Riggs Cove Foundation
- Assets
- $561.0k
- Revenue
- $21.1k
- Investments
- $374.5k
- Employees
- 0
- Location
- Weston, MA
- Founding
- 12/2000
- Data as of
- 12/2022
- EIN
- 31-6651454
Organization Overview
Riggs Cove Foundation is located in Weston, MA. The organization was established in 2000. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., 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. Riggs Cove 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, Riggs Cove Foundation generated $21.1k 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 (9.1%) each year. All expenses for the organization totaled $49.5k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Riggs Cove Foundation has awarded 64 individual grants totaling $128,000. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Aldus H Chapin II Trustee | 1 | $0 | |
J Brian Potts Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $15,147 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,369 |
| Capital Gain Net Income | $3,369 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $2,619 |
| Total Revenue | $21,135 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $457 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $35 |
| Total operating and administrative expenses | $2,049 |
| Contributions, gifts, grants paid | $47,500 |
| Total expenses and disbursements | $49,549 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $186,579 |
| 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 | $14,348 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $561,032 |
| 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, Riggs Cove Foundation has awarded $47,500 in support to 23 organizations.
| Grant Recipient | Amount |
|---|---|
ACTON WAKEFIELD WATERSHED ALLIANCE PURPOSE: DEDICATED TO PROTECTING AND RESTORING WATER QUALITIY IN ACTON/WAKEFIELD NH | $3,000 |
BOYS & GIRLS CLUB OF MARSHFIELD PURPOSE: YOUTH DEVELOPMENT PROVIDINGPROGRAMS & SERVICES TO THE CHILDREN & FAMILIES | $2,000 |
BOWDOIN INTERNATIONAL MUSIC FESTIVAL PURPOSE: PROVIDE GIFTED YOUNG MUSICIANS WITH AN OPPORTUNITYTO STUDY & PERFORM | $7,500 |
SOUTH SHORE YMCA PURPOSE: COMMITTED TO STRENGTHENING COMMUNITIES BY NUTURINGTHE POTENITAL OF KIDS | $5,000 |
RESCUE ROAD TRIPS PURPOSE: PROVIDE RESCUE DOG TRANSPORT ANDADOPTIONS | $500 |
SCITUATE ANIMAL SHELTER PURPOSE: ANIMAL SHELTER AND RESOURCE FORPET WELFARE | $500 |