Mary Alice Arakelian Foundation
The Mary Alice Arakelian Foundation is a private foundation based in Newburyport, Massachusetts, established in the 1960s by Nicholas Arakelian in memory of his wife, Mary Alice. The foundation provides grants to non-profit organizations and scholarships to students in the greater Newburyport area.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$5.7M
-4.3% YoY
Annual Giving
$628K
+60.9% YoY
Grant Count
28
+12.0% YoY
Avg Grant Size
$22K
+43.7% YoY
Mission & Focus Areas
The foundation provides unrestricted general support to non-profit organizations and scholarships paid directly to universities on behalf of students. Primary funding areas include:
- Charitable contributions to non-profit organizations
- Educational scholarships
- Community health and wellness
- Human services
- Philanthropy and voluntarism
Grantmaking
The foundation made 21 grants in 2024, totaling $627,697. Notable recent grants include:
Ready to take the next step with Mary Alice Arakelian Foundation?
Geographic Focus
Where this funder awards grants
The foundation primarily funds organizations in the greater Newburyport area, with some giving in Massachusetts, New Hampshire, and Virginia.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
As of 2024:
- Total assets: $5,670,597
- Total revenues: $456,226
- Total expenses: $713,276
- Total giving: $627,697
- Number of employees: 0
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $5,670,597 | $5,927,647 | $6,167,116 |
| Revenue | $456,226 | $249,716 | $129,932 |
| Expenses | $713,276 | $489,185 | $498,300 |
| Qualifying Distributions | $666,725 | $431,536 | $431,413 |
| Net Investment Income | $409,675 | $192,067 | $118,055 |
| Distributable Amount | $396,328 | $374,812 | $394,143 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
114 grants across all recorded years
Open Grants
1 open opportunity from Mary Alice Arakelian Foundation
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Mark F Welch | Co-Trustee | 1 | $18,000 |
| Kimberly A Rock | Co-Trustee | 1 | — |
| Anna Makos | Co-Trustee | 1 | — |
| John F Leary III | Co-Trustee | 1 | — |
Recent Activity
Recent developments and announcements
The foundation has supported heritage preservation efforts, including grants to Oak Hill Cemetery in Newburyport for heritage tree, gravestone, and chapel restoration projects since 2007.
The scholarship program continues to award annually, with two recipients selected each year. Recent scholarship recipients include Stephen D'Ambrosio and Fionna Marino (2024), Gianna McKeown and Deidre McElhinney (2023), and Lauren Kolman and Mia Yim (2022).
AYF-YOARF Eastern Region awards $18,500 in scholarshipsRelated Funders
Similar funders by location and focus area
Charles J Tasker Memorial Scholarship Fund
HANOVER, MA
Assets
$98K
Grants
1
Total Given
$8K
Marshall M & Barbara J Sloane Pvt Found
CHESTNUT HILL, MA
Assets
$1.2M
Grants
11
Total Given
$75K
John J Mcardle Iii & Joan C Mcardle
ANDOVER, MA
Assets
$1.8M
Grants
13
Total Given
$205K
Massachusetts Association of Realtors
FOXBOROUGH, MA
Assets
$18.1M
Grants
2
Total Given
$71K
Communities for Restorative Justice
BOSTON, MA
Assets
$524K
Grants
1
Total Given
$61K
Hingham Historical Society Inc
HINGHAM, MA
Assets
$7.4M
Grants
1
Total Given
$10K
Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
What could you do with Mary Alice Arakelian Foundation on Grantable?
- Assess strategic fit with your organization
- Draft a tailored letter of inquiry
- Find open RFPs from this funder
- Monitor for new funding opportunities