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Philanthropy Connection INC

Tax-deductible

Cambridge, MA501(c)(3)Foundations & GrantmakersEIN 46-0665444Revenue $284K in FY2024

On file with the IRSthephilanthropyconnection.org1770 Massachusetts Ave, 02140-2808 · Cambridge, MATax-exempt since Sep 2012Publicly supported charity — 170(b)(1)(A)(vi)

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The Philanthropy Connections mission is to inspire, teach, and enable women to engage in collective philanthropy, in order to provide grants to charitable organizations that improve the quality of life for low-resource individuals and families living in Massachusetts.

501(c)(3) charity; gifts are tax-deductible.
89¢ of each $1 spent went to programs.
Run by 117 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $4K a year · 1% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
89%
of spending
Looks good: 89% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
19 mo
of spending, in cash
Looks good: 19.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
8
named funders · $98K
Looks good: 8 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$130K
25% of total assets
Looks good: liabilities are 25% of assets; 50% or less.
Pt X · Ln 26
Independent board members
17
of 17 voting members
Looks good: 17 of 17 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$284K
-10% vs prior year
Spent
$321K
To programs
89%
Net assets
$385K
By yearFY2020–FY2024
Revenue
$284K
FY2024▼ -10%
Tap a bar for its year
Revenue by fiscal year
FY2020$350K
FY2021$377K
FY2022$321K
FY2023$317K
FY2024$284K
Expenses
$321K
FY2024▲ +0.9%
Tap a bar for its year
Expenses by fiscal year
FY2020$312K
FY2021$325K
FY2022$353K
FY2023$318K
FY2024$321K
Net assets
$385K
FY2024▼ -9%
Tap a bar for its year
Net assets by fiscal year
FY2020$404K
FY2021$455K
FY2022$423K
FY2023$422K
FY2024$385K

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 2012.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

89 cents of each dollar spent went to programs.

Program services 89% · $285K Management & general 11% · $36K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

17 people listed on the 990.

Part VII, Section A · reportable compensation
Kelsea Medard
Co-President
$0Pt VII · Sec A
Jennifer Morrison
Co-President
$0Pt VII · Sec A
Cathy Konicki
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Sue Meehan
Director
$0Pt VII · Sec A
See Philanthropy Connection INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Empowering women to give together, funding charities that help low-resource families in Massachusetts.

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Provided by the organization

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1 program · $285K · in their own filed words · FY2024
01

To provide grants to charitable organizations that create innovative ways to improve the quality of life for low-resource individuals and families living in Massachusetts.

$285Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Fidelity Investments Charitable Gift FundFY2024$42K
National Philanthropic TrustFY2024$16K
The Boeckman Family FoundationFY2024$10K
Boston Foundation INCFY2024$9K
Vanguard Charitable Endowment ProgramFY2024$9K
Donor Advised Charitable Giving INCFY2024$9K
The Lander Family Charitable FoundationFY2024$2K
Betsy & Alan Cohn Foundation INCFY2024$300
Total grants receivedfrom 8 funders$98K
See all 8 funders →
Grants paid · 50 grants · $1.3M · 2020–2024
Student Clinic for Immigrant Justice INCMA · FY2024$25,000
Dignity Matters INCMA · FY2024$25,000
Young Man with a Plan INCMA · FY2024$25,000
Boston Food Forest CoalitionMA · FY2024$25,000
Mabel Center for Immigrant Justice CorpMA · FY2024$25,000
Women's Money Matters INCMA · FY2024$25,000
Rise Above FoundationMA · FY2024$25,000
One Can Help INCMA · FY2024$25,000
Mill City Grows INCMA · FY2024$25,000
Communities for Restorative JusticeMA · FY2024$25,000
Mujeres Unidas Avanzando INCMA · FY2023$25,000
Dignity Matters INCMA · FY2023$25,000
Young Man with a Plan INCMA · FY2023$25,000
Boston Food Forest CoalitionMA · FY2023$25,000
Mabel Center for Immigrant Justice CorpMA · FY2023$25,000
Project Citizenship INCMA · FY2023$25,000
Apprentice Learning INCMA · FY2023$25,000
School on Wheels of Massachusetts INCMA · FY2023$25,000
See all 50 grants →

