MutualOne Charitable Foundation
The MutualOne Charitable Foundation is a private foundation based in Framingham, Massachusetts. Established in 1998, it supports charitable, educational, and civic purposes within MutualOne Bank’s market area, with grants intended to improve quality of life in MetroWest.
MutualOne Charitable Foundation at a glance
In short: MutualOne Charitable Foundation gave $439K across 54 grants in 2025 (avg $8K), mostly in Massachusetts. 28% of 2025 grantees were new. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $438,905
- +10.2% vs 2024
- Grants made (2025)
- 54
- -3.6% vs 2024
- Average grant
- $8,128
- +14.3% vs 2024
- Median grant
- $10,000
- Total assets
- $8,987,600
- -0.9% vs 2024
- New grantees (estimate)
- 28% first-time grantees (14 of 50, 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 MutualOne Charitable Foundation
- How to Apply
-
The foundation’s stated application materials include a cover letter signed by the organization’s Executive Director or Board President, a brief proposal, and a summary sheet. The proposal should describe the applicant organization’s purpose and include information about its board, tax filings, and governance policies; describe the proposed project; explain how progress and impact will be evaluated; and provide a project budget and measures of impact and success. The foundation also requests the organization’s mission and brief history, programs and geographic service area, structure and staff count, and the proposed project and target population. Its stated funding criteria include the needs of the target population, benefits to low- and moderate-income people, expected community impact, the grant’s significance to project implementation, and sustainability after the grant period. The foundation does not fund political or sectarian activities.
- Review Cycle
- Applications are reviewed quarterly, with deadlines on February 1, May 1, August 1, and November 1.
- Deadline
- Applications are reviewed quarterly, with deadlines on February 1, May 1, August 1, and November 1.
- Contact
Application contact: Yves Munyankindi
Mailing address: 160 Cochituate Road 828 Concord Str, Eet, Framingham, MA 01701
Phone: (508) 820-4000
Email: mutualone charitable foundation grant program, charitablefoundation@mutualone.com
Website: https://mutualone.com
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Open Grants
1 open opportunity from MutualOne Charitable Foundation
Who MutualOne Charitable Foundation funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Natick Service Council Inc ($28K across 3 grants). Together the top 10 received $157K.
Grant Size Distribution
327 grants across all recorded years
The most common grant size was under $50K: 327 grants of 327 (100%).
Geographic Focus
Where this funder awards grants
The foundation describes its service area as MutualOne Bank’s market area and says it seeks to improve quality of life for MetroWest residents. Applicants must be located in or serve Framingham, Natick, and surrounding areas. Its stated special emphasis is on projects serving disadvantaged or underserved citizens of Framingham or Natick. In 2025, 99% of reported grant dollars went to recipients in Massachusetts and 1% to recipients in New York.
Grant Distribution by State
Share of 2025 grant dollars across all 54 itemized grants.
Cities
Is MutualOne Charitable Foundation open to new grantees?
28%
first-time grantees, 2025
In 2025, 14 of 50 grantees (28%) were first-time recipients. First grants averaged $8K; repeat grants $9K. How we count
Medians: $8K first-time, $10K repeat.
- 50% of 2025 grantees were also funded in 2024. Method
- Giving held roughly steady from 2022 to 2025 (−7%). Method
- In 2025 it paid out 102% 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 $398K (2024) to $470K (2022). In 2025 it made 54 grants totaling $439K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Metro West YMCA Framingham, MA | Community Development | $16,105 |
| Framingham Public Library Inc Framingham, MA | Community Development | $15,000 |
| Saint Bridget School Framingham, MA | Education | $13,600 |
| Framingham Housing Authority Framingham, MA | Housing | $12,500 |
| A Place to Turn Natick, MA | Community Development | $12,500 |
| Natick Service Council Inc Natick, MA | Community Development | $12,500 |
| St Bridget's Food Pantry Framingham, MA | Community Development | $12,500 |
| Boys & Girls Clubs of Metrowest Marlborough, MA | Community Development | $10,000 |
| Hoops and Homework Inc Framingham, MA | Community Development | $10,000 |
| Metrowest Legal Services Framingham, MA | Community Development | $10,000 |
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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 | $8,987,600 | $393,158 | $473,580 | $438,905 | 54 | $456,176 | $376,358 | $446,946 |
| 2024 | $9,068,022 | $439,555 | $459,354 | $398,385 | 56 | $428,869 | $403,070 | $441,812 |
| 2023 | $9,087,821 | $2,914,696 | $462,469 | $460,519 | 76 | $461,494 | $2,911,771 | $408,933 |
| 2022 | $8,859,923 | $85,082 | $475,621 | $470,434 | 70 | $474,696 | $83,037 | $453,374 |
| 2021 | $9,905,215 | $80,798 | $451,941 | $440,733 | 71 | $451,066 | $79,923 | $483,705 |
| 2020 | $9,477,555 | $179,698 | $414,464 | $410,641 | 60 | — | $177,849 | $440,603 |
Under IRS private-foundation payout rules, MutualOne Charitable Foundation reported a distributable amount of $447K for 2025 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
The foundation’s stated purpose is to promote charitable, educational, and civic purposes within MutualOne Bank’s market area. Its areas of interest are workforce development, health and human services, housing, education, community development, the environment, and the arts. Grant requests may seek program support, seed money, challenge grants, or capital improvements.
Eligible applicants are nonprofit 501(c)(3) organizations or public institutions, such as schools, fire departments, or police departments, located in or serving Framingham, Natick, and surrounding areas. The foundation does not fund political or sectarian activities.
