Perfect Seas Foundation Inc
- Assets
- $117.4m
- Revenue
- $7.0m
- Investments
- $111.6m
- Employees
- 0
- Location
- Boston, MA
- Founding
- 01/2020
- Data as of
- 12/2022
- EIN
- 84-3835636
Organization Overview
Perfect Seas Foundation Inc is located in Boston, MA. The organization was established in 2020. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Perfect Seas Foundation 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 12/2022, Perfect Seas Foundation Inc generated $7.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (49.6%) each year. All expenses for the organization totaled $9.2m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $4,224,212 |
| Interest on Savings | $16,104 |
| Dividends & Interest | $3,370,074 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$619,100 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $6,991,290 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $130,019 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $175,922 |
| Contributions, gifts, grants paid | $9,000,000 |
| Total expenses and disbursements | $9,175,922 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,752,945 |
| 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 | $111,599,344 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $117,352,289 |
| 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, Perfect Seas Foundation Inc has awarded $9,000,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SCHWAB CHARITABLE GIFT FUND PURPOSE: TO CONTINUE CHARITABLE PURPOSE OF THE FOUNDATION | $4,500,000 |
FIDELITY INVESTMENT CHARITABLE GIFT FUND PURPOSE: TO CONTINUE CHARITABLE PURPOSE OF THE FOUNDATION | $4,500,000 |