Penobscot River Trails Inc
- Assets
- $20.3m
- Revenue
- $700.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Great Neck, NY
- Founding
- 06/2019
- Data as of
- 12/2022
- EIN
- 83-1798734
Organization Overview
Penobscot River Trails Inc is located in Great Neck, NY. The organization was established in 2019. According to its NTEE Classification (C34) the organization is classified as: Land Resources Conservation, under the broad grouping of Environment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Penobscot River Trails 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 12/2022, Penobscot River Trails Inc generated $700.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (20.4%) each year. All expenses for the organization totaled $499.5k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
PENOBSCOT RIVER TRAILS OWNS AND MANAGES A PARKLAND AND FACILITIES IN SOLDIERTOWN TOWNSHIP, MAINE. THE CREATION OF PUBLIC RECREATION INFRASTRUCTURE ON LARGE TRACTS OF CONSERVED LAND IS INTENDED TO FOSTER AND PROMOTE PUBLIC ACCESS TO AND USE, ENJOYMENT, EDUCATION, AND NON-MOTORIZED TRAVEL ON SUCH LAND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gregory Galgano- Resigned 31122 Controller | 2 | $0 | |
Gilbert Butler President/treasurer/director | 2 | $0 | |
Dan Pittman Secretary | 0.5 | $0 | |
Carl Carlson-Resigned 051922 Executive Director | 3 | $0 | |
Jared Belfer- Service Thru 11722 Project Accountant | 4 | $0 | |
Dana Beach- Resigned 51922 Director | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Katahdin Area Trails | 12/30/22 | $159,206 |
Wonder & Awe | 12/30/22 | $119,370 |
Smallwood Inc | 12/30/22 | $51,705 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $700,367 |
| Interest on Savings | $5 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $700,372 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $11,812 |
| Printing and publications | $0 |
| Other expenses | $246,674 |
| Total operating and administrative expenses | $499,521 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $499,521 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $55,611 |
| 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 | $20,220,851 |
| Other assets | $0 |
| Total assets | $20,276,462 |
| Accounts payable and accrued expenses | $48,879 |
| 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 | $48,879 |