Siasconset Beach Preservation Fund Inc
- Assets
- $4.7m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 2
- Location
- Nantucket, MA
- Founding
- 01/1994
- Data as of
- 12/2021
- EIN
- 04-3212914
Organization Overview
Siasconset Beach Preservation Fund Inc is located in Nantucket, MA. The organization was established in 1994. According to its NTEE Classification (C32) the organization is classified as: Water Resources, Wetlands Conservation & Management, under the broad grouping of Environment and related organizations. As of 12/2021, Siasconset Beach Preservation Fund Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Siasconset Beach Preservation Fund Inc 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 12/2021, Siasconset Beach Preservation Fund Inc generated $2.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.8% each year . All expenses for the organization totaled $1.7m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PRESERVE AND MAINTAIN SIASCONSET BEACH IN NANTUCKET, MA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VARIOUS EFFORTS TO REDUCE BEACH EROSION BY PROTECTING AND PRESERVING THE SHORELINE OF SIASCONSET BEACH IN NANTUCKET, MASSACHUSETTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kermit Roosevelt Clerk | OfficerTrustee | 1 | $0 |
Joshua Posner President | OfficerTrustee | 18 | $0 |
F Helmut Weymar Vice President/treasurer | OfficerTrustee | 7 | $0 |
Douglas Hendrickson Vice President | OfficerTrustee | 0.1 | $0 |
Bruce Ritter Trustee | Trustee | 0.1 | $0 |
Albert E Lussier Jr Trustee | Trustee | 0.1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cottage And Castle Property Management Property Management | 12/30/21 | $231,615 |
Ah Construction Llc Sand Transportation | 12/30/21 | $417,798 |
Rubin And Rudman Llp Legal Services | 12/30/21 | $145,984 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,648,844 |
| Noncash contributions included in lines 1a–1f | $4,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,648,844 |
| Total Program Service Revenue | $0 |
| Investment income | $40 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,648,884 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $36,310 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $386,477 |
| Fees for services: Accounting | $41,430 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $14,096 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $277,581 |
| Insurance | $16,579 |
| All other expenses | $0 |
| Total functional expenses | $1,660,279 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $805,871 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,259 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $9,249 |
| Net Land, buildings, and equipment | $3,679,165 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $150,000 |
| Total assets | $4,655,544 |
| Accounts payable and accrued expenses | $284,851 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $549,250 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $4,993,064 |
| Other liabilities | $0 |
| Total liabilities | $5,827,165 |
| Net assets without donor restrictions | -$1,171,621 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,655,544 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Siasconset Beach Preservation Fund Inc has recieved totaling $115,000.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: ENVIRONMENTAL AND ANIMALS | $60,000 |
American Endowment Foundation Hudson, OH PURPOSE: GENERAL OPERATING SUPPORT | $30,000 |
Julie And Brian Simmons Foundation Palm Beacch, FL PURPOSE: ANNUAL GIFT - GENERAL FUND | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Catskill Watershed Corporation Arkville, NY | $166,890,312 | $18,353,633 |
Scenic Hudson Inc poughkeepsie, NY | $38,136,273 | $14,869,807 |
Safe Water Network New York, NY | $11,807,774 | $8,506,828 |
Buffalo Niagara Waterkeeper Inc Buffalo, NY | $12,074,005 | $5,933,047 |
Riverkeeper Inc Ossining, NY | $3,555,297 | $4,414,432 |
Buzzards Bay Coalition Inc New Bedford, MA | $35,427,271 | $10,789,245 |
Hudson River Foundation For Science And Environmental Research Inc New York, NY | $44,144,233 | $1,711,986 |
Renew Oceans Inc Brooklyn, NY | $0 | $303,111 |
Connecticut River Watershed Council Inc Greenfield, MA | $5,295,847 | $3,497,811 |
Save The Bay Inc Providence, RI | $12,260,804 | $3,337,180 |
Charles River Transportation Management Association Cambridge, MA | $5,311,502 | $3,433,111 |
Resilient Cities Catalyst Inc Brooklyn, NY | $643,141 | $1,468,241 |