Sarah Foundation Inc
- Assets
- $4.6m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 7
- Location
- Guilford, CT
- Founding
- 01/1992
- Data as of
- 12/2021
- EIN
- 06-1281792
Organization Overview
Sarah Foundation Inc is located in Guilford, CT. The organization was established in 1992. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Sarah Foundation Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sarah 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 12/2021, Sarah Foundation Inc generated $1.1m 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 (6.5%) each year. All expenses for the organization totaled $694.8k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.6%) 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SARAH FOUNDATION, INC. IS RESPONSIBLE FOR RAISING FUNDS, MANAGING THE INVESTMENTS AND COORDINATING ALL DONATIONS IN ACCORDANCE WITH THE WISHES OF THE DONORS AND THE MISSION OF THE SARAH AGENCIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SARAH FOUNDATION, INC. IS RESPONSIBLE FOR RAISING FUNDS, MANAGING THE INVESTMENTS AND COORDINATING ALL DONATIONS IN ACCORDANCE WITH THE WISHES OF THE DONORS AND THE MISSION OF THE SARAH AGENCIES.
SARAH FOUNDATION, INC. RUNS SARAH CUPBOARD THRIFT SHOP WHICH SELLS DONATED ITEMS TO THE PUBLIC. ALL PROCEEDS ARE DISTRIBUTED TO THE RELATED SARAH AGENCIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth Alberti Executive Di | 40 | $130,000 | |
Richard Rex Cretella Vice Preside | OfficerTrustee | 5 | $0 |
Brian Mcglone President | OfficerTrustee | 5 | $0 |
Megan Moriarty Treasurer | OfficerTrustee | 5 | $0 |
Carolyn Wolff Secretary | OfficerTrustee | 5 | $0 |
Dennis Cole Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $210,688 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $210,688 |
| Total Program Service Revenue | $211,046 |
| Investment income | $408,417 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $188,893 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,114,114 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $244,039 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,347 |
| Payroll taxes | $20,097 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $62,706 |
| Advertising and promotion | $7,679 |
| Office expenses | $13,558 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $51,012 |
| 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 | $199,002 |
| Depreciation, depletion, and amortization | $1,715 |
| Insurance | $2,404 |
| All other expenses | $2,786 |
| Total functional expenses | $694,758 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $529,844 |
| 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 | $18,077 |
| Net Land, buildings, and equipment | $715 |
| Investments—publicly traded securities | $4,012,999 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,665 |
| Total assets | $4,563,300 |
| Accounts payable and accrued expenses | $0 |
| 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 | $19,041 |
| Total liabilities | $19,041 |
| Net assets without donor restrictions | $4,416,768 |
| Net assets with donor restrictions | $127,491 |
| 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 | $4,563,300 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Sarah Foundation Inc has recieved totaling $70,301.
| Awarding Organization | Amount |
|---|---|
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $22,801 |
John E Scully Charitable Foundation Inc Cheshire, CT PURPOSE: TO PROVIDE ASSISTANCE TO INSTITUTIONS, ASSOCIATIONS AND SOCIETIES OPERATING SOLELY FOR RELIGIOUS, CHARITABLE, SCIENTIFIC AND LITERARY OR EDUCATION PURPOSES. | $15,000 |
Echlin Foundation Branford, CT PURPOSE: UNRESTRICTED | $12,000 |
Larry W Mccurdy Family Foundation Tr The Villages, FL PURPOSE: TO PROMOTE THE ORGANIZATION'S EXEMPT PURPOSE | $10,000 |
Ejm Fund Orange, CT PURPOSE: GENERAL | $10,000 |
Joe And Cindy Goldberg Family Foundation Inc Guilford, CT PURPOSE: SUPPORT PEOPLE LIVING WITH INTELLECTUAL DISABILITIES. | $500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Harold Grinspoon Foundation Agawam, MA | $968,665,027 | $58,159,410 |
Jader Trust 4 New York, NY | $1,054,851,689 | $157,383,970 |
Rockefeller Family Fund Inc New York, NY | $156,631,848 | $43,772,368 |
Shapiro-Silverberg Foundation New York, NY | $41,665,129 | $24,069,378 |
Hess Philanthropic Fund New York, NY | $231,447,732 | $32,591,174 |
Natural Heritage Trust Albany, NY | $68,314,961 | $23,861,363 |
Hollow Metal Trust Fund New York, NY | $38,290,021 | $12,661,866 |
Halvorsen Family Foundation Greenwich, CT | $235,306,066 | $4,015,208 |
Lynch Foundation Boston, MA | $176,006,196 | $42,142,694 |
Foundation Berma New York, NY | $320,553,699 | $33,382,644 |
Bam Endowment Trust Brooklyn, NY | $106,959,115 | $5,566,840 |
John R Oishei Consolidated Tr 01091998 Buffalo, NY | $21,967,662 | $5,743,689 |