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Nonprofiteer
← NEW HAMPSHIRE CHARITABLE FOUNDATION

Form 990 for tax year 2022

Filed by NEW HAMPSHIRE CHARITABLE FOUNDATION.

Totals

Total revenue
$65,087,484
Total expenses
$72,174,040
Contributions and grants received
$45,666,774
Grants paid
$59,483,372
Program service revenue
$125,821
Investment income
$20,195,254
Other revenue
-$900,365
Total assets, end of year
$906,709,858
Total liabilities, end of year
$64,521,161
Net assets or fund balances, end of year
$842,188,697
Program services expenses (Part IX)
$64,883,356
Management and general expenses
$5,416,261
Fundraising expenses
$1,874,423
Program service expenses (Part III)
$64,883,356

Program services were 89.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1a · Federated campaigns

    $3,675

  • 1f · All other contributions, gifts and grants

    $45,663,099

  • 1g · Noncash contributions included above

    $13,196,949

  • 2a · Program service revenue: Foundation Admin Fees

    total $102,800 · related or exempt $102,800

  • 2b · Program service revenue: Program Loan Interest

    total $13,421 · related or exempt $13,421

  • 2c · Program service revenue: Grant Administration

    total $9,474 · related or exempt $9,474

  • 2d · Program service revenue: Scholarship Loan Interest

    total $126 · related or exempt $126

  • 3 · Investment income

    total $6,071,699 · unrelated business -$347,387 · excluded $6,419,086

  • 6a · Gross rents

    real property $46,800

  • 6b · Less rental expenses

    real property $40,381

  • 6c · Rental income or loss

    real property $6,419

  • 6d · Net rental income or loss

    total $6,419 · excluded $6,419

  • 7a · Gross sales of assets other than inventory

    securities $92,263,109

  • 7b · Less cost or other basis and sales expenses

    securities $78,139,554

  • 7c · Gain or loss

    securities $14,123,555

  • 7d · Net gain or loss

    total $14,123,555 · excluded $14,123,555

  • 11a · Other revenue: Grantmaking Administration

    total $87,666 · unrelated business $87,666

  • 11b · Other revenue: Discontinued Operations

    total -$994,450 · excluded -$994,450

  • 11e · Other revenue, total

    -$906,784

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $49,713,691 · program services $49,713,691

  • 2 · Grants to domestic individuals

    total $8,014,133 · program services $8,014,133

  • 3 · Grants to foreign organizations and individuals

    total $1,755,548 · program services $1,755,548

  • 5 · Compensation of officers, directors and key employees

    total $1,387,642 · program services $639,662 · management and general $461,046 · fundraising $286,934

  • 7 · Other salaries and wages

    total $4,122,651 · program services $1,900,441 · management and general $1,369,745 · fundraising $852,465

  • 8 · Pension plan contributions

    total $515,909 · program services $237,819 · management and general $171,411 · fundraising $106,679

  • 9 · Other employee benefits

    total $569,609 · program services $262,573 · management and general $189,253 · fundraising $117,783

  • 10 · Payroll taxes

    total $370,958 · program services $171,001 · management and general $123,251 · fundraising $76,706

  • 11b · Fees: legal

    total $41,315 · program services $20,247 · management and general $12,986 · fundraising $8,082

  • 11c · Fees: accounting

    total $62,570 · program services $28,843 · management and general $20,789 · fundraising $12,938

  • 11f · Fees: investment management

    total $2,404,432 · management and general $2,404,432

  • 11g · Fees: other

    total $1,537,188 · program services $1,287,853 · management and general $153,687 · fundraising $95,648

  • 13 · Office expenses

    total $98,273 · program services $46,494 · management and general $31,917 · fundraising $19,862

  • 14 · Information technology

    total $469,424 · program services $216,391 · management and general $155,966 · fundraising $97,067

  • 16 · Occupancy

    total $192,040 · program services $88,525 · management and general $63,806 · fundraising $39,709

