The Oliver Killam Private Foundation is a private foundation established in 2005 (incorporated in 2007) and based in Salem, Massachusetts. The foundation was created through the estate of Oliver Porter Killam Jr., a Marblehead resident who dedicated his accumulated wealth to support educational scholarships and community library services. The foundation operates with no employees and maintains significant assets to fund its grantmaking activities.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$15.1M
+3.6% YoY
Annual Giving
$211K
-26.8% YoY
Grant Count
28
-34.9% YoY
Avg Grant Size
$8K
+12.4% YoY
Mission & Focus Areas
The foundation's primary mission is to provide need-based scholarships to students pursuing college degrees, with a secondary commitment to supporting library services. Specifically:
- 80% of annual interest income funds need-based scholarships for Marblehead High School graduates
- 20% of annual interest income supports the Children's Room at Abbot Public Library
The foundation's grantmaking focuses on education, scholarships, and student financial aid services.
Grantmaking
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Geographic Focus
Where this funder awards grants
The foundation primarily serves Marblehead, Massachusetts, with a specific focus on Marblehead High School graduates. The foundation maintains an address in Salem, Massachusetts.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of December 2024:
- Total assets: $15,067,590
- Total revenues: $1,006,052
- Total expenses: $468,022
- Investment income and dividends: $440,884
- Net gain from sale of non-inventory assets: $565,168
As of December 2023:
- Total assets: $14,500,000
- Total revenues: $1,136,758
- Total expenses: $519,000
The foundation generates income primarily through investment returns rather than contributions, with no reported grants or contributions received in recent years.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $15,067,590 | $14,540,340 | $13,921,344 |
| Revenue | $1,006,052 | $1,136,758 | $1,244,692 |
| Expenses | $468,022 | $519,352 | $796,406 |
| Qualifying Distributions | $219,976 | $305,152 | $578,737 |
| Net Investment Income | $758,006 | $922,358 | $1,028,023 |
| Distributable Amount | $880,690 | $788,522 | $824,941 |
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
221 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| FRANK MUZIO | TRUSTEE | 5 | $34,500 |
| SCOTT A MACALLISTER | TRUSTEE | 5 | $34,500 |
| CHERYL SALTZMAN | TRUSTEE | 5 | $34,500 |
| SCOTT JAMES MACALLISTER | TRUSTEE | 5 | $34,500 |
| AMY SALTZMAN | TRUSTEE | 5 | $34,500 |
Recent News & Activity
Recent developments and announcements
The foundation has continued active grantmaking, with scholarship awards surpassing the $5 million milestone. The foundation maintains an online presence with scholarship application information and details about Oliver Killam's life and legacy.
Killam scholarships awardedSubject Areas
Focus areas based on grantmaking activity
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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