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Economic Empowerment Trust Fund

EIN 38-3865038 · Boston, MA

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

LegitimacyPassesRegistration and standingFinancial healthGood70 out of 100GovernanceGood81 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

Charitable, Literary & Educational

Income
$532,441
Spending
$692,068
Spent on programs
100%
Reserves
15.9 months of spending
Largest source of income
donations and private grants, 100%
Employees
0

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Good: 70 out of 100. Higher than 43% of charities in its peer group (human services, $250k to $1m).

  • Reserves

    35 of 35

    Spendable reserves would cover 15.9 months of spending.

  • Debt

    20 of 20

    It owes 0% of what it owns.

  • Living within its means

    0 of 15

    Spending exceeded income by 30% of income.

  • Income trend

    0 of 15

    Income fell 25% on the year before.

  • Spending floor

    15 of 15

    99% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Good: 81 out of 100. Higher than 63% of charities in its peer group (human services, $250k to $1m).

  • Independent board

    25 of 25

    14 of 14 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    0 of 8

    Reports no written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    0 of 10

    Did not give the board a copy of this return before filing it.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

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

Source: Form 990 for the year ending June 30, 2025, 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 (13)
  1. $641,430 spent. The BabySteps Savings Plan consists of two (2)programs. - Babysteps and SNAP into BabySteps. BabySteps is a seeded college savings program that has grown statewide from the SeedMA pilot program. During FY25,approximately 11,500 newly opened U.Fund 529 accounts were funded with the $50 seed deposit funded by EETF. SNAP into BabySteps is a pilot program in which every Massachusetts child enrolled in both BabySteps Savings Plan and SNAP benefits program is eligible to receive an addtional monthly deposit of $10 to their MEFA U.Fund 529 account over the span of one year. The program began in September of 2024 and has funded approximately $62,000 in FY2025. The program is run in partnership with Mass Dept of Transitional Assistance.
  2. $30,095 spent. Worth & Wealth W&W is a free multisession workshop program that provides financial education and financial wellness learning opportunities related to money management, retirement, and investment strategies.To further support participants in their financial journey, the W&W program offers access to free financial coaching with an accredited coach. The webinars and coaching sessions were available in available in English and Spanish. In FY24, $40,000.00 was received from Citizens Bank for workshops and coaching which ran from October 2024 through April 2025.
  3. $1,248 spent. The Financial Wellness Program for State Employees and Retirees Financial Wellness FinWell was a program that provided free financial education for Massachusetts state employees and retirees. Funding was received in FY21 from the Wells Fargo Foundation through the National Association of State Treasurers NAST. This program ended in December 2024.
  4. $15,800 spent. Refer to Schedule O
  5. Expenses: $15800.00 including grants of: $0.00 Revenue: $9948.00
  6. The Community Ambassadors Program is an initiative of the Office of
  7. Economic Empowerment OEE, aimed at increasing the number of
  8. Massachusetts residents who possess a strong understanding of
  9. Financial foundations. OEE achieves this by creating a network of
  10. community spokespeople tasked with delivering financial education
  11. within their communities. The Community Ambassadors Program
  12. was funded by the Economic Empowerment Trust Fund EETF for
  13. Its first two cohorts through December 2024.

Source: Form 990 for the year ending June 30, 2025, 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 June 2025.

    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 August 2012.

    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.