  • 17 · Travel

    total $100,715 · program services $54,091 · management and general $28,739 · fundraising $17,885

  • 19 · Conferences, conventions and meetings

    total $91,424 · program services $77,734 · management and general $8,438 · fundraising $5,252

  • 22 · Depreciation, depletion and amortization

    total $213,348 · program services $98,347 · management and general $70,885 · fundraising $44,116

  • 23 · Insurance

    total $58,591 · program services $29,583 · management and general $17,880 · fundraising $11,128

  • 24a · Other expenses: Communications

    total $310,207 · program services $142,996 · management and general $103,067 · fundraising $64,144

  • 24b · Other expenses: Dues and subscriptions

    total $69,990 · program services $32,263 · management and general $23,255 · fundraising $14,472

  • 24c · Other expenses: Other fund expenses

    total $57,766 · program services $48,505 · management and general $5,708 · fundraising $3,553

  • 24d · Other expenses: Provision for bad debt

    total $16,616 · program services $16,616

  • 26 · Joint costs (an allocation of the lines above)

    total $940,520 · program services $463,524 · management and general $213,236 · fundraising $263,760

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $89,565 · end of year $94,694

  • 2 · Savings and temporary cash investments

    beginning of year $70,210,451 · end of year $93,232,513

  • 3 · Pledges and grants receivable

    beginning of year $2,780,890 · end of year $1,533,650

  • 4 · Accounts receivable

    beginning of year $33,657 · end of year $1,001,660

  • 7 · Other notes and loans receivable

    beginning of year $1,930,029 · end of year $1,847,469

  • 9 · Prepaid expenses and deferred charges

    beginning of year $92,093 · end of year $89,188

  • 10a · Land, buildings and equipment: cost or other basis

    $4,552,884

  • 10b · Land, buildings and equipment: accumulated depreciation

    $3,138,431

  • 10c · Land, buildings and equipment, net

    beginning of year $1,516,898 · end of year $1,414,453

  • 11 · Investments: publicly traded securities

    beginning of year $216,058,835 · end of year $156,642,242

  • 12 · Investments: other securities

    beginning of year $776,688,830 · end of year $642,129,336

  • 15 · Other assets

    beginning of year $9,261,568 · end of year $8,724,653

  • 17 · Accounts payable and accrued expenses

    beginning of year $844,992 · end of year $772,989

  • 18 · Grants payable

    beginning of year $10,425,926 · end of year $9,427,844

  • 19 · Deferred revenue

    beginning of year $2,388,658 · end of year $2,629,908

  • 25 · Other liabilities

    beginning of year $62,500,167 · end of year $51,690,420

  • 27 · Net assets without donor restrictions

    beginning of year $839,274,012 · end of year $706,934,840

  • 28 · Net assets with donor restrictions

    beginning of year $163,229,061 · end of year $135,253,857

Mission and programs · 2022

Mission

We achieve our purpose by: supporting New Hampshire's nonprofit organizations and students; connecting generous people with pressing community needs and effective ways to give; collaborating, building relationships and learning from all of our community partners; advocating and using our voice on important public issues; and investing charitable assets in alignment with our purpose and values and to ensure a perpetual source of philanthropic capital.

Activities or mission (Part I)

To make New Hampshire a more just, sustainable, and vibrant community where everyone can thrive.

  • Grant program: The New Hampshire Charitable Foundation is the state's largest provider of grants to nonprofits and scholarships to local residents. In 2022, that included more than $52 million in grants and program initiatives, including grants to approximately 2,283 nonprofit organizations. These grants support nonprofit organizations that advance health and well-being, environmental protection, education, housing and other basic needs, arts and culture, civic health and economic security. Over $8 million in scholarships were awarded to 1,787 students pursuing a wide range of educational opportunities, including traditional colleges and universities, technical training and certificate programs, as well as programs that prepare students to succeed in the workforce and in their community.

