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The Winthrop Foundation FY2020 filing

Tax-deductible

Winthrop, MA501(c)(3)Since 2019Community Development EIN 84-2588220Revenue $500K in FY2020

On file with the IRSwinthropfoundation.usPo Box 520305, 02152-0006 · Winthrop, MATax-exempt since Sep 2021Publicly supported charity — 170(b)(1)(A)(vi)

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The Winthrop Foundation is a volunteer board of trustees whose mission is to offer grant funding to a range of programs and organizations in Winthrop to improve the quality of life of our community. The Foundation offers grant funding to local charitable organizations and programs that serve the public. Grant support and coordination is provided by the administrator.

501(c)(3) charity; gifts are tax-deductible.
92¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2020 · 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
3 of 4
filings with a surplus
Average surplus $141K a year · 56% of revenue · last 4 filings
Fine: a surplus in 3 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
21 mo
of spending, in cash
Looks good: 20.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $8K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$31K
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$500K
Spent
$172K
To programs
92%
Net assets
$766K
By yearFY2020–FY2024
Revenue
$500K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$500K
FY2021$0
FY2023$57
FY2024$510K
FY2024$28K
Expenses
$172K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$172K
FY2021$0
FY2023$182K
FY2024$91K
FY2024$223K
Net assets
$766K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$766K
FY2021$766K
FY2023$477K
FY2024$896K
FY2024$701K

From the FY2020 Form 990 · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 2021.

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

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $158K Management & general 8% · $14K

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

6 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Brian Leslie
Treasurer
$0Pt VII · Sec A
Terence Delehanty
Board Member
$0Pt VII · Sec A
Gus Martucci
Board Member
$0Pt VII · Sec A
Vasili Mallios
Board Member
$0Pt VII · Sec A
See The Winthrop Foundation 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

Provides grants to local charities and programs improving community quality of life.

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Provided by the organization

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1 program · $158K · in their own filed words · FY2020
01

The winthrop foundation was established to provide funding of programs or projects in or benefitting the town of winthrop to avoid, limit, or mitigate any environmental or socioeconomic impacts or effects of works, projects, or activities at logan airport, AND/OR funding of any projects for public or charitable purposes that benefit of…

$158Kprogram 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
Mark and Donna Ross Family FoundationFY2024$8K
Total grants receivedfrom 1 funder$8K
Grants paid · 15 grants · $406K · 2022–2024
Town of WinthropFY2024$131,100
11 Foundation - in Memory of Michael Mason INCMA · FY2024$25,000
For Kids Only Afterschool IncorporatedMA · FY2024$15,000
Winthrop Chamber of Commerce INCMA · FY2024$13,500
Northeast Metropolitan Regional Vocational Technical SchoolFY2024$6,000
Town of WinthropFY2023$27,956
Winthrop Parks and RecreationFY2023$15,000
Winthrop Chamber of Commerce INCMA · FY2023$13,500
Winthrop Parks and RecreationFY2022$51,500
Town of WinthropFY2022$42,000
Winthrop Little League INCMA · FY2022$20,000
Winthrop Youth Hockey Association INCMA · FY2022$13,240
Winthrop Youth CheerFY2022$12,665
Winthrop High SchoolFY2022$10,000
Winthrop Holiday Festival CommitteeMA · FY2022$9,350

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$500K
Ln 12
Gifts and grantsLn 1h$500K
Investment incomeLn 3$42
Money outPt IX
$172K
Ln 25
Programscol B$158K
Managementcol C$14K
Owns and owesPt X
$766K
net assets · Ln 32
Cash and savingsLn 1–2$297K
Total assetsLn 16$797K
LiabilitiesLn 26$31K
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a0
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$500K
Investment incomeLn 3$42
Total revenueLn 12$500K
Assets in detailPt X, end of year
CashLn 1$297K
Cash and savings togetherLn 1–2$297K
Total assetsLn 16$797K
LiabilitiesLn 26$31K
Net assetsLn 32$766K
OperationsPt I, VI
EmployeesI 50
VolunteersI 67
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$444K$297K
Total assetsLn 16$444K$797K
LiabilitiesLn 26$6K$31K
Net assetsLn 32$438K$766K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$153K$153K
Legal feesLn 11b$10K$10K
Other expenses (24a–d)Ln 24$10K$5K$5K
Total functional expensesLn 25$172K$158K$14K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $510K$91K$419K$896K 990 PDF
FY2023 $57$182K−$181K$477K 990 PDF
FY2022 Not on file
FY2021 $0$0$0$766K 990 PDF
FY2020 Viewing $500K$172K$328K$766K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $500,042 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $500,000$500,000
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $90$42
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $500,090$500,042
I-13 Grants and similar amounts paidPrior year $46,575$152,865
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $15,021$19,187
I-18 Total expensesPrior year $61,596$172,052
I-19 Revenue less expensesPrior year $438,494$327,990
Part VI · Governance 4 to look at
VI-1a Voting members of the governing body0
VI-1b Independent voting members0
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $500,042 across 4 lines filed
VIII-1f All other contributions, gifts and grants$500,000
VIII-1h Total contributions, gifts and grants$500,000
VIII-3 Investment incomeRelated to mission $42$42
VIII-12 Total revenueRelated to mission $42 · Unrelated business $0 · Excluded from tax $0$500,042
Part IX · Statement of functional expenses $172,052 across 3 lines filed
IX-1 Grants to domestic organizationsPrograms $152,865$152,865
IX-11b Legal feesManagement $9,645$9,645
IX-24 Other expenses (24a–d)Programs $4,771 · Management $4,771$9,542
IX-25 Total functional expensesPrograms $157,636 · Management $14,416 · Fundraising $0$172,052
Part X · Balance sheet $797,486 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $444,496$297,486
X-4 Accounts receivableStart of year $0$500,000
X-16 Total assetsStart of year $444,496$797,486
X-17 Accounts payable and accrued expensesStart of year $6,000$31,000
X-26 Total liabilitiesStart of year $6,000$31,000
X-27 Net assets without donor restrictionsStart of year $90$70,723
X-28 Net assets with donor restrictionsStart of year $438,406$695,763
X-32 Total net assets or fund balancesStart of year $438,496$766,486
X-33 Total liabilities and net assetsStart of year $444,496$797,486
Part XI · Reconciliation of net assets $766,486 net assets at year end
XI-1 Total revenue$500,042
XI-2 Total expenses$172,052
XI-3 Revenue less expenses$327,990
XI-4 Net assets at start of year$438,496
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$766,486

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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