Portside Foundation
- Assets
- $50.2k
- Revenue
- $227.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Falmouth, ME
- Founding
- 02/2018
- Data as of
- 12/2021
- EIN
- 82-4045670
Organization Overview
Portside Foundation is located in Falmouth, ME. The organization was established in 2018. According to its NTEE Classification (S12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Portside 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, Portside Foundation generated $227.2k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 46.1% each year . All expenses for the organization totaled $189.3k during the year ending 12/2021. While expenses have increased by 38.5% per year over the past 4 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PORTSIDE FOUNDATION IS ORGANIZED AS A PUBLIC BENEFIT CORPORATION FOR THE PURPOSE OF CONDUCTING FUNDRAISING EVENTS AND ACTIVITIES TO SUPPORT CHARITABLE, SCIENTIFIC, AND EDUCATIONAL CAUSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THROUGHOUT 2021, THE PORTSIDE FOUNDATION REMAINED VIGILANT AND DEDICATED TO ITS MISSION TO IMPROVE THE HEALTH AND WELL-BEING OF COMMUNITIES LOCATED IN AND AROUND PORTLAND, MAINE. THROUGH ITS GRANT-GIVING OPERATIONS (WHICH ARE SUPPORTED THROUGH THE FOUNDATION'S COMMUNITY-ENGAGING EVENTS AND FUNDRAISERS), THE FOUNDATION PROVIDED OVER $180,000 TO AREA-CHARITIES, WHICH COLLECTIVELY PROVIDED AID FOR HUMAN RIGHTS, PUBLIC HEALTH, YOUTH PROGRAMS, SCIENTIFIC RESEARCH, ANIMAL WELWARE, AND OTHER CHARITABLE CAUSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jessica Nason Secretary | OfficerTrustee | 5 | $0 |
Dava Davin President | OfficerTrustee | 5 | $0 |
Nikki Petersen Treasurer (part Year) | OfficerTrustee | 5 | $0 |
Russ Bouchard Treasurer | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $31,196 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $178,906 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $210,102 |
| 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 | $17,121 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $227,223 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $186,509 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $85 |
| Fees for services: Accounting | $0 |
| 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 | $2,689 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $189,283 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $48,998 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,250 |
| 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 | $50,248 |
| Accounts payable and accrued expenses | $0 |
| 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 | $3,000 |
| Total liabilities | $3,000 |
| Net assets without donor restrictions | $47,248 |
| 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 | $50,248 |
Grants Awarded
Over the last fiscal year, Portside Foundation has awarded $185,890 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
Ellsworth, ME PURPOSE: General Operating Support | $114,400 |
Falmouth, ME PURPOSE: General Operating Support | $22,000 |
Brunswick, ME PURPOSE: General Operating Support | $17,105 |
Belfast, ME PURPOSE: General Operating Support | $7,500 |
Portland, ME PURPOSE: General Operating Support | $7,500 |
Kennebunk, ME PURPOSE: General Operating Support | $6,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Portside Foundation has recieved totaling $5.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
New Hampshire Community Loan Fund Concord, NH | $178,821,408 | $15,842,700 |
Portside Foundation Falmouth, ME | $50,248 | $227,223 |
Salem Community Benefits Inc Salem, NH | $298,853 | $100,237 |
Kennebunk Rotary Charitable Fund Kennebunk, ME | $124,195 | $0 |
Sinawik Inc Presque Isle, ME | $98,596 | $0 |