Provincetown Commons
- Assets
- $2.2m
- Revenue
- $639.9k
- Investments
- $0.0
- Employees
- 3
- Location
- Provincetown, MA
- Founding
- 08/2017
- Data as of
- 12/2022
- EIN
- 81-4915644
Organization Overview
Provincetown Commons is located in Provincetown, MA. The organization was established in 2017. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Provincetown Commons employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Provincetown Commons 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, Provincetown Commons generated $639.9k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 15.0% each year . All expenses for the organization totaled $399.4k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE YEAR-ROUND WORKING SPACE AND PROFESSIONAL SUPPORT TO AREA ARTISTS, OTHER MEMBERS OF THE LOCAL CREATIVE ECONOMY, AND START-UP BUSINESSES, AND WILL SERVE AS A GATHERING SPACE FOR EDUCATIONAL AND COMMUNITY INITIATIVES, AND THE OUTER CAPE COMMUNITY AT LARGE. AIMING TO CONTRIBUTE TO THE STRENGTHENING OF PROVINCETOWN'S YEAR-ROUND ECONOMY, PROVINCETOWN COMMONS AND THE COMMUNITY CENTER WILL SERVE AS A NEXUS FOR CREATIVITY, COLLABORATION AND NEW ECONOMIC OPPORTUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE YEAR-ROUND WORKING SPACE AND PROFESSIONAL SUPPORT TO AREA ARTISTS, OTHER MEMBERS OF THE LOCAL CREATIVE ECONOMY, AND START-UP BUSINESSES, AND WILL SERVE AS A GATHERING SPACE FOR EDUCATIONAL AND COMMUNITY INITIATIVES, AND THE OUTER CAPE COMMUNITY AT LARGE. AIMING TO CONTRIBUTE TO THE STRENGTHENING OF PROVINCETOWN'S YEAR-ROUND ECONOMY, PROVINCETOWN COMMONS AND THE COMMUNITY CENTER WILL SERVE AS A NEXUS FOR CREATIVITY, COLLABORATION AND NEW ECONOMIC OPPORTUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Claire Adams Director | Trustee | 3 | $0 |
Mark Adams Director | Trustee | 3 | $0 |
Karen Cappotto Director | Trustee | 3 | $0 |
Taryn Callahan-Miller Director | Trustee | 3 | $0 |
Michael Dillon Treasurer | OfficerTrustee | 3 | $0 |
Lisa Farnsworth Director | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $58,476 |
| All other contributions, gifts, grants, and similar amounts not included above | $409,728 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $468,204 |
| Total Program Service Revenue | $170,317 |
| Investment income | $1,382 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $639,903 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $90,000 |
| Compensation of current officers, directors, key employees. | $45,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $69,304 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,931 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,622 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $15,550 |
| Advertising and promotion | $4,514 |
| Office expenses | $11,945 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $13,395 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,007 |
| Interest | $16,300 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $50,250 |
| Insurance | $13,684 |
| All other expenses | $9,031 |
| Total functional expenses | $399,445 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $436,159 |
| Savings and temporary cash investments | $251,237 |
| 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 | $17,339 |
| Net Land, buildings, and equipment | $1,176,690 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $308,865 |
| Total assets | $2,190,290 |
| Accounts payable and accrued expenses | $2,564 |
| Grants payable | $0 |
| 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 | $691,428 |
| Total liabilities | $693,992 |
| Net assets without donor restrictions | $1,496,298 |
| 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 | $2,190,290 |