2024-05-13T12:47:34-05:00 2023-12-31 010494526 Baker Newman & Noyes Box 507 Portland ME 04112 990 2023-01-01 222875544 Squirrel Island Preservation Foundation c/o Pierce Atwood LLP SQUI 2078054961 254 Commercial Street Portland ME 04101 William Thomas President 2078054961 2024-05-03 1 William Thomas XXX-XX-XXXX 0 Connor Smart P02285543 2078792100 2024-05-03 3 AAL1 IAL1 2023 2023-04-26 12:10:37Z William Thomas 254 Commercial Street Portland ME 04101 2222939 0 X N/A X 1988 ME Support resource conservation, education, health, etc. for Squirrel Island, ME. 7 7 0 8 0 0 30768 43090 0 0 620240 95566 0 0 651008 138656 320000 0 0 0 0 0 0 0 534 54156 54276 374156 54276 276852 84380 7931359 9042086 0 0 7931359 9042086 To support resource conservation, education, health, culture, and public facilities for Squirrel Island, Maine. 0 0 0 0 0 Funds, grants, and allocations paid to Squirrel Island Village Corporation and other non-profit organizations in order to accomplish goals and objectives as outlined in the mission statement.For the period covered by this Form 990, the Foundation elected to preserve its endowments during a period of market uncertainty in an effort to maintain principal with a focus on perpetuity so that it may contribute larger amounts of support in subsequent tax years. 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 0 1 0 1 1 0 0 1 0 0 0 0 0 0 X Philbrook & Associates 2075949460 PO Box 1149 Rockland ME 04841 X Paula Bokesch Trustee 0.50 0.00 X 0 0 0 Barbara Howaniec Trustee 0.50 0.00 X 0 0 0 Debby Kerr Trustee 0.50 0.00 X 0 0 0 Jeff Morton Trustee (end 6/2023) 0.50 0.00 X 0 0 0 Arthur Veasey Trustee 0.50 0.00 X 0 0 0 William Thomas President & Secretary 1.00 0.00 X X 0 0 0 David Splaine Vice President 0.50 0.00 X X 0 0 0 Nina H Garrison Treasurer 0.50 0.00 X X 0 0 0 0 0 0 0 0 0 0 0 43090 43090 275016 275016 1904833 2084283 -179450 -179450 -179450 138656 0 0 95566 72 72 11047 11047 40191 40191 557 23 534 2409 2409 54276 0 53742 534 54022 83026 294049 291484 7139557 8468701 443731 198875 7931359 9042086 0 0 X 0 0 0 0 7931359 9042086 7931359 9042086 7931359 9042086 84380 1026347 0 X X 0 1 X 1 0 X X 1 Squirrel Island Village Corp 016001059 6 1 0 54276 1 0 54276 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 Schedule A, Part IV, Section A, Line 2: The Organization's supported organization, Squirrel Island Village Corporation, did not receive an IRS determination letter under 509(a)(1) or 509(a)(2). However, Squirrel Island Village Corporation is a government municipality and therefore would not receive an IRS determination letter. Schedule A, Part I, Line 12g(vi): The majority of the Foundation's support to its supported organization takes the form of transfers of funds or direct contributions paid to the Squirrel Island Village Corporation (the "Corporation"). However, the Foundation also regularly incurs investment administration expenses, as well as fees for accounting services, insurance, and nominal office expenses. While such expenditures are not paid directly to the Corporation, these costs are incurred by the Foundation in furtherance of its mission to maintain and invest funds for the benefit of the Corporation. Accordingly, such expenses have been disclosed on this Form 990, Schedule A, Part I, Line 12g(vi), as Other Support provided to the benefit of the Corporation. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 7877337 13944 1081722 13943 8959060 9364995 30768 -1167658 350768 7877337 8386912 12589 1117960 152466 9364995 7908506 23390 631690 176674 8386912 6949532 24455 1143974 209455 7908506 1.00000 0.00000 0.00000 0 0 0 X 1124812 1026347 1026347 98465 40191 40191 138656 13943 0 13943 40191 142 40333 54276 Part V, Line 4: The endowment income will be spent to support resource conservation, education, health, culture, and public facilities for Squirrel Island, Maine. Part X, Line 2: The Foundation has received a determination letter from the Internal Revenue Service stating that it qualifies for tax-exempt status under Section 501(c)(3) of the Internal Revenue Code (the Code) and for Public Charity status under Section 509(a)(3) of the Code. Tax-exempt organizations could be required to record an obligation for income taxes as the result of a tax position they have historically taken on various tax exposure items including unrelated business income or tax status. Under guidance issued by the Financing Accounting Standards Board, assets and liabilities are established for uncertain tax positions taken or positions expected to be taken in income tax returns when such positions are judged to not meet the "more-likely-than-not" threshold, based upon the technical merits of the position. The Foundation has evaluated the positions taken on its filed tax returns. The Foundation has concluded that no uncertain income tax positions exist at December 31, 2023. Part XII, Line 4b - Other Adjustments: Accrual to cash conversion 142. Form 990, Part VI, Section A, line 7a One board member (overseer trustee) of Squirrel Island Preservation Foundation shall be elected by and from the board of overseers of Squirrel Island Village Corporation. There shall be five board members-at-large elected by the legal voters of Squirrel Island Village Corporation. There shall also be one association trustee elected by the board of Squirrel Island Association, an affiliated organization that is not related by Form 990 qualifications. Form 990, Part VI, Section B, line 11b The board of directors is provided a copy of the Form 990. It is also carefully reviewed by an authorized person from the board. Form 990, Part VI, Section C, line 19 All documents are available at annual meetings and upon request. Form 990, Part XII, line 2c: The oversight process and selection process of an independent auditor are unchanged. Squirrel Island Village Corporation Southport Island Boothbay Harbor ME 04538 016001059 Governance ME 501(c)(3) Line 6 N/A 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0