Marthas Vineyard Community Foundation Inc
- Assets
- $15.1m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 7
- Location
- West Tisbury, MA
- Founding
- 08/2019
- Data as of
- 12/2023
- EIN
- 84-2084322
Organization Overview
Marthas Vineyard Community Foundation Inc, operating under the name Permanent Endowment Fund For, is located in West Tisbury, MA. The organization was established in 2019. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2023, Permanent Endowment Fund For employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Permanent Endowment Fund For 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, Permanent Endowment Fund For generated $2.8m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 11.7% each year . All expenses for the organization totaled $3.3m during the year ending 12/2023. While expenses have increased by 17.4% 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.
Since 2020, Permanent Endowment Fund For has awarded 128 individual grants totaling $5,316,455. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MARTHA'S VINEYARD COMMUNITY FOUNDATION, INC., SUCCESSOR TO THE PERMANENT ENDOWMENT FUND FOR MARTHA'S VINEYARD, THE ISLAND'S COMMUNITY FOUNDATION, PUTS CHARITABLE CONTRIBUTIONS TO WORK FOR THE PEOPLE OF MARTHA'S VINEYARD BY MAKING GRANTS THAT ADDRESS COMMUNITY NEEDS, FUNDING SCHOLARSHIPS FOR ISLAND STUDENTS, AND BUDILING AN ENDOWMENT TO PROVIDE THE RESORUCES TO ENHANCE AND PRESERVE THE QUALITY OF LIFE ON THE VINEYARD FOREVER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PUTTING CONTRIBUTIONS TO WORK FOR THE BENEFIT OF THE MARTHA'S VINEYARD COMMUNITY THROUGH GRANTS TO ISLAND NON-PROFIT ORGANIZATIONS AND SCHOLARSHIPS TO MARTHA'S VINEYARD STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Schulz Executive Di | Officer | 40 | $125,000 |
Emily Bramhall Frmr Executi | Officer | 0 | $41,460 |
Ollie Becker Director | Trustee | 5 | $0 |
Carol Biondi Director | Trustee | 5 | $0 |
Christopher Celeste Director | Trustee | 5 | $0 |
Julie Fay Vice-Chair | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,349,892 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,137,234 |
| Noncash contributions included in lines 1a–1f | $79,936 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,487,126 |
| Total Program Service Revenue | $0 |
| Investment income | $340,955 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$54,132 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,778,189 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,909,860 |
| Grants and other assistance to domestic individuals. | $336,450 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $171,787 |
| Compensation of current officers, directors, key employees. | $171,787 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $164,804 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $8,749 |
| Payroll taxes | $35,303 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,878 |
| Fees for services: Accounting | $55,014 |
| Fees for services: Lobbying | $90,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $55,158 |
| Fees for services: Other | $13,750 |
| Advertising and promotion | $0 |
| Office expenses | $17,520 |
| Information technology | $23,038 |
| Royalties | $0 |
| Occupancy | $24,858 |
| Travel | $180 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,950 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,471 |
| Insurance | $8,022 |
| All other expenses | $0 |
| Total functional expenses | $3,339,196 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $462,354 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $113,372 |
| Accounts receivable, net | $0 |
| 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 | $4,019 |
| Net Land, buildings, and equipment | $8,921 |
| Investments—publicly traded securities | $14,429,057 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $83,104 |
| Total assets | $15,100,827 |
| Accounts payable and accrued expenses | $155,402 |
| Grants payable | $42,016 |
| 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 | $374,264 |
| Total liabilities | $571,682 |
| Net assets without donor restrictions | $6,927,587 |
| Net assets with donor restrictions | $7,601,558 |
| 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 | $15,100,827 |
Grants Awarded
Over the last fiscal year, Marthas Vineyard Community Foundation Inc has awarded $1,909,840 in support to 38 organizations.
| Grant Recipient | Amount |
|---|---|
CAMP JABBERWOCKY PURPOSE: PROJECT SUPPORT | $10,000 |
CHILMARK POND FOUNDATION PURPOSE: PROJECT SUPPORT | $117,993 |
CIRCUIT ARTS PURPOSE: PROJECT SUPPORT | $10,000 |
COMMUNITY ACTION COMMITTEE OF CAPE& ISLANDS PURPOSE: PROJECT SUPPORT | $20,000 |
DUKES COUNTY REGIONAL HOUSINGAUTHORITY PURPOSE: PROJECT SUPPORT | $10,000 |
FIRST CONGREGATIONAL CHURCH OFWEST TISBURY PURPOSE: PROJECT SUPPORT | $34,000 |