Walpole Foundation
- Assets
- $9.9m
- Revenue
- $599.9k
- Investments
- $4.3m
- Employees
- 0
- Location
- Walpole, NH
- Founding
- 04/2005
- Data as of
- 12/2020
- EIN
- 61-1471434
Organization Overview
Walpole Foundation is located in Walpole, NH. The organization was established in 2005. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Walpole 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 12/2020, Walpole Foundation generated $599.9k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 16.7% each year . All expenses for the organization totaled $609.9k during the year ending 12/2020. While expenses have increased by 20.4% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2020
Describe the Organization's Program Activity:
Part 3 - Line 4a
PURCHASE, REHABILITATION, OPERATION AND MANAGEMENT OF HISTORICAL BUILDINGS IN WALPOLE, NH
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Raynie Laware Foundation Manager | 40 | $47,000 | |
James Suozzi Director | 1 | $0 | |
Mark Houghton Vice President/treasurer | 1 | $0 | |
Annette Grenier Director | 1 | $0 | |
Peggy Pschirrer President | 1 | $0 | |
Charles Shaw Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $51,739 |
| Interest on Savings | $43,727 |
| Dividends & Interest | $62,409 |
| Net Rental Income | $77,395 |
| Net Gain on Sale of Assets | -$66,143 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $599,898 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $47,000 |
| Other employee salaries and wages | $44,513 |
| Pension plans, employee benefits | $10,950 |
| Interest | $0 |
| Taxes | $130,744 |
| Depreciation | $153,898 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $157,432 |
| Total operating and administrative expenses | $608,120 |
| Contributions, gifts, grants paid | $1,787 |
| Total expenses and disbursements | $609,907 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $28,977 |
| Savings and temporary cash investments | $412,179 |
| 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 | $1,019,090 |
| Net Land, buildings, and equipment | $5,134,018 |
| Other assets | $47 |
| Total assets | $9,906,634 |
| 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 | $20,100 |
| Other liabilities | $25,164 |
| Total liabilities | $45,264 |
Grants Awarded
Over the last fiscal year, Walpole Foundation has awarded $40,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
BRIDGE MEMORIAL LIBRARY PURPOSE: THE LIBRARY RENOVATION PROJECT | $30,000 |
TOWN OF WALPOLE PURPOSE: THE WALKER ROAD CONSERVATION PROJECT | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Eastern Maine Development Corporation Bangor, ME | $11,518,769 | $64,676,194 |
Northern Maine Development Commission Inc Caribou, ME | $20,810,299 | $32,269,814 |
Greater Boston Convention And Tourist Bureau Inc Boston, MA | $3,175,283 | $8,778,402 |
Granite State Economic Development Corp Portsmouth, NH | $20,832,618 | $9,324,758 |
Greater New Bedford Workforce Investment Board Inc New Bedford, MA | $1,194,439 | $3,887,016 |
The Resource Inc For Community And Economic Development North Eastham, MA | $2,064,773 | $3,152,233 |
New England Council Inc Boston, MA | $13,389,867 | $3,995,081 |
Main South Community Development Corporation Worcester, MA | $15,010,122 | $3,407,145 |
Maine Development Foundation Hallowell, ME | $970,799 | $2,681,444 |
Center For Economic Democracy Boston, MA | $11,558,653 | $3,979,312 |
Maine Tourism Association Hallowell, ME | $2,552,212 | $2,806,092 |
Central Square Business Improvement District Inc Cambridge, MA | $657,722 | $2,519,554 |