Past grantees illustrate the range of organizations it has supported. Natick Service Council describes its mission as providing assistance and guidance to people in need; Family Promise Metrowest works with families with children facing homelessness; and Literations describes its work as advancing educational equity by empowering young readers. These are the grantees’ stated missions, not the foundation’s.
Grantmaking
In filing year 2025, the foundation reported 54 grants totaling $438,905. Grant amounts ranged from $1,000 to $16,105, with a median of $10,000. Among its largest reported grants were $16,105 to Metro West YMCA for community development; $15,000 to Framingham Public Library Inc. for community development; $13,600 to Saint Bridget School for education; and $12,500 each to Framingham Housing Authority for housing, A Place to Turn for community development, Natick Service Council for community development, and St Bridget’s Food Pantry for community development.
The foundation’s website announced that it awarded $80,500 to local nonprofits in May 2026. The announced grants included five awards of $10,000 to Big Brothers Big Sisters Central Mass and Metrowest, Framingham Economic Development Corporation, Literations, Spark Kindness, and Saint Bridget School. Other announced awards included $5,000 each to Adolescent Consultation Services, Citizens for Juvenile Justice, and Medfield Afterschool Program; $8,000 to Wildstar Equine Assisted Activities and Therapy; and $7,500 to Dignity Matters.
Leadership & Key People
Officers and directors from IRS filings
MutualOne Charitable Foundation is led by Kristin Carvalho, President & CEO on the 2025 filing; none of the 5 officers listed in 2025 report compensation.
Officers on the 2025 filing
Kristin Carvalho
President & CEO
New on the 2025 filing
0.1 hrs/week
No compensation reported
Mark R Haranas
Trustee -
Trustee → Trustee -, 2025
On filings since 2020
0.1 hrs/week
No compensation reported
Paul V Galvani
Trustee
On filings since 2020
0.1 hrs/week
No compensation reported
Robert Raider
Trustee
On filings since 2020
0.1 hrs/week
No compensation reported
Brian Ledwith
Trustee
On filings since 2022
0.1 hrs/week
No compensation reported
Former officers (5)
- Former: Mutual One Bank -Framingham Coop Ba (2020–2023) — Foundation Creator
- Former: Brien Maginnis (2020–2022) — Controller
- Former: Robert P Lamprey (2020–2022) — Trustee
- Former: Steven M Sousa (2020–2022) — Trustee
- Former: Susan E Acton (2020–2022) — Trustee
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 MutualOne Charitable Foundation
How much does MutualOne Charitable Foundation give each year?
MutualOne Charitable Foundation gave $439K across 54 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $398K across 56 grants.
What is MutualOne Charitable Foundation's typical grant size?
MutualOne Charitable Foundation's median grant in 2025 was $10,000, and its average grant was $8,128, across 54 grants on its 2025 IRS Form 990-PF. Organizations receiving their first grant from MutualOne Charitable Foundation that year got $8K on average.
Where does MutualOne Charitable Foundation give grants?
MutualOne Charitable 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 Framingham, MA (24 grants), Natick, MA (10 grants), Marlborough, MA (2 grants) and Lowell, MA (2 grants).
Does MutualOne Charitable Foundation give general operating support?
Not in 2025: none of the 54 grants with a stated purpose on MutualOne Charitable Foundation's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Community Development" (40 grants) and "Education" (13 grants).
Who are MutualOne Charitable Foundation's largest grantees?
MutualOne Charitable Foundation's largest 2025 grantees include Natick Service Council Inc ($27,500 across 3 grants), A Place to Turn ($22,500 across 2 grants) and University of Massachusetts Lowell ($17,000 across 2 grants), according to its 2025 IRS Form 990-PF. Together they received 15% of its itemized 2025 grant dollars.
How large is MutualOne Charitable Foundation?
MutualOne Charitable Foundation reported $9.0M in total assets on its 2025 IRS Form 990-PF. It paid out $456K in qualifying distributions that year, against a required minimum of $447K (roughly 5% of its investment assets).
What does MutualOne Charitable Foundation fund?
The foundation’s stated purpose is to promote charitable, educational, and civic purposes within MutualOne Bank’s market area. Its areas of interest are workforce development, health and human services, housing, education, community development, the environment, and the arts. See mission & focus areas ↑
How do I apply for a grant from MutualOne Charitable Foundation?
The foundation’s stated application materials include a cover letter signed by the organization’s Executive Director or Board President, a brief proposal, and a summary sheet. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is MutualOne Charitable Foundation's EIN?
MutualOne Charitable Foundation's EIN (Employer Identification Number) is 31-1595107. 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 September 2026.
Data update history
(2)
When this profile's IRS filing data changed on Grantable
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 15, 2026)
- IRS filings on file for fiscal years 2020–2024
Explore Open Grants
Browse active grant opportunities in MutualOne Charitable Foundation's focus areas in our free grants database
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Cite this profile
Grantable. (2026). MutualOne Charitable Foundation funder profile. GrantGraph. Retrieved October 14, 2026, from https://grantable.co/funders/mutualone-charitable-foundation-morg_67137f78222d4e7c8bfce77677b059cd
BibTeX
@misc{grantable_311595107_2026,
author = {{Grantable}},
title = {{MutualOne Charitable Foundation funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/mutualone-charitable-foundation-morg_67137f78222d4e7c8bfce77677b059cd},
note = {Accessed 2026-10-14. 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 MutualOne Charitable 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.
MutualOne Charitable Foundation down — hundreds of funders to go?