Misquamicut Business Association
- Assets
- $38.1k
- Revenue
- $203.9k
- Investments
- $0.0
- Employees
- 24
- Location
- Westerly, RI
- Founding
- 06/2003
- Data as of
- 12/2021
- EIN
- 05-0462666
Organization Overview
Misquamicut Business Association is located in Westerly, RI. The organization was established in 2003. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Misquamicut Business Association employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Misquamicut Business Association is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Misquamicut Business Association generated $203.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.8% each year. All expenses for the organization totaled $190.5k during the year ending 12/2021. While expenses have increased by 3.8% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ASSOCIATION'S PRIMARY EXEMPT PURPOSE IS TO PROMOTE MISQUAMICUT BEACH AREA THROUGH VARIOUS EVENTS AND FUNCTIONS OPEN TO THE GENERAL PUBLIC. THE ASSOCIATION CONSIDERS AND ADDRESSES COMMON PROBLEMS INVOLVED IN OPERATING A BUSINESS IN THE MISQUAMICUT BEACH AREA AND TO SECURE COOPERATIVE ACTION IN ADVANCING COMMON PURPOSES OF THE MEMBERS OF THE ASSOCIATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOST SPECIAL EVENTS DURING THE SPRING AND FALL FOR GENERAL PUBLIC
OPERATE TOURIST BOOTH ON ATLANTIC AVENUE IN MISQUAMICUT TO ASSIST AND ACCOMODATE VISITORS WITH THEIR LODGING, ENTERTAINMENT AND TRAVELING NEEDS WHILE VISITING THE AREA
STREET AND BEACH CLEAN UP OF THE MISQUAMICUT BEACH BUSINESS DISTRICT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Caswell Cooke Jr Executive Di | Trustee | 40 | $50,600 |
Charles Trefes President | Officer | 8 | $0 |
Garry Algiere Treasurer | Officer | 2.5 | $0 |
Robert Barber Secretary | Officer | 8 | $0 |
Tim Brennan Vice Preside | Officer | 8 | $0 |
Mike Granieri Assoc Board | Trustee | 2.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $30,630 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,242 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $32,872 |
| Total Program Service Revenue | $9,325 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $113,179 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $203,904 |
| 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. | $50,599 |
| Compensation of current officers, directors, key employees. | $16,866 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $50,953 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,461 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $35 |
| Fees for services: Accounting | $11,100 |
| 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 | $12,873 |
| Information technology | $7,184 |
| Royalties | $0 |
| Occupancy | $5,417 |
| Travel | $5,190 |
| 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 | $1,857 |
| Insurance | $1,498 |
| All other expenses | $12,743 |
| Total functional expenses | $190,522 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $27,754 |
| 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 | $0 |
| Net Land, buildings, and equipment | $10,044 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $260 |
| Total assets | $38,058 |
| Accounts payable and accrued expenses | $0 |
| 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 | $85 |
| Other liabilities | $0 |
| Total liabilities | $85 |
| Net assets without donor restrictions | $37,973 |
| 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 | $38,058 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Misquamicut Business Association has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
Washington Trust Charitable Foundation Westerly, RI PURPOSE: OPERATIONAL | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ll Global Inc Of Connecticut Windsor, CT | $82,107,687 | $49,999,799 |
Key Human Services Inc Wethersfield, CT | $14,644,434 | $25,649,507 |
Network Inc Andover, CT | $11,161,726 | $23,443,256 |
Warren Alpert Foundation Providence, RI | $0 | $34,230,713 |
Rhode Island Automobile Insurance Plan Johnston, RI | $25,251,183 | $13,070,810 |
Telecom Infra Project Inc Wakefield, MA | $19,363,144 | $19,879,167 |
Northeast Gas Association Inc Needham, MA | $15,830,312 | $17,592,560 |
Chartered Alternative Investment Analyst Association Inc Amherst, MA | $10,766,695 | $9,878,929 |
Downtown Boston Business Improvement District Corporation Boston, MA | $4,039,139 | $7,235,337 |
Greater Boston Chamber Of Commerce Boston, MA | $11,076,057 | $7,257,999 |
Better Business Bureau Inc Marlborough, MA | $5,408,175 | $6,008,226 |
Two Ten Footwear Foundation Inc Waltham, MA | $38,171,628 | $5,812,562 |