Needham Bank Charitable is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in NEEDHAM, MA. IRS filing data is available from 2023 through 2024. As of 2024, the organization holds $31.6M in total assets. In 2024, it awarded 155 grants totaling $835K. Net investment income was $822.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$31.6M
+26.3% YoY
Annual Giving
$835K
Grant Count
155
Avg Grant Size
$5K
Under IRS private-foundation payout rules, Needham Bank Charitable reported a distributable amount of $1.5M for 2024 — the minimum it must pay out in qualifying distributions.
About Needham Bank Charitable
Based on IRS filings
Needham Bank Charitable is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in NEEDHAM, MA. IRS filing data is available from 2023 through 2024. As of 2024, the organization holds $31.6M in total assets. In 2024, it awarded 155 grants totaling $835K. Net investment income was $822.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 |
|---|---|---|
| Total Assets | $31,552,636 | $24,975,680 |
| Revenue | $822 | $19,082,290 |
| Expenses | $1,877,301 | — |
| Qualifying Distributions | $841,261 | — |
| Net Investment Income | $822 | — |
| Distributable Amount | $1,460,354 | $19,183 |
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
50 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Bellforge Arts Center ($20,000), Crossroads ($12,000), Massachusetts Affordable ($10,000).
| Recipient | Purpose | Amount |
|---|---|---|
| BIG BROTHERS BIG SISTERS OF EASTERN MASSACHUSETTS BOSTON, MA | EXEMPT PURPOSE | $7,500 |
| FRIENDS OF BOSTON'S HOMELESS BOSTON, MA | EXEMPT PURPOSE | $5,000 |
| BOSTON CENTER FOR THE ARTS INC BOSTON, MA | EXEMPT PURPOSE | $2,500 |
| BOYS & GIRLS CLUB OF METROWEST MARLBOROUGH, MA | EXEMPT PURPOSE | $3,000 |
| DEDHAM FOOD PANTRY (1283) DEDHAM, MA | EXEMPT PURPOSE | $1,000 |
| DEDHAM HISTORICAL SOCIETY DEDHAM, MA | EXEMPT PURPOSE | $1,500 |
| MASSACHUSETTS AFFORDABLE DORCHESTER CENTER, MA | EXEMPT PURPOSE | $10,000 |
| MCPE MEDFIELD, MA | EXEMPT PURPOSE | $5,000 |
| MEDFORD EDUCATIONAL FOUNDATION MEDFORD, WI | EXEMPT PURPOSE | $5,000 |
| MONTROSE SCHOOL MEDFIELD, MA | EXEMPT PURPOSE | $3,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| JOSEPH P CAMPANELLI | PRESIDENT/DIRECTOR | 1 | — |
| SALVATORE RINALDI | TREASURER/DIRECTOR | 1 | — |
| KATHERINE CRAVEN | SECRETARY/DIRECTOR | 1 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Needham Bank Charitable?
Needham Bank Charitable is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in NEEDHAM, MA. It holds $31.6M in total assets as of 2024.
How large is Needham Bank Charitable?
As of 2024, Needham Bank Charitable holds $31.6M in total assets with $822 in annual revenue. It awarded 155 grants totaling $835K in 2024.
Where does Needham Bank Charitable operate?
Needham Bank Charitable has awarded grants in Delaware, Massachusetts, Maine, South Carolina, Texas, Wisconsin.
What size grants does Needham Bank Charitable award?
In 2024, Needham Bank Charitable awarded 155 grants totaling $835K — an average of about $5K per grant, based on its IRS Form 990 filings.
How much is Needham Bank Charitable required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Needham Bank Charitable reported a distributable amount of $1.5M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Needham Bank Charitable's EIN?
Needham Bank Charitable's EIN (Employer Identification Number) is 99-0455727. IRS Form 990 filing data is available on this page for 2023–2024.
Explore Open Grants
Browse active grant opportunities in Needham Bank Charitable's focus areas in our free grants database
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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