THE EAST BOSTON FOUNDATION

EIN: 311601979 501(c)(3) Philanthropy & Grantmaking

EAST BOSTON, MA

Total Revenue
$695,346
Total Expenses
$688,089
Total Assets
$1,445,987
Net Assets
$1,264,871
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1998
Legal Domicile
MA
Principal Officer
LORENE SCHETTINO ESQ
Phone
6175616336
Tax Period
2024-01-01 to 2024-12-31

THE EAST BOSTON FOUNDATION, founded in 1998, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $695K in total revenue in fiscal year 2024.

Mission

EAST BOSTON FOUNDATION IS A NON-PROFIT ORGANIZATION THAT PROVIDES GRANTS FOR CHILD CARE AND EARLY EDUCATION, ELEMENTARY EDUCATION, SECONDARY & HIGH SCHOOL EDUCATION, SUMMER & AFTER SCHOOL PROGRAMS, SENIOR CITIZEN & ADULT EDUCATION & RECREATION, ESL INSTRUCTION, COMMUNITY & CULTURAL EVENTS, SPORTS & RECREATION PROGRAMS, BUSINESS DEVELOPMENT & SEMINARS, CAPITAL IMPROVEMENT & COMMUNITY BEAUTIFICATION, AND MORE TO IMPROVE THE QUALITY OF LIFE FOR THE COMMUNITY OF EAST BOSTON.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $687,000
Program Service Revenue $0
Investment Income $8,346
Other Revenue $0
TOTAL REVENUE $695,346

Expense Breakdown

Grants Paid $624,120
Salaries & Benefits $43,214
Fundraising Expenses $0
Program Expenses $624,120
Other Expenses $20,755
TOTAL EXPENSES $688,089

Year-over-Year Comparison

2024 2023 Change
Revenue $695,346 $697,247 0.0%
Expenses $688,089 $502,808 +0.4%
Net Income $7,257 $194,439 -1.0%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

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Liquidity & Cash Position

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Governance

Voting Members
9
Independent Members
9
Employees
1
Volunteers
N/A

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$40,000
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CHRISTOPHER MARCHI DIRECTOR 1.00
Director
$0 $0 $0
NINA GAETA COLETTA DIRECTOR 1.00
Director
$0 $0 $0
KANNAN THIRU DIRECTOR 1.00
Director
$0 $0 $0
JEFF DRAGO ESQ DIRECTOR 1.00
Director
$0 $0 $0
DAVID ARINELLA TREASURER 1.00
Officer Director
$0 $0 $0
AUDRY NAGLE DIRECTOR 1.00
Director
$0 $0 $0
THOMAS TASSINARI CHAIRPERSON 1.00
Officer Director
$0 $0 $0
GLORIBELL MOTA TRUSTEE 1.00
Director
$0 $0 $0
FRAN CARBONE TRUSTEE 1.00
Director
$0 $0 $0
JAMES KEARNEY TRUSTEE 1.00
Director
$0 $0 $0
LORENE SCHETTINO EXECUTIVE DIRECTOR 20.00
Officer
$0 $0 $40,000
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $695,346 $688,089 $1,445,987 $7,257
2023 $697,247 $502,808 $1,483,126 $194,439
2022 $3,478 $414,476 $1,280,592 $-410,998
2021 $689,802 $781,153 $1,612,843 $-91,351
2020 $259,319 $337,680 $1,739,438 $-78,361
2019 $758,718 $524,041 $1,733,013 $234,677
2018 $713,351 $406,103 $1,438,433 $307,248
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