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Nonprofit · EIN 81-0865242

BRACE COVE FOUNDATION INC

Also known as BRACE COVE FOUNDATION

Tax-exempt · GLOUCESTER, MA 01930

Financials

$255K$240K2023$113K$243K2024$1.7M$243K2025
Revenue Expenses · by fiscal year end
Financials of BRACE COVE FOUNDATION INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2025990-PF$1,698,049$242,538$1,455,511$3,857,640$0$3,857,640
December 31, 2024990-PF$113,086$243,096-$130,010$2,397,429$0$2,397,429
December 31, 2023990-PF$255,159$239,605$15,554$2,385,673$0$2,385,673
Financial details: 990-PF for the year ended December 31, 2025

Revenue

Contributions, gifts and grants
$10
Dividends
$115,407
Interest
$11,459
Net rental income
$19,888
Net gain from sales of assets
$1,543,723
Other income
$7,562

Expenses

Grants and similar amounts paid
$148,500
Compensation of officers, directors and key employees
$37,802
Disbursements for charitable purposes
$193,052
Excise tax on investment income
$22,813

Balance sheet and other

Total assets, start of year
$2,397,429
Total assets, end of year
$3,857,640
Total liabilities, end of year
$0
Net assets, end of year
$3,857,640
Fair market value of assets
$5,209,864
Qualifying distributions
$193,052
Net investment income
$1,690,438

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990-PF for the year ended December 31, 2025, highest compensation first.

NameTitleHours / weekCompensation
LIANNA SOURS
186 HESPERUS AVENUE, GLOUCESTER, MA 01930
MANAGER OF OPERATIONS20$37,802
WALTER HERLIHY
186 HESPERUS AVENUE, GLOUCESTER, MA 01930
DIRECTOR1$0
NANCY LEGENDRE
186 HESPERUS AVENUE, GLOUCESTER, MA 01930
DIRECTOR1$0
990-PF for the year ended December 31, 2024: 3 people
NameTitleHours / weekCompensation
LIANNA SOURS
186 HESPERUS AVENUE, GLOUCESTER, MA 01930
MANAGER OF OPERATIONS20$37,029
WALTER HERLIHY
186 HESPERUS AVENUE, GLOUCESTER, MA 01930
DIRECTOR1$0
NANCY LEGENDRE
186 HESPERUS AVENUE, GLOUCESTER, MA 01930
DIRECTOR1$0
990-PF for the year ended December 31, 2023: 3 people
NameTitleHours / weekCompensation
LIANNA SOURS
186 HESPERUS AVENUE, GLOUCESTER, MA 01930
MANAGER OF OPERATIONS20$28,500
WALTER HERLIHY
186 HESPERUS AVENUE, GLOUCESTER, MA 01930
DIRECTOR1$0
NANCY LEGENDRE
186 HESPERUS AVENUE, GLOUCESTER, MA 01930
DIRECTOR1$0

Address and contacts

Address (IRS master file)
186 HESPERUS AVE, GLOUCESTER, MA 01930-3944
In care of
% WALTER HERLIHY
Signed the 990-PF
WALTER HERLIHY, DIRECTOR AND PRESIDENT
Phone
(978) 337-2678
Return prepared by
RSM US LLP

What it must file and when

IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026990-PF on file
2024December 31, 2024May 15, 2025990-PF on file
2023December 31, 2023May 15, 2024990-PF on file

IRS record

EIN
81-0865242
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Private non-operating foundation
Donations deductible (Pub 78)
Private foundation, 30% limit
Exempt since
2016
Accounting year ends
December
Files
Form 990-PF
Assets (IRS master file)
$3,857,640
Income (IRS master file)
$3,127,793

Filing history

FormYear endedRevenueExpensesAssetsReturn
990-PFDecember 2025$1,698,049$242,538$3,857,640XML
990-TDecember 2025–––IRS
990-PFDecember 2024$113,086$243,096$2,397,429IRS
990-PFDecember 2023$255,159$239,605$2,385,673XML
990-PFDecember 2022–––IRS
990-PFDecember 2021–––IRS
990-PFDecember 2020–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 81-0865242).

Questions about BRACE COVE FOUNDATION INC

What is the EIN of BRACE COVE FOUNDATION INC?
The employer identification number (EIN) of BRACE COVE FOUNDATION INC is 81-0865242.
Is BRACE COVE FOUNDATION INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2016.
Are donations to BRACE COVE FOUNDATION INC tax-deductible?
Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
Which annual return does BRACE COVE FOUNDATION INC file?
Form 990-PF. Private foundations file every year.
When is the next return of BRACE COVE FOUNDATION INC due?
The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
When did BRACE COVE FOUNDATION INC last file with the IRS?
The latest return in the IRS public files is the 990-PF for the year ended December 2025.
Who are the officers and directors of BRACE COVE FOUNDATION INC?
The 990-PF for the year ended December 31, 2025 lists 3 people; 1 received compensation from the organization, the highest $37,802 (LIANNA SOURS, MANAGER OF OPERATIONS).
How much revenue does BRACE COVE FOUNDATION INC have?
On its 990-PF for the year ended December 31, 2025 it reported revenue of $1,698,049, expenses of $242,538 and total assets of $3,857,640 at year end.

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