liabilitiesLn 26$0
Total net assetsLn 32$266.7M
Months of cash on handcomputed4.7

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Payout rate
Grants paid $0 · Total assets $266.7M
0%
Where the money comes from
Contribution dependence
Contributions & grants — · Total revenue $28.8M
—
Government reliance
not reported
Earned-income share
not reported
Investment reliance
Investment income $0 · Total revenue $28.8M
0%
Program self-sufficiency
not reported
Growth & trend
Revenue growth (YoY)
This year $28.8M · Prior year $12.7M
+126%
Revenue CAGR
FY2020 $106.3M · FY2025 $28.8M
-23%
Net-asset trend (YoY)
End of year $266.7M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $28.8M · Expenses $24.3M
+16%
Liabilities-to-Assets
Total liabilities — · Total assets $266.7M
—
Net-asset ratio
Net assets $266.7M · Total assets $266.7M
100%
People & payroll
Highest Reported Total Compensation
Individual Deborah C Jackson · Reported title TRUSTEE · Highest reported compensation $0 · Total expenses $24.3M
0%
Personnel share
not reported
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Revenue growth 126%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$28.8M revenue · viewing · ⤓ 990 PDF
FY2024$12.7M revenue · ⤓ 990 PDF
FY2023$13.8M revenue · ⤓ 990 PDF
FY2022$23.0M revenue · ⤓ 990 PDF
FY2021$18.4M revenue · ⤓ 990 PDF
FY2020$106.3M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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