Southcoast Community Foundation Inc
- Assets
- $53.1m
- Revenue
- $13.7m
- Investments
- $0.0
- Employees
- 22
- Location
- New Bedford, MA
- Founding
- 10/1995
- Data as of
- 12/2021
- EIN
- 04-3280353
Organization Overview
Southcoast Community Foundation Inc is located in New Bedford, MA. The organization was established in 1995. 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 12/2021, Southcoast Community Foundation Inc employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southcoast Community 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 12/2021, Southcoast Community Foundation Inc generated $13.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.2% each year . All expenses for the organization totaled $10.3m during the year ending 12/2021. While expenses have increased by 11.2% 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.
Since 2015, Southcoast Community Foundation Inc has awarded 554 individual grants totaling $24,422,422. 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
TO MOBILIZE PHILANTHROPY BY MATCHING DONORS AND RESOURCES WITH COMMUNITY NEEDS FOR THE BENEFIT OF OUR REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANT MAKING FOR COMMUNITY NEEDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alison Smart Executive Dir Of Probable | Officer | 40 | $208,202 |
John Vasconcellos Former President | OfficerTrustee | 40 | $174,266 |
Sarah Rose Director Of Engagement | 40 | $113,000 | |
Charles F Holley Director Of Finance/admin | Officer | 40 | $92,515 |
Linda Bodenmann Chair | OfficerTrustee | 2 | $0 |
Carl J Cruz Clerk | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Postlight Llc Digital Consulting | 12/30/21 | $1,319,000 |
Moth Design Inc Creative Strategy Consulting | 12/30/21 | $298,750 |
Matter Unlimited Llc Strategic Consulting | 12/30/21 | $162,698 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $150,809 |
| Related organizations | $0 |
| Government grants | $2,493,899 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,407,069 |
| Noncash contributions included in lines 1a–1f | $484,218 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,051,777 |
| Total Program Service Revenue | $3,922 |
| Investment income | $886,936 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,787,062 |
| Net Income from Fundraising Events | -$4,009 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,725,688 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,437,028 |
| Grants and other assistance to domestic individuals. | $493,050 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $575,949 |
| Compensation of current officers, directors, key employees. | $253,712 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $834,665 |
| Pension plan accruals and contributions | $14,118 |
| Other employee benefits | $27,326 |
| Payroll taxes | $112,437 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $81,686 |
| Fees for services: Accounting | $23,075 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,021,395 |
| Advertising and promotion | $37,808 |
| Office expenses | $275,396 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $87,915 |
| Travel | $5,116 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,938 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,644 |
| Insurance | $7,917 |
| All other expenses | $0 |
| Total functional expenses | $10,326,815 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $246,542 |
| Savings and temporary cash investments | $4,760,241 |
| Pledges and grants receivable | $20,000 |
| 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 | $33,872 |
| Net Land, buildings, and equipment | $22,438 |
| Investments—publicly traded securities | $42,729,590 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $25,904 |
| Other assets | $5,309,082 |
| Total assets | $53,147,669 |
| Accounts payable and accrued expenses | $30,133 |
| Grants payable | $387,077 |
| 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 | $1,072,280 |
| Total liabilities | $1,489,490 |
| Net assets without donor restrictions | $41,696,530 |
| Net assets with donor restrictions | $9,961,649 |
| 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 | $53,147,669 |
Grants Awarded
Over the last fiscal year, Southcoast Community Foundation Inc has awarded $5,290,962 in support to 94 organizations.
| Grant Recipient | Amount |
|---|---|
New Bedford, MA PURPOSE: GENERAL OPERATING SUPPORT; CLINICAL INTERVENTIONS AND SERVICES; YOUTH SUMMER JOB | $342,350 |
Brockton, MA PURPOSE: BIPOC LEADERSHIP/COVID 19 RELIEF FUND | $267,025 |
Fall River, MA PURPOSE: FOOD/BASIC NEEDS RELIEF/FEED FALL RIVER/FOR REGRANTING IN EMERGENCY RESPONSE TO FALL RIVER ORGS. | $236,937 |
New Bedford, MA PURPOSE: GENERAL OPERATING SUPPORT | $236,825 |
Brockton, MA PURPOSE: OPERATING / FILLING THE GAPS: BASIC NEEDS ASSISTANCE PROGRAM | $179,625 |
North Dartmouth, MA PURPOSE: COLLEGE NOW, PROJECT STREAM / WORKER EDUCATION PROGRAM - FUND FOR EMERGENCY NEEDS / UMASS DARTMOUTH EMERGENCY RESPONSE FUND | $173,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Southcoast Community Foundation Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Manfredi Family Foundation Mattapoisett, MA PURPOSE: CHARITABLE | $5,000 |
Endowment Analysis
| Beg. Balance | $3,839,584 |
| Earnings | $431,148 |
| Net Contributions | $150,831 |
| Other Expense | $194,849 |
| Ending Balance | $4,226,714 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Foundation For Greater Buffalo Inc Buffalo, NY | $874,380,305 | $143,802,626 |
Community Foundation For Greater New Haven New Haven, CT | $745,279,119 | $58,670,540 |
Federation Of Jewish Communities Of The C I S Inc New York, NY | $45,162,356 | $39,631,208 |
Fairfield Countys Community Foundation Inc Norwalk, CT | $264,164,706 | $42,534,303 |
Vermont Community Foundation Middlebury, VT | $310,876,312 | $39,275,546 |
Rochester Area Community Foundation Rochester, NY | $452,673,006 | $59,557,190 |
Catholic Charities Of Buffalo Buffalo, NY | $41,576,335 | $33,263,179 |
New World Foundation New York, NY | $131,879,332 | $14,635,341 |
Central New York Community Foundation Inc Syracuse, NY | $395,864,792 | $49,020,873 |
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 |