Sakonnet Preservation Assoc Inc
- Assets
- $7.8m
- Revenue
- $3.7m
- Investments
- $0.0
- Employees
- 3
- Location
- Little Compton, RI
- Founding
- 10/1972
- Data as of
- 12/2021
- EIN
- 23-7225987
Organization Overview
Sakonnet Preservation Assoc Inc is located in Little Compton, RI. The organization was established in 1972. According to its NTEE Classification (A82) the organization is classified as: Historical Societies & Historic Preservation, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Sakonnet Preservation Assoc Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sakonnet Preservation Assoc 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 12/2021, Sakonnet Preservation Assoc Inc generated $3.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 37.4% each year . All expenses for the organization totaled $2.9m during the year ending 12/2021. 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 SAKONNET PRESERVATION ASSOCIATION, INC.,IS DEDICATED TO PRESERVING THE RURAL CHARACTER NATURAL RESOURCES OF LITTLE COMPTON, RHODE ISLAND, FOR THE LASTING BENEFIT OF THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LAND STEWARDSHIP - APPROXIMATELY 465 ACRES PRESERVED TO DATE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bill Theriault Treasurer | OfficerTrustee | 2 | $0 |
Abigail Brooks President | OfficerTrustee | 50 | $0 |
Ann Beardsley Secretary | OfficerTrustee | 3 | $0 |
Sheila Mackintosh Vice President | OfficerTrustee | 15 | $0 |
Lawre Goodnow Director | Trustee | 0.5 | $0 |
Paul Bazzoni Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $28,480 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $12,276 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,550,909 |
| Noncash contributions included in lines 1a–1f | $2,707,465 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,591,665 |
| Total Program Service Revenue | $1,000 |
| Investment income | $19,270 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $54,513 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,666,448 |
| 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 | $71,997 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,240 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $137 |
| Fees for services: Accounting | $12,996 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $22,476 |
| Advertising and promotion | $0 |
| Office expenses | $12,304 |
| Information technology | $4,016 |
| Royalties | $0 |
| Occupancy | $6,958 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,465 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,542 |
| All other expenses | $0 |
| Total functional expenses | $2,863,280 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $63,691 |
| Savings and temporary cash investments | $313,396 |
| Pledges and grants receivable | $332,004 |
| 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 | $26,912 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,616,207 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,415,685 |
| Total assets | $7,767,895 |
| Accounts payable and accrued expenses | $8,763 |
| Grants payable | $0 |
| Deferred revenue | $25,000 |
| 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 | $4,609 |
| Total liabilities | $38,372 |
| Net assets without donor restrictions | $6,141,361 |
| Net assets with donor restrictions | $1,588,162 |
| 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 | $7,767,895 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Sakonnet Preservation Assoc Inc has recieved totaling $17,000.
| Awarding Organization | Amount |
|---|---|
The Hpb Foundation Dallas, TX PURPOSE: UNRESTRICTED GENERAL | $15,000 |
Venusti Family Foundation Inc Brunswick, GA PURPOSE: GENERAL PURPOSE | $2,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Marthas Vineyard Museum Inc Vineyard Haven, MA | $28,426,122 | $2,586,449 |
Florence Griswold Museum Inc Old Lyme, CT | $32,307,778 | $2,875,061 |
Sakonnet Preservation Assoc Inc Little Compton, RI | $7,767,895 | $3,666,448 |
Mattatuck Historical Society Waterbury, CT | $30,372,011 | $3,496,557 |
Edith Wharton Restoration Inc Lenox, MA | $18,245,381 | $3,306,294 |
Rhode Island Historical Society Providence, RI | $30,696,643 | $3,629,513 |
Concord Antiquarian Society Concord, MA | $23,141,155 | $2,972,281 |
Greenwich Historical Society Inc Cos Cob, CT | $25,626,567 | $1,529,771 |
Marthas Vineyard Preservation Tr Inc Edgartown, MA | $22,708,847 | $3,056,624 |
Fort Adams Trust Inc Newport, RI | $1,609,265 | $1,343,928 |
Fairfield Historical Society Fairfield, CT | $12,480,196 | $1,219,328 |
Newport Historical Society Newport, RI | $9,362,707 | $1,665,951 |