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Nonprofiteer
← CHARLESTOWN BENEVOLENT CARE FOUNDATION INC

Form 990 for tax year 2022

Filed by CHARLESTOWN BENEVOLENT CARE FOUNDATION INC.

Totals

Total revenue
$280,289
Total expenses
$832,708
Contributions and grants received
$85,219
Grants paid
$800,000
Program service revenue
$0
Investment income
$195,070
Other revenue
$0
Total assets, end of year
$4,863,644
Total liabilities, end of year
$350,969
Net assets or fund balances, end of year
$4,512,675
Program services expenses (Part IX)
$800,000
Management and general expenses
$32,708
Fundraising expenses
$0
Program service expenses (Part III)
$800,000

Program services were 96.1% 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.

  • 1f · All other contributions, gifts and grants

    $85,219

  • 3 · Investment income

    total $133,806 · excluded $133,806

  • 7a · Gross sales of assets other than inventory

    securities $1,754,482

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

    securities $1,693,218

  • 7c · Gain or loss

    securities $61,264

  • 7d · Net gain or loss

    total $61,264 · excluded $61,264

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $800,000 · program services $800,000

  • 11f · Fees: investment management

    total $32,708 · management and general $32,708

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $131,329 · end of year $115,365

  • 11 · Investments: publicly traded securities

    beginning of year $3,546,220 · end of year $2,543,123

  • 12 · Investments: other securities

    beginning of year $3,145,856 · end of year $2,205,156

  • 17 · Accounts payable and accrued expenses

    beginning of year $436,201 · end of year $350,969

  • 27 · Net assets without donor restrictions

    beginning of year $6,387,204 · end of year $4,512,675

Mission and programs · 2022

Mission

THE BOARD OF DIRECTORS OF CHARLESTOWN BENEVOLENT CARE FOUNDATION, INC. IS COMMITTED TO CREATING A COMMUNITY THAT CELEBRATE LIFE. SEE SCHEDULE O FOR THE COMPLETE MISSION STATEMENT.

Activities or mission (Part I)

THE FOUNDATION IS OPERATED EXCLUSIVELY FOR THE BENEFIT AND SUPPORT OF CHARLESTOWN COMMUNITY.

  • THE FOUNDATION IS OPERATED EXCLUSIVELY FOR THE BENEFIT AND SUPPORT OF CHARLESTOWN COMMUNITY, INC., AN ORGANIZATION EXEMPT UNDER IRC SECTION 501(C)(3), INCLUDING, BUT NOT LIMITED TO, SUPPORTING THE BENEVOLENT CARE FUND CREATED AND ADMINISTERED BY CCI.

    Expenses $800,000 · Grants $800,000

As filed on the 2022 return.

Listed in Part VII

  • Laura Ostroff

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Luther Petry

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Heidi Abelhady

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Naomi McAfee

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Steve Harders

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • David Douds

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Eugenia High

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Chandra Kumar Ex Officio

    PRESIDENT (BEGAN 6/6/22)

    Total calculated
    $155,690
    From this org
    $0
    From related orgs
    $143,298
    Other
    $12,392
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $109,905 related
    Bonus
    $0 + $31,493 related
    Other
    $0 + $1,900 related
    Deferred
    $0 + $4,401 related
    Nontaxable benefits
    $0 + $7,991 related
    Filer's total
    $0 + $155,690 related

  • Patricia Santoni Ex Officio

    SECRETARY

    Total calculated
    $138,615
    From this org
    $0
    From related orgs
    $122,669
    Other
    $15,946
    Hours/week
    1 + 40 related

  • Gladstone James Ex Officio

    TREASURER

    Total calculated
    $158,994
    From this org
    $0
    From related orgs
    $142,577
    Other
    $16,417
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $126,493 related
    Bonus
    $0 + $15,500 related
    Other
    $0 + $584 related
    Deferred
    $0 + $4,092 related
    Nontaxable benefits
    $0 + $12,325 related
    Filer's total
    $0 + $158,994 related

  • Clara Parker Ex Officio

    PRESIDENT (THRU 6/3/22)

    Total calculated
    $221,883
    From this org
    $0
    From related orgs
    $207,527
    Other
    $14,356
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $68,069 related
    Bonus
    $0 + $41,000 related
    Other
    $0 + $98,458 related
    Deferred
    $0 + $7,913 related
    Nontaxable benefits
    $0 + $6,443 related
    Filer's total
    $0 + $221,883 related

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

  • 4a · Severance or change-of-control payment

Answered no

  • 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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
CHARLESTOWN BENEVOLENT CARE FOUNDATION, INC. RELIES ON CHARLESTOWN COMMUNITY, INC. (CCI) TO ESTABILISH THE COMPENSATION OF THE EXECUTIVE DIRECTOR. CCI USES AN INDEPENDENT COMPENSATION CONSULTANT, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE CCI BOARD OR COMPENSATION COMMITTEE TO ESTABLISH THE COMPENSATION.
PART I, LINE 4A
PART I, 4.A SEVERANCE PAYMENT, CLARA PARKER - $96,364

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

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.

Provenance

Return type
form_990
Tax year
2022
Filed
26 October 2023
IRS schema version
2022v5.0
Source object
202313049349301541

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