Narragansett Number One Foundation
- Assets
- $5.4m
- Revenue
- $443.0k
- Investments
- $5.2m
- Employees
- 0
- Location
- Bar Mills, ME
- Founding
- 12/2001
- Data as of
- 06/2024
- EIN
- 01-0546133
Organization Overview
Narragansett Number One Foundation is located in Bar Mills, ME. The organization was established in 2001. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Narragansett Number One Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2024, Narragansett Number One Foundation generated $443.0k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 16.3% each year . All expenses for the organization totaled $463.5k during the year ending 06/2024. While expenses have increased by 2.3% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Narragansett Number One Foundation has awarded 522 individual grants totaling $4,025,921. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patricia M Wales President, D | 0 | $0 | |
Angela H Desruisseaux Sec./treas./ | 0 | $0 | |
David Desruisseaux Director | 0 | $0 | |
Pamela H Haines Director | 0 | $0 | |
Thomas Charles Holding Director | 0 | $0 | |
Eric P Wales Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $210,571 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $232,395 |
| Capital Gain Net Income | $232,395 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $81 |
| Total Revenue | $443,047 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $5,267 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,493 |
| Total operating and administrative expenses | $51,735 |
| Contributions, gifts, grants paid | $411,755 |
| Total expenses and disbursements | $463,490 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $267,757 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $37,011 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $5,422,988 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Narragansett Number One Foundation has awarded $411,755 in support to 46 organizations.
| Grant Recipient | Amount |
|---|---|
AMBUCS - MAINE TRYKERS PURPOSE: PROVIDE FUNDS TO PURCHASE ADAPTED TR | $8,850 |
BRICK STORE MUSEUM PURPOSE: PROVIDE GENERAL OPERATING EXPENSES | $2,500 |
ANIMAL WELFARE SOCIETY PURPOSE: FUND THE OFFERING OF HUMANE EDUCATIO | $5,000 |
ANIMAL REFUGE LEAGUE PURPOSE: FUND COMMUNITY PET FOOD PANTRY | $10,000 |
COTTONTAIL COTTAGE FARM SANCTUARY PURPOSE: FUNDS TO HELP CARE FOR RESCUE ANIMAL | $15,000 |
ELDER ABUSE INSTITUTE OF MAINE PURPOSE: PROVIDE FUNDS FOR ELDER ABUSE AND AW | $10,000 |