Demolay Foundation Of Massachusetts in Boston, Massachusetts (MA)

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Demolay Foundation Of Massachusetts
Employer Identification Number (EIN)042325981
Name of OrganizationDemolay Foundation Of Massachusetts
Address186 Tremont St, Boston, MA 02111-1014
ActivitiesScholarships (other)
SubsectionCharitable Organization
Ruling Date05/1969
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationTrust
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$1,000,000 to $4,999,999
Income$100,000 to $499,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$1,035,072
Amount of Income$369,142
Form 990 Revenue Amount$161,802
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Scholarships, Student Financial Aid Services, Awards


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Amount of income in 2013: $369,142 (it was $1,036,613 in 2012)
Demolay Foundation Of Massachusetts: 

 $369,142
Other organizations performing similar types of work: 

 $299,534

Assets in 2013: $1,035,072 (it was $939,806 in 2012)
This organization: 

 $1,035,072
Other organizations performing similar types of work: 

 $1,135,383

Expenses in 2013: $184,280
Demolay Foundation Of Massachusetts: 

 $184,280
Other organizations performing similar types of work: 

 $135,405

Income to expenses ratio in 2013: 2.0
Demolay Foundation Of Massachusetts: 

 2.0
Other organizations performing similar types of work: 

 1.8

Grants share in income in 2013: 47.0%
This organization: 

 47.0%
Other organizations performing similar types of work: 

 74.1%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Functional expenses for 2013

