Falmouth Road Race Inc
- Assets
- $1.2m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 3
- Location
- Falmouth, MA
- Founding
- 12/1979
- Data as of
- 03/2021
- EIN
- 04-2676136
Organization Overview
Falmouth Road Race Inc is located in Falmouth, MA. The organization was established in 1979. As of 03/2021, Falmouth Road Race Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Falmouth Road Race 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 03/2021, Falmouth Road Race Inc generated $1.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.9%) each year. All expenses for the organization totaled $1.5m during the year ending 03/2021. As we would expect to see with falling revenues, expenses have declined by (3.0%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Falmouth Road Race Inc has awarded 97 individual grants totaling $2,326,928. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION IS COMMITTED TO POSITIVELY IMPACTING INDIVIDUALS AND BUSINESSES IN THE TOWN OF FALMOUTH THROUGH CONSISTENT INVOLVEMENT WITH THE COMMUNITY AND ANNUAL PHILANTHROPIC GIVING. THE ORGANIZATION PROMOTES HEALTH AND FITNESS THROUGH COMMUNITY PROGRAMS AND ITS ANNUAL ROAD RACE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROMOTES AND RUNS THE ANNUAL FALMOUTH ROAD RACE, A WORLD CLASS EVENT. PROCEEDS ARE DONATED TO VARIOUS COMMUNITY AND SCHOOL ORGANIZATIONS IN AN ATTEMPT TO ADVANCE THE WELFARE OF ALL SPORTS IN GENERAL AND TRACK AND RUNNING IN PARTICULAR. NONSPORTS ORGANIZATIONS ALSO RECEIVE DONATIONS PROVIDING THEIR ORGANIZATION'S FUNCTION IS PROMOTE GOODWILL AND PROVIDES A SERVICE TO THE COMMUNITY OF FALMOUTH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Edwards Executive Di | Officer | 32 | $22,308 |
Robert Antonucci Vice Preside | OfficerTrustee | $0 | |
Jeff Cutter Treasurer | OfficerTrustee | $0 | |
Scott Ghelfi President | OfficerTrustee | $0 | |
Geoff Nickerson Clerk | OfficerTrustee | $0 | |
Carl F Cavossa Vice Preside | OfficerTrustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $16,635 |
| Investment income | $1,476 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $50,896 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,068,140 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $101,125 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $22,308 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $20,384 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,239 |
| Fees for services: Management | $262,000 |
| Fees for services: Legal | $2,550 |
| Fees for services: Accounting | $20,578 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $32,327 |
| Office expenses | $112,637 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $18,000 |
| Travel | $846 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $75 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,348 |
| Insurance | $5,576 |
| All other expenses | $0 |
| Total functional expenses | $1,522,941 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,025,761 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,745 |
| 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 | $10,875 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $150,000 |
| Total assets | $1,219,938 |
| Accounts payable and accrued expenses | $1,649 |
| Grants payable | $0 |
| Deferred revenue | $700,800 |
| 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 | $702,449 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $517,489 |
Grants Awarded
Over the last fiscal year, Falmouth Road Race Inc has awarded $596,087 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
FALMOUTH HIGH SCHOOLTRACK PROJECT | | | $427,158 |
FALMOUTH PUBLIC SCHOOLS PURPOSE: COVID MASKS | $49,710 |
NORTH FALMOUTH PTO | | | $43,560 |
WALDORF SCHOOL | | | $18,000 |
Falmouth, MA | | $13,570 |
ROTARY CLUB OF FALMOUTH | | | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Falmouth Road Race Inc has recieved totaling $38,000.
| Awarding Organization | Amount |
|---|---|
The Jaket Foundation Boston, MA PURPOSE: TOMMY COCHARY HIGH SCHOOL MILE | $29,000 |
The Jaket Foundation Boston, MA PURPOSE: TO SUPPORT ATHLETE APPEARANCES | $9,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Falmouth Road Race Inc Falmouth, MA | $1,219,938 | $1,068,140 |
South Shore Seahawks Inc Norwell, MA | $113,194 | $537,526 |
Hudson-Mohawk Road Runners Club Albany, NY | $537,950 | $306,805 |
Girls Gymnastic-Athletic Club Of Owego New York Inc Owego, NY | $340,113 | $262,339 |
Fairfield Half Marathon Road Race Inc Branford, CT | $39,838 | $0 |
Finger Lakes Region Sports Car Club Of America Inc Webster, NY | $252,770 | $0 |
Cape Cod Curling Club Inc Falmouth, MA | $1,166,231 | $103,207 |
Us Lacrosse Inc Levittown, NY | $153,762 | $0 |
Alden Rod & Gun Club Alden, NY | $121,336 | $0 |
Square & Compass Club Inc Barre, VT | $11,102 | $0 |
Quinsigamond Rowing Association Inc Worcester, MA | $9,564 | $12,767 |
United States Corporate Track Association West Simsbury, CT | $24,303 | $0 |