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Gloucester Fund Inc

EIN 04-3521016 · Gloucester, MA

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthStrong100 out of 100GovernanceFair54 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

THE ORGANIZATION'S MISSION IS TO PROMOTE CIVIC, CULTURAL, EDUCATIONAL, ATHLETIC AND BENEVOLENT PURPOSES OR ACTIVITIES IN BENEFIT OF THE CITIZENS OF GLOUCESTER, MASSACHUSETTS. ITS MOTTO IS "PARTNERING WITH THE COMMUNITY TO BENEFIT THE COMMUNITY".

Income
$209,678
Spending
$178,867
Spent on programs
96%
Reserves
22.3 months of spending
Largest source of income
donations and private grants, 92%
Employees
0
Volunteers
0

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Strong: 100 out of 100. Higher than 82% of charities in its peer group (philanthropy, under $250k).

  • Reserves

    35 of 35

    Spendable reserves would cover 22.3 months of spending.

  • Debt

    20 of 20

    It owes 0% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 15% of income.

  • Income trend

    15 of 15

    Income rose 11% on the year before.

  • Spending floor

    15 of 15

    96% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Fair: 54 out of 100. Higher than 36% of charities in its peer group (philanthropy, under $250k).

  • Independent board

    18 of 25

    3 of 4 voting board members are independent.

  • Conflict of interest policy

    0 of 15

    Reports no written conflict of interest policy.

  • Whistleblower policy

    0 of 8

    Reports no written whistleblower policy.

  • Record keeping policy

    0 of 7

    Reports no written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (4)
  1. $97,523 spent. DURING 2024, THE ORGANIZATION CONTINUED ITS SUPPORT FOR AND ON-GOING PRESENTATION OF CIVIC EVENTS FOR THE CITY OF GLOUCESTER, INCLUDING SUMMERTIME CONCERTS AND U.S. FLAGS DISPLAY, JULY 4TH AND LABOR DAY FIREWORKS,THE CITY'S UNIQUE FISHTOWN HORRIBLES PARADE, A KIDS HALLOWEEN FESTIVAL, THE CITY'S CHRISTMAS TREE DISPLAY, SANTA PARADE AND A HOLIDAY HISTORIC AREA WALK.
  2. $55,502 spent. DURING 2024, THE ORGANIZATION CONTINUED ITS ON-GOING SUPPORT OF THE GLOUCESTER POLICE DEPARTMENT'S COMMUNITY IMPACT UNIT, WHICH ADMINISTERS AN INNOVATIVE KOPS-N-KIDS COMMUNITY OUTREACH PROGRAM AIMED AT BUILDING POSITIVE RELATIONSHIPS BETWEEN GLOUCESTER CHILDREN AND POLICE OFFICERS. THE UNIT ALSO PROVIDES SUBSTANCE ABUSE RECOVERY TRAINING CLASSES RUN BY PROFESSIONAL RECOVERY COACHES.
  3. $14,565 spent. DURING 2024, THE ORGANIZATION'S THIRD LARGEST PROGRAM SERVICE ACCOMPLISHMENT WAS SUPPORT OF THE CITY OF GLOUCESTER'S HISTORIC AND CULTURAL HERITAGE. THE ORGANIZATION SUPPORTED A PROGRAM WITH A GOAL TO PRODUCE TEN PUBLIC ART MURALS IN VARIOUS LOCATIONS AROUND THE CITY. IT ALSO CONTINUED A PROJECT TO RESTORE BRONZE PLAQUES WHICH COMMEMORATE THE CITY'S HISTORIC IDENTITY.
  4. $4,858 spent. OTHER PROGRAM SERVICES CONSISTED OF OUTREACH TO AND SUPPORT OF GLOUCESTER CITIZENS, INCLUDING A CANCER PATIENT AND AN INDIVIDUAL SEVERELY INJURED WHEN HIT BY A CAR. THE ORGANIZATION MAINTAINS A MEMORIAL FOR GOLD STAR FAMILIES. AN ANNUAL MEMORIAL SERVICE IS HELD FOR GLOUCESTER FISHERMEN LOST AT SEA.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since November 2001.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.