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V G C Foundation FY2022 filing

Tax-deductible

Edgartown, MA501(c)(3)Foundations & GrantmakersEIN 04-3524402Revenue $161K in FY2022

On file with the IRSPo Box 9, 02539-0009 · Edgartown, MATax-exempt since Nov 2000Publicly supported — 509(a)(2)

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The Purpose of the Foundation is to collect and distribute donations for charitable purposes on the Island of Martha's Vineyard.

501(c)(3) charity; gifts are tax-deductible.
98¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $48K a year · 29% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
98%
of spending
Looks good: 98% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
16 mo
of spending, in cash
Looks good: 15.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $10K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$2K
0.6% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$161K
-1% vs prior year
Spent
$87K
To programs
98%
Net assets
$268K
By yearFY2020–FY2025
Revenue
$161K
FY2022▼ -1%
Tap a bar for its year
Revenue by fiscal year
FY2020$159K
FY2021$163K
FY2022$161K
FY2023$162K
FY2024$161K
FY2025$187K
Expenses
$87K
FY2022▼ -11%
Tap a bar for its year
Expenses by fiscal year
FY2020$175K
FY2021$99K
FY2022$87K
FY2023$57K
FY2024$171K
FY2025$114K
Net assets
$268K
FY2022▲ +37%
Tap a bar for its year
Net assets by fiscal year
FY2020$131K
FY2021$195K
FY2022$268K
FY2023$373K
FY2024$363K
FY2025$436K

From the FY2022 Form 990 (year ending May 2022) · see the original

Form 990 (PDF) Claim
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 2000.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

98 cents of each dollar spent went to programs.

Program services 98% · $86K Management & general 2% · $2K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
David Dekker
President
$0Pt VII · Sec A
Douglas Sacks
Treasurer & Clerk
$0Pt VII · Sec A
$0Pt VII · Sec A
See V G C Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Distributes donations for charitable purposes on Martha's Vineyard.

Provided by the organization

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2 programs · $86K · in their own filed words · FY2021
01

The purpose of the foundation is to collect and distribute donations for charitable purposes on the island of martha's VINEYARD.ALSO provide a grant to study soil conditions, plant life and micro-climate, specific to the island of martha's vineyard for the purpose of improving and enhancing the growing season.

$79Kprogram expense
02

Scholarships for caddies and other club employees to further their education.

$6Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Fidelity Investments Charitable Gift FundFY2024$10K
Simmons Family Foundation INCFY2024$500
Total grants receivedfrom 2 funders$10K
Grants paid · 1 grant · $47K · 2019–2019
Cornell UniversityNY · FY2019$46,800

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$161K
Ln 12
Gifts and grantsLn 1h$160K
Investment incomeLn 3$88
Money outPt IX
$87K
Ln 25
Programscol B$86K
Managementcol C$2K
Owns and owesPt X
$268K
net assets · Ln 32
Cash and savingsLn 1–2$114K
Total assetsLn 16$270K
LiabilitiesLn 26$2K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$160K
Investment incomeLn 3$88
Total revenueLn 12$161K
Assets in detailPt X, end of year
CashLn 1$6K
SavingsLn 2$108K
Cash and savings togetherLn 1–2$114K
Total assetsLn 16$270K
LiabilitiesLn 26$2K
Net assetsLn 32$268K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderMay
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$70K$114K
Total assetsLn 16$223K$270K
LiabilitiesLn 26$28K$2K
Net assetsLn 32$195K$268K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$2K$2K
Other expenses (24a–d)Ln 24$86K$86K$205
All other expensesLn 24e$20$20
Total functional expensesLn 25$87K$86K$2K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $187K$114K$73K$436K 990 PDF
FY2024 $161K$171K−$10K$363K 990 PDF
FY2023 $162K$57K$105K$373K 990 PDF
FY2022 Viewing $161K$87K$73K$268K 990 PDF
FY2021 $163K$99K$64K$195K 990 PDF
FY2020 $159K$175K−$16K$131K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (6 parts)
Part I · Summary $160,588 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $162,500$160,500
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $105$88
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $162,605$160,588
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $98,711$87,490
I-18 Total expensesPrior year $98,711$87,490
I-19 Revenue less expensesPrior year $63,894$73,098
Part VI · Governance 3 of 3 board members independent, 4 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $160,588 across 4 lines filed
VIII-1f All other contributions, gifts and grants$160,500
VIII-1h Total contributions, gifts and grants$160,500
VIII-3 Investment incomeExcluded from tax $88$88
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $88$160,588
Part IX · Statement of functional expenses $87,490 across 3 lines filed
IX-11c Accounting feesManagement $1,650$1,650
IX-24 Other expenses (24a–d)Programs $85,615 · Management $205$85,820
IX-24e All other expensesManagement $20$20
IX-25 Total functional expensesPrograms $85,615 · Management $1,875 · Fundraising $0$87,490
Part X · Balance sheet $270,048 assets, 9 lines filed
X-1 Cash, non-interest-bearing$6,027
X-2 Savings and temporary cash investmentsStart of year $69,800$107,521
X-4 Accounts receivableStart of year $153,500$156,500
X-16 Total assetsStart of year $223,300$270,048
X-17 Accounts payable and accrued expenses$1,650
X-26 Total liabilitiesStart of year $28,000$1,650
X-27 Net assets without donor restrictionsStart of year $195,300$268,398
X-32 Total net assets or fund balancesStart of year $195,300$268,398
X-33 Total liabilities and net assetsStart of year $223,300$270,048
Part XI · Reconciliation of net assets $268,398 net assets at year end
XI-1 Total revenue$160,588
XI-2 Total expenses$87,490
XI-3 Revenue less expenses$73,098
XI-4 Net assets at start of year$195,300
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$268,398

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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