Civic Intelligence

Farr Foundation Inc

990 • Fiscal year 2024 • EIN 04-3364089

Jul 01, 2023 to Jun 30, 2024 • Filed on Oct 29, 2024

Organization ProfileN/A
71 Pearl StreetCambridge, MA 02139

(617) 497-2620

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

18th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

18th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

95th percentile

72%

Higher net margin than 95% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

40th percentile

$0

Higher top officer pay than 40% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

68th percentile

12%

Faster asset growth than 68% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

34th percentile

-0.3%

Faster revenue growth than 34% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets18th percentile

Assets

Up

$2,510,460

Up $262,473 (+12%) from 2023

Net Assets

Up

$2,510,460

Up $262,473 (+12%) from 2023

Liabilities

Flat

$0

Flat from 2023

Revenue And Expenses
Liabilities / Revenue18th percentileNet Margin95th percentile

Revenue

Down

$90,675

Down $297 (-0.3%) from 2023

Expenses

Up

$25,831

Up $6,596 (+34%) from 2023

Net Income

Down

$64,844

Down $6,893 (-9.6%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth68th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0Assets 2011: $1,192,892Liabilities 2011: $0Net Assets 2011: $1,192,8922011Assets 2012: $1,230,065Liabilities 2012: $0Net Assets 2012: $1,230,0652012Assets 2013: $1,390,222Liabilities 2013: $0Net Assets 2013: $1,390,2222013Assets 2014: $1,664,459Liabilities 2014: $0Net Assets 2014: $1,664,4592014Assets 2015: $1,631,500Liabilities 2015: $0Net Assets 2015: $1,631,5002015Assets 2016: $1,567,345Liabilities 2016: $0Net Assets 2016: $1,567,3452016Assets 2017: $1,684,186Liabilities 2017: $0Net Assets 2017: $1,684,1862017Assets 2018: $1,801,072Liabilities 2018: $0Net Assets 2018: $1,801,0722018Assets 2019: $1,888,483Liabilities 2019: $0Net Assets 2019: $1,888,4832019Assets 2020: $1,918,129Liabilities 2020: $0Net Assets 2020: $1,918,1292020Assets 2021: $2,274,662Liabilities 2021: $0Net Assets 2021: $2,274,6622021Assets 2022: $2,078,336Liabilities 2022: $0Net Assets 2022: $2,078,3362022Assets 2023: $2,247,987Liabilities 2023: $0Net Assets 2023: $2,247,9872023Assets 2024: $2,510,460Liabilities 2024: $0Net Assets 2024: $2,510,4602024Assets 2025: $2,773,145Liabilities 2025: $0Net Assets 2025: $2,773,1452025

Highlighted filing

2024

Assets$2,510,460
Liabilities$0
Net Assets$2,510,460
Open 2024 Filing

Operations Trend

Revenue Growth34th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$200K$100K$0-$100KRevenue 2011: $107,412Expenses 2011: $21,244Net Income 2011: $86,1682011Revenue 2012: $77,455Expenses 2012: $16,461Net Income 2012: $60,9942012Revenue 2013: $92,756Expenses 2013: $23,437Net Income 2013: $69,3192013Revenue 2014: $147,833Expenses 2014: $33,500Net Income 2014: $114,3332014Revenue 2015: $192,923Expenses 2015: $30,116Net Income 2015: $162,8072015Revenue 2016: -$67,865Expenses 2016: $29,159Net Income 2016: -$97,0242016Revenue 2017: $56,868Expenses 2017: $26,533Net Income 2017: $30,3352017Revenue 2018: $53,688Expenses 2018: $23,588Net Income 2018: $30,1002018Revenue 2019: $101,199Expenses 2019: $15,709Net Income 2019: $85,4902019Revenue 2020: $74,120Expenses 2020: $9,970Net Income 2020: $64,1502020Revenue 2021: $42,006Expenses 2021: $8,715Net Income 2021: $33,2912021Revenue 2022: $34,557Expenses 2022: $16,641Net Income 2022: $17,9162022Revenue 2023: $90,972Expenses 2023: $19,235Net Income 2023: $71,7372023Revenue 2024: $90,675Expenses 2024: $25,831Net Income 2024: $64,8442024Revenue 2025: $78,022Expenses 2025: $20,501Net Income 2025: $57,5212025

Highlighted filing

2024

Revenue$90,675
Expenses$25,831
Net Income$64,844
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Oct 29, 2024
Return Version
2023v5.1
Gross Receipts
$379,974
Mission and Program Overview

Mission

Provide financial support to james f. Farr academy inc., a 501(c)(3) organization that provides educational and residential services to children and young adults with emotional, behavioral and learning disabilities.

