Melrose Cooperative Bank Foundation
Melrose Cooperative Bank Foundation is a private foundation based in Melrose, Massachusetts. It provides financial support to charitable and community service organizations in its community.
Key facts about Melrose Cooperative Bank Foundation
In short: Melrose Cooperative Bank Foundation gave $145K across 26 grants in 2025 (avg $6K), mostly in Massachusetts. 15% of 2025 grantees were new. Source: 2025 IRS Form 990-PF.
- EIN
- 46-5490603
- Latest 990 filing
- Form 990-PF, 2025
- Annual giving (2025)
- $145,000
- Grants made (2025)
- 26
- Average grant
- $5,577
- Median grant
- $2,500
- New grantees (estimate)
- 15% first-time grantees (4 of 26, 2025)
- Total assets
- $2,302,719
- Primary geography
- Massachusetts (99% of itemized 2025 grant dollars)
- How to apply
- Contact Melrose Coop Foundation. Full details ↓
- Deadline
- See the application deadlines referenced by the Foundation.
Data from IRS Form 990-PF, 2025; updated September 2026. New grantees are estimated by matching recipient names across years (methodology). Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
$2.3M
-2.7% YoY
Annual Giving
$145K
+28.9% YoY
Grant Count
26
+30.0% YoY
Avg Grant Size
$6K
-0.9% YoY
Under IRS private-foundation payout rules, Melrose Cooperative Bank Foundation reported a distributable amount of $143K for 2025 — the minimum it must pay out in qualifying distributions.
Is Melrose Cooperative Bank Foundation open to new grantees?
15%
first-time grantees, 2025
In 2025, 4 of 26 grantees (15%) were first-time recipients. First grants averaged $2K; repeat grants $6K. How we count
Medians: $2K first-time, $3K repeat.
- 65% of 2025 grantees were also funded in 2024. Method
- Giving grew 31% from 2022 to 2025. Method
- In 2025 it paid out 104% of its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2020–2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Mission & Focus Areas
The Foundation’s stated mission is to provide financial support to charitable and community service organizations in its community. Its stated areas of support include education and youth programs, health, human services, affordable housing, and general community support.
Its 2025 grantees illustrate a range of services. The Food Drive says it promotes food access, food justice, and climate action by rescuing and distributing food. Mission of Deeds says it provides donated home goods and furniture to people in need. Greater Boston Stage Company describes its work as professional theatre and dramatic education, while Melrose Affordable Housing Corporation says it offers affordable rental rates for people with low incomes. Housing Families describes its mission as strengthening housing stability.
Grantmaking
The Foundation awarded 26 grants totaling $145,000 in 2025. Grants ranged from $1,000 to $27,000, with a median of $2,500. Its largest 2025 grants included $27,000 to The Food Drive, $17,000 to Mission of Deeds, $15,500 to Greater Boston Stage Company, and $10,000 each to Melrose Orchestral Association and Melrose Affordable Housing Corporation.
Review Cycle
. The Foundation states that applicants may reapply if a prior submission was denied because of missing information or relevance. It does not fund political activities or individual scholarships.
Open Grants
1 open opportunity from Melrose Cooperative Bank Foundation
Ready to take the next step with Melrose Cooperative Bank Foundation?
Geographic Focus
Where this funder awards grants
The Foundation’s grant program supports community service organizations in Melrose and surrounding areas. In 2025, 99% of grant dollars went to recipients in Massachusetts and 1% to recipients in Maine.
Grant Distribution by State
Share of 2025 grant dollars across all 26 itemized grants.
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2025, annual grant giving ranged from $106K (2020) to $145K (2025). In 2025 it made 26 grants totaling $145K.
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was The Food Drive ($27K). Together the top 10 received $115K.
