Main Street Gloucester Preservation Trust
- Assets
- $3.9m
- Revenue
- $51.5k
- Investments
- $0.0
- Employees
- 1
- Location
- Gloucester, VA
- Founding
- 09/2011
- Data as of
- 12/2023
- EIN
- 20-2744649
Organization Overview
Main Street Gloucester Preservation Trust is located in Gloucester, VA. The organization was established in 2011. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, 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. Main Street Gloucester Preservation Trust 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 12/2023, Main Street Gloucester Preservation Trust generated $51.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (21.0%) each year. All expenses for the organization totaled $326.0k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Main Street Gloucester Preservation Trust has awarded 25 individual grants totaling $843,599. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ENHANCE BUSINESS DEVELOPMENT IN DOWNTOWN GLOUCESTER, VA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE BUSINESS IN DOWNTOWN GLOUCESTER, VA THROUGH ADVERTISING AND VARIOUS PROMOTIONAL EFFORTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Adrianne Joseph Chairman | Trustee | 0 | $0 |
Kim Hensley Vice-Chairman | Trustee | 0 | $0 |
David Brown Secretary | Trustee | 0 | $0 |
David Hudson Treasurer | Trustee | 0 | $0 |
Jenny Crittenden Board Member | Trustee | 0 | $0 |
Robert Hatten Board Member | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| 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 | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $235 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $50,033 |
| 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 | $51,476 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $57,742 |
| 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 | $54,006 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $11,439 |
| Fees for services: Management | $300 |
| Fees for services: Legal | $38,850 |
| Fees for services: Accounting | $4,900 |
| 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 | $16,245 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,096 |
| 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 | $3,073 |
| All other expenses | $0 |
| Total functional expenses | $326,045 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $297,160 |
| 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 | $3,581,298 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $51,292 |
| Total assets | $3,929,750 |
| 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 | $0 |
| Other liabilities | $5,861 |
| Total liabilities | $5,861 |
| Net assets without donor restrictions | $0 |
| 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 | $3,923,889 |
| Total liabilities and net assets/fund balances | $3,929,750 |
Grants Awarded
Over the last fiscal year, Main Street Gloucester Preservation Trust has awarded $53,742 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
GLOUCESTER MAIN STREET ASSOCIATION PURPOSE: PROMOTE HISTORIC GLOUCESTER MAIN STREET, PLAN AND IMPLEMENT EVENTS AND ATTRACT ADDITIONAL BUSINESSES AND RESIDENTS. | $39,742 |
COOK FOUNDATION PURPOSE: TO SUPPORT THE ORGANIZATION'S TAX EXEMPT PURPOSE TO SUPPORT THE ARTS IN GLOUCESTER, VA | $14,000 |