Beverly Cove Improvement Association Inc
- Assets
- $1.3m
- Revenue
- $73.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Beverly, MA
- Founding
- 00/0000
- Data as of
- 04/2022
- EIN
- 04-6046883
Organization Overview
Beverly Cove Improvement Association Inc is located in Beverly, MA. The organization was established in 0000. According to its NTEE Classification (S21) the organization is classified as: Community Coalitions, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Beverly Cove Improvement Association Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 04/2022, Beverly Cove Improvement Association Inc generated $73.8k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.1%) each year. All expenses for the organization totaled $56.8k during the year ending 04/2022. As we would expect to see with falling revenues, expenses have declined by (1.2%) per year over the past 7 years. 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 BRING TOGETHER NEIGHBORHOOD FAMILIES AND INDIVIDUALS FOR BETTERMENT OF NEIGHBORHOOD
Describe the Organization's Program Activity:
Part 3 - Line 4a
SOCIAL ACTIVITIES TO BRING NEIGHBORS TOGETHER FOR THE BETTERMENT OF THE NEIGHBORHOOD
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andy Cohen Vice President | Officer | 10 | $0 |
Ellen Faulkner Secretary | Officer | 3 | $0 |
Kim Dalbon Treasurer | Officer | 20 | $0 |
Charles Noss Director | Trustee | 5 | $0 |
Bill Rich Director | Trustee | 5 | $0 |
Bill Pittman Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $2,342 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,342 |
| Total Program Service Revenue | $864 |
| Investment income | $60,175 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $10,464 |
| 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 | $73,845 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $35 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $9,747 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,874 |
| Insurance | $5,003 |
| All other expenses | $1,000 |
| Total functional expenses | $56,820 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,485 |
| Savings and temporary cash investments | $2,935 |
| 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 | $0 |
| Net Land, buildings, and equipment | $386,681 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $911,826 |
| Total assets | $1,305,927 |
| Accounts payable and accrued expenses | $1,489 |
| 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 | $0 |
| Total liabilities | $1,489 |
| Net assets without donor restrictions | $481,852 |
| Net assets with donor restrictions | $822,586 |
| 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 | $1,305,927 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Beverly Cove Improvement Association Inc has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
The Devereaux Foundation Point Pleasant, NJ PURPOSE: GENERAL | $1,000 |
Endowment Analysis
| Beg. Balance | $975,093 |
| Earnings | -$22,520 |
| Admin Expense | $9,747 |
| Other Expense | $31,000 |
| Ending Balance | $911,826 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Northwest Bronx Community And Clergy Coalition Inc Bronx, NY | $5,985,223 | $6,738,060 |
Connecting For Children And Families Inc Woonsocket, RI | $1,914,929 | $4,351,217 |
O D A Community Development Corp Brooklyn, NY | $670,721 | $3,199,814 |
Citizens Committee For New York City Inc New York, NY | $7,691,250 | $2,979,222 |
Warren-Hamilton Counties Action Committee For Economic Opportunity Glens Falls, NY | $823,409 | $2,609,574 |
Vital Communities Inc White River Junction, VT | $1,663,364 | $2,954,150 |
Polish American Citizens Association Of Cambridge Incorpora Danvers, MA | $0 | $0 |
Senior Citizens League Of Flatbush Inc Brooklyn, NY | $196,100 | $1,899,125 |
New York Rural Water Association Inc Claverack, NY | $4,491,129 | $2,430,923 |
Long Island Citizens Campaign Inc Dba Citizens Campaign For The Farmingdale, NY | $162,791 | $1,602,734 |
Common Ground Committee Inc Sherman, CT | $1,088,379 | $1,998,421 |
Adoptive And Foster Family Coalition Of New York Inc New Paltz, NY | $889,195 | $1,826,418 |