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Nonprofiteer
← ADMIRALS COVE FOUNDATION INC

Form 990 for tax year 2022

Filed by ADMIRALS COVE FOUNDATION INC.

Totals

Total revenue
$3,228,168
Total expenses
$2,947,841
Contributions and grants received
$2,887,358
Grants paid
$2,779,951
Program service revenue
$0
Investment income
$0
Other revenue
$340,810
Total assets, end of year
$769,600
Total liabilities, end of year
$131,290
Net assets or fund balances, end of year
$638,310
Program services expenses (Part IX)
$2,859,109
Management and general expenses
$41,557
Fundraising expenses
$47,175
Program service expenses (Part III)
$2,859,109

Program services were 97.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $2,887,358

  • 1g · Noncash contributions included above

    $30,000

  • 8a · Fundraising events: gross income

    $395,682

  • 8b · Fundraising events: direct expenses

    $54,872

  • 8c · Net income from fundraising events

    total $340,810

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,779,951 · program services $2,779,951

  • 7 · Other salaries and wages

    total $108,501 · program services $65,101 · management and general $10,850 · fundraising $32,550

  • 10 · Payroll taxes

    total $8,296 · program services $4,977 · management and general $830 · fundraising $2,489

  • 11c · Fees: accounting

    total $4,900 · management and general $4,900

  • 11g · Fees: other

    total $80 · program services $80

  • 14 · Information technology

    total $1,810 · management and general $1,810

  • 23 · Insurance

    total $928 · management and general $928

  • 24a · Other expenses: DONATED SERVICES

    total $15,000 · management and general $15,000

  • 24b · Other expenses: DONATED USE OF FACILITIES

    total $15,000 · program services $9,000 · management and general $1,500 · fundraising $4,500

  • 24c · Other expenses: MARKETING AND PROMOTION

    total $7,636 · fundraising $7,636

  • 24d · Other expenses: POSTAGE & MAILING

    total $2,698 · management and general $2,698

  • 24e · All other expenses

    total $3,041 · management and general $3,041

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $471,796 · end of year $769,600

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,676 · end of year $26,815

  • 18 · Grants payable

    beginning of year $106,137 · end of year $104,475

  • 27 · Net assets without donor restrictions

    beginning of year $357,983 · end of year $638,310

Mission and programs · 2022

Mission

ADMIRALS COVE FOUNDATION IS THE COMMUNITY PHILANTHROPIC FOUNDATION OF THE RESIDENTS OF THE CLUB AT ADMIRALS COVE. OUR MISSION IS TO IMPROVE LIVES THROUGH A VITAL CULTURE OF GIVING. WE FOCUS ON THE MOST NEEDY IN PALM BEACH COUNTY BY SUPPORTING LOCAL NONPROFIT ORGANIZATIONS.

  • ADMIRALS COVE FOUNDATION PHILANTHROPIC EFFORTS ARE MADE POSSIBLE BY THE GENEROUS SUPPORT OF OUR MEMBERS DURING OUR ANNUAL GIVING CAMPAIGN. THE FOUNDATION'S GRANTS ARE FOCUSED EXCLUSIVELY IN PALM BEACH COUNTY IN THE AREAS OF EDUCATION, HEALTH, AND SOCIAL SERVICES. THE FOUNDATION AND ITS VOLUNTEER COMMITTEES WORK ALONGSIDE A VARIETY OF ORGANIZATIONS THAT MAKE A MEANINGFUL IMPACT IN THE LIVES OF INDIVIDUALS AND FAMILIES IN PALM BEACH COUNTY.

    Expenses $2,859,109 · Grants $2,779,951

  • DONOR-DIRECTED DONATIONS

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Eric Becker

    PRESIDENT

    Total calculated
    $0

  • Suzanne Carroll

    VICE PRESIDE

    Total calculated
    $0

  • Margot Lessans

    SECRETARY

    Total calculated
    $0

  • Jill Riehl

    TREASURER

    Total calculated
    $0

  • Charles Ezrine

    ASSISTANT TR

    Total calculated
    $0

  • Andy Kahn

    DIRECTOR

    Total calculated
    $0

  • Joe McCart

    DIRECTOR

    Total calculated
    $0

  • Erica Scherzer

    DIRECTOR

    Total calculated
    $0

  • Larry Altman

    DIRECTOR

    Total calculated
    $0

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2022
Filed
7 July 2023
IRS schema version
2022v5.0
Source object
202342099349301759

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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