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Bowsprit Foundation FY2022 filing

Tax-deductible

Unity, ME501(c)(3)EducationEIN 84-2824905Revenue $268K in FY2022

On file with the IRSbowspritfoundation.org92 Elwell Farm Rd, 04988-3948 · Unity, METax-exempt since Mar 2020Publicly supported charity — 170(b)(1)(A)(vi)

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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.

501(c)(3) charity; gifts are tax-deductible.
50¢ 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 3
filings with a surplus
Average surplus $147K a year · 80% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
50%
of spending
Worth a look: 50% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
5 mo
of spending, in cash
Looks good: 5.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $250K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$8K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$268K
Spent
$25K
To programs
50%
Net assets
$373K
By yearFY2022–FY2024
Revenue
$268K
FY2022
Tap a bar for its year
Revenue by fiscal year
FY2022$268K
FY2023$272K
FY2024$14K
Expenses
$25K
FY2022
Tap a bar for its year
Expenses by fiscal year
FY2022$25K
FY2023$57K
FY2024$30K
Net assets
$373K
FY2022
Tap a bar for its year
Net assets by fiscal year
FY2022$373K
FY2023$589K
FY2024$574K

From the FY2022 Form 990 · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 2020.

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

Where the money goes

50 cents of each dollar spent went to programs.

Program services 50% · $13K Management & general 50% · $13K

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

6 people listed on the 990.

Part VII, Section A · reportable compensation
Peter Brady
Director
$0Pt VII · Sec A
Graziella Cervi
Executive Di
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Bowsprit 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

Teaches youth practical skills in farming, crafts, and food to build independence and hope.

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Provided by the organization

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3 programs · $13K · in their own filed words · FY2022
01

Over two years of programming, bowsprit has provided three fully funded pilot programs to local youth: 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…

$6Kprogram expense
02

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…

$6Kprogram expense
03

Bowsprit provided opportunities for STUDENTS/TEACHERS to utilize the farm to study ecology, as well as for recreation.

Pt IX · col B

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2023
Shelby Cullom Davis Charitable Fund INCFY2023$250K
Total grants receivedfrom 1 funder$250K

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$268K
Ln 12
Gifts and grantsLn 1h$268K
Investment incomeLn 3$30
Money outPt IX
$25K
Ln 25
Programscol B$13K
Managementcol C$13K
Owns and owesPt X
$373K
net assets · Ln 32
Cash and savingsLn 1–2$11K
Total assetsLn 16$381K
LiabilitiesLn 26$8K
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$268K
Investment incomeLn 3$30
Total revenueLn 12$268K
Assets in detailPt X, end of year
CashLn 1$2K
SavingsLn 2$10K
Cash and savings togetherLn 1–2$11K
Land, buildings, equipmentLn 10c$105K
Other assetsLn 15$215K
Total assetsLn 16$381K
LiabilitiesLn 26$8K
Net assetsLn 32$373K
OperationsPt I, VI
EmployeesI 50
VolunteersI 63
Fiscal year endsHeaderDecember
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$91K$11K
Land, buildings, equipmentLn 10c$105K
Total assetsLn 16$141K$381K
LiabilitiesLn 26$10K$8K
Net assetsLn 32$131K$373K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$8K$8K
Accounting feesLn 11c$1K$1K
Advertising and promotionLn 12$703$703
Office expensesLn 13$1K$1K
OccupancyLn 16$882$882
Depreciation, depletion and amortizationLn 22$1K$1K
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$10K$10K
Total functional expensesLn 25$25K$13K$13K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $14K$30K−$16K$574K 990 PDF
FY2023 $272K$57K$216K$589K 990 PDF
FY2022 Viewing $268K$25K$242K$373K 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 $267,714 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $98,268$267,684
I-9 Program service revenue$0
I-10 Investment income$30
I-11 Other revenue$0
I-12 Total revenuePrior year $98,268$267,714
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $29,025$25,337
I-18 Total expensesPrior year $29,025$25,337
I-19 Revenue less expensesPrior year $69,243$242,377
Part VI · Governance 6 of 6 board members independent, 4 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
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 $267,714 across 4 lines filed
VIII-1f All other contributions, gifts and grants$267,684
VIII-1h Total contributions, gifts and grants$267,684
VIII-3 Investment incomeRelated to mission $30$30
VIII-12 Total revenueRelated to mission $30$267,714
Part IX · Statement of functional expenses $25,337 across 8 lines filed
IX-11b Legal feesManagement $8,443$8,443
IX-11c Accounting feesManagement $1,044$1,044
IX-12 Advertising and promotionPrograms $703$703
IX-13 Office expensesManagement $1,380$1,380
IX-16 OccupancyPrograms $882$882
IX-22 Depreciation, depletion and amortizationPrograms $1,300$1,300
IX-23 InsuranceManagement $1,768$1,768
IX-24 Other expenses (24a–d)Programs $9,817$9,817
IX-25 Total functional expensesPrograms $12,702 · Management $12,635 · Fundraising $0$25,337
Part X · Balance sheet $381,269 assets, 10 lines filed
Asset lines not itemized here account for $50,075; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $7,814$1,501
X-2 Savings and temporary cash investmentsStart of year $82,709$9,834
X-10c Land, buildings and equipment, net$104,859
X-15 Other assets$215,000
X-16 Total assetsStart of year $140,598$381,269
X-17 Accounts payable and accrued expensesStart of year $10,000$8,294
X-26 Total liabilitiesStart of year $10,000$8,294
X-27 Net assets without donor restrictionsStart of year $130,598$372,975
X-32 Total net assets or fund balancesStart of year $130,598$372,975
X-33 Total liabilities and net assetsStart of year $140,598$381,269
Part XI · Reconciliation of net assets $372,975 net assets at year end
XI-1 Total revenue$267,714
XI-2 Total expenses$25,337
XI-3 Revenue less expenses$242,377
XI-4 Net assets at start of year$130,598
XI-10 Net assets at end of year$372,975

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

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