Melrose Cooperative Bank Foundation
Melrose Cooperative Bank Foundation is a private foundation based in Melrose, Massachusetts, with grantmaking reported on Form 990-PF. In 2025, it awarded 26 grants totaling $145,000, with nearly all reported grant dollars going to Massachusetts recipients.
Melrose Cooperative Bank Foundation at a glance
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.
- Annual giving (2025)
- $145,000
- +28.9% vs 2024
- Grants made (2025)
- 26
- +30.0% vs 2024
- Average grant
- $5,577
- -0.9% vs 2024
- Median grant
- $2,500
- Total assets
- $2,302,719
- -2.7% vs 2024
- New grantees (estimate)
- 15% first-time grantees (4 of 26, 2025)
- Primary geography
- Massachusetts (99% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to Melrose Cooperative Bank Foundation
- How to Apply
-
The foundation’s 2024 filing says to contact Melrose Coop Foundation and refer to the attached application checklist, application deadlines, and eligibility requirements.
- Contact
Application contact: Melrose Coop Foundation
Mailing address: PO Box 761145, Melrose, MA 02176
Phone: (781) 587-2108
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Open Grants
1 open opportunity from Melrose Cooperative Bank Foundation
Who Melrose Cooperative Bank Foundation funds
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%).
Geographic Focus
Where this funder awards grants
In 2025, 99% of grant dollars went to Massachusetts recipients and 1% to Maine recipients. The listed recipients include organizations in Melrose and nearby Massachusetts communities.
Grant Distribution by State
Share of 2025 grant dollars across all 26 itemized grants.
Cities
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.
Giving History
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.
Grants by year
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 |
Ready to take the next step with Melrose Cooperative Bank Foundation?
Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $2,302,719 | $86,416 | $151,338 | $145,000 | 26 | $149,186 | $93,164 | $142,986 |
| 2024 | $2,367,641 | $73,060 | $121,742 | $112,500 | 20 | $116,760 | $90,342 | $133,158 |
| 2023 | $2,416,323 | $105,433 | $133,016 | $126,300 | 29 | $129,715 | $99,581 | $114,576 |
| 2022 | $2,301,090 | $90,608 | $128,828 | $111,000 | 22 | $115,355 | $87,166 | $121,921 |
| 2021 | $3,008,171 | $116,815 | $163,960 | $107,500 | 19 | $110,525 | $88,313 | $139,885 |
| 2020 | $2,683,747 | $1,578,401 | $122,571 | $105,700 | 30 | — | $1,567,392 | $103,698 |
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.
Research compiled by Grantable AI from public sources. Last updated October 2026.
Mission & Focus Areas
No mission statement for the foundation is provided. Its 2025 grants show support for organizations working in areas including food access, housing, arts and culture, and family and community services. For example, The Food Drive describes its work as promoting food access, food justice, and climate action; Melrose Affordable Housing Corporation says it provides affordable rental rates for people with low incomes; and Greater Boston Stage Company describes its work as professional theatre and dramatic education.
Grantmaking
In 2025, the foundation reported 26 grants totaling $145,000. Grants ranged from $1,000 to $27,000, with a median of $2,500. The largest 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. These awards were reported for general operating support.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists these 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.
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?
No mission statement for the foundation is provided. Its 2025 grants show support for organizations working in areas including food access, housing, arts and culture, and family and community services. See mission & focus areas ↑
How do I apply for a grant from Melrose Cooperative Bank Foundation?
The foundation’s 2024 filing says to contact Melrose Coop Foundation and refer to the attached application checklist, application deadlines, and eligibility requirements. 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 October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated October 2026.
Data update history
(7)
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
Live grants for the work Melrose Cooperative Bank Foundation funds
Philanthropy, Voluntarism & Grantmaking Open opportunities, soonest deadline first.
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Cite this profile
Grantable. (2026). Melrose Cooperative Bank Foundation funder profile. GrantGraph. Retrieved October 20, 2026, from https://grantable.co/funders/melrose-cooperative-bank-foundation-morg_409dab600b314a789aeda2768e0164fa
BibTeX
@misc{grantable_465490603_2026,
author = {{Grantable}},
title = {{Melrose Cooperative Bank Foundation funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/melrose-cooperative-bank-foundation-morg_409dab600b314a789aeda2768e0164fa},
note = {Accessed 2026-10-20. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from Melrose Cooperative Bank Foundation's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
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