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$284K
Ln 12
Gifts and grantsLn 1h$272K
Investment incomeLn 3$12K
Money outPt IX
$321K
Ln 25
Programscol B$285K
Managementcol C$36K
Owns and owesPt X
$385K
net assets · Ln 32
Cash and savingsLn 1–2$511K
Total assetsLn 16$515K
LiabilitiesLn 26$130K
PeoplePt VI, VII
17
listed · VII A
PaidVII A0
Voting boardVI 1a17
IndependentVI 1b17
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$272K
Investment incomeLn 3$12K
Total revenueLn 12$284K
Assets in detailPt X, end of year
CashLn 1$229K
SavingsLn 2$281K
Cash and savings togetherLn 1–2$511K
Total assetsLn 16$515K
LiabilitiesLn 26$130K
Net assetsLn 32$385K
OperationsPt I, VI
EmployeesI 50
VolunteersI 6117
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$543K$511K
Total assetsLn 16$564K$515K
LiabilitiesLn 26$143K$130K
Net assetsLn 32$422K$385K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$250K$250K
Accounting feesLn 11c$11K$0$11K$0
Other fees for servicesLn 11g$27K$18K$9K$0
Office expensesLn 13$11K$0$11K$0
InsuranceLn 23$468$0$468$0
Other expenses (24a–d)Ln 24$20K$15K$5K$0
All other expensesLn 24e$2K$2K$147$0
Total functional expensesLn 25$321K$285K$36K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $284K$321K−$37K$385K 990 PDF
FY2023 $317K$318K−$1K$422K 990 PDF
FY2022 $321K$353K−$32K$423K 990 PDF
FY2021 $377K$325K$51K$455K 990 PDF
FY2020 $350K$312K$38K$404K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $284,115 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $303,822$272,103
I-9 Program service revenue$0
I-10 Investment incomePrior year $12,898$12,012
I-11 Other revenue$0
I-12 Total revenuePrior year $316,720$284,115
I-13 Grants and similar amounts paidPrior year $250,000$250,000
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $68,169$71,170
I-18 Total expensesPrior year $318,169$321,170
I-19 Revenue less expensesPrior year −$1,449−$37,055
Part VI · Governance 17 of 17 board members independent, 2 to look at
VI-1a Voting members of the governing body17
VI-1b Independent voting members17
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $284,115 across 5 lines filed
VIII-1b Membership dues$225,000
VIII-1f All other contributions, gifts and grants$47,103
VIII-1h Total contributions, gifts and grants$272,103
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $12,012$12,012
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $12,012$284,115
Part IX · Statement of functional expenses $321,170 across 7 lines filed
IX-1 Grants to domestic organizationsPrograms $250,000$250,000
IX-11c Accounting feesPrograms $0 · Management $11,350 · Fundraising $0$11,350
IX-11g Other fees for servicesPrograms $17,899 · Management $8,816 · Fundraising $0$26,715
IX-13 Office expensesPrograms $0 · Management $10,839 · Fundraising $0$10,839
IX-23 InsurancePrograms $0 · Management $468 · Fundraising $0$468
IX-24 Other expenses (24a–d)Programs $15,193 · Management $4,733 · Fundraising $0$19,926
IX-24e All other expensesPrograms $1,725 · Management $147 · Fundraising $0$1,872
IX-25 Total functional expensesPrograms $284,817 · Management $36,353 · Fundraising $0$321,170
Part X · Balance sheet $514,801 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $273,203$229,433
X-2 Savings and temporary cash investmentsStart of year $269,606$281,468
X-3 Pledges and grants receivableStart of year $21,655$3,900
X-16 Total assetsStart of year $564,464$514,801
X-17 Accounts payable and accrued expensesStart of year $5,172$5,064
X-18 Grants payableStart of year $137,500$125,000
X-25 Other liabilitiesStart of year $0$0
X-26 Total liabilitiesStart of year $142,672$130,064
X-27 Net assets without donor restrictionsStart of year $193,586$222,916
X-28 Net assets with donor restrictionsStart of year $228,206$161,821
X-32 Total net assets or fund balancesStart of year $421,792$384,737
X-33 Total liabilities and net assetsStart of year $564,464$514,801
Part XI · Reconciliation of net assets $384,737 net assets at year end
XI-1 Total revenue$284,115
XI-2 Total expenses$321,170
XI-3 Revenue less expenses−$37,055
XI-4 Net assets at start of year$421,792
XI-10 Net assets at end of year$384,737

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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