Foote School Association Inc
- Assets
- $48.8m
- Revenue
- $16.1m
- Investments
- $2.3m
- Employees
- 221
- Location
- New Haven, CT
- Founding
- 06/1938
- Data as of
- 06/2023
- EIN
- 06-0646647
Organization Overview
Foote School Association Inc is located in New Haven, CT. The organization was established in 1938. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 06/2023, Foote School Association Inc employed 221 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foote School Association Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Foote School Association Inc generated $16.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $17.1m during the year ending 06/2023. While expenses have increased by 2.2% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
EMPOWER CHILDREN TO LEAD WITH COURAGE, COMPASSION, AND PURPOSE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACADEMIC INSTRUCTION, ATHLETIC & STUDENT ACTIVITIES, OTHER SUPPORT FOR 437 STUDENTS
SUMMER SCHOOL PROGRAM
HORIZONS PROGRAM
AFTER SCHOOL & VACATION PROGRAM
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
George Joseph Vice-Pres/director | OfficerTrustee | 5 | $0 |
Emily Brenner Secretary/director | OfficerTrustee | 5 | $0 |
Kavitha Bindra President/director | OfficerTrustee | 5 | $0 |
Geert Rouwenhorst Treas/director | OfficerTrustee | 5 | $0 |
Jason Price Director | Trustee | 2 | $0 |
Danielle Ginnetti Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kiefer Usa Flooring | 6/29/23 | $161,426 |
D&o Excavating Llc Excavation | 6/29/23 | $102,440 |
Edwardo Osello Pinting Llc Painting | 6/29/23 | $173,576 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $60,994 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,349,327 |
| Noncash contributions included in lines 1a–1f | $37,540 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,410,321 |
| Total Program Service Revenue | $14,358,233 |
| Investment income | $969,393 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,671,526 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,066,421 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,553,576 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $546,928 |
| Compensation of current officers, directors, key employees. | $546,928 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,090,452 |
| Pension plan accruals and contributions | $426,565 |
| Other employee benefits | $1,856,524 |
| Payroll taxes | $533,138 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $78,995 |
| Fees for services: Accounting | $36,888 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $26,464 |
| Advertising and promotion | $63,669 |
| Office expenses | $109,264 |
| Information technology | $283,864 |
| Royalties | $0 |
| Occupancy | $1,231,652 |
| Travel | $441,198 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $60,280 |
| Interest | $757 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $800,194 |
| Insurance | $123,190 |
| All other expenses | $0 |
| Total functional expenses | $17,073,591 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $854,670 |
| Savings and temporary cash investments | $5,774,764 |
| Pledges and grants receivable | $249,050 |
| Accounts receivable, net | $30,569 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $368,551 |
| Net Land, buildings, and equipment | $18,130,385 |
| Investments—publicly traded securities | $21,123,979 |
| Investments—other securities | $2,284,037 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $48,816,005 |
| Accounts payable and accrued expenses | $1,042,096 |
| Grants payable | $0 |
| Deferred revenue | $3,574,309 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $6,091 |
| Other liabilities | $0 |
| Total liabilities | $4,622,496 |
| Net assets without donor restrictions | $24,029,424 |
| Net assets with donor restrictions | $20,164,085 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $48,816,005 |