Peaks Island Fund Inc

EIN: 923794520 501(c)(3) Philanthropy & Grantmaking

Peaks Island, ME

Total Revenue
$138,733
Total Expenses
$143,711
Total Assets
$1,209,217
Net Assets
$1,209,217
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2023
Legal Domicile
ME
Principal Officer
Christopher W Jenkins
Phone
6175955434
Tax Period
2024-01-01 to 2024-12-31

Peaks Island Fund Inc, founded in 2023, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $139K in total revenue in fiscal year 2024. Revenue surged 2805% from the prior year, signaling strong growth momentum. Net assets of $1.2M represent 105 months of operating reserves.

Mission

The activity of the Organization is to provide funding and support for IRC Section 501 (c)(3) Organizations operating on Peaks Island, Maine

Program Service Accomplishments

Program 1
Expenses: $96,062 Revenue: $89,986

The Activity of the Corporation is to provide funding and support for IRC Section 501 (c)(3) organizations operating on Peaks Island Maine 2024 was the Organizations first year of operations after...

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The Activity of the Corporation is to provide funding and support for IRC Section 501 (c)(3) organizations operating on Peaks Island Maine 2024 was the Organizations first year of operations after seperating from the Maine Community Foundation. The Maine Community Foundation transferred over approximately $1,145,566 to the Organization January 1, 2024. The Organization raised $89,986 from donations.Consistent with Fiduciary principles, the Organization made available 4% of the fund for Grant grant making purposes. The Organization incurred expenses of $143,711 payment of Grants of $93,630. These grants were made to 12 different island organizations. See 4b and 4c for a discussion of 2 of the grants In addition to providing Grants the Organization is helping Island Organizations grow their fundraising capabilities by educating them on the ability to leverage mailing lists and connecting different organizations to leverage graphic and design capabilities.

Program 2
Expenses: $0 Revenue: $0

The Organizations Support of the Peaks Island Newspaper lead to the creation of the Newspaper in 2023 with a Grant of 10,000. This initial Grant allowed a trial version of the paper to be published...

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The Organizations Support of the Peaks Island Newspaper lead to the creation of the Newspaper in 2023 with a Grant of 10,000. This initial Grant allowed a trial version of the paper to be published. In 2024 with continuing support of a further $18,000 the Newspaper has been able to expand to a monthly puplication. The Paper now mails a copy to every household on the Island.

Program 3
Expenses: $0 Revenue: $0

The Peaks Island Childrens Workshop has been nuturing the Children of Peaks for more than 50 Years. The Workshop is critical in making the Island viable to young families. The Organization has...

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The Peaks Island Childrens Workshop has been nuturing the Children of Peaks for more than 50 Years. The Workshop is critical in making the Island viable to young families. The Organization has supported the Workshop with a full grant of $10,000 per year providing critically needed support.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $104,016
Program Service Revenue $0
Investment Income $34,717
Other Revenue $0
TOTAL REVENUE $138,733

Expense Breakdown

Grants Paid $93,630
Salaries & Benefits $12,000
Fundraising Expenses $10,142
Program Expenses $96,062
Other Expenses $38,081
TOTAL EXPENSES $143,711

Year-over-Year Comparison

2024 2023 Change
Revenue $138,733 $4,775 +28.1%
Expenses $143,711 $136 +1055.7%
Net Income $-4,978 $4,639 -2.1%
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

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Governance

Voting Members
13
Independent Members
12
Employees
N/A
Volunteers
20

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
$12,000
Total Directors
15
$12,000
Key Employees
1
$12,000
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
W John Funk President 5.00
Officer Director
$0 $0 $0
Vanessa Sylvester Vice President 2.00
Officer Director
$0 $0 $0
Christopher Jenkins Treasurer 2.00
Officer Director
$0 $0 $0
Perry Sutherland Secretary 10.00
Officer Director Key Emp Highest
$12,000 $0 $12,000
Daniel Goodman Trustee 2.00
Director
$0 $0 $0
Rich Amster Trustee 2.00
Director
$0 $0 $0
Owen Sanderson Trustee 2.00
Director
$0 $0 $0
Cara Dolan Trustee 2.00
Director
$0 $0 $0
Robert Harville Trustee 2.00
Director
$0 $0 $0
Rachel Conly Trustee 2.00
Director
$0 $0 $0
Bryn Roberts Trustee 2.00
Director
$0 $0 $0
Laura Reading Trustee 2.00
Director
$0 $0 $0
Cat Stevenson Trustee 2.00
Director
$0 $0 $0
Anne Coughlin Trustee 2.00
Director
$0 $0 $0
Betsy Cook Trustee 2.00
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 $138,733 $143,711 $1,209,217 $-4,978
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