Framingham State University Foundation Inc

Public charity · Grantmaker Framingham, MA EIN: 04-2742666

To receive and maintain funds to be used in the best interest of framingham state university for the development, promotion and benefit of the university and its students.

Key facts about Framingham State University Foundation Inc

In short: Framingham State University Foundation Inc gave $265K across 1 grant in 2025 (avg $265K), mostly in Massachusetts. Source: 2025 IRS Form 990.

EIN
04-2742666
Latest 990 filing
Form 990, 2025
Annual giving (2025)
$265,219
Grants made (2025)
1
Average grant
$265,219
Median grant
$265,219
Total assets
$23,661,699
Primary geography
Massachusetts (100% of itemized 2025 grant dollars)

Data from IRS Form 990, 2025; updated September 2026.

Financial Overview

From 2025 IRS Form 990 · View filing

Total Assets

$23.7M

+40.8% YoY

Annual Giving

$265K

-32.7% YoY

Grant Count

1

+0.0% YoY

Avg Grant Size

$265K

-32.7% YoY

How Framingham State University Foundation Inc gives

  • Giving fell 38% from 2022 to 2025. Method

From the foundation's IRS Form 990 filings. Methodology.

About Framingham State University Foundation Inc

Based on IRS filings

Framingham State University Foundation Inc is a public charity, based in Framingham, MA. IRS filing data is available from 2021 through 2025. As of 2025, the organization holds $23.7M in total assets. In 2025, it awarded 1 grant totaling $265K. Net investment income was $1.1M.

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

1state

Share of the 2025 grant dollars on its one itemized grant.

Cities

Framingham

Giving Over Time

Total grant dollars and number of grants per year

$0$200K$400K$600K1 grant2021 1 grant2022 1 grant2023 1 grant2024 1 grant2025

From 2021 to 2025, annual grant giving ranged from $128K (2021) to $526K (2023). In 2025 it made 1 grant totaling $265K.

Grant Insights

How this funder distributes its grants

Top Recipients

Top recipient in 2025

Framingham State University: $265KFramingham State University$265K

The largest 2025 recipient was Framingham State University ($265K).

Grant Size Distribution

5 grants across all recorded years

<$50K$50–100K1$100–250K3$250–500K1$500K–1M$1–5M$5M+

The most common grant size was in the $250–500K range: 3 grants of 5 (60%).

Giving History

Grant recipients and amounts by year

RecipientPurposeAmount
Framingham State University Framingham, MAVarious Programs$265,219

Financial History

Multi-year comparison from IRS filings

Revenue
Expenses
Net Investment Income
$0$2.5M$5M$7.5M$10M2021 2022 2023 2024 2025
Metric202520242023
Total Assets$23,661,699$16,801,842$15,376,898
Revenue$7,989,355$2,100,242$2,093,585
Expenses$1,680,347$1,836,687$1,833,552
Net Investment Income$1,096,027$462,756$407,438

Data update history

When this profile's IRS filing data changed on Grantable

  1. Updated Form 990 for fiscal year 2021 (received by the IRS November 3, 2021)
  2. Updated Form 990 for fiscal year 2022 (received by the IRS October 19, 2022)
  3. Updated Form 990 for fiscal year 2023 (received by the IRS October 26, 2023)
  4. Updated Form 990 for fiscal year 2024 (received by the IRS October 15, 2024)
  5. Updated Form 990 for fiscal year 2025 (received by the IRS October 31, 2025)
  6. IRS filings on file for fiscal years 2021–2025

Leadership & Key People

Officers and directors from IRS filings

Framingham State University Foundation Inc is led by Eric Gustafson, Executive Director on every filing since 2021; none of the 29 officers listed in 2025 report compensation.

