Financial Literacy Trust Fund in Boston, Massachusetts (MA)
Table of contents:
| Financial Literacy Trust Fund | |
| Employer Identification Number (EIN) | 383865038 |
| Name of Organization | Financial Literacy Trust Fund |
| In Care of Name | Steven Grossman |
| Address | 24 Beacon St State House Room 227, Boston, MA 02133 |
| Website | http://www.mass.gov/treasury/financial-education/financial-literacy-trust-fund/ |
| Subsection | Educational Organization |
| Ruling Date | 08/2012 |
| Deductibility | Contributions are deductible |
| Foundation | Organization which receives a substantial part of its support from a governmental unit or the general public |
| Organization | Association |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 2012 |
| Assets | $25,000 to $99,999 |
| Income | $25,000 to $99,999 |
| Filing Requirement | 990 - Required to file Form 990-N - Income less than $25,000 per year |
| Asset Amount | $45,042 |
| Amount of Income | $43,500 |
| Form 990 Revenue Amount | $43,500 |
| National Taxonomy of Exempt Entities (NTEE) | Human Services - Multipurpose and Other: Financial Counseling, Money Management |
Non-representatives - add comments:
Amount of income in 2012: $43,500 (it was $43,500 in 2014)
| This organization: | $43,500 |
| Other organizations performing similar types of work: | $156,466 |
Assets in 2012: $45,042 (it was $45,042 in 2014)
| This organization: | $45,042 |
| Other organizations performing similar types of work: | $45,042 |
Expenses in 2014: $38,458
| Financial Literacy Trust Fund: | $38,458 |
| Other organizations performing similar types of work: | $135,428 |
Income to expenses ratio in 2014: 1.1
| Financial Literacy Trust Fund: | 1.1 |
| Other organizations performing similar types of work: | 1.3 |
Grants share in income in 2014: 100.0%
| Financial Literacy Trust Fund: | 100.0% |
| Other organizations performing similar types of work: | 90.6% |
Support schedule
| Revenue, Expenses, and Changes in Net Assets or Fund Balances | ||
| 2012 | 2014 | |
|---|---|---|
| Total revenue | $20,000 | $43,500 |
| Contributions, gifts, grants, and similar amounts received | $20,000 | $43,500 |
| Program service revenue including government fees and contracts | $0 | $0 |
| Membership dues and assessments | $0 | $0 |
| Investment income | $0 | $0 |
| Gain/Loss from sale of assets other than inventory | $0 | $0 |
| Net income/loss from gaming and fundraising events | $0 | $0 |
| Gross profit/loss from sales of inventory | $0 | $0 |
| Other revenue | $0 | $0 |
| Total expenses | $0 | $38,458 |
| Total net assets | $20,000 | $45,042 |
| Excess/Deficit for the year | $20,000 | $5,042 |
| Net assets or fund balances at beginning of year | $0 | $40,000 |
| Other changes in net assets or fund balances | $0 | $0 |
| Net assets or fund balances at end of year | $20,000 | $45,042 |
| Balance Sheets | ||
| 2012 | 2014 | |
|---|---|---|
| Total assets | $20,000 | $45,042 |
| Total liabilities | $0 | $0 |
| Net assets or fund balances | $20,000 | $45,042 |
| Other Information | ||
| 2012 | 2014 | |
|---|---|---|
| Did the organization engage in any significant activity not previously reported to the IRS? | No | No |
| Were any significant changes made to the organizing or governing documents? | No | No |
| Did the organization have unrelated business gross income of $1,000 or more during the year from business activities | No | No |
| Has the organization filed a Form 990-T for the year? | No | No |
| Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year? | No | No |
| Amount of political expenditures, direct or indirect | $0 | $0 |
| Did the organization file Form 1120-POL for this year? | No | No |
| Did the organization borrow from, or make any loans to, any officer, director, trustee, or key employee or were any such loans made in a prior year and still outstanding at the end of the tax year covered by this return? | No | No |
