Inverness Foundation 15 Park Ave
- Assets
- $1.1m
- Revenue
- $44.8k
- Investments
- $0.0
- Employees
- 1
- Location
- Inverness, CA
- Founding
- 05/1966
- Data as of
- 06/2023
- EIN
- 94-6128974
Organization Overview
Inverness Foundation 15 Park Ave is located in Inverness, CA. The organization was established in 1966. According to its NTEE Classification (C30) the organization is classified as: Natural Resources Conservation & Protection, under the broad grouping of Environment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Inverness Foundation 15 Park Ave 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 06/2023, Inverness Foundation 15 Park Ave generated $44.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (11.7%) each year. All expenses for the organization totaled $34.3k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (3.7%) per year over the past 7 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
MAINTAIN AND PRESERVE INVERNESS, MARIN COUNTY, CALIFORNIA
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN THIS TAX YEAR, THE INVERNESS FOUNDATION CONTINUED TO PERFORM MAINTENANCE ON ITS ICONIC AND HISTORIC BUILDING, THE GABLES, WHICH HOUSES THE MARIN COUNTY PUBLIC LIBRARY AND THE JACK MASON MUSEUM OF WEST MARIN HISTORY.THERE WAS SIGNIFICANT STORM DAMAGE TO THE PROPERTY SURROUNDING THE GABLES, WHICH REQUIRED EXPENDITURES RELATED TO TREE REMOVAL, FENCE REPAIR, AND SIMILAR ACTIVITIES. OTHER TREE TRIMMING ACTIVITIES WERE UNDERTAKEN TO REDUCE FIRE HAZARDS AROUND THE GABLES. IN ADDITION, THE INVERNESS FOUNDATION CONTINUED ITS WORK MAINTAINING THE MANY TRAILS THAT THE PUBLIC USES TO GET TO BEACHES, THE POST OFFICE AND HIKING TRAILS. ONE OF OUR PARCELS GOT ATTENTION IN CLEANUPS AND DEFENSIBLE SPACE WORK AS WELL. THE JACK MASON MUSEUM OF WEST MARIN HISTORY (A COMMITTEE OF THE IF) MOUNTED MORE EXHIBITS IN THE TAX YEAR, INCLUDING ONE RELATED TO THE HISTORY OF THE INVERNESS PUBLIC UTILITY DISTRICT. THE INVERNESS FOUNDATION MADE SEVERAL DONATIONS TO NONPROFIT ORGANIZATIONS, INCLUDING THE ORGANIZATION THAT PUTS ON AN ANNUAL SHAKESPEARE OUTDOOR THEATRE PRODUCTION. LIKEWISE, THE LOCAL AA GROUP CONTINUES MEETING IN THE LIBRARY LATE IN THE YEAR ON SUNDAY MORNINGS. THE INVERNESS FOUNDATION HAS HELD BOARD MEETINGS IN THE MEETING ROOM, BUT WE HAVE ALSO ACCOMMODATED DIRECTORS AND INVERNESS FOUNDATION MEMBERS WHO MAY LIVE OUT-OF-TOWN WITH AN ALTERNATIVE ZOOM MEETING OPTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Angela Whitney Director | Trustee | 1 | $0 |
William Barrett Vice President | Trustee | 1 | $0 |
Tom Gaman Director | Trustee | 5 | $0 |
Kathy Hartzell President | Trustee | 10 | $0 |
Catherine Caulfield Vice President | Trustee | 5 | $0 |
John Longstreth Treasurer | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $14,666 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $21,863 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $36,529 |
| Total Program Service Revenue | $2,065 |
| Investment income | $7,569 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$1,335 |
| 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 | $44,828 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $9,750 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,065 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,500 |
| Advertising and promotion | $1,050 |
| Office expenses | $0 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,059 |
| All other expenses | $5,006 |
| Total functional expenses | $34,318 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $52,216 |
| Savings and temporary cash investments | $124,206 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,773 |
| 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 | $646,645 |
| Investments—publicly traded securities | $279,858 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1 |
| Total assets | $1,104,699 |
| Accounts payable and accrued expenses | $9,750 |
| 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 | $9,750 |
| Net assets without donor restrictions | $323,084 |
| Net assets with donor restrictions | $771,865 |
| 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 | $1,104,699 |
Grants Awarded
Over the last fiscal year, Inverness Foundation 15 Park Ave has awarded $910,222 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
COMMUNITY LAND TRUST ASSOCAIT | | | $900,000 |
INVERNESS YACHT CLUB PURPOSE: SUPPORT AND PRESERVE INVERNESS | $10,222 |