2024-11-14T07:54:47-05:00 2023-12-31 042962008 MICHAEL C MELLO CPA 331 ELSBREE STREET FALL RIVER MA 027207211 990 2023-01-01 010957572 MARGINAL WAY PRESERVATION FUND MARG 2076044884 P O BOX 1455 OGUNQUIT ME 03907 JOHN PHINNEY PRESIDENT 2076044884 2024-11-15 true true CHRISTOPHER MELLO P02438159 5086754500 2024-11-14 2023 2024-10-15 13:58:12Z JOHN PHINNEY 14 SANDY POINT OGUNQUIT ME 03907 754364 false X HTTPS://WWW.MARGINALWAYFUND.ORG/ X 2010 ME THE MARGINAL WAY PRESERVATION FUND IS A NON-PROFIT ORGANIZATION THAT RAISES MONEY TO FUND AN ENDOWMENT WHOSE MISSION IT IS TO FUND PROJECTS TO REPAIR, PRESERVE AND BEAUTIFY THE SCENIC COASTAL WALKWAY LOCATED IN THE TOWN OF OGUNQUIT, MAINE, MORE PARTICULARLY KNOWN AS THE MARGINAL WAY. THE MARGINAL WAY WAS OFFICIALLY PLACED ON THE NATIONAL REGISTER OF HISTORIC PLACES BY THE UNITED STATES DEPARTMENT OF THE INTERIOR ON MARCH 23, 2022, AND IS VISITED BY HUNDREDS OF THOUSANDS OF PEOPLE EACH YEAR WHO WALK THE PATH. 14 14 1 14 0 586684 663204 0 117605 91160 0 704289 754364 51177 0 119284 165323 0 181519 81963 101710 201247 318210 503042 436154 2834985 3489192 9013 7189 2825972 3482003 X THE MARGINAL WAY PRESERVATION FUND IS A NON-PROFIT ORGANIZATION THAT RAISES MONEY TO FUND AN ENDOWMENT WHOSE MISSION IT IS TO FUND PROJECTS TO REPAIR, PRESERVE AND BEAUTIFY THE SCENIC COASTAL WALKWAY LOCATED IN THE TOWN OF OGUNQUIT, MAINE, MORE PARTICULARLY KNOWN AS THE MARGINAL WAY. THE MARGINAL WAY WAS OFFICIALLY PLACED ON THE NATIONAL REGISTER OF HISTORIC PLACES BY THE UNITED STATES DEPARTMENT OF THE INTERIOR ON MARCH 23, 2022, AND IS VISITED BY HUNDREDS OF THOUSANDS OF PEOPLE EACH YEAR WHO WALK THE PATH. false false 51177 51177 THE MWPF SOLICITS CONTRIBUTIONS THROUGH FUNDRAISING ACTIVITIES. THESE CONTRIBUTIONS ARE USED TO FUND THE ORGANIZATION'S ENDOWMENT. ENDOWMENT EARNINGS ARE THEN LEVERAGED FOR PROJECTS RELATED TO BEAUTIFY, IMPROVE OR MAINTAIN THE TOWN OF OGUNQUIT, MAINE'S SCENIC COASTAL WALKWAY, KNOWN AS THE MARGINAL WAY. THE MWPF SOLICITS CONTRIBUTIONS THROUGH FUNDRAISING ACTIVITIES. THESE CONTRIBUTIONS ARE USED TO FUND THE ORGANIZATION'S ENDOWMENT. ENDOWMENT EARNINGS ARE THEN LEVERAGED FOR PROJECTS RELATED TO BEAUTIFY, IMPROVE OR MAINTAIN THE TOWN OF OGUNQUIT, MAINE'S SCENIC COASTAL WALKWAY, KNOWN AS THE MARGINAL WAY. 51177 true false false false false false false false false true true false true false false false false false false false false false false false true false false false false false false false false false false false false false false false false false false false false false false true 3 0 1 true false false false false false true true false false false false false false false false X 14 14 false false false false true true true true true false false true true true true true true true true false ME X ALLISON