BOWSPRIT FOUNDATION

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2019

Principal Officer

FRANK PITCHER

Phone

2078120632

Tax Period

2023-01-01 to 2023-12-31

BOWSPRIT FOUNDATION, founded in 2019, is a small nonprofit in the Education sector that reported $272K in total revenue in fiscal year 2023. The organization ran a surplus of $216K, a strong 79% operating margin.

Mission

CREATING OPPORTUNITIES FOR YOUTH-IN-NEED TO GAIN PRACTICAL-SKILLS EXPERIENCE IN AGRICULTURE, FORESTRY, FOOD PREPARATION, AND TRADITIONAL CRAFTS. INSPIRED BY RUDOLF STEINER'S PEDAGOGY, OUR PROGRAMS AIM TO ASSIST YOUNG ADULTS IN DEVELOPING SKILLS FOR INDEPENDENCE, A CAPACITY TO CONTRIBUTE TO THE COMMUNITY, AND A SENSE OF SELF-WORTH AND HOPEFULNESS FOR THEIR FUTURE.

Program Service Accomplishments

Program 1

Expenses: $53,009

OVER THREE YEARS OF PROGRAMMING, BOWSPRIT HAS PROVIDED SIX FULLY FUNDED PILOT PROGRAMS TO LOCAL YOUTH; IN THE SPRING, SUMMER, AND FALL. WE HAVE WORKED PRIMARILY WITH THE ECOLOGY LEARNING CENTER...

OVER THREE YEARS OF PROGRAMMING, BOWSPRIT HAS PROVIDED SIX FULLY FUNDED PILOT PROGRAMS TO LOCAL YOUTH; IN THE SPRING, SUMMER, AND FALL. WE HAVE WORKED PRIMARILY WITH THE ECOLOGY LEARNING CENTER (CHARTER SCHOOL IN UNITY) TO PROVIDE OPPORTUNITIES FOR THEIR HS STUDENTS AS WELL AS FOR SOME OF THEIR BRIDGE PROGRAM STUDENTS TO PARTICIPATE IN THOSE TWO WEEK MODULES. IN 2023 WE BEGAN A WORKING RELATIONSHIP WITH THE STETSON RANCH RESIDENTIAL SCHOOL IN STETSON ME WHOSE STAFF ACCOMPANIED THEIR COHORT OF STUDENTS (VARIOUSLY 4-5 EACH TIME), AS WELL AS OTHER INDIVIDUALS FROM THE COMMUNITY AND ONE FROM NEW JERSEY WITH FAMILY IN MAINE, WITH DEVELOPMENTAL CHALLENGES.

Program 2

ONGOING, BOWSPRIT WORKED ON A REGULAR BASIS WITH STUDENTS FROM THE ECOLOGY LEARNING CENTER TO PROVIDE FURTHER OPPORTUNITIES THROUGH THEIR OWN COMMUNITY ENGAGEMENT PROGRAM. TO DATE: HAVING BUILT A...

ONGOING, BOWSPRIT WORKED ON A REGULAR BASIS WITH STUDENTS FROM THE ECOLOGY LEARNING CENTER TO PROVIDE FURTHER OPPORTUNITIES THROUGH THEIR OWN COMMUNITY ENGAGEMENT PROGRAM. TO DATE: HAVING BUILT A MODEST TIMBER FRAME STRUCTURE AS COVER FOR THE COB OVEN, AND A DECK-BRIDGE OVER A WATER DITCH CONNECTING BARN TO FIELD; HAVING CONDUCTED GENERAL FARM CLEANUP (OLD FARM, NEW OWNERS); HAVING HARVESTED CROPS FROM THE BOWSPRIT GARDEN FOR SCHOOL CONSUMPTION, AND FOR DONATION TO THE UNITY FOOD PANTRY; HAVING PLANTED FRUIT TREES IN FIELD ROWS AS PART OF AN ONGOING SWALE-BUILDING PROGRAM; HAVING PLANTED ANNUAL GARLIC; AS WELL AS CULTIVATING MENTORING RELATIONSHIPS WITH INDIVIDUAL STUDENTS FROM ELC - EG. CONVERTING AN OLD DIESEL CULTIVATING TRACTOR TO RUN ON ELECTRIC BATTERIES.

Program 3

BOWSPRIT PROVIDED OPPORTUNITIES FOR STUDENTS/TEACHERS TO UTILIZE THE FARM TO STUDY ECOLOGY, AS WELL AS FOR RECREATION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $262,066

Program Service Revenue $8,020

Investment Income $2,382

Other Revenue $0

TOTAL REVENUE $272,468

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $53,009

Other Expenses $56,883

TOTAL EXPENSES $56,883

Year-over-Year Comparison

	2023	2022	Change
Revenue	$272,468	$267,714	+0.0%
Expenses	$56,883	$25,337	+1.2%
Net Income	$215,585	$242,377	-0.1%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PETER BRADY	DIRECTOR	N/A	Officer Director	$0	$0	$0
GRAZIELLA CERVI	EXECUTIVE DI	N/A	Officer Director	$0	$0	$0
JEDEDIAH KRIEGEL	DIRECTOR	N/A	Director	$0	$0	$0
DANIEL MACPHEE	SECRETARY/TR	N/A	Officer Director	$0	$0	$0
FRANK PITCHER	CHAIR	N/A	Officer Director	$0	$0	$0
JOHN STEED	DIRECTOR	N/A	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	No data	No data	No data	No data
2023	$272,468	$56,883	$588,528	$215,585
2022	$267,714	$25,337	$381,269	$242,377