Cobscook Shores Inc
- Assets
- $13.0m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Great Neck, NY
- Founding
- 07/2019
- Data as of
- 12/2021
- 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 12/2021, Cobscook Shores Inc generated $2.3m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 26.0% each year . All expenses for the organization totaled $1.3m during the year ending 12/2021. 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
2021
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 Controller | 5 | $0 | |
Gilbert Butler President/treasurer/director | 10 | $0 | |
Dan Pittman Secretary | 0.5 | $0 | |
Anthony Grassi Director | 1 | $0 | |
Carl Carlson Executive Director | 12 | $0 | |
Jared Belfer Project Accountant | 10 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Carver Construction Inc | 12/30/21 | $221,045 |
Randy Hall | 12/30/21 | $145,146 |
Spencer Construction Llp | 12/30/21 | $173,806 |
Butler Conservation Inc | 12/30/21 | $86,164 |
Bear And Owl Tree Care | 12/30/21 | $172,887 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,021,500 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $318,685 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $2,340,185 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $15,872 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $108,882 |
| Printing and publications | $0 |
| Other expenses | $192,230 |
| Total operating and administrative expenses | $476,366 |
| Contributions, gifts, grants paid | $831,837 |
| Total expenses and disbursements | $1,308,203 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $307,281 |
| 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 | $12,642,909 |
| Other assets | $0 |
| Total assets | $12,950,190 |
| Accounts payable and accrued expenses | $48,192 |
| 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 | $48,192 |
Grants Awarded
Over the last fiscal year, Cobscook Shores Inc has awarded $831,837 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Great Neck, NY PURPOSE: GENERAL CONTRIBUTION | $812,438 |
THE TOWN OF LUBEC PURPOSE: GENERAL CONTRIBUTION | $17,000 |
LUBEC FIRE ASSOCIATION PURPOSE: GENERAL CONTRIBUTION | $2,399 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Cobscook Shores Inc has recieved totaling $2,021,500.
| Awarding Organization | Amount |
|---|---|
Butler Conservation Fund Inc Great Neck, NY PURPOSE: ENVIRONMENTAL | $2,021,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John R Oishei Foundation Buffalo, NY | $294,151,477 | $18,357,929 |
Lor Foundation Inc West Chester, PA | $352,392,197 | $12,888,892 |
Grable Foundation Pittsburgh, PA | $386,701,292 | $35,946,563 |
Connelly Foundation West Conshohocken, PA | $387,913,026 | $27,891,431 |
American Express Foundation New York, NY | $66,234,265 | $62,922,703 |
Essel Foundation Inc Purchase, NY | $100,106,056 | $12,292,478 |
Beth And Ravenel Curry Foundation New York, NY | $0 | $44,744,046 |
Kz Family Foundation New York, NY | $10,936,301 | $30,139,672 |
The Freeman Foundation P-01644-00-7 New York, NY | $343,405,683 | $35,941,951 |
Hearst Foundation Inc New York, NY | $439,249,947 | $42,040,987 |
Tansy Charitable Foundation New York, NY | $325,076,608 | $77,631,295 |
Gordon & Llura Gund Foundation Princeton, NJ | $18,024,465 | $6,191,436 |