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Nonprofiteer
← MARTHAS VINEYARD COMMUNITY FOUNDATION INC

Form 990 for tax year 2023

Filed by MARTHAS VINEYARD COMMUNITY FOUNDATION INC.

Totals

Total revenue
$2,778,189
Total expenses
$3,339,196
Contributions and grants received
$2,487,126
Grants paid
$2,246,310
Program service revenue
$0
Investment income
$286,823
Other revenue
$4,240
Total assets, end of year
$15,100,827
Total liabilities, end of year
$571,682
Net assets or fund balances, end of year
$14,529,145
Program services expenses (Part IX)
$2,726,773
Management and general expenses
$588,302
Fundraising expenses
$24,121
Program service expenses (Part III)
$2,726,773

Program services were 81.7% 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.

  • 1e · Government grants (contributions)

    $1,349,892

  • 1f · All other contributions, gifts and grants

    $1,137,234

  • 1g · Noncash contributions included above

    $79,936

  • 3 · Investment income

    total $340,955 · excluded $340,955

  • 7a · Gross sales of assets other than inventory

    securities $3,800,386

  • 7b · Less cost or other basis and sales expenses

    securities $3,854,518

  • 7c · Gain or loss

    securities -$54,132

  • 7d · Net gain or loss

    total -$54,132 · excluded -$54,132

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $4,240 · excluded $4,240

  • 11e · Other revenue, total

    $4,240

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,909,860 · program services $1,909,860

  • 2 · Grants to domestic individuals

    total $336,450 · program services $336,450

  • 5 · Compensation of officers, directors and key employees

    total $171,787 · management and general $171,787

  • 7 · Other salaries and wages

    total $164,804 · management and general $164,804

  • 9 · Other employee benefits

    total $8,749 · management and general $8,749

  • 10 · Payroll taxes

    total $35,303 · management and general $35,303

  • 11b · Fees: legal

    total $2,878 · management and general $2,878

  • 11c · Fees: accounting

    total $55,014 · management and general $55,014

  • 11d · Fees: lobbying

    total $90,000 · program services $90,000

  • 11f · Fees: investment management

    total $55,158 · management and general $55,158

  • 11g · Fees: other

    total $13,750 · management and general $13,750

  • 13 · Office expenses

    total $17,520 · management and general $17,520

  • 14 · Information technology

    total $23,038 · management and general $23,038

  • 16 · Occupancy

    total $24,858 · management and general $24,858

  • 17 · Travel

    total $180 · fundraising $180

  • 19 · Conferences, conventions and meetings

    total $3,950 · management and general $3,950

  • 22 · Depreciation, depletion and amortization

    total $3,471 · management and general $3,471

  • 23 · Insurance

    total $8,022 · management and general $8,022

  • 24a · Other expenses: PROJECT COSTS

    total $390,463 · program services $390,463

  • 24b · Other expenses: OTHER DEVELOPMENT EXPENSE

    total $15,241 · fundraising $15,241

  • 24c · Other expenses: NEWSLETTER/ANNUAL REPORT

    total $8,700 · fundraising $8,700

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $466,084 · end of year $462,354

  • 3 · Pledges and grants receivable

    beginning of year $100,602 · end of year $113,372

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,325 · end of year $4,019

  • 10a · Land, buildings and equipment: cost or other basis

    $33,805

  • 10b · Land, buildings and equipment: accumulated depreciation

    $24,884

  • 10c · Land, buildings and equipment, net

    beginning of year $12,393 · end of year $8,921

  • 11 · Investments: publicly traded securities

    beginning of year $13,486,937 · end of year $14,429,057

  • 15 · Other assets

    beginning of year $97,816 · end of year $83,104

  • 17 · Accounts payable and accrued expenses

    beginning of year $115,588 · end of year $155,402

  • 18 · Grants payable

    beginning of year $130,031 · end of year $42,016

  • 25 · Other liabilities

    beginning of year $325,718 · end of year $374,264

  • 27 · Net assets without donor restrictions

    beginning of year $6,604,600 · end of year $6,927,587

  • 28 · Net assets with donor restrictions

    beginning of year $6,990,220 · end of year $7,601,558

Mission and programs · 2023

Mission

THE MARTHA'S VINEYARD COMMUNITY FOUNDATION, INC., SUCCESSOR TO THE PERMANENT ENDOWMENT FUND FOR MARTHA'S VINEYARD, THE ISLAND'S COMMUNITY FOUNDATION, PUTS CHARITABLE CONTRIBUTIONS TO WORK FOR THE PEOPLE OF MARTHA'S VINEYARD BY MAKING GRANTS THAT ADDRESS COMMUNITY NEEDS, FUNDING SCHOLARSHIPS FOR ISLAND STUDENTS, AND BUDILING AN ENDOWMENT TO PROVIDE THE RESORUCES TO ENHANCE AND PRESERVE THE QUALITY OF LIFE ON THE VINEYARD FOREVER.

  • PUTTING CONTRIBUTIONS TO WORK FOR THE BENEFIT OF THE MARTHA'S VINEYARD COMMUNITY THROUGH GRANTS TO ISLAND NON-PROFIT ORGANIZATIONS AND SCHOLARSHIPS TO MARTHA'S VINEYARD STUDENTS.

    Expenses $2,726,773 · Grants $2,246,310

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Paul Schulz

    EXECUTIVE DI

    Total calculated
    $130,000
    From this org
    $125,000
    From related orgs
    $0
    Other
    $5,000
    Hours/week
    40

  • Emily Bramhall

    FRMR EXECUTI

    Total calculated
    $41,877
    From this org
    $41,460
    From related orgs
    $0
    Other
    $417
    Hours/week
    0

  • Ollie Becker

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Carol Biondi

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Christopher Celeste

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Julie Fay

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    5

  • Arielle Faria

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Isabelle Lew

    CLERK

    Total calculated
    $0
    Hours/week
    5

  • Luiza Mouzinho

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Ellen Pesch

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Lisa Reagan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Mitch Rubin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Alec Walsh

    CHAIR

    Total calculated
    $0
    Hours/week
    5

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
2023
Filed
23 July 2024
IRS schema version
2023v5.0
Source object
202412419349301106

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

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