Brace Cove Foundation Inc
EIN 810865242About
PART XI: QUALIFYING DISTRIBUTIONSSET-ASIDE STATEMENT 2021 SET-ASIDE, SEE PART XI, LINE 3B:ACTION INC $55,0001. NATURE AND PURPOSE OF PROJECT: THE PROJECT IS FOR CAPITAL AND OPERATING EXPENSES TO CREATE AND MAINTAIN A COMMERCIAL INCUBATOR SPACE AT 206 MAIN STREET, GLOUCESTER. THIS PROJECT SUPPORTS ACTION, INC. THE MISSION OF ACTION IS TO BUILD AN EQUITABLE AND RESILIENT COMMUNITY BY CREATING OPPORTUNITIES FOR ALL ON CAPE ANN. 2. THE FUNDS WERE SET ASIDE IN SEPTEMBER 2021. THE FULL AMOUNT OF $55,000 WAS DISTRIBUTED IN FEBRUARY 2022. 3. IN FEBRUARY 2021 WE RECEIVED A PROPOSAL FROM ACTION INC. FOR THIS PROJECT. THEIR FULL APPLICATION WAS DUE 5/31/2021 AND THE AWARD WILL BE MADE IN THE FIRST QUARTER OF 2022.4. DISTRIBUTABLE AMOUNTS FOR PAST TAX YEARS.2015 $02016 $152,4082017 $163,5562018 $172,4902019 $178,2722020 $173,6265. TOTAL AMOUNT OF ACTUAL PAYMENTS FOR PAST TAX YEARS. 2015 $02016 $152,1512017 $172,6292018 $187,2092019 $180,1802020 $154,320
Application Information
Financial Trends
Giving Over Time
Total Assets Over Time
View financial data as table
| Year | Total Giving | Total Assets | Revenue | Grants |
|---|---|---|---|---|
| 2020 | $119K | $3.9M | $21K | 15 |
| 2021 | $173K | $4.8M | $96K | 9 |
| 2022 | $227K | $3.7M | $114K | 18 |
| 2023 | $191K | $4.2M | $255K | 12 |
Grant Size Distribution
Based on 54 grants on record
Geographic Distribution
Officers & Directors
Grants Awarded (54 total)
| Purpose | ||||
|---|---|---|---|---|
| Gloucester Housing Authority | Gloucester, MA | $140,000 | TO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | 2023 |
| Gloucester Housing Authority | Gloucester, MA | $60,000 | TO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | 2022 |
| Gloucester Public Schools | Gloucester, MA | $60,000 | TO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | 2022 |
| Action Inc | Gloucester, MA | $55,000 | TO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | 2021 |
| Action Inc | Gloucester, MA | $55,000 | TO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | 2022 |
| Gloucester Public Schools | Gloucester, MA | $40,000 | TO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | 2023 |
| Groundwork Lawrence Inc | Lawrence, MA | $37,500 | TO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | 2021 |
| Ymca of Newburyport | Newburyport, MA | $26,325 | TO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | 2021 |
| Salem Pantry Inc | Salem, MA | $25,000 | TO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | 2020 |
| Ymca of Metro North | Peabody, MA | $25,000 | TO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | 2021 |
| Action Inc | Gloucester, MA | $20,000 | TO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | 2020 |
| Salem Pantry Inc | Salem, MA | $18,000 | TO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | 2021 |
| Wellspring House | Gloucester, MA | $15,000 | TO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | 2020 |
| Hawc | Salem, MA | $10,000 | TO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | 2022 |
| Rockport Public Schools | Rockport, MA | $8,000 | TO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | 2020 |
| Beverly Bootstraps | Beverly, MA | $5,000 | TO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | 2020 |
| Essex County Community Foundation | Danvers, MA | $5,000 | TO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | 2020 |
| Family Promise North Shore Boston | Beverly, MA | $5,000 | TO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | 2020 |
| Gloucester Fund Inc | Gloucester, MA | $5,000 | TO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | 2020 |
| Hawc | Salem, MA | $5,000 | TO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | 2020 |
| Lifebridge | Salem, MA | $5,000 | TO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | 2020 |
| Nami Cape Ann | Gloucester, MA | $5,000 | TO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | 2020 |
| Northeastern Arc | Danvers, MA | $5,000 | TO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | 2020 |
| Three Sisters Garden Project | Ipswich, MA | $5,000 | TO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | 2020 |
| Nami Cape Ann | Gloucester, MA | $5,000 | TO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | 2021 |