Support schedule

Checklist
20122013
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?YesYes
Is the organization required to complete Schedule B, Schedule of Contributors?NoNo
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?NoNo
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?NoNo
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?NoNo
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?NoNo
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?NoNo
Did the organization maintain collections of works of art, historical treasures, or other similar assets?NoNo
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?YesNo
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?NoYes
Did the organization report an amount for land, buildings, and equipment?NoNo
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?NoNo
Did the organization report an amount for investments-program related that is 5% or more of its total assets?NoNo
Did the organization report an amount for other assets that is 5% or more of its total assets?NoNo
Did the organization report an amount for other liabilities?NoNo
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?NoNo
Did the organization obtain separate, independent audited financial statements for the tax year?NoNo
Was the organization included in consolidated, independent audited financial statements for the tax year?NoNo
Is the organization a school described in section 170(b)(1)(A)(ii)?NoNo
Did the organization maintain an office, employees, or agents outside of the United States?NoNo
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?NoNo
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?NoNo
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?NoNo
Did the organization report more than $15,000 total of fundraising event gross income and contributions?NoNo
Did the organization report more than $15,000 of gross income from gaming activities?NoNo
Did the organization operate one or more hospital facilities?NoNo
Did the organization attach a copy of its audited financial statements?NoNo
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?NoNo
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?NoNo
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?NoNo
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?NoNo
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?NoNo
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?NoNo
Did the organization engage in an excess benefit transaction with a disqualified person during the year?NoNo
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?NoNo
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?NoNo
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?NoNo
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?NoNo
A family member of a current or former officer, director, trustee, or key employee?NoNo
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?NoNo
Did the organization receive more than $25,000 in non-cash contributions?NoNo
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?NoNo
Did the organization liquidate, terminate, or dissolve and cease operations?NoNo
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?NoNo
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?NoNo
Was the organization related to any tax-exempt or taxable entity?NoNo
Did the organization have a controlled entity within the meaning of section 512(b)(13)?NoNo
Did the organization make any transfers to an exempt non-charitable related organization?NoNo
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?NoNo
Statements Regarding Other IRS Filings and Tax Compliance
2010201120122013
The number reported in Box 3 of Form 1096001
The number of Forms W-2G000
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?YesYesYes
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return000
Did the organization file all required federal employment tax returns?NoNoNo
Did the organization have unrelated business gross income of $1,000 or more during the year?NoNoNoNo
Has it filed a Form 990-T for this year?NoNoNo
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?NoNoNo
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?NoNoNo
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?NoNoNo
Did the organization file Form 8886-T?NoNoNo
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?NoNoNo
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?NoNoNo
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?NoNoNo
Did the organization notify the donor of the value of the goods or services provided?NoNoNo
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?NoNoNo
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNoNo
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNoNo
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?NoNoNo
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?NoNoNo
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?NoNoNo
Did the sponsoring organization make any taxable distributions under section 4966?NoNoNo
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?NoNoNo
Initiation fees and capital contributions$0$0$0$0
Gross receipts for public use of club facilities $0$0$0$0
Gross income from members or shareholders$0$0$0$0
Gross income from other sources$0$0$0$0
Is the organization filing Form 990 in lieu of Form 1041?NoNoNo
The amount of tax-exempt interest received or accrued during the year$0$0$0
Is the organization licensed to issue qualified health plans in more than one state?NoNoNo
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans$0$0$0
The amount of reserves on hand$0$0$0
Did the organization receive any payments for indoor tanning services during the tax year?NoNoNo
Has it filed a Form 720 to report these payments?NoNoNo
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
20122013
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization$0$0
Total reportable compensation from related organizations$0$0
Total estimated amount of other compensation from the organization and related organizations$0$0
Total number of individuals who received more than $100,000 of reportable compensation from the organization00
Total number of independent contractors who received more than $100,000 of compensation from the organization00
Statement of Revenue
2010201120122013
Total revenue$144,128$111,862$352,373$161,802
Contributions, Gifts, Grants and Other Similar Amounts$87,125$82,317$97,714$76,048
Program Service Revenue$39,929$38,005$32,099$37,338