    Expenses $59,483,372 · Grants $59,483,372 · Revenue $23,021

  • Special funds: There are a select group of funds at the New Hampshire Charitable Foundation which support focused programs to respond to community needs. These include the Community Crisis Action Fund which was created to respond to the COVID-19 pandemic; the New Hampshire Tomorrow Fund which seeks to increase opportunities for children and families most in need; the Wellborn Ecology Fund, which seeks to increase knowledge of the environment and natural history of the Upper Valley in New Hampshire and Vermont; the Neil and Louise Tillotson Fund, which seeks to create and enhance opportunity, reserve and uplift the historical and cultural assets that make the region unique and hold the confidence and capabilities to foster strong communities and healthy rural landscapes; (Continued on Schedule O)(Program Service Accomplishments, Special Funds continued):the Artist Advancement Fund, which provides support to an individual artist in the Greater Portsmouth area; the Upper Connecticut River Mitigation and Enhancement Fund, which seeks to restore, protect and enhance the watershed near the confluence of the Connecticut and White rivers; and the Oliver J. and Dorothy Penniman Hubbard Fund, which supports efforts to prevent substance use disorders among the state's residents.

    Expenses $1,245,059

  • Expenses for Grant Programs: In the case of these exceptional funds, programs have been created that connect resources made available by generous donors to the goals that motivated their gifts. This expense line includes dedicated staff to execute the intent of the donors, communications to present the goals and work of the funds to the communities they serve, and support for convening to advance these goals.

    Expenses $4,154,925

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Richard Ober

    President

    Total calculated
    $444,892
    From this org
    $383,387
    From related orgs
    $0
    Other
    $61,505
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $362,887
    Bonus
    $0
    Other
    $20,500
    Deferred
    $30,500
    Nontaxable benefits
    $31,005
    Filer's total
    $444,892

  • Evelyn Aissa

    Board Member (start 6/2022)

    Total calculated
    $0
    Hours/week
    3.5

  • Larissa Ruiz Baia

    Board Member (end 6/2022)

    Total calculated
    $0
    Hours/week
    3.5

  • Maureen A Beauregard

    Board Member (end 5/2022)

    Total calculated
    $0
    Hours/week
    3.5

  • JerriAnne Boggis

    Board Member

    Total calculated
    $0
    Hours/week
    3.5

  • Mary Johanna Brown

    Board Member (end 5/2022)

    Total calculated
    $0
    Hours/week
    3.5

  • Kristin Girald

    Board Member (start 6/2022)

    Total calculated
    $0
    Hours/week
    3.5

  • Lucy C Hodder

    Board Member (end 5/2022)

    Total calculated
    $0
    Hours/week
    3.5

  • Kenneth R Kinder

    Board Member (end 5/2022)

    Total calculated
    $0
    Hours/week
    3.5

  • Sarah Mattson Dustin

    Board Member (start 6/2022)

    Total calculated
    $0
    Hours/week
    3.5

  • Diane M Mercier

    Board Member (end 5/2022)

    Total calculated
    $0
    Hours/week
    3.5

  • Pawn Nitichan

    Board Member

    Total calculated
    $0
    Hours/week
    3.5

  • Ritu Gupta Ullal

    Board Member (start 6/2022)

    Total calculated
    $0
    Hours/week
    3.5

  • Barbara Couch

    Chair; Board Member

    Total calculated
    $0
    Hours/week
    3.5

  • Joseph G Morone

    Vice Chair; Board Member

    Total calculated
    $0
    Hours/week
    3.5

  • John F Weeks

    Treasurer; Board Member

    Total calculated
    $0
    Hours/week
    3.5

  • A Robert Hirschfeld

    Secretary; Board Member

    Total calculated
    $0
    Hours/week
    3.5

  • Michael Wilson

    VP/Chief Financial Officer

    Total calculated
    $312,703
    From this org
    $256,687
    From related orgs
    $0
    Other
    $56,016
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $240,187
    Bonus
    $3,000
    Other
    $13,500
    Deferred
    $25,039
    Nontaxable benefits
    $30,977
    Filer's total
    $312,703

