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.
Key facts about Mary Alice Arakelian Foundation
- EIN
- 04-6155695
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $627,697
- Grants made (2024)
- 28
- Average grant
- $22,418
- Median grant
- $10,000
- New grantees (estimate)
- 32% first-time grantees (9 of 28, 2024)
- Total assets
- $5,670,597
- Primary geography
- Massachusetts (91% of itemized 2024 grant dollars)
Data from IRS Form 990-PF, 2024; updated September 2026. New grantees are estimated by matching recipient names across years (methodology).
Who Mary Alice Arakelian Foundation funds
By grant dollars, the top recipient states for Mary Alice Arakelian Foundation's 28 itemized 2024 grants were Massachusetts (91%). The most frequent recipient cities were Newburyport, MA (12 grants), Boston, MA (3 grants), Amesbury, MA (2 grants) and Salisbury, MA (2 grants). None of its 28 grants with a stated purpose were described as general or operating support. Recurring purposes include "UnrestrictedGeneral Support" (28 grants).
Is Mary Alice Arakelian Foundation open to new grantees?
32%
first-time grantees, 2024
In 2024, 9 of 28 grantees (32%) were first-time recipients. First grants averaged $10K; repeat grants $29K. How we count
Medians: $5K first-time, $12K repeat.
- 57% of 2024 grantees were also funded in 2023. Method
- Giving grew 39% from 2021 to 2024. Method
- In 2024 it paid out 168% of its IRS minimum distribution (the 5% rule). Method
Estimate from itemized IRS Form 990-PF grant lists (2020–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Next steps with Mary Alice Arakelian Foundation
- How to evaluate Mary Alice Arakelian Foundation as a funder
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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
Under IRS private-foundation payout rules, Mary Alice Arakelian Foundation reported a distributable amount of $396K for 2024 — the minimum it must pay out in qualifying distributions.
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:
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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
Share of all 28 itemized 2024 grant dollars.
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 |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
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
Among its reported 2024 grants, the largest recipients include City of Newburyport ($200,000), Anna Jaques Hospital ($115,000), Newburyport Education Foundation ($41,821).
| Recipient | Purpose | Amount |
|---|---|---|
| City of Newburyport Newburyport, MA | UnrestrictedGeneral Support | $200,000 |
| Anna Jaques Hospital Newburyport, MA | UnrestrictedGeneral Support | $115,000 |
| Newburyport Education Foundation Newburyport, MA | UnrestrictedGeneral Support | $41,821 |
| WBUR Boston, MA | UnrestrictedGeneral Support | $30,000 |
| Our Neighbor's Table Amesbury, MA | UnrestrictedGeneral Support | $20,000 |
| Opportunity Works Newburyport, MA | UnrestrictedGeneral Support | $20,000 |
| Custom Houses Museum Newburyport, MA | UnrestrictedGeneral Support | $20,000 |
| Pettengill House Salisbury, MA | UnrestrictedGeneral Support | $15,000 |
| YWCA of Greater Newburyport Newburyport, MA | UnrestrictedGeneral Support | $15,000 |
| Kolman - University of New Hampshir Durham, NH | UnrestrictedGeneral Support | $14,240 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 IRS 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 scholarshipsFrequently Asked Questions
What does Mary Alice Arakelian Foundation fund?
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
How do I apply for a grant from Mary Alice Arakelian Foundation?
**Grant Characteristics:** • Typical award range: $1,500–$200,000 • Grant type: Primarily unrestricted general support **Recent Grant Activity (2024):** The foundation made 21 grants in 2024, totaling $627,697. Notable recent grants include: • City Improvement Society of Newburyport: $200,000 • Anna Jaques Hospital: $115,000 • Newburyport Education Foundation: $41,821 **Scholarship Program:** The Mary Alice Arakelian Scholarship awards two scholarships of $10,000 each annually to Newburyport Hi…
Where does Mary Alice Arakelian Foundation make grants?
The foundation primarily funds organizations in the greater Newburyport area, with some giving in Massachusetts, New Hampshire, and Virginia.
What size grants does Mary Alice Arakelian Foundation award?
In 2024, Mary Alice Arakelian Foundation awarded 28 grants totaling $628K — an average of about $22K per grant, based on its IRS Form 990 filings.
How much is Mary Alice Arakelian Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Mary Alice Arakelian Foundation reported a distributable amount of $396K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Mary Alice Arakelian Foundation's EIN?
Mary Alice Arakelian Foundation's EIN (Employer Identification Number) is 04-6155695. IRS Form 990 filing data is available on this page for 2020–2024.
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Data last updated September 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.