The@presumpscot Foundation
- Assets
- $1.5m
- Revenue
- $20.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Freeport, ME
- Founding
- 04/2011
- Data as of
- 12/2021
- EIN
- 27-1567070
Organization Overview
The@presumpscot Foundation is located in Freeport, ME. The organization was established in 2011. According to its NTEE Classification (A80) the organization is classified as: Historical Organizations, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. The@presumpscot 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 12/2021, The@presumpscot Foundation generated $20.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (41.1%) each year. All expenses for the organization totaled $43.1k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURPOSES OF THE FOUNDATION ARE TO ACQUIRE MAINTAIN AND RETAIN REAL PROPERTY AND RELATED PERSONAL PROPERTY IN MAINE FOR THE PURPOSES OF PROTECTING ITS NATURAL SCENIC AND OPEN SPACE VALUES PRESERVING OPEN SPACE FOR THE BENEFIT OF THE PUBLIC AND THE ENVIRONMENT AND ENGAGE IN HISTORIC PRESERVATION. IN 2021 THE PRIMARY PROJECT OF THE FOUNDATION WAS TO MAINTAIN HALFWAY ROCK LIGHTHOUSE. THIS LIGHTHOUSE IS PERCHED MIDWAY ACROSS THE MOUTH OF CASCO BAY ON A BARREN LEDGE OF TWO ACRES. IT IS A REMOTE WAVE-SWEPT BEACON NEARLY INACCESSIBLE AND TOTALLY EXPOSED TO THE RAVAGES OF NATURE. BUILT IN 1871 TO GUIDE MARINERS APPROACHING PORTLAND HARBOR THE LIGHTHOUSE WAS STAGED UNTIL IT WAS AUTOMATED IN 1976. THEREAFTER MAINTENANCE WAS LIMITED TO THE BARE ESSENTIALS REQUIRED TO KEEP THE LIGHT AND FOG HORN FUNCTIONING. IT WAS DECLARED SURPLUS GOVERNMENT PROPERTY IN 2014. DUE TO THE LIGHTHOUSE'S TREMENDOUS HISTORIC SIGNIFICANCE THE FOUNDATION ACQUIRED AND RESTORED IT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ford S Reiche President & Director | 10 | $0 | |
Karen N Reiche Treasurer & Director | 1 | $0 | |
Martin Eisenstein Clerk & Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $20,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $567 |
| Total Revenue | $20,567 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,209 |
| Depreciation | $22,902 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $15,964 |
| Total operating and administrative expenses | $43,064 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $43,064 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,604 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $1,424,226 |
| Other assets | $59,087 |
| Total assets | $1,484,917 |
| 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, The@presumpscot Foundation has awarded $3,964 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Yarmouth, ME PURPOSE: GENERAL PURPOSES | $2,414 |
Freeport, ME PURPOSE: GENERAL PURPOSES | $1,500 |
Portland, ME PURPOSE: GENERAL PURPOSES | $50 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pineland Farms Inc New Gloucester, ME | $0 | $7,727,361 |
Friends Of Katahdin Woods And Waters Portland, ME | $3,235,909 | $4,395,380 |
Castle Preservation Society Moultonborough, NH | $5,902,914 | $2,624,802 |
New Hampshire Preservation Alliance Concord, NH | $1,795,974 | $996,866 |
Sanborn Mills Inc Loudon, NH | $9,770,900 | $2,099,813 |
Redington Memorial Home Skowhegan, ME | $5,676,421 | $807,313 |
Plant Memorial Home Bath, ME | $3,482,192 | $671,466 |
Northeast Historic Film Bucksport, ME | $2,734,855 | $505,796 |
American Lighthouse Foundation Rockland, ME | $2,266,614 | $410,919 |
Kaler-Vaill Memorial Home Scarborough, ME | $8,374,987 | $683,742 |
Rochester Opera House Inc Rochester, NH | $977,163 | $769,630 |
Brooks Preservation Society Unity, ME | $1,366,306 | $367,590 |