| Total amount involved | $0 | $0 |
| Initiation fees and capital contributions | $0 | $0 |
| Gross receipts for public use of club facilities | $0 | $0 |
| Did the organization engage in any section 4958 excess benefit transaction during the year, or did it engage in an excess benefit transaction in a prior year that has not been reported on any of its prior Forms 990 or 990-EZ? | No | No |
| At any time during the tax year, was the organization a party to a prohibited tax shelter transaction? | No | No |
| Reason for Public Charity Status (for 2014) | |
| The organization is not a private foundation because it is: | An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi) |
| Number of organizations supported | 0 |
| Sum of amounts of support | $0 |
| Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2010 - 2014) | |
| 2010 - 2014 Total | |
|---|---|
| Public Support | $232,548 |
| Subtotal Support | $265,393 |
| Gifts, grants, contributions, and membership fees received | $93,500 |
| 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 | $171,893 |
| The portion of total contributions by each person (other than a governmental unit or publicly supported organization) that exceeds 2% of the total support | $32,845 |
| Total Support | $265,393 |
| Public Support | $265,393 |
| Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources | $0 |
| Net income from unrelated business activities, whether or not the business is regularly carried on | $0 |
| Other income. Do not include gain or loss from the sale of capital assets | $0 |
| Gross receipts from related activities, etc. | $0 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Cambridge Credit Counseling Corp | 67 Hunt St Ste 305, Agawam, MA 01001-1913 | MA | 2012-12 | $7,084,510 |
| 2 | American Consumer Credit Counseling Inc | 130 Rumford Ave Ste 202, Auburndale, MA 02466-1370 | MA | 1994-02 | $14,413,580 |
| 3 | Uecdf Corporation | 1542 Columbus Avenue Suite 2, Roxbury, MA 02119-1026 | MA | 2009-01 | $531,060 |
| 4 | Massachusetts 911 Fund Inc | 470 Atlantic Ave Fl 4, Boston, MA 02210-2241 | MA | 2001-01 | $202,244 |
| 5 | Invest In Girls Inc | 125 Lake St, Sherborn, MA 01770-1607 | MA | 2013-05 | $191,362 |
| 6 | Class Action Network Inc, Class Action | 30 Germania St Building L, Jamaica Plain, MA 02130-2315 | MA | 2005-03 | $146,247 |
| 7 | Americans For Fairness In Lending Inc | 7 Winthrop Square, Boston, MA 02110-1239 | MA | 2007-06 | $129,857 |
| 8 | Budget Buddies Inc | 14 High St, Chelmsford, MA 01824-3420 | MA | 2012-03 | $66,258 |
| 9 | Empower Yourself Ltd | 780 Boylston Street, Boston, MA 02199 | MA | 2012-01 | $60,398 |
| 10 | Credit Counseling Solutions Inc | PO BOX 7, Peabody, MA 01960 | MA | 1996-05 | $60,000 |
| 11 | Financial Literacy Trust Fund | 24 Beacon St State House Room 227, Boston, MA 02133 | MA | 2012-08 | $43,500 |
| 12 | Moving From Debt To Assets Inc | 594 Columbia Rd Ste 203, Dorchester, MA 02125-3436 | MA | 2014-05 | $1,300 |
| 13 | Consumer Debt Management Northeast | 49 Kimball Rd, Methven, MA 01844-2053 | MA | 2002-06 | $0 |
| 14 | Early Investors Inc | 22 Joseph Road, Braintree, MA 02184 | MA | 2007-11 | $0 |
| 15 | Faith Partnership Inc | 4 Allston St, Dorchester, MA 02124 | MA | 2002-06 | $0 |
| 16 | Rtn Goodworks Foundation Inc | 600 Main Street, Waltham, MA 02452 | MA | 2011-07 | $0 |
| 17 | Smart George Outreach Llc, Daniel Scheerer Mbr | Local, Stoneham, MA 02180 | MA | 2011-03 | $0 |
| 18 | Tax Solutions Foundation Inc | 218 Shrewsbury St, Worcester, MA 01604 | MA | 2011-07 | $0 |
| 19 | Vincita Institute, The Vincita Institute | Po Box 283, Grove Hall, MA 02121 | MA | 2011-12 | $0 |
| 20 | Young Womens Financial Network Inc | 12 Washington Street, Plainville, MA 02762-2641 | MA | 2005-01 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 1,240 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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