2022-05-11T10:11:11-05:00 2021-12-31 042962008 MICHAEL C MELLO CPA 331 ELSBREE STREET FALL RIVER MA 027207211 990 2021-01-01 010957572 MARGINAL WAY PRESERVATION FUND MARG 2076044884 P O BOX 1455 OGUNQUIT ME 03907 JOHN PHINNEY PRESIDENT 2076044884 2022-05-10 true JOHN PHINNEY 999009999 CHRISTOPHER MELLO P02438159 5086754500 2022-05-10 2021 2022-09-23 18:48:47Z JOHN PHINNEY 14 SANDY POINT OGUNQUIT ME 03907 847385 false X HTTPS://WWW.MARGINALWAYFUND.ORG/ X 2010 ME THE MWPF NON-PROFIT ORGANIZATION RAISES MONEY FOR ITS ENDOWMENT WHOSE EARNINGS ARE USED TO FUND PROJECTS NEEDED TO BEAUTIFY, IMPROVE AND MAINTAIN 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. 14 14 1 14 0 309048 847271 0 114 62771 0 371819 847385 4500 0 89536 107302 0 125067 58133 68406 147669 180208 224150 667177 1742309 2629895 6950 4740 1735359 2625155 THE MWPF NON-PROFIT ORGANIZATION RAISES MONEY FOR ITS ENDOWMENT WHOSE EARNINGS ARE USED TO FUND PROJECTS NEEDED TO BEAUTIFY, IMPROVE AND MAINTAIN THE MARGINAL WAY SCENIC COASTAL WALKWAY. false false 4500 4500 THE MWPF SOLICITS CONTRIBUTIONS EITHER 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. 4500 true false false false false false false false false true false 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 X 1 0 1 true false false false false false true true false 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 false true true true false ME X ALLISON RAMSEY 2076044884 PO BOX 2396 OGUNQUIT ME 03907 X 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 1.00 X 0 0 0 CHRISTOPHER MELLO TREASURER 1.00 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 0.50 X 0 0 0 CHARLIE HINDMARSH VICE PRESIDE 1.00 X 0 0 0 BARBARA O'LEARY SECRETARY 1.00 X 0 0 0 JOHN PHINNEY PRESIDENT 4.00 X 0 0 0 false false false 86391 12753 748127 847271 114 114 86391 847385 114 4500 4500 99615 19923 79692 7687 1537 6150 765 765 13400 13400 9788 5462 4326 5056 5056 7473 7067 406 3719 744 2975 6689 6689 1648 1648 PLAQUE EXPENSES 7136 7136 ANNUAL APPEAL 6992 6992 DUES & SUBSCRIPTIONS 5645 5645 BANK CHARGES 95 95 180208 4500 50641 125067 173397 412489 104874 224898 95392 101243 1368646 1891265 1742309 2629895 6950 4740 6950 4740 X 454983 841915 1280376 1783240 1735359 2625155 1742309 2629895 X 667177 222619 X true false X 32428 25088 166723 169533 847271 1241043 218336 211626 130000 139515 114 699591 250764 236714 296723 309048 847385 1940634 1940634 97788 6 97794 97788 6 97794 348552 236720 296723 309048 847385 2038428 0.95200 0.92600 0.05000 0.07000 X false false ENDOWMENT 1891265 F 1891265 BENEFITS & FUNC 86391 86391 86391 86391 FORM 990, PAGE 1, PART I, LINE 6 VOLUNTEERS OF THE MARGINAL WAY PRESERVATION FUND ARE COMPRISED OF THE BOARD OF DIRECTORS AND EXECUTIVE OFFICERS WHO GOVERN THE EXECUTIVE OFFICERS AND EXECUTIVE DIRECTOR, DESIGN AND IMPLEMENT FUNDRAISING ACTIVITIES, OVERSEE THE INVESTMENT POLICY THAT GOVERNS THE ENDOWMENT, AND APPROVE THE ANNUAL BUDGET COVERING THE OPERATIONS OF THE NON-PROFIT AND ALLOCATION OF DONATION REVENUE CONSISTENT WITH ITS MISSION. FORM 990, PAGE 5, PART V, LINE 3B THERE WERE NO FUNDS GENERATED THAT WOULD BE CONSIDERED UNRELATED BUSINESS INCOME FOR THE MARGINAL WAY PRESERVATION FUND DURING THE FISCAL PERIOD. FORM 990, PAGE 6, PART VI, LINE 6 THE MWPF HAS BOARD MEMBERS AND EXECUTIVE OFFICERS. FORM 990, PAGE 6, PART VI, LINE 7A 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 NON- PROFIT'S ACTIVITIES. FORM 990, PAGE 6, PART VI, LINE 7B KEY DECISIONS, AS DETERMINED BY THE EXECUTIVE COMMITTEE, ARE SUBJECT TO APPROVAL BY BOARD MEMBERS. KEY DECISIONS INCLUDE APPROVING THE ANNUAL OPERATING AND STRATEGIC BUDGET, THE APPOINTMENT OF EXECUTIVE OFFICERS, THE APPOINTMENT OF COMMITTEE HEADS AND THE APPOINTMENT OF THE 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 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 RECEIVES COMPENSATION. THE EXECUTIVE DIRECTOR'S ANNUAL PERFORMANCE REVIEW IS MANAGED BY THE PRESIDENT AND VICE PRESIDENT AND DISCUSSED AND APPROVED BY THE BOARD. ANNUAL COMPENSATION IS REVIEWED BY THE NON-PROFIT'S COMPENSATION COMMITTEE, WHICH PROVIDES THE PRESIDENT AND VICE PRESIDENT WITH ITS COMPENSATION RECOMMENDATION. THE COMPENSATION COMMITTEE ENGAGES INDEPENDENT CONSULTANTS TO DETERMINE COMPENSATION RANGES FOR EXECUTIVE DIRECTORS WITH A SIMLIAR SCOPE OF RESPONSIBILITIES. FINAL COMPENSATION DECISIONS ARE APPROVED BY THE BOARD AND ANY CHANGES ARE COMMUNICATED BY THE PRESIDENT TO THE EXECUTIVE DIRECTOR. 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 THE MISSION OF THE MARGINAL WAY PRESERVATION FUND IS TO RAISE FUNDS FOR ITS ENDOWMENT. THE INVESTMENT EARNINGS GENERATED BY THE ENDOWMENT ARE USED TO FUND PROJECTS THAT BEAUTIFY, MAINTAIN AND PRESERVE THE MARGINAL WAY. THE NON-PROFIT REVIEWS AND APPROVES THE FUNDING OF PROJECTS BASED ON FUNDING REQUESTS IT RECEIVES FROM VARIOUS ENTITIES THAT DESIGN AND EXECUTE THE WORK NEEDED. IN 2021, THE NON-PROFIT GENERATED MISSION RELATED CONTRIBUTIONS OF 847,385 AND INCURRED MISSION RELATED EXPENSES OF 130,771 AND ORGANIZATIONAL EXPENSES OF 49,437. THE ENDOWMENT GENERATED 222,619 OF INCOME AND UNREALIZED GAINS.