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Needham Exchange Foundation INC FY2024 filing

Tax-deductible

Needham, MA501(c)(3)Human Services EIN 86-2768221Revenue $12K in FY2024

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.
95¢ 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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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
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
95%
of spending
Looks good: 95% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
4 mo
of spending, in cash
Plus $105K in investments, Pt X · Ln 11–13
Looks good: 4.3 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
$12K
×37 vs prior year
Spent
$14K
To programs
95%
Net assets
$110K
By yearFY2021–FY2025
Revenue
$12K
FY2024▲ ×37
Tap a bar for its year
Revenue by fiscal year
FY2021$125K
FY2022$15K
FY2023−$329
FY2024$12K
FY2025$10K
Expenses
$14K
FY2024▲ +259%
Tap a bar for its year
Expenses by fiscal year
FY2021$2K
FY2022$8K
FY2023$4K
FY2024$14K
FY2025$23K
Net assets
$110K
FY2024▼ -2%
Tap a bar for its year
Net assets by fiscal year
FY2021$123K
FY2022$102K
FY2023$113K
FY2024$110K
FY2025$101K

From the FY2024 Form 990 (year ending June 2024) · see the original

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You’re viewing the FY2024 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

95 cents of each dollar spent went to programs.

Program services 95% · $13K Management & general 3% · $432 Fundraising 2% · $313

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 (FY2023); the FY2024 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 · $13K · in their own filed words · FY2023
01

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.

$12Kprogram expense
02

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.

$1Kprogram 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 · 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 FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$12K
Ln 12
Gifts and grantsLn 1h$7K
Investment incomeLn 3$4K
Money outPt IX
$14K
Ln 25
Programscol B$13K
Managementcol C$432
Fundraisingcol D$313
Owns and owesPt X
$110K
net assets · Ln 32
Cash and savingsLn 1–2$5K
Total assetsLn 16$110K
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$7K
Investment incomeLn 3$4K
Gains on assetsLn 7$1K
Total revenueLn 12$12K
Assets in detailPt X, end of year
CashLn 1$5K
Cash and savings togetherLn 1–2$5K
InvestmentsLn 11–13$105K
Total assetsLn 16$110K
LiabilitiesLn 26$0
Net assetsLn 32$110K
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 FY24End FY24
Cash and savingsLn 1–2$24K$5K
InvestmentsLn 11–13$88K$105K
Total assetsLn 16$113K$110K
LiabilitiesLn 26$0$0
Net assetsLn 32$113K$110K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$13K$13K
Office expensesLn 13$378$378
Other expenses (24a–d)Ln 24$567$200$54$313
Total functional expensesLn 25$14K$13K$432$313

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $10K$23K−$13K$101K 990 PDF
FY2024 Viewing $12K$14K−$2K$110K 990 PDF
FY2023 −$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 FY2024 990 (6 parts)
Part I · Summary $11,538 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $500$7,038
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year −$829$4,500
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year −$329$11,538
I-13 Grants and similar amounts paidPrior year $0$13,090
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 $3,914$945
I-18 Total expensesPrior year $3,914$14,035
I-19 Revenue less expensesPrior year −$4,243−$2,497
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 $11,538 across 5 lines filed
VIII-1f All other contributions, gifts and grants$7,038
VIII-1h Total contributions, gifts and grants$7,038
VIII-3 Investment incomeExcluded from tax $3,134$3,134
VIII-7 Net gain or loss on sales of assetsRelated to mission $1,366$1,366
VIII-12 Total revenueRelated to mission $1,366 · Unrelated business $0 · Excluded from tax $3,134$11,538
Part IX · Statement of functional expenses $14,035 across 3 lines filed
IX-1 Grants to domestic organizationsPrograms $13,090$13,090
IX-13 Office expensesManagement $378$378
IX-24 Other expenses (24a–d)Programs $200 · Management $54 · Fundraising $313$567
IX-25 Total functional expensesPrograms $13,290 · Management $432 · Fundraising $313$14,035
Part X · Balance sheet $110,085 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $24,379$5,024
X-11 Publicly traded securitiesStart of year $88,203$105,061
X-16 Total assetsStart of year $112,582$110,085
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $112,582$110,085
X-32 Total net assets or fund balancesStart of year $112,582$110,085
X-33 Total liabilities and net assetsStart of year $112,582$110,085
Part XI · Reconciliation of net assets $110,085 net assets at year end
XI-1 Total revenue$11,538
XI-2 Total expenses$14,035
XI-3 Revenue less expenses−$2,497
XI-4 Net assets at start of year$112,582
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$110,085

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

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