Bonnell Cove Foundation
- Assets
- $1.3m
- Revenue
- $91.6k
- Investments
- $1.2m
- Employees
- 0
- Location
- Camden, ME
- Founding
- 08/1990
- Data as of
- 12/2022
- EIN
- 13-3556721
Organization Overview
Bonnell Cove Foundation is located in Camden, ME. The organization was established in 1990. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Bonnell Cove 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 12/2022, Bonnell Cove Foundation generated $91.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (14.7%) each year. All expenses for the organization totaled $97.2k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Bonnell Cove Foundation has awarded 99 individual grants totaling $504,655. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION PROVIDES SUPPORT IN THE FORM OF GRANTS TO NOT-FOR-PROFIT ORGANIZATIONS TO BE USED FOR EDUCATIONAL SAFETY AT SEA OR ENVIRONMENTAL OUTREACH PURPOSES. IN 2022, THE FOUNDATION PROVIDED GRANTS TO 15 ORGANIZATIONS FOR THESE PURPOSES,TOTALING OVER 89,000.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joyce C Lhamon President | 4 | $0 | |
Paul K Rogers III Treasurer | 4 | $0 | |
W Frank Bohlen Secretary | 4 | $0 | |
W Bradley Avery Director | 1 | $0 | |
Peter Balasubramanian Director | 1 | $0 | |
William Foss Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $46,341 |
| Interest on Savings | $0 |
| Dividends & Interest | $24,475 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $20,745 |
| Capital Gain Net Income | $20,745 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $91,561 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $5 |
| Taxes | $759 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $3,138 |
| Other expenses | $3,172 |
| Total operating and administrative expenses | $7,949 |
| Contributions, gifts, grants paid | $89,269 |
| Total expenses and disbursements | $97,218 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $82,070 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,319,698 |
| 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, Bonnell Cove Foundation has awarded $89,269 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
BELLINGHAM BAY COMMUNITY BOATING CE PURPOSE: ENVIRONMENTAL & SAFETY AT SEA | $5,000 |
BRIGS YOUTH SAIL TRAINING PURPOSE: SAFETY AT SEA | $3,000 |
CAPE COD MARITIME MUSEUM PURPOSE: SAFETY AT SEA | $5,000 |
FRIENDS OF CASCO BAY PURPOSE: ENVIRONMENTAL | $7,500 |
GULF OF MAINE RESEARCH INSTITUTE PURPOSE: SAFETY AT SEA | $4,000 |
LOGGERHEAD MARINE CENTER PURPOSE: ENVIRONMENTAL | $10,000 |