Beacon Project
- Assets
- $2.6m
- Revenue
- $475.4k
- Investments
- $0.0
- Employees
- 26
- Location
- Islesboro, ME
- Founding
- 06/2003
- Data as of
- 09/2020
- EIN
- 06-1694292
Organization Overview
Beacon Project is located in Islesboro, ME. The organization was established in 2003. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 09/2022, Beacon Project employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Beacon Project 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 09/2020, Beacon Project generated $475.4k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.8%) each year. All expenses for the organization totaled $670.3k during the year ending 09/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO MAKE IT POSSIBLE FOR OUR ELDERS TO REMAIN HERE ON ISLESBORO WITH DIGNITY AND COMFORT AS PART OF OUR ISLAND COMMUNITY. THE BEACON PROJECT OWNS AND OPERATES BOARDMAN COTTAGE, AN EIGHT-BEDROOM ASSISTED LIVING FACILITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOUSING AND ASSISTED LIVING CARE FOR EIGHT ELDERLY ISLESBORO RESIDENTS AT BOARDMAN COTTAGE. STAFF ALSO PROVIDES IN HOME CARE FOR ADDITIONAL ELDERLY ISLAND RESIDENTS, INCLUDING CHECKING ON PEOPLE LIVING ALONE TO SEE IF ASSISTANCE MIGHT BE REQUIRED. RIDES FOR MEDICAL APPOINTMENTS AND SHOPPING ARE ALSO PROVIDED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maura Michael Administrator | Officer | 40 | $71,590 |
Bonnie J Hughes President & Treasurer | OfficerTrustee | 15 | $0 |
Sharon Daley Vice President | OfficerTrustee | 5 | $0 |
Carol Pierson Secretary | OfficerTrustee | 10 | $0 |
Taz Stafford Board Member | Trustee | 1 | $0 |
John Kauer Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $169,135 |
| Investment income | $7,982 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $20,039 |
| Net Income from Fundraising Events | $525 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $5,963 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $475,370 |
| Statement of Expenses | |
|---|---|
| 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. | $67,553 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $330,943 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $30,465 |
| Payroll taxes | $32,395 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,110 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $22,335 |
| Fees for services: Other | $96 |
| Advertising and promotion | $141 |
| Office expenses | $6,147 |
| Information technology | $6,520 |
| Royalties | $0 |
| Occupancy | $28,471 |
| Travel | $7,961 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $114 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $36,866 |
| Insurance | $9,655 |
| All other expenses | $0 |
| Total functional expenses | $670,339 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $108,257 |
| Savings and temporary cash investments | $38,034 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $31,463 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,507 |
| Prepaid expenses and deferred charges | $5,000 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,558,462 |
| Total assets | $2,640,823 |
| Accounts payable and accrued expenses | $6,426 |
| 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 | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $145,175 |
| Other liabilities | $1,268 |
| Total liabilities | $152,869 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $2,487,954 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Beacon Project has recieved totaling $53,501.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $30,500 |
The@lois Chiles Foundation New York, NY PURPOSE: GENERAL FUND | $15,000 |
Elizabeth Foundation Los Angeles, CA PURPOSE: SOCIAL SERVICES | $5,000 |
Windhover Foundation Corning, NY PURPOSE: GENERAL SUPPORT | $1,500 |
Mary A Crocker Trust Dtd San Francisco, CA PURPOSE: SOCIAL SERVICE | $1,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $501 |
Endowment Analysis
| Beg. Balance | $2,012,086 |
| Earnings | -$208,095 |
| Admin Expense | $31,767 |
| Net Contributions | $35,600 |
| Other Expense | $123,700 |
| Ending Balance | $1,684,124 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kendal At Hanover I Hanover, NH | $202,821,277 | $31,489,711 |
Maine Life Care Retirement Community Inc Scarborough, ME | $140,484,243 | $23,531,278 |
Riverwoods Durham Durham, NH | $126,625,985 | $17,724,252 |
Metro Health Foundation Of New Hampshire Inc Meredith, NH | $23,007,411 | $13,396,555 |
Huntington At Nashua Nashua, NH | $69,976,352 | $16,206,015 |
Seventy-Five State Street Portland, ME | $13,728,048 | $7,315,171 |
Jha Assisted Living Inc Portland, ME | $14,866,848 | $7,038,080 |
Baldwin Senoir Living Londonderry, NH | $22,001,012 | $0 |
Franklin Home For The Aged Association Franklin, NH | $22,009,472 | $3,298,443 |
Bangor Housing Development Corporation Bangor, ME | $11,349,927 | $2,567,289 |
Phillips-Strickland House Corporation Bangor, ME | $8,449,494 | $2,117,015 |
Maple Grove Elderly Housing Corporation Portland, ME | $8,726,293 | $2,128,968 |