Siasconset Beach Preservation Fund Inc
- Assets
- $4.1m
- Revenue
- $645.7k
- Investments
- $0.0
- Employees
- 3
- Location
- Nantucket, MA
- Founding
- 01/1994
- Data as of
- 12/2022
- EIN
- 04-3212914
Organization Overview
Siasconset Beach Preservation Fund Inc is located in Nantucket, MA. The organization was established in 1994. According to its NTEE Classification (C32) the organization is classified as: Water Resources, Wetlands Conservation & Management, under the broad grouping of Environment and related organizations. As of 12/2022, Siasconset Beach Preservation Fund Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Siasconset Beach Preservation Fund 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, Siasconset Beach Preservation Fund Inc generated $645.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.4%) each year. All expenses for the organization totaled $2.7m during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PRESERVE AND MAINTAIN SIASCONSET BEACH IN NANTUCKET, MA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VARIOUS EFFORTS TO REDUCE BEACH EROSION BY PROTECTING AND PRESERVING THE SHORELINE OF SIASCONSET BEACH IN NANTUCKET, MASSACHUSETTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joshua Posner President | OfficerTrustee | 18 | $0 |
F Helmut Weymar Vice President/treasurer | OfficerTrustee | 7 | $0 |
Douglas Hendrickson Vice President | OfficerTrustee | 0.1 | $0 |
Kermit Roosevelt Clerk | OfficerTrustee | 1 | $0 |
Dorothy Bailey Trustee | Trustee | 0.1 | $0 |
Albert E Lussier Jr Trustee | Trustee | 0.1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ah Construction Llc Sand Transportation | 12/30/22 | $566,865 |
Goulston And Storrs Legal Services | 12/30/22 | $406,936 |
Cottage And Castle Property Management Property Management | 12/30/22 | $190,198 |
41 North Offshore Llc Sand Transportation | 12/30/22 | $120,234 |
Epsilon Associates Project Monitoring | 12/30/22 | $111,038 |
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 | $645,626 |
| Noncash contributions included in lines 1a–1f | $51,222 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $645,626 |
| Total Program Service Revenue | $0 |
| Investment income | $36 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $645,662 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $42,287 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $764,175 |
| Fees for services: Accounting | $54,836 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $15,451 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $276,284 |
| Insurance | $20,627 |
| All other expenses | $0 |
| Total functional expenses | $2,699,979 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $189,080 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $18,541 |
| 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 | $14,546 |
| Net Land, buildings, and equipment | $3,402,881 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $500,000 |
| Total assets | $4,125,048 |
| Accounts payable and accrued expenses | $808,672 |
| 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 | $549,250 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $5,993,064 |
| Other liabilities | $0 |
| Total liabilities | $7,350,986 |
| Net assets without donor restrictions | -$3,225,938 |
| 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 | $4,125,048 |