Friends Of Drake Well Inc
- Assets
- $827.6k
- Revenue
- $188.4k
- Investments
- $0.0
- Employees
- 6
- Location
- Titusville, PA
- Founding
- 06/1984
- Data as of
- 06/2022
- EIN
- 25-1457038
Organization Overview
Friends Of Drake Well Inc is located in Titusville, PA. The organization was established in 1984. According to its NTEE Classification (T21) the organization is classified as: Corporate Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 06/2022, Friends Of Drake Well Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends Of Drake Well 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 06/2022, Friends Of Drake Well Inc generated $188.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.9%) each year. All expenses for the organization totaled $177.1k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (6.8%) per year over the past 7 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
FRIENDS OF DRAKE WELL INC., A NON-PROFIT 501(C)(3) MEMBERSHIP ORGANIZATION, ENSURES THAT DRAKE WELL MUSEUM & PARK CONTINUES TO GROW AND SUCCEED IN ITS EDUCATIONAL MISSION. DRAKE WELL MUSEUM AND PARK UNCOVERS, PRESERVES AND SHARES PENNSYLVANIA'S RICH PETROLEUM HISTORY, CONNECTING PAST TO PRESENT THROUGH A DIVERSITY OF PERSPECTIVES AND INSPIRING OUR GLOBAL AUDIENCE TO STRIVE FOR A SUSTAINABLE ENERGY FUTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THE FISCAL YEAR 2020-2021, THE SITE WAS CLOSED TO THE PUBLIC FOR THE MAJORITY OF THE YEAR DUE TO THE COVID-19 PANDEMIC.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Dubois President | OfficerTrustee | $0 | |
Dick Baker Vice Preside | OfficerTrustee | $0 | |
Ann Warner Treasurer | OfficerTrustee | $0 | |
Carole Hall Secretary | OfficerTrustee | $0 | |
Art Jennings Board Member | Trustee | $0 | |
Emily Altomare Board Member | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $7,385 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $102,090 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $109,475 |
| Total Program Service Revenue | $10,525 |
| Investment income | $6,108 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $31,863 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $20,819 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $188,426 |
| 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 | $94,081 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $872 |
| Payroll taxes | $9,019 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,778 |
| 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 | $28 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,517 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $685 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $568 |
| All other expenses | $2,972 |
| Total functional expenses | $177,061 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $62,515 |
| Savings and temporary cash investments | $597,558 |
| 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 | $14,314 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $153,165 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $827,552 |
| 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 | $1,633 |
| Total liabilities | $1,633 |
| Net assets without donor restrictions | $352,086 |
| Net assets with donor restrictions | $473,833 |
| 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 | $827,552 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Friends Of Drake Well Inc has recieved totaling $60,616.
| Awarding Organization | Amount |
|---|---|
John Nesbit Rees & Sarah Henne Richard W Roeder Titusville, PA PURPOSE: PROGRAMMING | $60,000 |
Jacobs Family Foundation Inc Delmont, PA PURPOSE: OPERATING EXPENDITURE | $500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $66 |
Jp Morgan Chase Foundation New York, NY PURPOSE: GENERAL OPERATING SUPPORT | $50 |
Endowment Analysis
| Beg. Balance | $112,828 |
| Earnings | $40,336 |
| Ending Balance | $153,165 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Longwood Gardens Inc Kennett Square, PA | $1,437,882,296 | $93,650,257 |
Goldman Sachs Foundation New York, NY | $0 | $131,861,636 |
Commonwealth Fund New York, NY | $0 | $69,444,117 |
Longwood Foundation Inc Wilmington, DE | $0 | $53,076,926 |
The Comcast Nbcuniversal Foundation Philadelphia, PA | $16,720,236 | $25,679,760 |
Sherman Fairchild Foundation Inc Chevy Chase, MD | $608,781,139 | $70,437,193 |
Clark Foundation New York, NY | $443,485,871 | $14,281,811 |
John A Hartford Foundation New York, NY | $722,012,839 | $47,164,108 |
Blackstone Charitable Foundation New York, NY | $141,651,293 | $22,568,243 |
Progressive Insurance Foundation Cleveland, OH | $7,804,354 | $47,823,383 |
Interlaken Foundation Inc NEW YORk, NY | $351,082,390 | $62,213,890 |
Verizon Foundation Basking Ridge, NJ | $26,429,657 | $21,584,016 |