Shores Foundation
- Assets
- $17.0m
- Revenue
- $535.4k
- Investments
- $16.9m
- Employees
- 0
- Location
- New York, NY
- Founding
- 03/2017
- Data as of
- 12/2022
- EIN
- 35-7159068
Organization Overview
Shores Foundation is located in New York, NY. The organization was established in 2017. According to its NTEE Classification (T23) the organization is classified as: Private Operating 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. Shores 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, Shores Foundation generated $535.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (14.2%) each year. All expenses for the organization totaled $840.1k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Shores Foundation has awarded 18 individual grants totaling $1,772,000. 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 |
|---|---|---|---|
Michael L Ryan Trustee | 2 | $0 | |
Elizabeth Jamie Alter Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $378,049 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $144,491 |
| Capital Gain Net Income | $115,040 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $12,834 |
| Total Revenue | $535,374 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $33,285 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $73,805 |
| Total operating and administrative expenses | $118,090 |
| Contributions, gifts, grants paid | $722,000 |
| Total expenses and disbursements | $840,090 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $45,517 |
| Savings and temporary cash investments | $0 |
| 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 | $16,890,382 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $15,066 |
| Total assets | $16,950,965 |
| 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 | $750 |
| Total liabilities | $750 |
Grants Awarded
Over the last fiscal year, Shores Foundation has awarded $722,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
LACMA(LOS ANGELES COUNTY MUSEUM OF ART PURPOSE: ACHIEVE CHARITABLE PURPOSE | $200,000 |
NEW VISIONS PURPOSE: ACHIEVE CHARITABLE PURPOSE | $25,000 |
CALARTS PURPOSE: CHARITABLE | $75,000 |
THE CITY PURPOSE: ACHIEVE CHARITABLE PURPOSE | $137,000 |
RAND CORPORATION PURPOSE: ACHIEVE CHARITABLE PURPOSE | $225,000 |
WESLEYAN UNIVERSITY PURPOSE: CHARITABLE | $60,000 |