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Nonprofiteer
← CHARLES E COTTING CHARITABLE CORP

Form 990 for tax year 2023

Filed by CHARLES E COTTING CHARITABLE CORP.

Totals

Total revenue
$6,992,038
Total expenses
$8,463,136
Contributions and grants received
$77,417
Grants paid
$7,649,990
Program service revenue
$0
Investment income
$6,893,780
Other revenue
$20,841
Total assets, end of year
$110,505,668
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$110,505,668
Program services expenses (Part IX)
$7,649,990
Management and general expenses
$813,146
Fundraising expenses
$0
Program service expenses (Part III)
$7,649,990

Program services were 90.4% 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

    $77,417

  • 1g · Noncash contributions included above

    $73,420

  • 3 · Investment income

    total $3,425,026 · excluded $3,425,026

  • 7a · Gross sales of assets other than inventory

    securities $29,926,312

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

    securities $26,457,558

  • 7c · Gain or loss

    securities $3,468,754

  • 7d · Net gain or loss

    total $3,468,754 · excluded $3,468,754

  • 11a · Other revenue: FOREIGN TAX RECLAIMS

    total $20,400 · excluded $20,400

  • 11b · Other revenue: UNITED STATES TREASURY - 2020 REF

    total $441 · excluded $441

  • 11e · Other revenue, total

    $20,841

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $7,649,990 · program services $7,649,990

  • 11a · Fees: management

    total $722,286 · management and general $722,286

  • 11b · Fees: legal

    total $44,100 · management and general $44,100

  • 24a · Other expenses: FOREIGN TAXES

    total $39,993 · management and general $39,993

  • 24b · Other expenses: ADR FEES

    total $3,534 · management and general $3,534

  • 24c · Other expenses: GLOBE TAX FEES

    total $2,433 · management and general $2,433

  • 24d · Other expenses: FILING FEES

    total $500 · management and general $500

  • 24e · All other expenses

    total $300 · management and general $300

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $2,163,920 · end of year $3,978,968

  • 11 · Investments: publicly traded securities

    beginning of year $96,671,621 · end of year $94,910,559

  • 12 · Investments: other securities

    beginning of year $13,293,856 · end of year $11,616,141

  • 28 · Net assets with donor restrictions

    beginning of year $112,129,397 · end of year $110,505,668

Mission and programs · 2023

Mission

TO FUND STUDENT SCHOLARSHIPS AND ACADEMIC FACULTY SALARIES FOR HARVARD COLLEGE GRADUATE SCHOOL FOR BUSINESS ADMINISTRATION.

  • DISTRIBUTIONS TO HARVARD COLLEGE GRADUATE SCHOOL OF BUSINESS ADMINISTRATION AS REQUIRED BY CORPORATE MISSION.

    Expenses $7,649,990 · Grants $7,649,990

As filed on the 2023 return.

Listed in Part VII

  • Robert G Bannish

    TRUSTEE AND DIRECTOR

    Total calculated
    $240,762
    From this org
    $240,762
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $240,762
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $240,762

  • Zachary A Bourque

    TRUSTEE AND DIRECTOR

    Total calculated
    $240,762
    From this org
    $240,762
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $240,762
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $240,762

  • Gregory L Gullickson

    TRUSTEE AND DIRECTOR

    Total calculated
    $240,762
    From this org
    $240,762
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $240,762
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $240,762

  • Luis M Viceira Through 83123

    TRUSTEE AND DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Malcolm P Baker From 912023

    TRUSTEE AND DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

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

None.

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

The filer's explanations (Part III)

SCHEDULE J, PART II:
A TOTAL OF $722,286 IN TRUSTEE COMPENSATION WAS PAID BY THE ORGANIZATION DURING THE YEAR. THE COMPENSATION WAS PAID DIRECTLY TO RICE, HEARD & BIGELOW, INC, PURSUANT TO THAT COMPANY'S SHAREHOLDER AGREEMENT, OF WHICH MESSRS. BANNISH, GULLICKSON, AND BOURQUE ARE DIRECTORS, SHAREHOLDERS, AND FULL-TIME EMPLOYEES.

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.

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.

Related corporations and trusts

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

  • RICE HEARD & BIGELOW INC

    S · PRIVATE TRUSTEES · MA

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202433209349302933

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