WOBURN, MA
Cummings Foundation Inc.
Quick Facts
- EIN
- 043073023
- Location
- WOBURN, MA
- Category
- Philanthropy & Grantmaking
- Total Assets
- $2.2B
- Annual Income
- $485M
- IRS Ruling Year
- 1990
- Organization Type
- Corporation
- Principal Officer
- % Joseph Montano
- Tax Deductibility
- Contributions are deductible
About This Foundation
Cummings Foundation Inc. is a private corporation based in WOBURN, MA. The foundation received its IRS ruling in 1990. The principal officer is % Joseph Montano. It holds total assets of $2.2B. Annual income is reported at $485M. The foundation operates in the area of philanthropy & grantmaking. Contributions to this foundation are tax-deductible.
View 990 FilingsFinancial Overview
Total Giving
$190.1M
2023+1%
Total Assets
$2.1B
2023+6%
Fair Market Value
$2.9B
2023
Net Worth
$2B
2023
Grants Paid
$18.4M
2023
Contributions
$4.5M
2023
Net Investment Income
$119.7M
2023
Distribution Amount
$0
2023
Total Giving by Year
$67.5M
11$70.7M
12$76.5M
13$83.8M
14$86.3M
15$113.4M
19$111.3M
20$122.2M
21$187.3M
22$190.1M
23Asset Growth
$837.8M
11$898.9M
12$902.3M
13$959M
14$1B
15$1.3B
19$1.6B
20$1.8B
21$2B
22$2.1B
23Investment Portfolio (2023)
Total: $476.6M
Corporate Stock: $476.6M
Other Investments: $1.6B
Cash: $818K
Corporate Stock (23%)
Other Investments (77%)
Cash (0%)
Expense Breakdown (2023)
Grants Paid$18.4M
Occupancy$4.4M
Pension & Benefits$1.8M
Officer Compensation$720K
Depreciation$515K
Accounting Fees$108K
Interest$28K
Revenue Sources (2023)
- Other Income
- $239.7M
- Capital Gains (Net)
- $29.7M
- Dividends
- $23.6M
- Contributions
- $4.5M
- Gross Rents
- $106K
Financial Details (2023)
- Total Revenue
- $297.5M
- Total Expenses
- $190.1M
- Exempt Purpose Expenses
- $132.7M
- Required Distribution
- $0
- Undistributed Income
- $0
- Total Liabilities
- $35.5M
- Excise Tax
- $1.7M
Foundation Classification (2023)
Operating FoundationGrants to IndividualsNon-Charity GrantsLobbying ActivityExcess Business Holdings
990-PF Filings
| Tax Period | Return Type | View |
|---|---|---|
| 2023-12 | 990PF | View Filing |
| 2022-12 | 990PF | View Filing |
| 2021-12 | 990PF | View Filing |
| 2020-12 | 990PF | View Filing |
| 2018-12 | 990PF | View Filing |
| 2017-12 | 990PF | View Filing |
| 2016-12 | 990PF | View Filing |
| 2015-12 | 990PF | View Filing |
Filings sourced from IRS e-file index. View all on ProPublica
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