Middlesex Community College Foundation Incorporated
- Assets
- $1.2m
- Revenue
- $485.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Middletown, CT
- Founding
- 03/1981
- Data as of
- 06/2022
- EIN
- 06-0991088
Organization Overview
Middlesex Community College Foundation Incorporated is located in Middletown, CT. The organization was established in 1981. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Middlesex Community College Foundation Incorporated 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, Middlesex Community College Foundation Incorporated generated $485.1k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.3% each year . All expenses for the organization totaled $291.9k during the year ending 06/2022. While expenses have increased by 7.6% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT MIDDLESEX COMMUNITY COLLEGE'S EDUCATIONAL ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS AND PRIZES ARE AWARDED TO THE MIDDLESEX COMMUNITY COLLEGE STUDENTS AND SUPPORT IS PROVIDED TO THE SCHOOL FOR EDUCATIONAL PURPOSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rick Morin Treasurer | Officer | 1 | $0 |
Ken Innocenzi Vice Chair | Officer | 1 | $0 |
Laura Pieper Secretary | Officer | 1 | $0 |
Laura Krueger Past Chair | Officer | 1 | $0 |
Chris Dibble Chair | Officer | 1 | $0 |
Steve Minkler Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $28,670 |
| Related organizations | $0 |
| Government grants | $200,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $201,006 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $429,676 |
| Total Program Service Revenue | $0 |
| Investment income | $13,996 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $27,635 |
| Net Income from Fundraising Events | $13,749 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $485,056 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $227,764 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $45,980 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,834 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $10,248 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,059 |
| All other expenses | $0 |
| Total functional expenses | $291,885 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $486,792 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $748,410 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,235,202 |
| Accounts payable and accrued expenses | $61,681 |
| Grants payable | $0 |
| 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 | $0 |
| Total liabilities | $61,681 |
| Net assets without donor restrictions | $65,539 |
| Net assets with donor restrictions | $1,107,982 |
| 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 | $1,235,202 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Middlesex Community College Foundation Incorporated has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
John T And Jane A Wiederhold Foundation Torrington, CT PURPOSE: SCHOLARSHIP FOR VETERINARY TECHNOLOGY STUDENTS | $10,000 |
Endowment Analysis
| Beg. Balance | $884,423 |
| Earnings | -$132,791 |
| Net Contributions | $3,000 |
| Ending Balance | $754,632 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Rhode Island Community Foundation Providence, RI | $1,346,682,058 | $194,702,159 |
Hartford Foundation For Public Giving Hartford, CT | $1,125,106,021 | $82,935,365 |
Community Foundation For Greater Buffalo Inc Buffalo, NY | $874,380,305 | $143,802,626 |
Community Foundation For Greater New Haven New Haven, CT | $745,279,119 | $58,670,540 |
Federation Of Jewish Communities Of The C I S Inc New York, NY | $45,162,356 | $39,631,208 |
Fairfield Countys Community Foundation Inc Norwalk, CT | $264,164,706 | $42,534,303 |
Rochester Area Community Foundation Rochester, NY | $452,673,006 | $59,557,190 |
Catholic Charities Of Buffalo Buffalo, NY | $41,576,335 | $33,263,179 |
New World Foundation New York, NY | $131,879,332 | $14,635,341 |
Central New York Community Foundation Inc Syracuse, NY | $395,864,792 | $49,020,873 |
Community Foundation Of Western Massachusetts Springfield, MA | $263,677,089 | $50,890,910 |
Essex County Community Foundation Incorporated Danvers, MA | $116,029,343 | $28,414,247 |