Watts 2 Boston Foundation

Westwood, MA · Public charity (501(c)(3)) · Youth Development

✓ Tax-deductible Latest data FY2025
Revenue
$435K
▲ +38% vs prior year
Spent
$379K
To programs
87%
Net assets
$171K
By yearFY2023–FY2025
Revenue
$435K
FY2025▲ +38%
Revenue by fiscal year
FY2023$149K
FY2024$315K
FY2025$435K
Expenses
$379K
FY2025▲ +54%
Expenses by fiscal year
FY2023Not on file
FY2024$247K
FY2025$379K
Net assets
$171K
FY2025▲ +49%
Net assets by fiscal year
FY2023$46K
FY2024$114K
FY2025$171K

Form 990 for the fiscal year ending March 2025 (IRS tax year 2024).

Status and standing

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
Yes — exemption reinstated (2021-08-15)
Per the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Foundation funders?
4 funders, incl. Fidelity Investments Charitable Gift Fund
$105K in the latest grant year.
Spent on programs?
87% to programs
Form 990 Part IX, latest filing.
Size and trend
$100K–1M
↑ +38% vs prior year
Legal name (IRS)Hdr · item CWatts 2 Boston Foundation
EINHdr · item D83-4043198
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFJun 2022
Latest filingForm 990FY2025 · Form 990
Principal addressHdr · item CWestwood, MA
NTEE classificationIRS BMFYouth Development (O12)
WebsiteHdr · item Jwww.watts2boston.org

Where the money goes

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.87 Management & general $0.06 Fundraising $0.07
Program services87%$329K
Management & general6%$23K
Fundraising7%$27K
Total functional expensesLn 25$379K

Financial health

Program efficiency
87%
of spending reaches programs▲ +11% vs prior filing year
Operating runway
5.5mo
months of highly liquid reserves at operating expense rate▼ -8% vs prior filing year
Surplus margin
+13%
revenue over expenses, this year▼ -40% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Total assets
$182K
FY2025▲ +39%
Total assets by fiscal year
FY2023Not on file
FY2024$131K
FY2025$182K
Total liabilities
$12K
FY2025▼ -30%
Total liabilities by fiscal year
FY2023Not on file
FY2024$17K
FY2025$12K
Revenue less expensesPt I · Ln 19$56K
Total assetsPt X · Ln 16$182K
Program-expense ratioPt IX · col B87%
Voting members of governing bodyPt I · Ln 38
Independent voting membersPt I · Ln 47

Balance Sheet

Part X · end of year
CashLn 1$175K
Total assetsLn 16$182K
Total liabilitiesLn 26$12K
Total net assetsLn 32$171K
Months of cash on handcomputed5.5

Statement of Revenue

Part VIII
Contributions & grants$417K · 96%
Other revenue$15K · 3%
Investment income$4K · 1%
Contributions & grants96%$417K
Other revenue3%$15K
Investment income1%$4K
Total revenueLn 12$435K

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $175K · Operating expenses/yr $379K
5.5 months
Where the money goes
Program services
Program services $329K · Total expenses $379K
87%
Management & General
Management & general $23K · Total expenses $379K
6%
Fundraising
Fundraising $27K · Total expenses $379K
7%
Cost to raise $1
Fundraising expense (2-yr avg) $28K · Solicited contributions (2-yr avg) $358K
$0.08 to raise $1 (2-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $417K · Total revenue $435K
96%
Government reliance
Government grants — · Total revenue $435K
—
Earned-income share
Program service revenue $0 · Total revenue $435K
0%
Investment reliance
Investment income $4K · Total revenue $435K
+0.8%
Program self-sufficiency
Program service revenue $0 · Total expenses $379K
0%
Growth & trend
Revenue growth (YoY)
This year $435K · Prior year $315K
+38%
Net-asset trend (YoY)
End of year $171K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $435K · Expenses $379K
+13%
Liabilities-to-Assets
Total liabilities — · Total assets $182K
—
Net-asset ratio
Net assets $171K · Total assets $182K
94%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $182K
0%
People & payroll
Highest Reported Total Compensation
Individual Julie Mulvey · Reported title President · Highest reported compensation $0 · Total expenses $379K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $0 · Total expenses $379K
0%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 87%——
Overhead ratio 6%——
Fundraising cost ratio 6%——
Revenue growth 38%——
Investment management fee ratio 0%——
Legal fee ratio 0%——
Accounting fee ratio 3%——
Fundraising fee ratio 0%——

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.

Leadership and pay

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Watts 2 Boston Foundation executive salaries →

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Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a8
Independent voting membersPt VI · Ln 1b7
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Mission and programs

Connects Watts youth with educational opportunities and experiences through community partnerships.

Provided by the organization

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Mission & Programs · Part III

Where the work happens

3 program services account for $329K of program spending, described in the organization's own filed words · FY2024.
01

Educational Expenses- Necessary educational needs for our scholars, including tuition, textbooks, laptops, books and airfare. Over 80 students and families received benefit this period.

$176Kprogram expense
02

Grants to Organizations- Support for educational foundations, LAPD Partnerships, athletic organizations designated to impoverished areas, good faith donations for future scholars.

$87Kprogram expense
03

Support for Individuals- Support for well-being, including food, furniture, rent assistance. About 100 students and families received benefit this period.

$66Kprogram expense

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Funders

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

Grants

Schedule I · received and paid
Grants received · FY2024
See all 4 funders →
Grants paid · 17 grants · $497K · 2023–2024
Unitemized GrantFY2024$157,005
Mary of the Sea High SchoolCA · FY2024$50,000
Unitemized GrantFY2024$27,614
Unitemized GrantFY2024$23,057
Strive FoundationCA · FY2024$22,500
Unitemized GrantFY2024$14,724
Unitemized GrantFY2024$8,790
Unitemized GrantFY2024$5,229
Unitemized GrantFY2024$4,366
Unitemized GrantFY2023$95,275
Unitemized GrantFY2023$27,604
Unitemized GrantFY2023$25,818
Unitemized GrantFY2023$13,556
Project Blue CorpsCA · FY2023$8,000
Strive FoundationCA · FY2023$5,700
Unitemized GrantFY2023$5,031
Unitemized GrantFY2023$3,000

Filing history

YearRevenueExpensesChangeFiling
FY2025 Latest Viewing $435K$379K+38% 990 PDF
FY2024 $315K$247K+112% 990 PDF
FY2023 $149K— 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

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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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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