Permanent Endowment Fund For Marthas Vineyard
- Assets
- $12.8m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 4
- Location
- West Tisbury, MA
- Founding
- 01/1983
- Data as of
- 12/2019
- EIN
- 04-2774790
Organization Overview
Permanent Endowment Fund For Marthas Vineyard is located in West Tisbury, MA. The organization was established in 1983. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2019, Permanent Endowment Fund For Marthas Vineyard employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Permanent Endowment Fund For Marthas Vineyard 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 12/2019, Permanent Endowment Fund For Marthas Vineyard generated $1.7m 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 (5.5%) each year. All expenses for the organization totaled $2.4m during the year ending 12/2019. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Permanent Endowment Fund For Marthas Vineyard has awarded 65 individual grants totaling $2,719,748. 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
THE PERMANENT ENDOWMENT FUND FOR MARTHA'S VINEYARD, THE ISLAND'S COMMUNITY FOUNDATION, PUTS CHARITABLE CONTRIBUTIONS TO WORK FOR THE PEOPLE OF MARTHA'S VINEYARD BY MAKIG GRANTS THAT ADDRESS COMMUNITY NEEDS, FUNDING SCHOLARSHIPS FOR ISLAND STUDENTS AND BUILDING AN ENDOWMENT TO PROVIDE THE RESOURCES TO ENHANCE AND PRESERVE THE QUALITY OF LIFE ON THE VINEYARD FOREVER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PUTTING CONTRIBUTIONS TO WORK FOR THE BENEFIT OF THE MARTHA'S VINEYARD COMMUNITY THROUGH GRANTS TO ISLAND NON-PROFIT ORGANIZATIONS AND SCHOLARSHIPS TO MARTHA'S VINEYARD STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Emily B Bramhall Executive Di | OfficerTrustee | 35 | $109,200 |
Kerry H Alley Vice-Chair | OfficerTrustee | 5 | $0 |
Carlene J Gatting Director | OfficerTrustee | 5 | $0 |
Sandra Grymes Director | OfficerTrustee | 5 | $0 |
Paul Karasik Director | OfficerTrustee | 5 | $0 |
Adriana Ignacio Director | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $933,098 |
| Noncash contributions included in lines 1a–1f | $233,712 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $933,098 |
| Total Program Service Revenue | $4,156 |
| Investment income | $339,503 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $4,200 |
| Net Gain/Loss on Asset Sales | $437,490 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,719,447 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,500,594 |
| Grants and other assistance to domestic individuals. | $348,250 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $168,692 |
| Compensation of current officers, directors, key employees. | $109,620 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $47,775 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,413 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $22,742 |
| Fees for services: Accounting | $12,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,699 |
| Advertising and promotion | $600 |
| Office expenses | $10,504 |
| Information technology | $2,892 |
| Royalties | $0 |
| Occupancy | $21,838 |
| 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 | $2,565 |
| Insurance | $2,429 |
| All other expenses | $0 |
| Total functional expenses | $2,434,273 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $134,320 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $1,035 |
| Net Land, buildings, and equipment | $16,469 |
| Investments—publicly traded securities | $12,554,193 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $136,198 |
| Total assets | $12,842,215 |
| Accounts payable and accrued expenses | $22,533 |
| 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 | $133,448 |
| Total liabilities | $155,981 |
| Net assets without donor restrictions | $5,412,442 |
| Net assets with donor restrictions | $7,273,792 |
| 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 | $12,842,215 |
Grants Awarded
Over the last fiscal year, Permanent Endowment Fund For Marthas Vineyard has awarded $1,500,594 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
MARTHA'S VINEYARD BANK CHARITABLE F PURPOSE: GENERAL | $1,242,879 |
OTHER GRANTS 5000 OR LESS PURPOSE: GENERAL SUPPORT | $103,064 |
Somerville, MA PURPOSE: PROGRAM SUPPORT | $30,000 |
Vineyard Haven, MA PURPOSE: CAPACITY BUILDING | $25,000 |
Edgartown, MA PURPOSE: DOCUMENTING DIVERSIT | $16,662 |
Chilmark, MA PURPOSE: EDUCATION PROGRAMS | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Permanent Endowment Fund For Marthas Vineyard has recieved totaling $88,639.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $67,338 |
Mv Vision Fellowship Fund Armonk, NY PURPOSE: TICK LAB & TICK BORNE ILLNESS EDUCATION & REDUCTION PROGRAM | $15,601 |
Ayco Charitable Foundation Cohoes, NY PURPOSE: COMMUNITY & HUMAN SERVICES | $5,200 |
Susan S & Kenneth Wallach Foundation Purchase, NY PURPOSE: GENERAL PURPOSE | $500 |
Endowment Analysis
| Beg. Balance | $11,640,378 |
| Earnings | $2,079,275 |
| Net Contributions | $339,070 |
| Other Expense | $205,496 |
| Grants | $1,794,929 |
| Ending Balance | $12,058,298 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Foundation Of Western Massachusetts Springfield, MA | $263,677,089 | $50,890,910 |
Essex County Community Foundation Incorporated Danvers, MA | $116,029,343 | $28,414,247 |
Community Foundations Of The Hudson Valley Poughkeepsie, NY | $96,104,226 | $20,607,422 |
The Berkshire Taconic Community Foundation Inc Sheffield, MA | $235,546,714 | $26,961,716 |
Greater Worcester Community Foundation Inc Worcester, MA | $200,476,252 | $22,847,423 |
Community Foundation Of Herkimer And Oneida Counties Inc Utica, NY | $207,402,752 | $30,922,448 |
Community Foundation Of Eastern Connecticut New London, CT | $123,416,332 | $10,480,728 |
Southcoast Community Foundation Inc New Bedford, MA | $53,147,669 | $13,725,688 |
The Community Foundation For The Greater Capital Region Inc Albany, NY | $120,227,075 | $24,885,752 |
Connecticut Community Foundation Inc Waterbury, CT | $154,014,275 | $11,174,882 |
Adirondack Foundation Lake Placid, NY | $81,334,603 | $18,009,853 |
New York City Partnership Foundation Inc New York, NY | $45,208,462 | $5,342,641 |