Officers on the 2025 filing

  • Eric Gustafson

    Executive Director

    On filings since 2021

    40 hrs/week

    No compensation reported

  • Michael Gatlin

    President

    Director → President, 2024

    On filings since 2021

    1 hr/week

    No compensation reported

  • Claire Esten

    Director

    On filings since 2021

    1 hr/week

    No compensation reported

  • Dennis Alves

    Director

    On filings since 2021

    1 hr/week

    No compensation reported

  • Duc Le

    Director

    On filings since 2021

    1 hr/week

    No compensation reported

  • Helen Heineman

    Director

    On filings since 2021

    1 hr/week

    No compensation reported

  • Joan Murtaugh

    Director

    On filings since 2021

    1 hr/week

    No compensation reported

  • Kevin Foley

    Director

    On filings since 2021

    1 hr/week

    No compensation reported

  • Michelle Murphy

    Director

    On filings since 2021

    1 hr/week

    No compensation reported

  • Pervez Mazeed

    Director

    On filings since 2021

    1 hr/week

    No compensation reported

  • Robert Bonnevie

    Director

    Clerk → Director, 2023

    On filings since 2021

    1 hr/week

    No compensation reported

  • Robert Fields

    Director

    On filings since 2021

    1 hr/week

    No compensation reported

  • Steve Devine

    Director

    On filings since 2021

    1 hr/week

    No compensation reported

  • Elaine Martin

    Director

    On filings since 2022

    1 hr/week

    No compensation reported

  • Juan Rodriguez

    Director

    On filings since 2022

    1 hr/week

    No compensation reported

  • Ann Muir

    Director

    New on the 2025 filing

    1 hr/week

    No compensation reported

  • Debra Cleveland

    Director

    New on the 2025 filing

    1 hr/week

    No compensation reported

  • Elinor Goodwin

    Director

    New on the 2025 filing

    1 hr/week

    No compensation reported

  • Jospeh Palowich

    Director

    New on the 2025 filing

    1 hr/week

    No compensation reported

  • Kelly Sardella

    Director

    New on the 2025 filing

    1 hr/week

    No compensation reported

  • Maureen Remeika

    Director

    New on the 2025 filing

    1 hr/week

    No compensation reported

  • Michele Saulis

    Director

    New on the 2025 filing

    1 hr/week

    No compensation reported

  • Robert Powers

    Director

    New on the 2025 filing

    1 hr/week

    No compensation reported

  • Serena Gilchrest

    Director

    New on the 2025 filing

    1 hr/week

    No compensation reported

  • Steven Whittemore

    Director

    New on the 2025 filing

    1 hr/week

    No compensation reported

  • James Hastings

    Treasurer

    On filings since 2021

    1 hr/week

    No compensation reported

  • Kathleen Freeman

    Vice President

    Director → Vice President, 2022

    On filings since 2021

    1 hr/week

    No compensation reported

  • Margaret Guardiani

    Clerk

    Director → Clerk, 2023

    On filings since 2021

    1 hr/week

    No compensation reported

  • Robert Power

    Assistant Treasurer

    Director → Assistant Treasurer, 2025

    On filings since 2021

    1 hr/week

    No compensation reported

Former officers (10)
  • Former: Barbara Gardner (2021–2024) — Director
  • Former: Daniel Remillard (2021–2024) — Director
  • Former: David Weinberg (2021–2024) — Director
  • Former: Joseph Palowich Jr. (2021–2024) — Director
  • Former: Brian Lannigan (2021–2023) — Director
  • Former: Robert Ramrath (2021–2023) — President
  • Former: Robert Zaccardi (2021–2023) — Director
  • Former: Derek Canton (2021–2022) — Director
  • Former: Joseph Tosches (2021–2022) — Director
  • Former: Timothy Cornely (2021) — Director

Data from IRS Form 990 filings, 2021–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.

Frequently asked questions about Framingham State University Foundation Inc

How much does Framingham State University Foundation Inc give each year?

Framingham State University Foundation Inc gave $265K across 1 grant in 2025, according to its 2025 IRS Form 990. In 2024 it gave $394K across 1 grant.

How large is Framingham State University Foundation Inc?

Framingham State University Foundation Inc reported $23.7M in total assets on its 2025 IRS Form 990. Its revenue that year was $8.0M.

Where does Framingham State University Foundation Inc operate?

Framingham State University Foundation Inc has awarded grants in Massachusetts.

What is Framingham State University Foundation Inc's EIN?

Framingham State University Foundation Inc's EIN (Employer Identification Number) is 04-2742666. IRS Form 990 filing data is available on this page for 2021–2025.

Data last updated September 2026. Sourced from IRS Form 990 filings.

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