Sakonnet Preservation Assoc Inc
- Assets
- $8.4m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 5
- Location
- Little Compton, RI
- Founding
- 10/1972
- Data as of
- 12/2023
- EIN
- 23-7225987
Organization Overview
Sakonnet Preservation Assoc Inc is located in Little Compton, RI. The organization was established in 1972. According to its NTEE Classification (A82) the organization is classified as: Historical Societies & Historic Preservation, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2023, Sakonnet Preservation Assoc Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sakonnet Preservation Assoc 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 12/2023, Sakonnet Preservation Assoc Inc generated $2.6m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $2.5m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE SAKONNET PRESERVATION ASSOCIATION, INC.,IS DEDICATED TO PRESERVING THE RURAL CHARACTER NATURAL RESOURCES OF LITTLE COMPTON, RHODE ISLAND, FOR THE LASTING BENEFIT OF THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LAND STEWARDSHIP - APPROXIMATELY 469 ACRES PRESERVED TO DATE
PROVIDE INFORMATION TO THE GENERAL PUBLIC ABOUT THE IMPORTANCE OF LAND CONSERVATION.
LAND PROTECTION - APPROXIMATELY 469 ACRES PRESERVED TO DATE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joy Elvin Executive Director | Officer | 40 | $76,581 |
Herb Case Director | Trustee | 0.5 | $0 |
Warren Jagger Director | Trustee | 0.5 | $0 |
Paul Bazzoni Director | Trustee | 1 | $0 |
Nan Haffenreffer Director | Trustee | 1 | $0 |
Michal Brownell Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $63,785 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,015 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,431,438 |
| Noncash contributions included in lines 1a–1f | $2,270,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,498,238 |
| Total Program Service Revenue | $1,000 |
| Investment income | $63,427 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $43,514 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,606,179 |
| 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. | $65,069 |
| Compensation of current officers, directors, key employees. | $13,014 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $41,847 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $9,151 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,310 |
| Fees for services: Accounting | $14,835 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $12,249 |
| Advertising and promotion | $0 |
| Office expenses | $13,569 |
| Information technology | $13,546 |
| Royalties | $0 |
| Occupancy | $14,417 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,039 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $899 |
| Insurance | $7,325 |
| All other expenses | $0 |
| Total functional expenses | $2,480,085 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $374,662 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $246,838 |
| Accounts receivable, net | $0 |
| 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 | $1,578 |
| Net Land, buildings, and equipment | $10,341 |
| Investments—publicly traded securities | $2,307,843 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,455,075 |
| Total assets | $8,396,337 |
| Accounts payable and accrued expenses | $17,738 |
| 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 | $0 |
| Other liabilities | $41,148 |
| Total liabilities | $58,886 |
| Net assets without donor restrictions | $7,646,900 |
| Net assets with donor restrictions | $690,551 |
| 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 | $8,396,337 |