900099$38,005$32,099$37,338
All other program service revenue$0$0$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$20,437$23,308$27,544$18,651
Income from investment of tax-exempt bond proceeds$0$0$0$0
Royalties$0$0$0$0
Net rental income$0$0$0$0
Net gain/loss from sales of assets other than inventory$-3,363$-31,768$188,114$17,714
Gross amount from sales of assets other than inventory (Securities / Other)$185,827 / $0$161,371 / $0$872,354 / $0$225,054 / $0
Less: cost or other basis and sales expenses (Securities / Other)$189,190 / $0$193,139 / $0$684,240 / $0$207,340 / $0
Gain or (loss) (Securities / Other)$-3,363 / $0$-31,768 / $0$188,114 / $0$17,714 / $0
Net income/loss from fundraising events$0$0$0$0
Net income/loss from gaming activities$0$0$0$0
Net income/loss from sales of inventory$0$0$0$0
Miscellaneous Revenue$0$0$6,902$12,051
900099$0$6,902$12,051
All other revenue$0$0$0
Statement of Functional Expenses
2010201120122013
Total functional expenses$121,833$149,367$132,935$184,280
Grants and other assistance to domestic organizations and domestic governments$0$0$1,000
Grants and other assistance to domestic individuals$12,105$2,330$4,500
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$0$0$0
Benefits paid to or for members$0$0$0
Compensation of current officers, directors, trustees, and key employees$0$0$0$0
Compensation not included above, to disqualified persons$0$0$0
Other salaries and wages$0$0$0$0
Pension plan accruals and contributions$0$0$0
Other employee benefits$0$0$0
Payroll taxes$0$0$0$0
Fees for services (non-employees)
Management$0$0$0
Legal$0$0$0
Accounting$0$0$0
Lobbying$0$0$0
Professional fundraising services$0$0$0$0
Investment management fees$6,240$6,642$10,179
Other$0$4,401$10,458
Advertising and promotion$13,183$10,330$10,045
Office expenses$5,546$7,157$14,616
Information technology$1,268$1,590$6,164
Royalties$0$0$0
Occupancy$1,950$1,500$1,547
Travel$0$0$0
Payments of travel or entertainment expenses for any federal, state, or local public officials$0$0$0
Conferences, conventions, and meetings$11,006$0$17,999
Interest$0$0$0
Payments to affiliates$0$0$0
Depreciation, depletion, and amortization$0$0$0
Insurance$4,737$4,693$4,561
Other expenses$19,867$20,464$18,428
Other expenses$21,020$20,783$25,317
Other expenses$40,747$45,487$47,294
Other expenses$6,790$3,878$8,310
Other expenses$0$0$3,862
Balance Sheet
2010201120122013
Total assets$768,357$720,368$939,806$1,035,072
Cash - non-interest-bearing$8,495$39,959$15,807
Savings and temporary cash investments$0$0$0
Pledges and grants receivable, net$0$0$0
Accounts receivable, net$0$0$1,650
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$0$0$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations$0$0$0
Notes and loans receivable, net$0$0$0
Inventories for sale or use$0$0$0
Prepaid expenses and deferred charges$0$0$0
Land, buildings, and equipment: cost or other basis$0$0$0
Investments - publicly traded securities$711,873$899,847$1,017,615
Investments - other securities$0$0$0
Investments - program-related$0$0$0
Intangible assets$0$0$0
Other assets$0$0$0
Total liabilities$10,484$0$0$0
Total net assets or fund balances$757,873$720,368$939,806$1,035,072
Unrestricted net assets$0$0$0
Temporarily restricted net assets$0$0$0
Permanently restricted net assets$0$0$0
Capital stock or trust principal, or current funds$711,873$899,847$1,017,615
Paid-in or capital surplus, or land, building, or equipment fund$0$0$0
Retained earnings, endowment, accumulated income, or other funds$8,535$8,495$39,959$17,457
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:An organization that normally receives: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Section 509(a)(2) (for 2009 - 2013)
2009 - 2013 Total
Public support$618,874
Subtotal$618,874
Gifts, grants, contributions, and membership fees received$433,145
Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose$185,729
Gross receipts from activities that are not an unrelated trade or business under section 513$0
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
Less$0
Amounts received from disqualified persons$0
Amounts received from other than disqualified persons that exceed the greater of $5,000 or 1% of the total support$0
Total support$728,953
Public support$618,874
Subtotal$110,079
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$110,079
Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975$0
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income$0
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Organizations performing similar types of work
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1Massachusetts Higher Education Assistance Corporation, American Student Assistance100 Cambridge St Ste 1600, Boston, MA 02114-2518MA1958-12$369,954,484
2Catholic Schools Foundation Inc260 Franklin Street, Boston, MA 02110-3112MA1984-10$38,958,037
3Boston Latin School Association27 School St Ste 300, Boston, MA 02108-4303MA1960-09$19,615,462
4Francis Ouimet Scholarship Fund Inc300 Arnold Palmer Blvd, Norton, MA 02766-1365MA1953-11$14,154,453
5Worcester State Foundation Inc486 Chandler St, Worcester, MA 01602-2861MA1993-12$3,352,666
6W W Wannamaker Citadel Star Of The West MaPO BOX 2904, Wilson, NC 27894-2904NC1953-02$2,852,405
7Wellesley Students Aid Society Inc106 Central Street, Wellesley, MA 02481-8203MA1941-02$2,698,625
8Robert Ahern Scholarship TrustWOBURN FOREIGN MOTORS PO BOX 2217, Woburn, MA 01888MA1985-08$1,379,381
9Theta Delta Chi Educational Foundation Inc214 Lewis Wharf, Boston, MA 02110-3927MA1990-01$1,046,380
10Teri Financial Services Inc31 Saint James Avenue, Boston, MA 02116-4101MA1995-10$90,064
11Top Ladies Of Distinction Inc, Parent2914 Southmore Blvd, Houston, TX 77004-7710TX1974-11$557,438
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Number of organizations performing similar types of work
Alaska3
Alabama12
Arkansas12
Arizona19
California92
Colorado3
Connecticut3
District of Columbia7
Delaware2
Florida9
Georgia9
Hawaii3
Iowa8
Idaho1
Illinois28
Indiana7
Kentucky4
Louisiana4
Massachusetts15
Maryland8
Michigan3
Minnesota27
Missouri8
Mississippi3
Montana1
North Carolina16
North Dakota2
Nebraska2
New Hampshire2
New Jersey12
New Mexico1
Nevada1
New York16
Ohio17
Oklahoma3
Oregon1
Pennsylvania16
Rhode Island1
South Carolina5
South Dakota2
Tennessee5
Texas37
Utah1
Virginia14
Vermont1
Washington5
Wisconsin12
Wyoming3
International3
Total469

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