Grant Size Distribution
116 grants across all recorded years
The most common grant size was under $50K: 116 grants of 116 (100%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| The Food Drive Melrose, MA | General OperatingSupport | $27,000 |
| Mission of Deeds Reading, MA | General OperatingSupport | $17,000 |
| Greater Boston Stage Company Stoneham, MA | General OperatingSupport | $15,500 |
| Melrose Orchestral Association Melrose, MA | General OperatingSupport | $10,000 |
| Melrose Affordable Housing Corporation Melrose, MA | General OperatingSupport | $10,000 |
| Community Coalition of Melrose Inc Melrose, MA | General OperatingSupport | $9,500 |
| Housing Families Inc Malden, MA | General OperatingSupport | $8,500 |
| Follow Your Art Community Studios Inc Melrose, MA | General OperatingSupport | $7,500 |
| Friends of the Middlesex Fells Reservation Melrose, MA | General OperatingSupport | $5,000 |
| Mystic Valley Elder Services Malden, MA | Money ManagementProgram | $5,000 |
Financial History
Multi-year comparison from IRS filings
| Filing year | Grants awarded | Number of grants |
|---|---|---|
| 2025 | $145,000 | 26 |
| 2024 | $112,500 | 20 |
| 2023 | $126,300 | 29 |
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $2,302,719 | $2,367,641 | $2,416,323 |
| Revenue | $86,416 | $73,060 | $105,433 |
| Expenses | $151,338 | $121,742 | $133,016 |
| Qualifying Distributions | $149,186 | $116,760 | $129,715 |
| Net Investment Income | $93,164 | $90,342 | $99,581 |
| Distributable Amount | $142,986 | $133,158 | $114,576 |
Data update history
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2020 (received by the IRS November 8, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS May 12, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS March 22, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS July 22, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS May 15, 2025)
- Updated Form 990-PF for fiscal year 2025 (received by the IRS March 25, 2026)
- IRS filings on file for fiscal years 2020–2025
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists the following officers and directors: Mary Beth McAteer-Margolis, President and Director; James Oosterman, Secretary and Director; Diane Indorato, Treasurer and Director; Candy Brower, Stephen Anderson, Elizabeth W McNelis, F Peter Waystack, Alan Whitney, Judith Clark, and Stephanie Nelson, Directors.
Melrose Cooperative Bank Foundation is led by Mary Beth McAteer-Margolis, President & Director on every filing since 2020; none of the 10 officers listed in 2025 report compensation.
Officers on the 2025 filing
Mary Beth McAteer-Margolis
President & Director
On filings since 2020
1 hr/week
No compensation reported
Alan Whitney
Director
On filings since 2020
1 hr/week
No compensation reported
Candy Brower
Director
On filings since 2020
1 hr/week
No compensation reported
Diane Indorato
Treasurer & Director
On filings since 2020
1 hr/week
No compensation reported
Elizabeth W McNelis
Director
On filings since 2020
1 hr/week
No compensation reported
F Peter Waystack
Director
On filings since 2020
1 hr/week
No compensation reported
James Oosterman
Secretary & Director
On filings since 2020
1 hr/week
No compensation reported
Stephen Anderson
Director
On filings since 2020
1 hr/week
No compensation reported
Judith Clark
Director
On filings since 2023
1 hr/week
No compensation reported
Stephanie Nelson
Director
On filings since 2024
1 hr/week
No compensation reported
Former officers (2)
- Former: Frank Giso III (2020–2022) — Director
- Former: Jeffrey D Jones (2020–2022) — Director
Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Contact
Application contact: Melrose Coop Foundation
Mailing address: PO Box 761145, Melrose, MA 02176
Phone: (781) 587-2108
Frequently asked questions about Melrose Cooperative Bank Foundation
How much does Melrose Cooperative Bank Foundation give each year?
Melrose Cooperative Bank Foundation gave $145K across 26 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $113K across 20 grants.
What is Melrose Cooperative Bank Foundation's typical grant size?
Melrose Cooperative Bank Foundation's median grant in 2025 was $2,500, and its average grant was $5,577, across 26 grants on its 2025 IRS Form 990-PF. Organizations receiving their first grant from Melrose Cooperative Bank Foundation that year got $2K on average.
Where does Melrose Cooperative Bank Foundation give grants?
Melrose Cooperative Bank Foundation gives mostly in Massachusetts: 99% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Melrose, MA (14 grants) and Malden, MA (4 grants).
Does Melrose Cooperative Bank Foundation give general operating support?
Yes: 96% of Melrose Cooperative Bank Foundation's 2025 grants with a stated purpose (25 of 26) were for general or operating support, per its 2025 IRS Form 990-PF.
Who are Melrose Cooperative Bank Foundation's largest grantees?
Melrose Cooperative Bank Foundation's largest 2025 grantees include The Food Drive ($27,000), Mission of Deeds ($17,000) and Greater Boston Stage Company ($15,500), according to its 2025 IRS Form 990-PF. Together they received 41% of its itemized 2025 grant dollars.
How large is Melrose Cooperative Bank Foundation?
Melrose Cooperative Bank Foundation reported $2.3M in total assets on its 2025 IRS Form 990-PF. It paid out $149K in qualifying distributions that year, against a required minimum of $143K (roughly 5% of its investment assets).
What does Melrose Cooperative Bank Foundation fund?
The Foundation’s stated mission is to provide financial support to charitable and community service organizations in its community. Its stated areas of support include education and youth programs, health, human services, affordable housing, and general community support. See mission & focus areas ↑
How do I apply for a grant from Melrose Cooperative Bank Foundation?
Contact Melrose Coop Foundation. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Melrose Cooperative Bank Foundation's EIN?
Melrose Cooperative Bank Foundation's EIN (Employer Identification Number) is 46-5490603. IRS Form 990 filing data is available on this page for 2020–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
Here's the math on researching Melrose Cooperative Bank Foundation by hand.
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