Cobbs Creek Restoration And Community Foundation
- Assets
- $40.3m
- Revenue
- $9.9m
- Investments
- $0.0
- Employees
- 42
- Location
- West Conshohocken, PA
- Founding
- 08/2018
- Data as of
- 12/2023
- EIN
- 82-1942476
Organization Overview
Cobbs Creek Restoration And Community Foundation is located in West Conshohocken, PA. The organization was established in 2018. According to its NTEE Classification (N6A) the organization is classified as: Golf, under the broad grouping of Recreation & Sports and related organizations. As of 12/2023, Cobbs Creek Restoration And Community Foundation employed 42 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cobbs Creek Restoration And Community 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 12/2023, Cobbs Creek Restoration And Community Foundation generated $9.9m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 46.2% each year . All expenses for the organization totaled $11.8m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE COBBS CREEK RESTORATION AND COMMUNITY FOUNDATION ENDEAVORS TO BE THE PREEMINENT ORGANIZATION IN PROVIDING A WORLD CLASS EDUCATIONAL EXPERIENCE FOR THE YOUNG PEOPLE OF THE
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION IS ENTERING INTO A LONG-TERM LEASE WITH THE CITY OF PHILADELPHIA FOR THE REHABILIATION, RESTORATION, USE, MAINTENANCE AND MANAGEMENT OF THE COBBS CREEK WATERWAY AND GOLF COURSE. THE FOUNDATION FOCUSES ON IMPROVING THE LIVES OF YOUNG PEOPLE IN ITS COMMUNITY, INCLUDING WITHOUT LIMITATION, BY TEACHING THEM LIFE SKILLS USING THE GAME OF GOLF AS A TOOL TO ACHIEVE THIS PURPOSE. THE FOUNDATION IS IN THE PROCESS OF ESTABLISHING AFTER-SCHOOL PROGRAMMING AT THE COBBS CREEK GOLF COURSE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey Shanahan President | OfficerTrustee | 40 | $150,000 |
Chris Maguire Chairman | OfficerTrustee | 10 | $0 |
Chris Lange Sr Founding CEO | Trustee | 5 | $0 |
James Woodland Vice President | OfficerTrustee | 5 | $0 |
Amara Briggs Director | Trustee | 2 | $0 |
Charles Pizzi Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wme Entertainment Consulting | 12/30/23 | $150,000 |
Hazzouri And Associates Llc Consultng | 12/30/23 | $260,205 |
Stradley Ronan Legal | 12/30/23 | $147,286 |
Ceisier Media And Issue Advocacy Consulting | 12/30/23 | $91,686 |
Suntop Design Group Llc Consulting | 12/30/23 | $272,094 |
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 | $9,298,426 |
| Noncash contributions included in lines 1a–1f | $2,857,363 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,298,426 |
| Total Program Service Revenue | $3,410 |
| Investment income | $58,392 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $498,819 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,859,047 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,079,350 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $130,845 |
| Payroll taxes | $78,430 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $219,891 |
| Fees for services: Accounting | $97,074 |
| 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 | $0 |
| 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 | $12,000 |
| Insurance | $47,327 |
| All other expenses | $9,190,502 |
| Total functional expenses | $11,773,736 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,617,044 |
| Savings and temporary cash investments | $1,000,868 |
| Pledges and grants receivable | $20,489,203 |
| 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 | $29,959 |
| Net Land, buildings, and equipment | $165,221 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $40,302,295 |
| Accounts payable and accrued expenses | $1,641,323 |
| 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 | $0 |
| Total liabilities | $1,641,323 |
| Net assets without donor restrictions | $17,749,496 |
| Net assets with donor restrictions | $20,911,476 |
| 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 | $40,302,295 |