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Needham Exchange Foundation INC FY2023 filing

Tax-deductible

Needham, MA501(c)(3)Human Services EIN 86-2768221Revenue −$329 in FY2023

On file with the IRSneedhamexchangefoundation.orgP O Box 92508, 02492-0000 · Needham, MATax-exempt since May 2022Publicly supported charity — 170(b)(1)(A)(vi)

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The Needham Exchange Foundation (nxf) seeks to foster and enhance the lives of all Needham residents, spanning different age groups, through a diverse range of initiatives. Working in conjunction with the Needham Exchange club, nxf supports programs that include, but are not limited to, granting academic awards and scholarships, funding child abuse prevention (cap) initiatives, and providing services and activities for seniors in our community. The Needham Exchange Foundation strives to create a vibrant and supportive community where every resident can thrive.

501(c)(3) charity; gifts are tax-deductible.
63¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $22K a year · 68% 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
63%
of spending
Worth a look: 63% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
75 mo
of spending, in cash
Plus $88K in investments, Pt X · Ln 11–13
Looks good: 74.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $12K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
−$329
-102% vs prior year
Spent
$4K
To programs
63%
Net assets
$113K
By yearFY2021–FY2025
Revenue
−$329
FY2023▼ -102%
Tap a bar for its year
Revenue by fiscal year
FY2021$125K
FY2022$15K
FY2023−$329
FY2024$12K
FY2025$10K
Expenses
$4K
FY2023▼ -53%
Tap a bar for its year
Expenses by fiscal year
FY2021$2K
FY2022$8K
FY2023$4K
FY2024$14K
FY2025$23K
Net assets
$113K
FY2023▲ +10%
Tap a bar for its year
Net assets by fiscal year
FY2021$123K
FY2022$102K
FY2023$113K
FY2024$110K
FY2025$101K

From the FY2023 Form 990 (year ending June 2023) · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 2022.

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

Where the money goes

63 cents of each dollar spent went to programs.

Program services 63% · $2K Management & general 37% · $1K

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

3 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
James Ruelbach
President and Director
$0Pt VII · Sec A
John Terry
Treasurer and Director
$0Pt VII · Sec A
Kenneth Raffol
Clerk and Director
$0Pt VII · Sec A
See Needham Exchange Foundation 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

Supports residents of all ages through scholarships, child abuse prevention, and senior programs.

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Provided by the organization

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2 programs · $2K · in their own filed words · FY2022
01

The child abuse prevention program's (capp) goal is to ensure that all children receive their basic right to safety so that they can have the opportunity to grow and thrive. Teaching children to recognize, resist and report physical and sexual abuse helps to keep them safe and works to end the cycle of abuse.

$2Kprogram expense
02

The foundation assists other domestic organizations and domestic governments with funding for child abuse prevention programs, food and medical programs for the benefit of children, as well as funding for programs that educate and support parents to provide a stable family environment to raise their children in.

Pt IX · col B

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 · FY2021
National Exchange ClubFY2021$12K
Total grants receivedfrom 1 funder$12K
Grants paid · 3 grants · $33K · 2023–2024
Charles River Association for Retarded Citizens INCMA · FY2024$12,000
Friends of the Center at the Heights INCMA · FY2024$10,000
National Exchange ClubMA · FY2023$11,390

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
−$329
Ln 12
Investment incomeLn 3$2K
Gifts and grantsLn 1h$500
Money outPt IX
$4K
Ln 25
Programscol B$2K
Managementcol C$1K
Owns and owesPt X
$113K
net assets · Ln 32
Cash and savingsLn 1–2$24K
Total assetsLn 16$113K
LiabilitiesLn 26$0
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$500
Investment incomeLn 3$2K
Gains on assetsLn 7−$3K
Total revenueLn 12−$329
Assets in detailPt X, end of year
CashLn 1$24K
Cash and savings togetherLn 1–2$24K
InvestmentsLn 11–13$88K
Total assetsLn 16$113K
LiabilitiesLn 26$0
Net assetsLn 32$113K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$28K$24K
InvestmentsLn 11–13$74K$88K
Total assetsLn 16$102K$113K
LiabilitiesLn 26$0$0
Net assetsLn 32$102K$113K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$1K$1K
Office expensesLn 13$202$202
Other expenses (24a–d)Ln 24$3K$2K$60
Total functional expensesLn 25$4K$2K$1K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $10K$23K−$13K$101K 990 PDF
FY2024 $12K$14K−$2K$110K 990 PDF
FY2023 Viewing −$329$4K−$4K$113K 990 PDF
FY2022 $15K$8K$7K$102K 990 PDF
FY2021 $125K$2K$123K$123K 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 FY2023 990 (6 parts)
Part I · Summary −$329 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $13,195$500
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $2,033−$829
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $15,228−$329
I-13 Grants and similar amounts paidPrior year $3,750$0
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 $4,634$3,914
I-18 Total expensesPrior year $8,384$3,914
I-19 Revenue less expensesPrior year $6,844−$4,243
Part VI · Governance 7 of 7 board members independent, 3 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
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
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue −$329 across 5 lines filed
VIII-1f All other contributions, gifts and grants$500
VIII-1h Total contributions, gifts and grants$500
VIII-3 Investment incomeExcluded from tax $1,962$1,962
VIII-7 Net gain or loss on sales of assetsRelated to mission −$2,791−$2,791
VIII-12 Total revenueRelated to mission −$2,791 · Unrelated business $0 · Excluded from tax $1,962−$329
Part IX · Statement of functional expenses $3,914 across 3 lines filed
IX-11c Accounting feesManagement $1,200$1,200
IX-13 Office expensesManagement $202$202
IX-24 Other expenses (24a–d)Programs $2,452 · Management $60$2,512
IX-25 Total functional expensesPrograms $2,452 · Management $1,462 · Fundraising $0$3,914
Part X · Balance sheet $112,582 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $27,793$24,379
X-11 Publicly traded securitiesStart of year $74,287$88,203
X-16 Total assetsStart of year $102,080$112,582
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $102,080$112,582
X-32 Total net assets or fund balancesStart of year $102,080$112,582
X-33 Total liabilities and net assetsStart of year $102,080$112,582
Part XI · Reconciliation of net assets $112,582 net assets at year end
XI-1 Total revenue−$329
XI-2 Total expenses$3,914
XI-3 Revenue less expenses−$4,243
XI-4 Net assets at start of year$102,080
XI-5 Net unrealized gains (losses) on investments$14,744
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$112,582

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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