RAMSEY 2076044884 PO BOX 2396 OGUNQUIT ME 03907 X ALLISON RAMSEY EXECUTIVE DI 40.00 X 120000 0 0 SCOOP CARLILE BOARD MEMBER 0.50 X 0 0 0 LISA EMERSON-STOCLET BOARD MEMBER 0.50 X 0 0 0 LOUESA GILLESPIE BOARD MEMBER 0.50 X 0 0 0 LAUREN HAJJAR BOARD MEMBER 0.50 X 0 0 0 MARY KETT BOARD MEMBER 0.50 X 0 0 0 DR CAROL LEARY PRESIDENT EM 0.50 X 0 0 0 CHRISTOPHER MELLO TREASURER 2.00 X 0 0 0 KATLYN MITSCH BOARD MEMBER 0.50 X 0 0 0 SUMNER NYSTEDT BOARD MEMBER 0.50 X 0 0 0 JIM OLIVER BOARD MEMBER 0.50 X 0 0 0 NAN RAMSEY BOARD MEMBER 0.50 X 0 0 0 BILL SAWYER BOARD MEMBER 1.00 X 0 0 0 CHARLIE HINDMARSH VICE PRESIDE 1.00 X 0 0 0 BARBARA O'LEARY SECRETARY 0.50 X 0 0 0 JOHN PHINNEY PRESIDENT 2.00 X 0 0 0 120000 1 false false false 140176 523028 663204 86338 19936 66402 4822 4822 4822 191 4631 140176 754364 20127 71033 51177 51177 155604 44904 110700 9719 1944 7775 472 472 15373 15373 4317 2811 1506 26042 26042 11953 11707 246 2984 597 2387 8221 8221 2062 2062 ANNUAL APPEAL 9925 9925 OTHER FUNDRAISING COSTS 6017 6017 CREDIT CARD FEES 5594 5594 PLAQUE EXPENSES 4960 4960 3790 50 3740 318210 51177 85514 181519 422708 255604 51323 59102 124398 156950 3375 1213 2837 2162 2233719 3015374 2834985 3489192 9013 7189 9013 7189 X 1933603 2192165 892369 1289838 2825972 3482003 2834985 3489192 X 436154 220552 -675 X true false X 166723 169533 847271 586684 663204 2433415 130000 139515 114 19936 289565 296723 309048 847385 586684 683140 2722980 2722980 66072 66402 132474 66072 66402 132474 296723 309048 847385 652756 749542 2855454 0.95360 0.97180 0.05000 0.03000 X false false 3375 1213 2162 2162 ENDOWMENT 3015374 F 3015374 BENEFITS & FUNC 140176 140176 140176 140176 FORM 990 - ORGANIZATION'S MISSION THE MARGINAL WAY PRESERVATION FUND IS A NON-PROFIT ORGANIZATION THAT RAISES MONEY TO FUND AN ENDOWMENT WHOSE MISSION IT IS TO FUND PROJECTS TO REPAIR, PRESERVE AND BEAUTIFY THE SCENIC COASTAL WALKWAY LOCATED IN THE TOWN OF OGUNQUIT, MAINE, MORE PARTICULARLY KNOWN AS THE MARGINAL WAY. THE MARGINAL WAY WAS OFFICIALLY PLACED ON THE NATIONAL REGISTER OF HISTORIC PLACES BY THE UNITED STATES DEPARTMENT OF THE INTERIOR ON MARCH 23, 2022, AND IS VISITED BY HUNDREDS OF THOUSANDS OF PEOPLE EACH YEAR WHO WALK THE PATH. FORM 990, PAGE 1, PART I, LINE 6 THE MARGINAL WAY PRESERVATION FUND IS GOVERNED BY A VOLUNTEER GROUP THAT SERVES ON THE BOARD OF DIRECTORS AND SOME WHO SERVE AS EXECUTIVE OFFICERS. THE EXECUTIVE DIRECTOR, WHO REPORTS TO THE PRESIDENT AND CHAIR DESIGNS AND IMPLEMENTS ALL FUNDRAISING ACTIVITIES AND RUNS THE DAY-TO-DAY OPERATIONS OF THE ORGANIZATION. THE BOARD'S VARIOUS CHAIRS OVERSEE THE INVESTMENT POLICY THAT GOVERNS THE ENDOWMENT AND APPROVE THE ANNUAL BUDGET COVERING THE OPERATIONS OF THE NON-PROFIT. FORM 990, PAGE 2, PART III, LINE 4D THE MWPF SOLICITS CONTRIBUTIONS THROUGH FUNDRAISING