Canaan Exchange Club Charitable Trust
- Assets
- $181.0k
- Revenue
- $20.6k
- Investments
- $166.9k
- Employees
- 0
- Location
- Lakeville, CT
- Founding
- 05/1981
- Data as of
- 12/2022
- EIN
- 06-1030724
Organization Overview
Canaan Exchange Club Charitable Trust is located in Lakeville, CT. The organization was established in 1981. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Canaan Exchange Club Charitable Trust 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 12/2022, Canaan Exchange Club Charitable Trust generated $20.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (10.2%) each year. All expenses for the organization totaled $19.3k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (12.1%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Canaan Exchange Club Charitable Trust has awarded 207 individual grants totaling $151,845. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin O'connell President | 5 | $0 | |
Brittanie Cavanaugh Secretary | 5 | $0 | |
Christine Steele Treasurer | 5 | $0 | |
Salisbury Bank And Trust Company Trustee | 1 | $459 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,683 |
| Interest on Savings | $129 |
| Dividends & Interest | $4,148 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,860 |
| Capital Gain Net Income | $1,860 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $11,755 |
| Total Revenue | $20,575 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $459 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $14 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $806 |
| Printing and publications | $249 |
| Other expenses | $15,812 |
| Total operating and administrative expenses | $19,283 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $19,283 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,441 |
| Savings and temporary cash investments | $12,612 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $166,926 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $180,979 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Canaan Exchange Club Charitable Trust has awarded $4,000 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
MARGUERITE BICKFORD PURPOSE: SCHOLARSHIP | $500 |
AIDAN MCCARTHY PURPOSE: SCHOLARSHIP | $500 |
SIRENA GUALAN PURPOSE: SCHOLARSHIP | $500 |
ASHLEE MINACCI PURPOSE: SCHOLARSHIP | $500 |
BRANDON SORRELL PURPOSE: SCHOLARSHIP | $500 |
JUSTINE ALLYN PURPOSE: SCHOLARSHIP | $500 |