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Brace Cove Foundation Inc. is a private corporation based in GLOUCESTER, MA. The foundation received its IRS ruling in 2016. The principal officer is Walter Herlihy. It holds total assets of $2.4M. Annual income is reported at $207K. Total assets have decreased from $3M in 2015 to $2.4M in 2023. The foundation is governed by 3 officers and trustees. The foundation operates in the area of philanthropy & grantmaking. According to its most recent filing, the foundation only makes contributions to preselected charitable organizations. Tax records are available from 2020 to 2023. Grantmaking is concentrated in Massachusetts. According to available records, Brace Cove Foundation Inc. has made 36 grants totaling $454K, with a median grant of $5K. Individual grants have ranged from $500 to $60K, with an average award of $13K. The foundation has supported 18 unique organizations. Grant recipients are concentrated in Massachusetts. Contributions to this foundation are tax-deductible.
Smallest Grant
$2K
Median Grant
$5K
Average Grant
$8K
Largest Grant
$25K
Based on 15 grants from the most recent 990-PF filing.
No program descriptions are available for this foundation. Many private foundations report program activities in their annual 990-PF filings — check the Tax Filings section below for the most recent filing.
Brace Cove Foundation Inc. primarily funds organizations in the area of philanthropy & grantmaking. Based on available records, the foundation has funded 36 grants. Its grantmaking reaches organizations primarily in MA.
Brace Cove Foundation Inc. has distributed a total of $454K across 36 grants. The median grant size is $5K, with an average of $13K. Individual grants have ranged from $500 to $60K.
Brace Cove Foundation Inc. typically selects its grantees rather than accepting unsolicited proposals.
Brace Cove Foundation Inc. is headquartered in GLOUCESTER, MA.
| Name | Title | Compensation | Benefits | Total |
|---|---|---|---|---|
| Lianna Sours | MANAGER OF OPERATIONS | $29K | $0 | $29K |
| Walter Herlihy | DIRECTOR | $0 | $0 | N/A |
| Nancy Legendre | DIRECTOR | $0 | $0 | N/A |
Total Giving
$240K
Total Assets
$2.4M
Fair Market Value
$4.2M
Net Worth
$2.4M
Grants Paid
$191K
Contributions
N/A
Net Investment Income
$255K
Distribution Amount
$203K
Total: $1.1M
Total Grants
36
Total Giving
$454K
Average Grant
$13K
Median Grant
$5K
Unique Recipients
18
Most Common Grant
$5K
of 2022 grantees were first-time recipients
| Recipient | Location | Amount | Year |
|---|---|---|---|
| LifebridgeTO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | Salem, MA | $5K | 2022 |
| Gloucester Housing AuthorityTO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | Gloucester, MA | $60K | 2022 |
| Gloucester Public SchoolsTO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | Gloucester, MA | $60K | 2022 |
| Action IncTO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | Gloucester, MA | $55K | 2022 |
| HawcTO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | Salem, MA | $10K | 2022 |
| Nami Cape AnnTO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | Gloucester, MA | $5K | 2022 |
| Family Promise North Shore BostonTO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | Beverly, MA | $5K | 2022 |
| Friends Of Northshore Education ConsortiumTO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | Beverly, MA | $5K | 2022 |
| Gloucester Council On AgingTO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | Gloucester, MA | $5K | 2022 |
| Three Sisters Garden ProjectTO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | Ipswich, MA | $5K | 2022 |
| Rockport Public SchoolsTO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | Rockport, MA | $4K | 2022 |
| Cornerstone CreativeTO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | Gloucester, MA | $3K | 2022 |
| Amirah IncTO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | Woburn, MA | $2K | 2022 |
| Thatcher Island AssociationTO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | Rockport, MA | $1K | 2022 |
| Cape Ann Kids Holiday FundTO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | Gloucester, MA | $1K | 2022 |
| Generous GardenersTO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | Gloucester, MA | $515 | 2022 |
| Gloucester BoxingTO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | Danvers, MA | $500 | 2022 |
| Global Iniatives IncTO FURTHER THE EXEMPT PURPOSE OF THE FOUNDATION | Gloucester, MA | $500 | 2022 |