Recompense Fund
- Assets
- $1.3m
- Revenue
- $274.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Chebeague Island, ME
- Founding
- Data as of
- 12/2023
- EIN
- 84-4249483
Organization Overview
Recompense Fund is located in Chebeague Island, ME. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Recompense Fund 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, Recompense Fund generated $274.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (25.8%) each year. All expenses for the organization totaled $101.1k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Recompense Fund has awarded 19 individual grants totaling $188,845. 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
TO SUPPORT CHARITABLE AND COMMUNITY ORGANIZATIONS ON CHEBEAGUE ISLAND, ME
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHEBEAGUE RECREATION CENTER
CHEBEAUGUE ISLAND HALL COMMUNITY CENTER
CHEBEAGUE ISLAND COMMONS RESOURCE CENTER
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Beverly Johnson President | OfficerTrustee | 3 | $0 |
Scott Searway Vice President | OfficerTrustee | 2 | $0 |
Elaine Clark Secretary | OfficerTrustee | 2 | $0 |
James Van Fleet Treasurer | OfficerTrustee | 2 | $0 |
Leila Bisharat Member | Trustee | 1 | $0 |
Justin Doughty Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $176,120 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $176,120 |
| Total Program Service Revenue | $0 |
| Investment income | $7,196 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $91,377 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $274,693 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $69,800 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $8,747 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,050 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $10,666 |
| Fees for services: Other | $417 |
| Advertising and promotion | $685 |
| Office expenses | $570 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $299 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $635 |
| All other expenses | $259 |
| Total functional expenses | $101,148 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $159,975 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,138,491 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,298,466 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $1,298,466 |
| Total liabilities and net assets/fund balances | $1,298,466 |
Grants Awarded
Over the last fiscal year, Recompense Fund has awarded $57,600 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
CHEBEAGUE ISLAND HISTORICAL SOCIETY PURPOSE: DEVELOP AN EXHIBIT OFFERING OVERVIEW OF ISLAND'S HSTORY | $7,000 |
ISLAND COMMONS RESOURCE CENTER PURPOSE: INSTALL A HEAT PUMP SYSTEM | $7,600 |
CHEBEAGUE ISLAND REC CENTER PURPOSE: PART-TIME PROGRAMMING DIRECTOR, HEALTH INSURANCE BENEFIT FOR STAFF | $21,600 |
CHEBEAGUE ISLAND COMMUNITY ASSOCIATION PURPOSE: SUPPORT LAND DEVELOPMENT COSTS FOR FUTURE ACCESSIBLE HOUSING PROJECTS | $6,000 |
CHEBEAGUE ISLAND HALL COMMUNITY CENTER PURPOSE: SOUND SYSTEM EQUIPMENT | $8,400 |
CHEBEAGUE ISLAND LIBRARY PURPOSE: UPGRADE WEBSITE | $7,000 |