New Canaan Community Foundation Inc
- Assets
- $25.8m
- Revenue
- $2.9m
- Investments
- $5.5m
- Employees
- 5
- Location
- New Canaan, CT
- Founding
- 01/1978
- Data as of
- 06/2023
- EIN
- 06-0970466
Organization Overview
New Canaan Community Foundation Inc is located in New Canaan, CT. The organization was established in 1978. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 06/2023, New Canaan Community Foundation Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Canaan Community Foundation 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, New Canaan Community Foundation Inc generated $2.9m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.2%) each year. All expenses for the organization totaled $2.7m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (4.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, New Canaan Community Foundation Inc has awarded 1,038 individual grants totaling $16,525,644. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
NEW CANAAN COMMUNITY FOUNDATION ADDRESSES OUR COMMUNITY'S NEEDS BY PROVIDING LEADERSHIP ON LOCAL ISSUES, MAKING IMPACTFUL GRANTS, AND FACILITATING NEW CANAAN'S EFFECTIVE CHARITABLE GIVING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS ARE MADE TO SUPPORT CAPITAL, PROGRAM AND OPERATING NEEDS OF LOCAL NONPROFIT ORGANIZATIONS.
GRANTS ARE MADE TO PROVIDE SCHOLARSHIP ASSISTANCE FOR NEW CANAAN RESIDENTS WITH FINANCIAL NEED. GRANTS ARE ALSO MADE TO NONPROFIT ORGANIZATIONS TO SUPPORT THEIR SCHOLARSHIP EFFORTS.
THE YOUNG PHILANTHROPISTS PROGRAM WORKS DURING THE SCHOOL YEAR WITH HIGH SCHOOL AGED STUDENTS LIVING OR GOING TO SCHOOL IN NEW CANAAN. STUDENTS LEARN ABOUT NONPROFIT ORGANIZATIONS, LOCAL ISSUES, AND COMMUNITY PHILANTHROPY, AND AWARD GRANTS TO SELECT NONPROFIT ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey Williams Chair | OfficerTrustee | 5 | $0 |
Aaron Cooper Vice Chair | OfficerTrustee | 5 | $0 |
Jim Clayton Treasurer | OfficerTrustee | 5 | $0 |
Elizabeth Cahill Secretary | OfficerTrustee | 5 | $0 |
Alex Grantcharov Director | Trustee | 2 | $0 |
Chris Schipper Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $113,164 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,049,210 |
| Noncash contributions included in lines 1a–1f | $204,635 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,162,374 |
| Total Program Service Revenue | $2,700 |
| Investment income | $777,113 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,664 |
| Net Income from Fundraising Events | -$32,182 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,915,669 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,892,818 |
| Grants and other assistance to domestic individuals. | $33,086 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $159,428 |
| Compensation of current officers, directors, key employees. | $10,628 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $174,717 |
| Pension plan accruals and contributions | $18,394 |
| Other employee benefits | $20,896 |
| Payroll taxes | $23,540 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,410 |
| Fees for services: Accounting | $54,792 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $8,907 |
| Fees for services: Other | $77,551 |
| Advertising and promotion | $12,247 |
| Office expenses | $19,447 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $47,448 |
| Travel | $977 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,158 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,077 |
| Insurance | $7,319 |
| All other expenses | $12,236 |
| Total functional expenses | $2,685,577 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $453,022 |
| Savings and temporary cash investments | $410,297 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $20,138 |
| Net Land, buildings, and equipment | $2,471 |
| Investments—publicly traded securities | $19,278,809 |
| Investments—other securities | $5,537,508 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $66,365 |
| Total assets | $25,768,610 |
| Accounts payable and accrued expenses | $35,062 |
| Grants payable | $167,450 |
| Deferred revenue | $0 |
| 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 | $0 |
| Other liabilities | $48,279 |
| Total liabilities | $250,791 |
| Net assets without donor restrictions | $11,832,103 |
| Net assets with donor restrictions | $13,685,716 |
| 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 | $25,768,610 |
Grants Awarded
Over the last fiscal year, New Canaan Community Foundation Inc has awarded $1,616,713 in support to 83 organizations.
| Grant Recipient | Amount |
|---|---|
ABC OF NEW CANAAN PURPOSE: UNRESTRICTED GRANT RECOMMENDED BY DAF AND GRANT TO SUPPORT WEBSITE REDESIGN | $10,400 |
AMERICARES FREE CLINICS PURPOSE: UNRESTRICTED GRANT RECOMMENDED BY DAF | $14,000 |
BENTLEY UNIVERSITY PURPOSE: RESTRICTED GRANT SCHOLARSHIP | $7,500 |
BOSTON SYMPHONY ORCHESTRA PURPOSE: GRANT RECOMMENDED BY DAF TO SUPPORT SENSORY FRIENDLY CONCERT | $20,000 |
BRITISH SCHOOLS AND UNIVERSITIES FOUNDATION INC PURPOSE: RESTRICTED GRANT SCHOLARSHIP | $7,000 |
BUILDING ONE COMMUNITY - THE CENTER FOR IMMIGRANT OPPORTUNITY PURPOSE: GRANT TO SUPPORT WORKFORCE DEVELOPMENT AND ACADEMIC ENRICHMENT PROGRAMS | $19,000 |