Melrose Cooperative Bank Foundation

Private foundation · Grantmaker Melrose, MA EIN: 46-5490603

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.

Research compiled by Grantable AI from public sources. Last updated September 2026.

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

Your AI grants department

Ready to take the next step with Melrose Cooperative Bank Foundation?

Fully replaces Grant database subscriptions Instrumentl · Foundation Directory · GrantStation & similar

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

4states

Share of 2025 grant dollars across all 26 itemized grants.

Cities

MelroseMaldenDanversReadingStonehamRevereGloucesterLynnWakefieldBostonDamariscottaMedfordBraintreeBurlingtonGrovelandNew HavenNew YorkPeabodyWestboroughWeston

Giving Over Time

Total grant dollars and number of grants per year

$0$50K$100K$150K30 grants2020 19 grants2021 22 grants2022 29 grants2023 20 grants2024 26 grants2025

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 Food Drive: $27KThe Food Drive$27KMission of Deeds: $17KMission of Deeds$17KGreater Boston Stage Company: $16KGreater Boston Stage Company$16KMelrose Orchestral Association: $10KMelrose Orchestral Association$10KMelrose Affordable Housing Corporation: $10KMelrose Affordable HousingCorporation$10KCommunity Coalition of Melrose Inc: $10KCommunity Coalition of MelroseInc$10KHousing Families Inc: $9KHousing Families Inc$9KFollow Your Art Community Studios Inc: $8KFollow Your Art CommunityStudios Inc$8KFriends of the Middlesex Fells Reservation: $5KFriends of the Middlesex FellsReservation$5KMystic Valley Elder Services: $5KMystic Valley Elder Services$5K

The largest 2025 recipient was The Food Drive ($27K). Together the top 10 received $115K.

Grant Size Distribution

116 grants across all recorded years

116<$50K$50–100K$100–250K$250–500K$500K–1M$1–5M$5M+

The most common grant size was under $50K: 116 grants of 116 (100%).

Giving History

Grant recipients and amounts by year

RecipientPurposeAmount
The Food Drive Melrose, MAGeneral OperatingSupport$27,000
Mission of Deeds Reading, MAGeneral OperatingSupport$17,000
Greater Boston Stage Company Stoneham, MAGeneral OperatingSupport$15,500
Melrose Orchestral Association Melrose, MAGeneral OperatingSupport$10,000
Melrose Affordable Housing Corporation Melrose, MAGeneral OperatingSupport$10,000
Community Coalition of Melrose Inc Melrose, MAGeneral OperatingSupport$9,500
Housing Families Inc Malden, MAGeneral OperatingSupport$8,500
Follow Your Art Community Studios Inc Melrose, MAGeneral OperatingSupport$7,500
Friends of the Middlesex Fells Reservation Melrose, MAGeneral OperatingSupport$5,000
Mystic Valley Elder Services Malden, MAMoney 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
Revenue
Expenses
Qualifying Distributions
Net Investment Income
$0$500K$1M$1.5M$2M2020 2021 2022 2023 2024 2025
Metric202520242023
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

  1. Updated Form 990-PF for fiscal year 2020 (received by the IRS November 8, 2021)
  2. Updated Form 990-PF for fiscal year 2021 (received by the IRS May 12, 2022)
  3. Updated Form 990-PF for fiscal year 2022 (received by the IRS March 22, 2023)
  4. Updated Form 990-PF for fiscal year 2023 (received by the IRS July 22, 2024)
  5. Updated Form 990-PF for fiscal year 2024 (received by the IRS May 15, 2025)
  6. Updated Form 990-PF for fiscal year 2025 (received by the IRS March 25, 2026)
  7. 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.

Your AI grants department

Here's the math on researching Melrose Cooperative Bank Foundation by hand.

Explore Open Grants

Browse active grant opportunities in Melrose Cooperative Bank Foundation's focus areas in our free grants database

Similar Funders

Funders that support many of the same organizations

People's United Community Foundation

Bridgeport, CT

People’s United Community Foundation previously funded preselected charitable organizations, with grants totaling $854,450 in 2021 and $107,500 across five grants in 2022; these figures suggest varied giving levels, and no geographic focus is stated. It does not accept unsolicited requests, and its 2022 return was marked final, with no grants reported in 2023.

Philanthropy, Voluntarism & Grantmaking

Assets

$15.1M

Grants

5

Total Given

$108K

Dante Dieso Foundation Trust

Melrose, MA

Assets

$4.5M

Grants

6

Total Given

$18K

Cambridge Savings Charitable

Cambridge, MA

Cambridge Savings Charitable funds affordable housing, shelters, transitional housing, food insecurity, and financial education for underserved residents in Middlesex, Suffolk, Essex, and Norfolk counties, Massachusetts. Its website lists grants up to $5,000 and sponsorships up to $2,500 per organization per year; 2025 grants ranged from $21 to $100,000, with a median of $4,000. It states that it contributes only to preselected charities and does not accept unsolicited requests.

