Source of Funds in 2021
For the year ended December 31, 2021, the Marginal Way Preservation Fund generated $847,385 in Fund income and $222,620 in unrealized investment earnings. This resulted in total fund generation of $1,070,005 for the year, which is an increase of $698,164, or 187.8% from the prior year.
The income of the Fund was comprised of $310,000 in plaque sales, $255,000 in major gifts, $109,772 in annual appeal mailing funds, $86,291 in funds generated from benefits and functions, $71,544 in general donations and then other miscellaneous income of $14,678, the majority of which were funds received from the Paycheck Protection Program under the CARES Act. The entire $222,620 were the result of unrealized investment earnings from the Fund’s endowment.
Allocation of Funds in 2021
For the year ended December 31, 2021, the Marginal Way Preservation Fund allocated $1,070,005, or 100% of funds generated for the year. Funds allocated to mission-related activities were $894,298 (83.6%), which consisted of both support for the Town of Ogunquit in funding Marginal Way initiatives, as well as allocation to the Fund’s endowment and reserves. Fundraising and other fund administration expenses totaled $175,707 (16.4%). These expenses included direct fundraising-related expenses, such as plaque, event, and appeal expenses, as well as fund administration, costs such as payroll, outside services, and other miscellaneous administrative