Great Island Foundation
- Assets
- $32.1m
- Revenue
- $1.0m
- Investments
- $31.5m
- Employees
- 0
- Location
- New York, NY
- Founding
- 05/1999
- Data as of
- 12/2022
- EIN
- 13-4049061
Organization Overview
Great Island Foundation is located in New York, NY. The organization was established in 1999. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Great Island Foundation 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, Great Island Foundation generated $1.0m 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 (13.4%) each year. All expenses for the organization totaled $2.3m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Great Island Foundation has awarded 116 individual grants totaling $5,419,000. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eliot Nolen Secretary | 1 | $0 | |
Malcolm C Nolen Treasurer | 1 | $0 | |
Christian Nolen President | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Landmark Management Inc | 12/30/22 | $115,768 |
Landmark Management Inc | 12/30/22 | $88,413 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $7,972 |
| Dividends & Interest | $424,614 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $520,565 |
| Capital Gain Net Income | $520,565 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $62,904 |
| Total Revenue | $1,016,055 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,722 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $246,725 |
| Total operating and administrative expenses | $534,305 |
| Contributions, gifts, grants paid | $1,800,000 |
| Total expenses and disbursements | $2,334,305 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $569,055 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $21,418,945 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $32,098,117 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Great Island Foundation has awarded $1,800,000 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
BLUE FOREST FINANCE PURPOSE: CHARITABLE GENERAL PURPOSE | $150,000 |
COMMUNITY SERVINGS PURPOSE: CHARITABLE GENERAL PURPOSE | $5,000 |
CAPE COD HEALTHCARE FOUNDATION PURPOSE: CHARITABLE GENERAL PURPOSE | $5,000 |
DISCALCED INC PURPOSE: CHARITABLE GENERAL PURPOSE | $25,000 |
FOOD LINK PURPOSE: CHARITABLE GENERAL PURPOSE | $25,000 |
GREATER BOSTON FOOD BANK PURPOSE: CHARITABLE GENERAL PURPOSE | $50,000 |