W L Gilbert Trust Corporation
- Assets
- $8.4m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 25
- Location
- Winsted, CT
- Founding
- 10/1931
- Data as of
- 06/2022
- EIN
- 06-0669114
Organization Overview
W L Gilbert Trust Corporation is located in Winsted, CT. The organization was established in 1931. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2022, W L Gilbert Trust Corporation employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. W L Gilbert Trust Corporation 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 06/2022, W L Gilbert Trust Corporation generated $1.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.9%) each year. All expenses for the organization totaled $1.7m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (8.6%) per year over the past 7 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE SUPPORT TO THE W.L. GILBERT SCHOOL CORPORATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO SUPPORT THE W.L. GILBERT SCHOOL CORPORATION WHICH OPERATES A SECONDARY SCHOOL FOR RESIDENTS OF THE TOWNS OF WINCHESTER AND HARTLAND, CT.
INTERNATIONAL RESIDENCY PROGRAM:THE TRUST HAS IN ESSENCE BECOME A SENDING DISTRICT AND STUDENTS IN THAT PROGRAM ATTEND THE GILBERT SCHOOL. THE TRUST PAYS PER-PUPIL TUITION TO THE SCHOOL. AT THE START OF THIS FISCAL YEAR THERE ARE 16 FULL-YEAR STUDENTS AND 1 SPRING STUDENTS IN THE PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy Cronin CEO | OfficerTrustee | 40 | $125,898 |
David Sartirana Trustee | Trustee | 1 | $0 |
Scott W Beecher Trustee | Trustee | 1 | $0 |
Jared Fritch Trustee | Trustee | 1 | $0 |
Charles F Seaback President | OfficerTrustee | 2 | $0 |
Donald Crossman Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Northeast Strudent Consulting Llc Recruitment | 6/29/17 | $226,400 |
Ashe Contruction Construction | 6/29/17 | $2,245,583 |
Northeast Strudent Consulting Llc Recruitment | 6/29/17 | $226,400 |
Ashe Contruction Construction | 6/29/17 | $2,245,583 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $125,676 |
| All other contributions, gifts, grants, and similar amounts not included above | $451,384 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $577,060 |
| Total Program Service Revenue | $781,148 |
| Investment income | $260,253 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $800 |
| Net Gain/Loss on Asset Sales | $84,331 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,706,609 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $14,546 |
| Grants and other assistance to domestic individuals. | $149,017 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $145,385 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $266,973 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $37,213 |
| Payroll taxes | $29,618 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $300 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $27,408 |
| Fees for services: Other | $16,089 |
| Advertising and promotion | $0 |
| Office expenses | $17,076 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,066 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $79,021 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $163,836 |
| Insurance | $0 |
| All other expenses | $7,876 |
| Total functional expenses | $1,711,025 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $30,011 |
| Savings and temporary cash investments | $448,941 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $125,676 |
| 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 | $0 |
| Net Land, buildings, and equipment | $3,309,036 |
| Investments—publicly traded securities | $4,324,691 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $124,375 |
| Total assets | $8,362,730 |
| Accounts payable and accrued expenses | $270,944 |
| Grants payable | $0 |
| Deferred revenue | $120,770 |
| 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 | $2,862,113 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,253,827 |
| Net assets without donor restrictions | $910,803 |
| Net assets with donor restrictions | $4,198,100 |
| 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 | $8,362,730 |