Friends Of Valley Falls Inc
- Assets
- $698.7k
- Revenue
- $98.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Vernon, CT
- Founding
- 05/1995
- Data as of
- 06/2023
- EIN
- 06-1260706
Organization Overview
Friends Of Valley Falls Inc is located in Vernon, CT. The organization was established in 1995. According to its NTEE Classification (N11) the organization is classified as: Single Organization Support, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends Of Valley Falls 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 06/2023, Friends Of Valley Falls Inc generated $98.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (26.5%) each year. All expenses for the organization totaled $80.0k during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE FRIENDS OF VALLEY FALLS INC. ORGANIZATION IS BE THE RESPONSIBLE OWNERS OF THE VALLEY FALLS FARM AND TO PROMOTE THE BETTERMENT OF THE VALLEY FALLS PARK. THE ORGANIZATION CARRIES OUT THIS MISSION THROUGH CAREFUL STEWARDSHIP OF THEIR LANDS AND BUILDINGS CONSERVATION OF THEIR RESOURCES AND THROUGH OUTREACH TO THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ORGANIZATION PROVIDED MAINTENANCE PRESERVATION AND IMPROVEMENTS TO THE VALLEY FALLS PROPERTY INCLUDING THE FARM HOUSE AND SEVERAL FARM OUTBUILDINGS. THE OVERALL GOAL IS TO PRESERVE THE HISTORICALASPECTS OF THE VALLEY FALLS PROPERTY.
THE ORGANIZATION COMPLETED DEVELOPMENT OF THE FARM HERITAGE CENTER AT THE VALLEY FALLS SITE AND FORMALLY OPENED THE HERITAGE CENTER TO THE PUBLIC ON JUNE 10 2023. A TOTAL OF 164 PEOPLE ATTENDED THE HERITAGE CENTER DURING THE FIRST MONTH OF OPERATION. THE HERITAGE CENTER PRESENTS THE HISTORY OF THE LATE 19TH AND EARLY 20TH CENTURY FARM LIFE AND FARM IMPLEMENTS. THE PURPOSE IS TO EDUCATE THE PUBLIC TO FARM LIFE DURING THAT TIME PERIOD.
PUBLISHED NEWSLETTERS AND ANNUAL REPORT TO INFORM AND EDUCATE MEMBERS AND THE GENERAL PUBLIC ON THE PROGRESS OF FARM PRESERVATION AND THE DEVELOPMENT OF THE FARM HERITAGE CENTER. THE NEWS LETTERS WERE SENT TO APPROXIMATELY 300 PEOPLE WHILE THE ANNUAL REPORT WAS SENT TO APPROXIMATELY 150 MEMBERS AND SUPPORTERS. ALSO MAINTAINED AN INFORMATIONAL WEBSITE TO KEEP THE GENERAL PUBLIC INFORMED OF THE PROGRESS AT VALLEY FALLS FARM AND PARK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jean Merz Director | Trustee | 4.5 | $0 |
Ann Letendre Director | Trustee | 20 | $0 |
Bruce Dinnie Director | Trustee | 2.5 | $0 |
Jane Darico Director | Trustee | 1.5 | $0 |
Open Position President | Officer | 0 | $0 |
Maryann Levesque Vice President | Officer | 7 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $14,085 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $17,827 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,650 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $39,562 |
| Total Program Service Revenue | $0 |
| Investment income | $37,480 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $21,368 |
| 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 | $106 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $98,516 |
| 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 | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $79,984 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $79,984 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $14,785 |
| 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 | $350,565 |
| Investments—publicly traded securities | $333,382 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $698,732 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $851 |
| 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 | $851 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $697,881 |
| 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 | $698,732 |