Cobscook Shores Inc
- Assets
- $14.5m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Great Neck, NY
- Founding
- 07/2019
- Data as of
- 12/2022
- EIN
- 83-1815476
Organization Overview
Cobscook Shores Inc is located in Great Neck, NY. The organization was established in 2019. 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. Cobscook Shores 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, Cobscook Shores Inc generated $2.1m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 17.6% each year . All expenses for the organization totaled $597.1k during the year ending 12/2022. While expenses have increased by 21.9% per year over the past 5 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.
Since 2019, Cobscook Shores Inc has awarded 12 individual grants totaling $842,362. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
COBSCOOK SHORES OWNS AND MANAGES A SERIES OF PARKLANDS AND FACILITIES ON MAINE'S COBSCOOK BAY. 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 03-11-22 Controller | 5 | $0 | |
Gilbert Butler-Elected 5-19-22 President/treasurer/director | 10 | $0 | |
Dan Pittman Secretary | 0.5 | $0 | |
Carl Carlson-Resigned 05-19-22 Executive Director | 12 | $0 | |
Jared Belfer-Resigned 11-07-22 Project Accountant | 10 | $0 | |
Dana Beach-Resigned 05-19-22 Director | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bear And Owl Tree Care | 12/30/22 | $233,788 |
Carver Construction Inc | 12/30/22 | $190,609 |
Butler Conservation Inc | 12/30/22 | $116,159 |
Randy Hall | 12/30/22 | $139,222 |
Obp Trailworks Llc | 12/30/22 | $105,263 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,090,000 |
| Interest on Savings | $0 |
| 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 | $2,090,000 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $5,968 |
| Depreciation | $0 |
| Occupancy | $1,000 |
| Travel, conferences, and meetings | $99,675 |
| Printing and publications | $0 |
| Other expenses | $272,185 |
| Total operating and administrative expenses | $588,600 |
| Contributions, gifts, grants paid | $8,450 |
| Total expenses and disbursements | $597,050 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,836 |
| 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 | $14,478,916 |
| Other assets | $500 |
| Total assets | $14,484,252 |
| Accounts payable and accrued expenses | $80,901 |
| 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 | $8,403 |
| Total liabilities | $89,304 |
Grants Awarded
Over the last fiscal year, Cobscook Shores Inc has awarded $8,450 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN LEGION COBSCOOK POST 59 PURPOSE: ENVIRONMENTAL | $4,700 |
COBSCOOK TRAILS COALITION PURPOSE: ENVIRONMENTAL | $500 |
DENNYS RIVER HISTORICAL SOCIETY PURPOSE: ENVIRONMENTAL | $1,000 |
DOWNEAST ACADIA REGIONAL TOURISM PURPOSE: ENVIRONMENTAL | $250 |
GREATER EASTPORT ECUMENICAL CHURCHES ASSOCIATION PURPOSE: ENVIRONMENTAL | $1,000 |
LINCOLN MEMORIAL PUBLIC LIBRARY PURPOSE: ENVIRONMENTAL | $1,000 |