Summer Isle Foundation
- Assets
- $10.9m
- Revenue
- $2.8m
- Investments
- $7.1m
- Employees
- 0
- Location
- South Hamilton, MA
- Founding
- 02/2017
- Data as of
- 12/2021
- EIN
- 81-3882939
Organization Overview
Summer Isle Foundation is located in South Hamilton, MA. The organization was established in 2017. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, 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. Summer Isle 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, Summer Isle Foundation generated $2.8m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 20.2% each year .
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven W Barnes Trustee | 0 | $0 | |
Deborah A Barnes Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,413,350 |
| Interest on Savings | $138,911 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,284,377 |
| Capital Gain Net Income | $1,284,377 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $2,836,638 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $20,250 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $67,017 |
| Contributions, gifts, grants paid | $500,000 |
| Total expenses and disbursements | $567,017 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,762,921 |
| 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 | $0 |
| Other assets | $0 |
| Total assets | $10,911,658 |
| 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, Summer Isle Foundation has awarded $450,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
WE CHARITY PURPOSE: TO PROMOTE ITS CHARITABLE PURPOSE | $200,000 |
BOSTON CHILDREN'S HOSPITAL PURPOSE: TO PROMOTE ITS CHARITABLE PURPOSE | $150,000 |
Syracuse, NY PURPOSE: TO PROMOTE ITS CHRITABLE PURPOSE | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Comic Relief Inc New York, NY | $28,941,799 | $35,831,552 |
Givinga Foundation Inc Wellesley, MA | $2,876,364 | $15,849,424 |
Justgive Inc Weston, CT | $5,012,575 | $11,301,311 |
Clara Lionel Foundation New York, NY | $44,086,810 | $23,596,509 |
Visionspring New York, NY | $15,269,850 | $12,679,680 |
America Gives Inc New York, NY | $1,069,288 | $7,827,978 |
Foundations In Education Inc Bridgeport, CT | $36,181,181 | $11,526,982 |
Grant Recommendation Fund Spring Valley, NY | $460,055 | $4,767,095 |
The Catherine Jefferson Foundation Darien, CT | $18,987,801 | $13,741,460 |
Bikoff Foundation Whitestone, NY | $65,723,002 | $14,790,071 |
Giving Tuesday Inc Brooklyn, NY | $1,987,227 | $3,527,479 |
The Meringoff Family Foundation Inc New York, NY | $455,360 | $3,000,005 |