  • Richard Peck

    VP, Development & Philanthropy

    Total calculated
    $222,096
    From this org
    $170,647
    From related orgs
    $0
    Other
    $51,449
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $163,647
    Bonus
    $2,000
    Other
    $5,000
    Deferred
    $17,594
    Nontaxable benefits
    $33,855
    Filer's total
    $222,096

  • Katherine Merrow

    VP of Community Impact (end 10/2022)

    Total calculated
    $199,060
    From this org
    $180,563
    From related orgs
    $0
    Other
    $18,497
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $171,696
    Bonus
    $0
    Other
    $8,867
    Deferred
    $17,356
    Nontaxable benefits
    $1,141
    Filer's total
    $199,060

  • Jennifer Perkins

    VP of Administration

    Total calculated
    $208,891
    From this org
    $180,613
    From related orgs
    $0
    Other
    $28,278
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $172,363
    Bonus
    $3,250
    Other
    $5,000
    Deferred
    $17,574
    Nontaxable benefits
    $10,704
    Filer's total
    $208,891

  • Rebecca Carr

    Controller

    Total calculated
    $178,332
    From this org
    $149,345
    From related orgs
    $0
    Other
    $28,987
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $144,845
    Bonus
    $4,500
    Other
    $0
    Deferred
    $15,052
    Nontaxable benefits
    $13,935
    Filer's total
    $178,332

  • Kristen Oliveri

    VP of Communications & Marketing

    Total calculated
    $162,481
    From this org
    $138,535
    From related orgs
    $0
    Other
    $23,946
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $135,785
    Bonus
    $2,750
    Other
    $0
    Deferred
    $13,838
    Nontaxable benefits
    $10,108
    Filer's total
    $162,481

  • Laura Rauscher

    Director, Development & Philanthropy

    Total calculated
    $131,708
    From this org
    $118,622
    From related orgs
    $0
    Other
    $13,086
    Hours/week
    50

  • Michael Turmelle

    Director, Educ. & Career Initiatives

    Total calculated
    $141,187
    From this org
    $116,600
    From related orgs
    $0
    Other
    $24,587
    Hours/week
    50

  • Christina D'Allesandro

    Director, Childhood & Family Support

    Total calculated
    $128,438
    From this org
    $115,288
    From related orgs
    $0
    Other
    $13,150
    Hours/week
    50

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 7
At-risk compensation, which is subject to review and paid annually. It is based on several predefined metrics.
Schedule J, Part II:
Deferred Compensation Accrual: The Foundation adopted a 457(b) deferred compensation plan during 2010 for certain key employees. The purpose of the plan is to provide supplemental retirement income and the retention of key employees by offering benefits comparable with similar organizations. The plan calls for set annual contributions and the cost is expensed when each contribution is made. The total cost of the plan charged to operations amounted to $50,667 and $53,000 in 2022 and 2021, respectively. At December 31, 2022 and 2021, $512,399 and $561,940, respectively, was accrued for this obligation. Total compensation including the deferred compensation plan is evaluated and approved annually by the Board of Directors. This process is documented in the Board minutes. Per IRS instructions for Form 990 and Schedule J, deferred compensation plans under 457(b) are not required to be further disclosed as part of non-qualified deferred compensation in Schedule J, Part I, Line 4a. However, any amount attributable to a single individual in Form 990, Part VII has been disclosed, as appropriate in Schedule J, Part II, Columns B(iii) and/or C.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • OCG LLC co Cleveland Waters & Bass

    To manage contributed shares of Tillotson Corp and subsidiaries · MN · income -$994,450 · assets $2,723,835

    Directly controlled by New Hampshire Charitable Foundation

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • Tillotson Corporation

    C · Latex, Luxury, and Resort · MA

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2022
IRS schema version
2022v5.0
Source object
202343119349300814

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