Provide financial support to james f. Farr academy, a 501(c)(3) organization that provides educational and residential services to children and young adults with emotional, behavioral and learning disabilities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$2,219,834$2,483,204▲ $263,370
Cash and Non-Interest-Bearing Accounts$28,153$27,256▼ $897
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$2,247,987$2,510,460▲ $262,473
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,247,987$2,510,460▲ $262,473
Total Liabilities and Net Assets / Fund Balance$2,247,987$2,510,460▲ $262,473
Compensation and Service Providers
Top Officer Pay40th percentile

Board Members and Trustees

NameTitle
Robert HuebscherTrustee
Michael T CulhaneC.e.o. and Treasurer
Bonnie K CulhaneClerk
Revenue and Support

Revenue Composition

Contributions and Grants
$7,575
Program Service Revenue
$0
Investment Income
$83,100
Other Revenue
$0
All Other Contributions
$7,575
Change in Net Assets
$64,844
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$18,256
Grants and Similar Amounts Paid$7,575
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Service Investment Mgmnt Fees-$17,355-$17,355
Grants to Domestic Orgs$7,575--$7,575
Fees for Services Accounting-$800-$800
Office Expenses-$101-$101
Total Functional Expenses$7,575$18,256$0$25,831
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
James F Farr Academy IncCambridge, MA501(c)(3)To Support the Organization in Furtherance of Its Mission to Provide Educational and Support Services for Individuals With Special Academic, Beharioral, and Emotional Needs.$7,575
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Michael culhane (c.e.o./ treasurer) is the son of bonnie k. Culhane (clerk).”

Form 990, Part VI, Section B, Line 11B

“The organization's accountant prepares financial statements for the charity, which are then forwarded along to an independent accountant for tax return preparation. Any comments resulting from the independent accountant's look-over are discussed, and potentially incorporated into the filing, and a final version of the form 990 is then made available to the ceo/ treasurer for review and discussion prior to final submission to the irs.”

Form 990, Part VI, Section B, Line 12C

“Any potential conflicts of interest by officers and trustees of the organization that could arise are evaluated by the ceo/ treasurer of the organization.”

Form 990, Part VI, Section C, Line 19

“The organization's tax return is made available to the public by way of websites of certain regulatory agencies, which in turn provides financial statements, changes to governing documents and disclosure of conflict of interest policies.”

Filing and Contact Details

Filer

Filer Name
Farr Foundation Inc
EIN
04-3364089
Phone
6174972620
Address
71 PEARL STREET, CAMBRIDGE, MA 02139

