Riggs Cove Foundation
- Assets
- $589.4k
- Revenue
- $17.1k
- Investments
- $481.2k
- Employees
- 0
- Location
- Weston, MA
- Founding
- 12/2000
- Data as of
- 12/2021
- 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 12/2021, Riggs Cove Foundation generated $17.1k 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 (16.1%) each year. All expenses for the organization totaled $45.8k 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
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 | $13,672 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,444 |
| Capital Gain Net Income | $3,444 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $17,116 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $197 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $35 |
| Total operating and administrative expenses | $1,800 |
| Contributions, gifts, grants paid | $44,000 |
| Total expenses and disbursements | $45,800 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $108,244 |
| 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 | $14,638 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $589,446 |
| 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 $44,000 in support to 23 organizations.
| Grant Recipient | Amount |
|---|---|
Brunswick, ME PURPOSE: PROVIDE GIFTED YOUNG MUSICIANS WITH AN OPPORTUNITYTO STUDY & PERFORM | $7,000 |
SOUTH SHORE YMCA PURPOSE: COMMITTED TO STRENGTHENING COMMUNITIES BY NUTURINGTHE POTENITAL OF KIDS | $7,000 |
Easthampton, MA PURPOSE: TO MAKE EDUCATIONTRANSFORMATIVE FOR OUR STUDENTS | $4,000 |
FRIENDS OF ACCOTINK PURPOSE: FOSTER ENVIRONMENTAL AWARENESSEDUCATION & ENHANCE RECREATIONAL USERESTORE HABITATS & PRESERVE LAND | $3,000 |
Union, NH PURPOSE: DEDICATED TO PROTECTING AND RESTORING WATER QUALITIY IN ACTON/WAKEFIELD NH | $3,000 |
ZOO NEW ENGLAND PURPOSE: INSPIRE PEOPLE TO PROTECT & SUSTAIN THE NATURAL WORLD FOR FUTURE GENERATIONS | $2,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bam Endowment Trust Brooklyn, NY | $106,959,115 | $5,566,840 |
John R Oishei Consolidated Tr 01091998 Buffalo, NY | $21,967,662 | $5,743,689 |
Goldstein Family Foundation Spring Valley, NY | $15,534,248 | $10,502,547 |
Sol Goldman Charitable Trust New York, NY | $0 | $3,639,060 |
Schwartz Fam Foundation Tr New York, NY | $15,701,646 | $4,641,500 |
Lyford Cay Foundation Inc Greenwich, CT | $29,953,842 | $2,393,799 |
Wings For Things Foundation Inc Sandy Hook, CT | $31,046,537 | $6,302,092 |
Stephanie And Lawrence Flinn Jr Charitable Trust Rye, NY | $38,008,610 | $1,545,118 |
Sunshine Foundation Woodbury, NY | $26,794,175 | $2,071,620 |
Peter A And Deborah L Weinberg Family Foundation Albany, NY | $9,427,245 | $1,958,603 |
Trustees Under The Will Of Herman Dana Newton, MA | $0 | $3,151,156 |
Borrego Foundation Larchmont, NY | $44,485,466 | $2,189,586 |