Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $138,831

• 1f · All other contributions, gifts and grants

  $2,460,000

• 1g · Noncash contributions included above

  $7,195

• 3 · Investment income

  total $1,142,080 · excluded $1,142,080

• 7a · Gross sales of assets other than inventory

  securities $12,968,892

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

  securities $13,568,412

• 7c · Gain or loss

  securities -$599,520

• 7d · Net gain or loss

  total -$599,520 · related or exempt -$599,520

• 8a · Fundraising events: gross income

  $1,485

• 8a · Fundraising events: contributions included on line 1c

  $138,831

• 8b · Fundraising events: direct expenses

  $7,195

• 8c · Net income from fundraising events

  total -$5,710 · excluded -$5,710

• 11a · Other revenue: OTHER REVENUE

  total $169,465 · related or exempt $169,465

• 11e · Other revenue, total

  $169,465

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $1,641,957 · program services $1,641,957

• 2 · Grants to domestic individuals

  total $1,059,135 · program services $1,059,135

• 11f · Fees: investment management

  total $49,469 · management and general $49,469

• 20 · Interest

  total $15,870 · management and general $15,870

• 22 · Depreciation, depletion and amortization

  total $34,784 · program services $34,784

• 23 · Insurance

  total $221 · program services $221

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $43,932 · end of year $198,870

• 2 · Savings and temporary cash investments

  beginning of year $3,480,116 · end of year $3,533,735

• 3 · Pledges and grants receivable

  beginning of year $4,462,846 · end of year $4,948,549

• 9 · Prepaid expenses and deferred charges

  beginning of year $4,362 · end of year $9,322

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

  $1,087,419

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

  $440,258

• 10c · Land, buildings and equipment, net

  beginning of year $681,945 · end of year $647,161

• 11 · Investments: publicly traded securities

  beginning of year $37,894,070 · end of year $42,214,201

• 12 · Investments: other securities

  beginning of year $697,141 · end of year $1,190,468

• 15 · Other assets

  beginning of year $1,410,930 · end of year $1,496,427

• 17 · Accounts payable and accrued expenses

  beginning of year $146,374 · end of year $713,475

• 23 · Secured mortgages and notes payable

  beginning of year $429,771 · end of year $406,295

• 25 · Other liabilities

  beginning of year $973,861 · end of year $1,067,878

• 27 · Net assets without donor restrictions

  beginning of year $4,250,178 · end of year $4,723,974

• 28 · Net assets with donor restrictions

  beginning of year $42,875,158 · end of year $47,327,111

The filer's explanations (Part III)

SCHEDULE J, PART II

THE WAGES REFLECTED AS COMPENSATION TO BOARD PRESIDENT ARE PAID BY WORCESTER STATE UNIVERSITY FOR SERVICES PROVIDED TO THE UNIVERSITY AND NOT FOR SERVICES PERFORMED FOR THE FOUNDATION.

Disregarded entities

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

• WORCESTER STATE FOUNDATION REAL ESTATE LLC

  REAL ESTATE HOLDING ENTITY · MA · income $169,465 · assets $855,353

  Directly controlled by WORCESTER STATE FOUNDATION INC