Massachusetts Nurses Foundation Inc.

“The Foundation is related to the Massachusetts Nurses Association since the members of the Associations Board of Directors are also members of the Foundation. The members of the Foundation in turn appoint the Board of Trustees which is responsible for managing the Foundation. During the years ended June 30, 2015 and 2014, the Foundation reimbursed the Association $40,454 and $9,867, respectively, for expenses paid on the Foundations behalf.”

“DONEES NAME:SCHOLARSHIPS DONEES ADDRESS:340 Turnpike Street Canton, MA 02021 RELATIONSHIP:NONE PURPOSE OF PAYMENT:Scholarships AMOUNT:52000”

“Description:ADMIN SERVICES Amount:33898”

“Description:INSURANCE Amount:790”

“Description:FEES Amount:272”

“Description:FUNDRAISING EXPENSES Amount:210”

“Description:MISC EXPENSES Amount:396”

“Description:UNREALIZED GAINS ON INVESTMENTS Amount:1276”

“Description:DONATED SERVICES Amount:8039”

“During 2015, the foundation became a partner with the association in a grant agreement funded by the health care workforce transformation fund, and administered by commonwealth corporation. The grant is on a cost reimbursement basis for allowed program expenditures. The period of the grant will be from february 1, 2015 through january 31, 2017 with the maximum amount of the grant to be approximately $164,800. The association acts as an agent under the grant in which it submits requisitions for reimbursable costs to commonwealth corporation. Upon receipt of the grant funds, the association will transfer these funds to the foundation to be used for the purpose of the grant. During the year ended june 30, 2015, the foundation collected $5,823 of grant funds from the association, which is reflected in the statement of revenue, expenses and changes in net assets as temporarily restricted grant income. Grant expenses incurred during 2015 were $67,716. Included in grant expenses are reimbursements to the association for costs incurred under the grant. Subsequent to june 30, 2015, the foudnation collected $61,893 from the association in connection with this grant.”