Southcoast Community Foundation Inc
- Assets
- $49.6m
- Revenue
- $12.8m
- Investments
- $0.0
- Employees
- 18
- Location
- New Bedford, MA
- Founding
- 10/1995
- Data as of
- 12/2022
- 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 12/2022, Southcoast Community Foundation Inc employed 18 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 12/2022, Southcoast Community Foundation Inc generated $12.8m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 10.5% each year . All expenses for the organization totaled $8.5m during the year ending 12/2022. While expenses have increased by 7.0% per year over the past 8 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 723 individual grants totaling $30,216,941. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO MOBILIZE PHILANTHROPY BY MATCHING DONORS AND RESOURCES WITH COMMUNITY NEEDS.
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 |
|---|---|---|---|
Gail Fortes Chair | OfficerTrustee | 2 | $0 |
Linda Bodenmann Immediate Past Chair | OfficerTrustee | 2 | $0 |
Jayne Rebello Korn Vice Chair | OfficerTrustee | 2 | $0 |
Leonard Lee President And CEO | OfficerTrustee | 40 | $136,509 |
Jonathan Rounds Treasurer | OfficerTrustee | 2 | $0 |
Carl J Cruz Clerk | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Postlight Llc Digital Consulting | 12/30/22 | $530,400 |
Matter Unlimited Llc Strategic Consulting | 12/30/22 | $210,530 |
Moth Design Inc Creative Strategy Consulting | 12/30/22 | $127,135 |
Digital Millennial Consulting Llc Project Management | 12/30/22 | $111,925 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $186,802 |
| Related organizations | $0 |
| Government grants | $3,118,806 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,602,063 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,907,671 |
| Total Program Service Revenue | $0 |
| Investment income | $853,532 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $117,972 |
| Net Income from Fundraising Events | -$69,021 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,813,868 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,460,490 |
| Grants and other assistance to domestic individuals. | $663,181 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $145,475 |
| Compensation of current officers, directors, key employees. | $64,009 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,125,741 |
| Pension plan accruals and contributions | $31,759 |
| Other employee benefits | $88,694 |
| Payroll taxes | $112,512 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $20,135 |
| Fees for services: Accounting | $38,675 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,305,525 |
| Advertising and promotion | $35,761 |
| Office expenses | $191,293 |
| Information technology | $57,815 |
| Royalties | $0 |
| Occupancy | $96,397 |
| Travel | $25,108 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $24,069 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,735 |
| Insurance | $8,175 |
| All other expenses | $0 |
| Total functional expenses | $8,467,671 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,918,581 |
| Savings and temporary cash investments | $631,920 |
| 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 | $52,025 |
| Net Land, buildings, and equipment | $18,532 |
| Investments—publicly traded securities | $38,323,273 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $15,075 |
| Other assets | $4,648,115 |
| Total assets | $49,607,521 |
| Accounts payable and accrued expenses | $200,866 |
| Grants payable | $309,266 |
| 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 | $1,234,431 |
| Total liabilities | $1,744,563 |
| Net assets without donor restrictions | $39,898,545 |
| Net assets with donor restrictions | $7,964,413 |
| 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 | $49,607,521 |
Grants Awarded
Over the last fiscal year, Southcoast Community Foundation Inc has awarded $4,375,334 in support to 110 organizations.
| Grant Recipient | Amount |
|---|---|
3RD EYE YOUTH EMPOWERMENT PURPOSE: PURCHASE AND RENOVATE A BUILDING IN DOWNTOWN NB | $12,500 |
ALL HANDS AND HEARTS PURPOSE: PLEASE USE THIS GIFT TO SUPPORT YOUR WORK IN UKRAINE AND FOR REFUGEES IN SURROUNDING COUNTRIES. | $10,000 |
ATTLEBORO AREA INTERFAITH COLLABORATIVE PURPOSE: #AAICINACTION | $50,000 |
BOYS & GIRLS CLUBS OF METRO SOUTH PURPOSE: CDBG REIMBURSEMENTS OCTOBER | $12,391 |
ALMA DEL MAR FOUNDATION INC PURPOSE: ALMA DEL MAR SCHOOL LIBRARY | $20,000 |
BOYS AND GIRLS CLUB OF GREATER NEW BEDFORDWAREHAM PURPOSE: GENERAL OPERATING, GENERAL SUPPORT FROM THE JAKE FABIAN MEMORIAL FUND, NEW BEDFORD WELLNESS INITIATIVE | $35,000 |