Admirals Cove Foundation Inc
- Assets
- $471.8k
- Revenue
- $3.5m
- Investments
- $0.0
- Employees
- 1
- Location
- Jupiter, FL
- Founding
- 06/2005
- Data as of
- 04/2022
- EIN
- 59-3786373
Organization Overview
Admirals Cove Foundation Inc is located in Jupiter, FL. The organization was established in 2005. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, 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. Admirals Cove Foundation 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 04/2022, Admirals Cove Foundation Inc generated $3.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 38.6% each year . All expenses for the organization totaled $3.3m during the year ending 04/2022. While expenses have increased by 37.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Admirals Cove Foundation Inc has awarded 298 individual grants totaling $12,283,614. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
ADMIRALS COVE FOUNDATION IS THE COMMUNITY PHILANTHROPIC FOUNDATION OF THE RESIDENTS OF THE CLUB AT ADMIRALS COVE. OUR MISSION IS TO IMPROVE LIVES THROUGH A VITAL CULTURE OF GIVING. WE FOCUS ON THE MOST NEEDY IN PALM BEACH COUNTY BY SUPPORTING LOCAL NONPROFIT ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ADMIRALS COVE FOUNDATION PHILANTHROPIC EFFORTS ARE MADE POSSIBLE BY THE GENEROUS SUPPORT OF OUR MEMBERS DURING OUR ANNUAL GIVING CAMPAIGN. THE FOUNDATION'S GRANTS ARE FOCUSED EXCLUSIVELY IN PALM BEACH COUNTY IN THE AREAS OF EDUCATION, HEALTH, AND SOCIAL SERVICES. THE FOUNDATION AND ITS VOLUNTEER COMMITTEES WORK ALONGSIDE A VARIETY OF ORGANIZATIONS THAT MAKE A MEANINGFUL IMPACT IN THE LIVES OF INDIVIDUALS AND FAMILIES IN PALM BEACH COUNTY.
DONOR-DIRECTED DONATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric Becker President | Officer | $0 | |
Suzanne Carroll Vice Preside | Officer | $0 | |
Margot Lessans Secretary | Officer | $0 | |
Charles Ezrine Assistant Tr | Officer | $0 | |
Jill Riehl Treasurer | Officer | $0 | |
Andy Kahn Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,389,265 |
| Noncash contributions included in lines 1a–1f | $24,240 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,389,265 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $136,171 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,525,436 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,973,775 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $193,050 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $81,280 |
| Compensation of current officers, directors, key employees. | $8,128 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,228 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,900 |
| 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 | $0 |
| Information technology | $440 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $810 |
| All other expenses | $5,789 |
| Total functional expenses | $3,297,039 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $471,796 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $471,796 |
| Accounts payable and accrued expenses | $7,676 |
| Grants payable | $106,137 |
| 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 | $0 |
| Total liabilities | $113,813 |
| Net assets without donor restrictions | $357,983 |
| Net assets with donor restrictions | $0 |
| 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 | $471,796 |
Grants Awarded
Over the last fiscal year, Admirals Cove Foundation Inc has awarded $2,973,775 in support to 55 organizations.
| Grant Recipient | Amount |
|---|---|
Jupiter, FL PURPOSE: DONOR DIRECTED | $721,254 |
Fort Pierce, FL PURPOSE: DONOR DIRECTED | $468,977 |
ALL OTHERS UNDER 5K | | | $419,080 |
Jupiter, FL PURPOSE: DONOR DIRECTED | $145,704 |
Jupiter, FL PURPOSE: DONOR DIRECTED | $68,600 |
Juno Beach, FL PURPOSE: DONOR DIRECTED | $51,500 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Admirals Cove Foundation Inc has recieved totaling $11,800.
| Awarding Organization | Amount |
|---|---|
Rogers Family Foundation Inc New York, NY PURPOSE: EDUCATION/HEALTH/SOCIAL SERVICES | $7,500 |
Ryman Hospitality Properties Foundation Nashville, TN PURPOSE: GRANT FOR SUPPORT OF PROGRAM MISSION FOR EDUCATION | $2,500 |
Joshua Levine Memorial Foundation Jupiter, FL PURPOSE: EDUCATIONAL | $1,800 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of South Florida Institute Of Applied Engineering I Tampa, FL | $5,205,656 | $9,587,469 |
The Legacy Foundation At Shell Point Inc Fort Myers, FL | $5,518,203 | $5,863,574 |
East Lake Foundation Inc Atlanta, GA | $69,998,744 | $30,410,500 |
Scintilla Charter Academy Inc Valdosta, GA | $15,718,556 | $7,823,461 |
Tampa-Orlando-Pinellas Jewish Foundation Inc Tampa, FL | $66,534,235 | $10,949,791 |
Wellstar Foundation Inc Marietta, GA | $30,643,336 | $9,116,090 |
Chapters Health Foundation Inc Temple Terrace, FL | $14,703,109 | $7,254,901 |
Consortium Of Florida Education Foundations Inc Gainesville, FL | $1,204,122 | $5,873,511 |
Shepherd Center Foundation Inc Atlanta, GA | $141,754,007 | $86,686 |
Programa De Ayuda Humanitaria Para Venezuela Weston, FL | $8,434 | $5,060,742 |
Make-A-Wish Foundation Of Georgia Inc Atlanta, GA | $3,516,569 | $5,599,948 |
Pbsa Community Engagement Inc Atlanta, GA | $11,515,237 | $4,451,967 |