SAG HARBOR PARTNERSHIP INC

EIN: 454940725 501(c)(3) Arts, Culture & Humanities

SAG HARBOR, NY

Total Revenue
$180,180
Total Expenses
$2,455,734
Total Assets
$361,502
Net Assets
$360,768
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2011
Legal Domicile
NY
Principal Officer
SUSAN MEAD
Phone
2129535926
Tax Period
2024-01-01 to 2024-12-31

SAG HARBOR PARTNERSHIP INC, founded in 2011, is a small nonprofit in the Arts, Culture & Humanities sector that reported $180K in total revenue in fiscal year 2024. Revenue fell 83% from the prior year — a significant decline worth monitoring. Expenses of $2.5M exceeded revenue, resulting in a 1263% operating deficit.

Mission

THE SAG HARBOR PARTNERSHIP, INC ("ORGANIZATION") WAS FORMED FOR THE PURPOSE OF PRESERVING THE TRADITIONS, ARCHITECTURE AND THE APPEARANCE OF THE VILLAGE OF SAG HARBOR, INCLUDING (A) PROVIDING EDUCATION AND INFORMATION TO THE CITIZENS OF SAG HARBOR TO FOSTER THE PRESERVATION OF THE HISTORIC MAIN STREET IN SAG HARBOR; (B) FACILITATING THE PROTECTION OF HISTORIC BUILDINGS AND BUSINESSES BY PROVIDING RESOURCES AND SPEAKERS TO EDUCATION THE PUBLIC ON PRESERVATION EFFORTS; (C) BUILDING AND SUPPORTING A COMMUNITY OF EDUCATORS DEDICATED TO THE SOCIAL, CULTURAL AND ENVIRONMENTAL AESTHETICS OF THE VILLAGE; AND (D) OTHER ACTIVITIES, INCLUDING DEVELOPING AND DISSEMINATING LAND USE PLANS ON MATTERS USEFUL TO GOVERNMENTAL ENTITIES AND BENEFICIAL TO COMMUNITY ACTIVITIES, AS WELL THE STRATEGIC ACQUISITION, OCCASIONAL RESTORATION OF HISTORICALLY OR ARCHITECTURALLY SIGNIFICANT PROPERTIES AND DISPOSITION OF THOSE PROPERTY WHICH WILL BE SUBJECT TO RESTRICTIVE COVENANTS. THE PURPOSE OF THESE COVENANTS IS T

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $174,531
Program Service Revenue $1,000
Investment Income $4,649
Other Revenue $0
TOTAL REVENUE $180,180

Expense Breakdown

Grants Paid $2,353,163
Salaries & Benefits $42,153
Fundraising Expenses $14,715
Program Expenses $2,401,161
Other Expenses $60,418
TOTAL EXPENSES $2,455,734

Year-over-Year Comparison

2024 2023 Change
Revenue $180,180 $1,059,975 -0.8%
Expenses $2,455,734 $208,043 +10.8%
Net Income $-2,275,554 $851,932 -3.7%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
12
Independent Members
12
Employees
2
Volunteers
12

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$0
Total Directors
12
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KAREN ARRIGONI DIRECTOR 5.00
Director
$0 $0 $0
APRIL GORNIK DIRECTOR 1.00
Director
$0 $0 $0
DIANA HOWARD DIRECTOR 1.00
Director
$0 $0 $0
CHRIS KANN DIRECTOR 1.00
Director
$0 $0 $0
SUSAN LACY DIRECTOR 1.00
Director
$0 $0 $0
HILARY LOOMIS DIRECTOR 1.00
Director
$0 $0 $0
SUSAN MEAD CO-PRESIDENT 5.00
Officer Director
$0 $0 $0
CAROL OSTROW DIRECTOR 1.50
Director
$0 $0 $0
HERB SAMBOL DIRECTOR 1.00
Director
$0 $0 $0
RENEE VH SIMONS TREASURER 2.00
Officer Director
$0 $0 $0
SUSAN SPROTT SECRETARY 2.00
Officer Director
$0 $0 $0
JAYNE YOUNG CO-PRESIDENT 4.00
Officer Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $180,180 $2,455,734 $361,502 $-2,275,554
2023 $1,059,975 $208,043 $3,408,959 $851,932
2022 $1,710,615 $328,244 $1,800,810 $1,382,371
2021 $435,140 $394,746 $416,259 $40,394
2020 $441,437 $622,558 $414,310 $-181,121
2019 $490,016 $12,003,956 $604,030 $-11,513,940
2018 $5,519,534 $1,004,122 $12,158,268 $4,515,412
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