The Pegasus Springs Foundation Inc
- Assets
- $1.6m
- Revenue
- $255.1k
- Investments
- $1.5m
- Employees
- 0
- Location
- Reading, MA
- Founding
- 08/2017
- Data as of
- 12/2023
- EIN
- 82-6117572
Organization Overview
The Pegasus Springs Foundation Inc is located in Reading, MA. The organization was established in 2017. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Pegasus Springs 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 12/2023, Pegasus Springs Foundation Inc generated $255.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (11.8%) each year. All expenses for the organization totaled $242.7k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Pegasus Springs Foundation Inc has awarded 25 individual grants totaling $1,538,765. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lorraine Martin President | 10 | $0 | |
Craig Martin Director | 10 | $0 | |
Lorraine Martin Treasurer | 10 | $0 | |
Craig Martin Clerk | 10 | $0 | |
Lorraine Martin Director | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $200,859 |
| Interest on Savings | $116 |
| Dividends & Interest | $42,906 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $8,485 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $11,170 |
| Total Revenue | $255,051 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,746 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $14,475 |
| Contributions, gifts, grants paid | $228,200 |
| Total expenses and disbursements | $242,675 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $73,295 |
| 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 | $1,614,799 |
| 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, The Pegasus Springs Foundation Inc has awarded $228,200 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
L&P EDUCATIONAL SERVICES PURPOSE: EDUCATIONAL | $25,000 |
PEGASUS SPRINGS EDUCATION COLLECTIVE PURPOSE: EDUCATIONAL | $75,000 |
TOWN OF READING PURPOSE: EDUCATIONAL | $40,000 |
NATIOANL TEACHERS HALL OF FAME PURPOSE: EDUCATIONAL | $10,000 |
SALEM STATE PURPOSE: EDUCATION | $21,200 |
METCO PURPOSE: EDUCATIONAL SUPPORT | $49,500 |