Philanthropy, Voluntarism & Grantmaking

Assets

$947K

Grants

205

Total Given

$1.8M

Stoneham Charitable Foundation Inc

Stoneham, MA

Stoneham Charitable Foundation supports affordable housing, community services, economic development, community revitalization, and public services in economically underserved communities served by Stoneham Bank. Its 2026 grants ranged from $150 to $31,250, with a median of $2,250, and went to Massachusetts recipients. It considers funding requests through Stoneham Bank; applicants submit a funding request form, and awards are made case by case.

Philanthropy, Voluntarism & Grantmaking

Assets

$38K

Grants

14

Total Given

$119K

Rockland Trust - East Boston Savings Bank Foundation Inc

Rockland, MA

This foundation’s final 2022 filing reported grants for affordable housing, community development, education, financial literacy, health and human services, and youth programs, primarily serving communities in Massachusetts. Its 2022 grants ranged from $1,000 to $10,000, with a median of $5,000; the foundation wound down after transferring its remaining assets in a merger, so it should not be treated as an active funder. The final filing said an application was available, but those instructions are not current application guidance.

Assets

—

Grants

43

Total Given

$179K

The Savings Bank Charitable Foundation

Wakefield, MA

The Savings Bank Charitable Foundation supports Massachusetts organizations serving people in need through food, shelter, youth, elder, health, and community programs, with a stated focus on Wakefield and nearby areas. Its 2025 grants ranged from $1,000 to $6,500, with a median of $3,000. It gives only to preselected organizations and does not accept unsolicited requests.

Philanthropy, Voluntarism & Grantmaking

Assets

$958K

Grants

23

Total Given

$68K

Massachusetts Bankers Association

Boston, MA

The Massachusetts Bankers Association funds a range of charitable causes, including education, financial literacy, housing, and support services, with most grant dollars going to Massachusetts organizations. Its 2025 grants ranged from $100 to $44,000, with a median of $5,500; it funds only preselected organizations and does not accept unsolicited requests.

Assets

$2.7M

Grants

31

Total Given

$195K

Piccolo Family Charitable Foundationinc

Malden, MA

The foundation funds 501(c)(3) organizations, Melrose and Malden city agencies, and scholarships for deserving students, with most 2024 grants going to Massachusetts recipients. Its 2024 grants ranged from $500 to $30,000, with a median of $3,500. It does not restrict giving to preselected organizations; prospective applicants are directed to contact C Henry Kezer, though whether it accepts unsolicited requests is not stated.

Assets

$1.4M

Grants

20

Total Given

$115K

Northern Bank & Trust Charitable Foundation Inc

Woburn, MA

Northern Bank & Trust Charitable Foundation funds affordable housing and shelter, hunger relief, community development, and financial literacy, with applicants expected to serve Middlesex County, Massachusetts. Its 2025 grants ranged from $1,000 to $250,000, with a median of $10,000. It accepts online grant proposals quarterly; the filing says it considers requests over $2,500, while its Community Giving Grant program offers awards up to $2,500.

Philanthropy, Voluntarism & Grantmaking

Assets

$626K

Grants

64

Total Given

$971K

Eastern Bank Foundation

Wakefield, MA

Eastern Bank Foundation funds systemic efforts to advance economic inclusion and mobility, including small-business equity, early childhood development, affordable housing, and workforce development. Its programs range from $1,000–$10,000 for Community Donations, up to $15,000 for CITC Grants, and $50,000–$150,000 for Impact Grants; it supports organizations primarily in Massachusetts, New Hampshire, and Rhode Island. The foundation accepts online applications, with no specific submission deadlines stated.

Assets

$266.7M

Grants

1,786

Total Given

$19.0M

East Cambridge Savings Charitable

East Cambridge, MA

East Cambridge Savings Charitable funds social service, cultural, educational, arts, community, and economic development programs serving Cambridge, Massachusetts, and nearby communities. In 2025, grants ranged from $1,000 to $10,000, with a median of $1,750. Applications are available from the foundation; it does not limit grants to preselected organizations.

Philanthropy, Voluntarism & Grantmaking

Assets

$112K

Grants

33

Total Given

$97K

Everett Co-Operative Bank Charitable

Everett, MA

The foundation supports charitable organizations across community services, health, children’s programs, and food access, with nearly all 2025 grants going to Massachusetts recipients. Its 38 grants ranged from $250 to $15,000, with a median of $1,000. It gives only to preselected organizations and does not accept unsolicited requests.

Philanthropy, Voluntarism & Grantmaking

Assets

$4.7M

Grants

38

Total Given

$113K

More Funders in Massachusetts

Melrose Cooperative Bank Foundation down — hundreds of funders to go?

Want AI to do this for you?