Beacon Foundation
- Assets
- $4.2m
- Revenue
- $807.6k
- Investments
- $3.9m
- Employees
- 0
- Location
- Warwick, RI
- Founding
- Data as of
- 12/2023
- EIN
- 85-4065871
Organization Overview
Beacon Foundation is located in Warwick, RI. According to its NTEE Classification (P12) the organization is classified as: Fund Raising & Fund Distribution, 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. Beacon Foundation 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, Beacon Foundation generated $807.6k 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 (24.6%) each year.
Since 2021, Beacon Foundation has awarded 226 individual grants totaling $373,963. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHARITABLE GIVING AND GRANT MAKING TO 501(C)(3) ORGANIZATIONS. THE FOUNDATION SUPPORTED 87 ORGANIZATIONS DURING THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian J Spero President, CEO & Director | 1 | $0 | |
Amy C Vitale Vice President, Secretary & Director | 1 | $0 | |
Gregg C Tumeinski CFO & Treasurer | 1 | $0 | |
Pamela L Alarie Director (to Feb '23) | 1 | $0 | |
Shannon Broadbent Director (from Feb '23) | 1 | $0 | |
Rajani Mahadevan Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $750,000 |
| Interest on Savings | $6,861 |
| Dividends & Interest | $69,998 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$19,253 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $807,606 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,561 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,383 |
| Total operating and administrative expenses | $23,471 |
| Contributions, gifts, grants paid | $153,650 |
| Total expenses and disbursements | $177,121 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $47,986 |
| Savings and temporary cash investments | $157,984 |
| 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 | $0 |
| Other assets | $19,553 |
| Total assets | $4,160,164 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
Grants Awarded
Over the last fiscal year, Beacon Foundation has awarded $153,650 in support to 87 organizations.
| Grant Recipient | Amount |
|---|---|
A WISH COME TRUE INC PURPOSE: GENERAL SUPPORT | $1,200 |
ALS ASSOCIATION RHODE ISLAND CHAPTER PURPOSE: GENERAL SUPPORT | $1,025 |
AMEGO INC PURPOSE: GENERAL SUPPORT | $1,000 |
AMENITY AID PURPOSE: GENERAL SUPPORT | $1,500 |
AMERICAN CANCER SOCIETY INC PURPOSE: GENERAL SUPPORT | $1,125 |
AMOS HOUSE PURPOSE: GENERAL SUPPORT | $800 |