ACTIVITIES. THESE CONTRIBUTIONS ARE USED TO FUND THE ORGANIZATION'S ENDOWMENT. ENDOWMENT EARNINGS ARE THEN LEVERAGED FOR PROJECTS RELATED TO BEAUTIFY, IMPROVE OR MAINTAIN THE TOWN OF OGUNQUIT, MAINE'S SCENIC COASTAL WALKWAY, KNOWN AS THE MARGINAL WAY. FORM 990, PAGE 6, PART VI, LINE 6 THE MWPF HAS ONLY BOARD MEMBERS AND EXECUTIVE OFFICERS. THERE ARE NO SHAREHOLDERS OR SHARE CLASSES. FORM 990, PAGE 6, PART VI, LINE 7A NEW BOARD MEMBERS ARE NOMINATED AND ELECTED BY THE EXISTING BOARD. BOARD MEMBERS HAVE THE RIGHT TO A SINGLE VOTE ON ALL ISSUES RELATED TO THE NONPROFIT'S ACTIVITIES. FORM 990, PAGE 6, PART VI, LINE 7B KEY DECISIONS, AS DETERMINED BY THE EXECUTIVE COMMITTEE, ARE SUBJECT TO APPROVAL BY THE BOARD OF DIRECTORS. KEY DECISIONS INCLUDE, BUT ARE NOT LIMITED TO, APPROVING THE ANNUAL OPERATING AND STRATEGIC BUDGET, APPROVING FUNDING REQUESTS RELATED TO ITS MISSION, THE APPOINTMENT OF EXECUTIVE OFFICERS, THE APPOINTMENT OF COMMITTEE HEADS AND THE APPOINTMENT OF THE EXECUTIVE DIRECTOR. THE BOARD CREATED A SEPARATE COMPENSATION COMMITTEE TO DETERMINE AND RECOMMEND TO THE FULL BOARD THE ANNUAL COMPENSATION OF ITS EXECUTIVE DIRECTOR. FORM 990, PAGE 6, PART VI, LINE 11B THE 990 IS REVIEWED AND APPROVED BY THE ORGANIZATION'S EXECUTIVE OFFICERS, WHICH IS COMPRISED OF THE ORGANIZATION'S EXECUTIVE DIRECTOR, PRESIDENT, VICE PRESIDENT AND TREASURER PRIOR TO SHARING WITH THE BOARD OF DIRECTORS. FORM 990, PAGE 6, PART VI, LINE 12C ALL BOARD MEMBERS ARE REQUIRED TO SIGN ANNUALLY A CODE OF CONDUCT WHICH INCLUDES A CONFLICT-OF-INTEREST STATEMENT WHERE THEY DISCLOSE ALL POTENTIAL CONFLICTS THEY BELIEVE MAY EXIST BETWEEN THEMSELVES AND THE NON-PROFIT. THE BOARD HAS ESTABLISHED A PROCESS TO REVIEW AND REMEDY ALL CONFLICTS DISCLOSED AND MEETS EACH QUARTER TO RESOLVE ANY CONFLICTS IDENTIFIED. FORM 990, PAGE 6, PART VI, LINE 15A THE TOP OFFICIAL IS THE PRESIDENT AND CHAIRPERSON; THIS POSITION IS NOT COMPENSATED. FORM 990, PAGE 6, PART VI, LINE 15B THE EXECUTIVE DIRECTOR IS THE NON-PROFIT'S TOP OFFICER AND IS COMPENSATED. THE EXECUTIVE DIRECTOR'S ANNUAL PERFORMANCE REVIEW IS MANAGED BY THE PRESIDENT AND VICE PRESIDENT AND DISCUSSED AND APPROVED BY THE BOARD. THE PERFORMANCE REVIEW ID GIVEN TO THE BOARDS COMPENSATION COMMITTEE WHICH ENGAGES THE SERVICES OF AN INDEPENDENT CONSULTANTS TO DETERMINE COMPENSATION RANGES FOR EXECUTIVE DIRECTORS WITH A SIMILAR SCOPE OF RESPONSIBILITIES. THE COMPENSATION COMMITTEE MAKES A COMPENSATION RECOMMENDATION TO THE BOARD FOR DISCUSSION AND APPROVAL. FORM 990, PAGE 6, PART VI, LINE 19 THE BYLAWS GOVERNING THE NON-PROFIT ARE PUBLISHED ON THE MARGINAL WAY PRESERVATION FUND WEBSITE, WHICH IS AVAILABLE TO THE GENERAL PUBLIC AT HTTPS://WWW.MARGINALWAYFUND.ORG/ABOUT/BYLAWS/. FORM 990, PART XI, LINE 9 BOOK / TAX DEPRECIATION DIFFERENCE -675