Christmas Cove Improvement Assoc
- Assets
- $2.2m
- Revenue
- $468.5k
- Investments
- $0.0
- Employees
- 33
- Location
- Damariscotta, ME
- Founding
- 08/1982
- Data as of
- 12/2021
- EIN
- 01-0264870
Organization Overview
Christmas Cove Improvement Assoc is located in Damariscotta, ME. The organization was established in 1982. According to its NTEE Classification (S21) the organization is classified as: Community Coalitions, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Christmas Cove Improvement Assoc employed 33 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Christmas Cove Improvement Assoc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2021, Christmas Cove Improvement Assoc generated $468.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $386.6k during the year ending 12/2021. While expenses have increased by 7.4% per year over the past 7 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE SOCIAL AND RECREATION WELFARE OF MEMBERS THE PURPOSE OF THE ASSOCIATION IS TO PROMOTE THE SOCIAL AND RECREATIONAL WELFARE OF ITS MEMBERS. IT SHALL OWN AND MAINTAIN IN CHRISTMAS COVE AN ASSEMBLY HALL
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ASSOCIATION ORGANIZES SOCIAL ACTIVITIES FOR ITS MEMBERS SUCH AS CLAMBAKES, FAMILY PICNICS, LECTURES, SAILBOAT RACES, TENNIS TOURNAMENTS AND THE LIKE. THE MAIN ACTIVITY OF THE ASSOCIATION, HOWEVER, IS TO PROVIDE INSTRUCTION FOR MEMBERS' CHILDREN IN SAILING, TENNIS AND SWIMMING. DURING 2021, THERE WERE ALMOST 800 SIGN UPS FOR 1-2 HOUR CLASSES AND ONLY SLIGHTLY LESS IS EXPECTED FOR THE SUMMER OF 2022. FOR 2021 CURRENTLY TOTAL MORE THAN 600 ACROSS 4 ACTIVITIES OF SAILING, TENNIS, SWIMMING, AND ARTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Martha Merrill Director & President | OfficerTrustee | 10 | $0 |
Matt Lorentzen Director & Admin VP | OfficerTrustee | 1 | $0 |
Holly Nelson Director & Secretary | OfficerTrustee | 1 | $0 |
David Brown Director & Treasurer | OfficerTrustee | 10 | $0 |
Turner Bredrup Director | Trustee | 1 | $0 |
Scott Johnson Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $118,250 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $118,250 |
| Total Program Service Revenue | $289,775 |
| Investment income | $42,196 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,000 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$990 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $468,534 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $400 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $139,473 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,814 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,936 |
| Fees for services: Accounting | $8,720 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,269 |
| Information technology | $13,585 |
| Royalties | $0 |
| Occupancy | $84,633 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $37,897 |
| All other expenses | $27,833 |
| Total functional expenses | $386,564 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $158,329 |
| Savings and temporary cash investments | $37,471 |
| Pledges and grants receivable | $0 |
| 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 | $4,978 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,452,627 |
| Investments—publicly traded securities | $584,033 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,237,438 |
| Accounts payable and accrued expenses | $3,004 |
| 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 | $0 |
| Total liabilities | $3,004 |
| Net assets without donor restrictions | $2,234,434 |
| Net assets with donor restrictions | $0 |
| 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 | $2,237,438 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Maine Bankers Association Westbrook, ME | $2,137,132 | $2,596,139 |
Christmas Cove Improvement Assoc Damariscotta, ME | $2,237,438 | $468,534 |
Washington County Council Of Govern Ments Calais, ME | $133,016 | $260,699 |
Hales Location Owners Association Inc Hales Location, NH | $1,064,642 | $524,446 |
National Rural Letter Carriers Association Farmington, ME | $317,899 | $0 |
National Rural Letter Carriers N H State Farmington, NH | $252,923 | $97,815 |
Human Action Foundation Lee, NH | $488,319 | $28,173 |
Gateway Milbridge Milbridge, ME | $914,127 | $249,994 |
Mascoma Valley Preservation Grafton, NH | $556,400 | $314,310 |
Third Place Inc Portland, ME | $71,983 | $0 |
We Heart West W Manchester, NH | $6,953 | $0 |
Casino Free New Hampshire Inc Keene, NH | $234 | $0 |