Friends Of Bay Street And Sag Harbor Redevelopment Inc
- Assets
- $15.9m
- Revenue
- $50.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Riverside, CT
- Founding
- Data as of
- 06/2022
- EIN
- 85-2656502
Organization Overview
Friends Of Bay Street And Sag Harbor Redevelopment Inc is located in Riverside, CT. According to its NTEE Classification (A61) the organization is classified as: Performing Arts Centers, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends Of Bay Street And Sag Harbor Redevelopment 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 06/2022, Friends Of Bay Street And Sag Harbor Redevelopment Inc generated $50.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (60.8%) each year. All expenses for the organization totaled $80.3k during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
FRIENDS OF BAY STREET AND SAG HARBOR REDEVELOPMENT, INC. IS ORGANIZED FOR THE PURPOSES WHICH ARE EXCLOSIVELY CHARITABLE, EDUCATIONAL, SCIENTIFIC, RELIGIOUS AND LITERARY WITHIN THE MEANING OF SECTION 501(C)(3) OF THE IRC OF 1986. THE CHARITY WILL PRIMARILY ACCOMPLISH THESE PURPOSES BY ACQUIRING REAL PROPERTY ON THE EASTEN END OF LONG ISLAND, NEW YORK AND DEVELOPING THE REAL PROPERTY BY BUILDING A THEATER ON THE PROPERTY TO BE DEDICATED TO AND TO SUPPORT AND PRESERVE THE PERFORMING ARTS COMMUNITY IN THE AREA. SPECIFICALLY, ONCE THE PROPERTY HAS BEEN ACQUIRED AND THE THEATER CONSTRUCTED, THE THEATER WILL BE USED BY BAY STREET THEATER FESTIVAL, INC., A NONPROFIT PERFORMING ARTS ORGANIZATION. BY DOING SO, THE CHARITY WILL PROVIDE THE LOCAL COMMUNITY WITH ACCESS TO INNOVATIVE, EMERGING, CHALLENGING AND CLASSIC THEATER AND PERFORMING ARTS. THE CHARITY'S OTHER ACTIVITY WILL BE TO RAISE FUNDS TO SUPPORT THE PROJECT THROUGH CAPITAL CAMPAIGN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACQUIRING REAL PROPERTY ON THE EASTERN END OF LONG ISLAND, NY AND DEVELOPING THE REAL PROPERTY BY BUILDING A THEATER ON THE PROPERTY TO BE DEDICATED TO AND TO SUPPORT AND PRESERVE THE PERFORMING ARTS COMMUNITY IN THE AREA.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Adam Potter President | OfficerTrustee | 20 | $0 |
Ralph Heins Director | OfficerTrustee | 1 | $0 |
Ann Cutbill Lenane Secretary | 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 | $50,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $50,000 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $50,111 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $60,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $180 |
| Fees for services: Accounting | $8,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,000 |
| Advertising and promotion | $0 |
| Office expenses | $549 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $17 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,497 |
| All other expenses | $0 |
| Total functional expenses | $80,268 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,199,963 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $30,000 |
| 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 | $14,687,836 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $15,917,799 |
| 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 | $15,272,553 |
| Unsecured mortgages and notes payable | $500,000 |
| Other liabilities | $0 |
| Total liabilities | $15,772,553 |
| Net assets without donor restrictions | $145,246 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $15,917,799 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Friends Of Bay Street And Sag Harbor Redevelopment Inc has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
Stephen And Carole Schwartz Foundation Inc New York, NY PURPOSE: AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Rochester Broadway Theatre League Inc Rochester, NY | $14,097,725 | $11,757,109 |
Celebrity Series Of Boston Boston, MA | $21,295,635 | $11,486,131 |
Arts Center And Theater Of Schenectady Inc Schenectady, NY | $59,537,808 | $17,534,824 |
Saratoga Springs Performing Arts Center Inc Saratoga Springs, NY | $31,890,328 | $10,810,263 |
Tremont Theatre Inc Boston, MA | $4,028,653 | $4,834,729 |
Stamford Center For The Arts Inc Stamford, CT | $18,714,807 | $7,026,118 |
Palace Theater Group Inc Waterbury, CT | $7,137,767 | $7,444,031 |
Symphony Space Inc New York, NY | $23,080,716 | $5,038,783 |
Cabot Performing Arts Center Inc Beverly, MA | $9,302,777 | $5,349,464 |
Boston Center For The Arts Inc Boston, MA | $29,580,802 | $3,268,105 |
Sheas Oconnel Preservation Guild Ltd Buffalo, NY | $23,711,846 | $2,193,834 |
The Wang Center For The Performing Arts Inc Boston, MA | $34,395,056 | $6,359,659 |