Signing Officer

Name
Michael T Culhane
Title
C.e.o.
Phone
6174972620
Signed
2024-10-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael T Culhane
Formed
1997
Legal Domicile
Ma
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Raphael and Raphael Llp
Address
165 THORNDIKE STREET SUITE 5001, LOWELL, MA 01852
Preparer
Garry Todd Nichol
Phone
6172101230
Raw XML Appendix308 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ActivityOrMissionDesc0PROVIDE FINANCIAL SUPPORT TO JAMES F. FARR ACADEMY, A 501(C)(3) ORGANIZATION THAT PROVIDES EDUCATIONAL AND RESIDENTIAL SERVICES TO CHILDREN AND YOUNG ADULTS WITH EMOTIONAL, BEHAVIORAL AND LEARNING DISABILITIES.
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IRS990/Form990PartVIISectionAGrp/TitleTxt2CLERK
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IRS990/MissionDesc0PROVIDE FINANCIAL SUPPORT TO JAMES F. FARR ACADEMY INC., A 501(C)(3) ORGANIZATION AND ITS AFFILIATES THAT PROVIDE EDUCATIONAL AND RESIDENTIAL SERVICES TO CHILDREN AND YOUNG ADULTS WITH EMOTIONAL, BEHAVIORAL AND LEARNING DISABILITIES.
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IRS990ScheduleA/FactsAndCircumstancesTestTxt0DUE TO THE COVID-19 PANDEMIC, FUNDRAISING EVENTS WERE SUSPENDED. CONSEQUENTLY, THE ORGANIZATION RECEIVED MINIMAL DONATIONS DURING THIS PERIOD OF TIME.
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0TO SUPPORT THE ORGANIZATION IN FURTHERANCE OF ITS MISSION TO PROVIDE EDUCATIONAL AND SUPPORT SERVICES FOR INDIVIDUALS WITH SPECIAL ACADEMIC, BEHARIORAL, AND EMOTIONAL NEEDS.
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0JAMES F FARR ACADEMY INC
IRS990ScheduleI/RecipientTable/RecipientEIN0042502446
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt071 PEARL STREET
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0MICHAEL CULHANE, C.E.O. AND TREASURER OF FARR FOUNDATION INC. , ALSO SERVES AS C.E.O. OF THE JAMES F FARR ACADEMY INC., WHICH ALLOWS HIM TO DIRECTLY MONITOR THE USE OF ALL GRANTS RECEIVED BY THE ACADEMY.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MICHAEL CULHANE (C.E.O./ TREASURER) IS THE SON OF BONNIE K. CULHANE (CLERK).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION'S ACCOUNTANT PREPARES FINANCIAL STATEMENTS FOR THE CHARITY, WHICH ARE THEN FORWARDED ALONG TO AN INDEPENDENT ACCOUNTANT FOR TAX RETURN PREPARATION. ANY COMMENTS RESULTING FROM THE INDEPENDENT ACCOUNTANT'S LOOK-OVER ARE DISCUSSED, AND POTENTIALLY INCORPORATED INTO THE FILING, AND A FINAL VERSION OF THE FORM 990 IS THEN MADE AVAILABLE TO THE CEO/ TREASURER FOR REVIEW AND DISCUSSION PRIOR TO FINAL SUBMISSION TO THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ANY POTENTIAL CONFLICTS OF INTEREST BY OFFICERS AND TRUSTEES OF THE ORGANIZATION THAT COULD ARISE ARE EVALUATED BY THE CEO/ TREASURER OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S TAX RETURN IS MADE AVAILABLE TO THE PUBLIC BY WAY OF WEBSITES OF CERTAIN REGULATORY AGENCIES, WHICH IN TURN PROVIDES FINANCIAL STATEMENTS, CHANGES TO GOVERNING DOCUMENTS AND DISCLOSURE OF CONFLICT OF INTEREST POLICIES.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
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IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt018256
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt07575
IRS990/TotalFunctionalExpensesGrp/TotalAmt025831
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02247987
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02510460
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt07575
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt083100
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt090675
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02247987
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02510460
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt071 PEARL STREET
IRS990/USAddress/CityNm0CAMBRIDGE
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd002139
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MICHAEL T CULHANE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0C.E.O.
ReturnHeader/BusinessOfficerGrp/PhoneNum06174972620
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-10-29
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FARR FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0FARR
ReturnHeader/Filer/EIN0043364089
ReturnHeader/Filer/PhoneNum06174972620
ReturnHeader/Filer/USAddress/AddressLine1Txt071 PEARL STREET
ReturnHeader/Filer/USAddress/CityNm0CAMBRIDGE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd002139
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0042206126
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RAPHAEL AND RAPHAEL LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0165 THORNDIKE STREET SUITE 5001
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LOWELL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd001852
ReturnHeader/PreparerPersonGrp/PhoneNum06172101230
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0GARRY TODD NICHOL
ReturnHeader/ReturnTs02024-11-11T09:07:55-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,510,460
Liabilities
$0
Net assets
$2,510,460
Revenue
$90,675
Expenses
$25,831
Net income
$64,844
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.77$0.00$2.77$0.08$0.02$0.06
2024Detailed filing. Detailed filing data is available for this year.$2.51$0.00$2.51$0.09$0.03$0.06
2023Detailed filing. Detailed filing data is available for this year.$2.25$0.00$2.25$0.09$0.02$0.07
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.08$0.00$2.08$0.03$0.02$0.02
2021Detailed filing. Detailed filing data is available for this year.$2.27$0.00$2.27$0.04$0.01$0.03
2020Summary only. Only limited summary data is available for this year.$1.92$0.00$1.92$0.07$0.01$0.06
2019Summary only. Only limited summary data is available for this year.$1.89$0.00$1.89$0.10$0.02$0.09
2018Summary only. Only limited summary data is available for this year.$1.80$0.00$1.80$0.05$0.02$0.03
2017Summary only. Only limited summary data is available for this year.$1.68$0.00$1.68$0.06$0.03$0.03
2016Summary only. Only limited summary data is available for this year.$1.57$0.00$1.57$0.07$0.03$0.10
2015Summary only. Only limited summary data is available for this year.$1.63$0.00$1.63$0.19$0.03$0.16
2014Summary only. Only limited summary data is available for this year.$1.66$0.00$1.66$0.15$0.03$0.11
2013Summary only. Only limited summary data is available for this year.$1.39$0.00$1.39$0.09$0.02$0.07
2012Summary only. Only limited summary data is available for this year.$1.23$0.00$1.23$0.08$0.02$0.06
2011Summary only. Only limited summary data is available for this year.$1.19$0.00$1.19$0.11$0.02$0.09