Housatonic Community College Foundation Inc
- Assets
- $2.9m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 3
- Location
- Bridgeport, CT
- Founding
- 05/1991
- Data as of
- 06/2022
- EIN
- 06-1291848
Organization Overview
Housatonic Community College Foundation Inc is located in Bridgeport, CT. The organization was established in 1991. 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, Housatonic Community College Foundation Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Housatonic Community College 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 06/2022, Housatonic Community College Foundation Inc generated $2.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.2% each year . All expenses for the organization totaled $1.1m during the year ending 06/2022. While expenses have increased by 12.6% 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
THE FOUNDATION SUPPORTS THE MISSION OF HOUSATONIC COMMUNITY COLLEGE BY GRANTING SCHOLARSHIPS AND GRANTS TO STUDENTS OF THE COLLEGE AND SUPPORTING VARIOUS COLLEGE PROGRAMS
Describe the Organization's Program Activity:
Part 3 - Line 4a
EACH SEMESTER, THE HCC FOUNDATION AWARDS SCHOLARSHIPS TO STUDENTS PRIMARILY BASED ON THEIR FINANCIAL NEED, AS WELL AS ACADEMIC MERIT, COMMUNITY SERVICE AND CAMPUS LEADERSHIP. SCHOLARSHIPS ARE "LAST-DOLLAR" MEANING FINANCIAL AID IS APPLIED TO THE STUDENT'S ACCOUNT BEFORE HCC FOUNDATION SCHOLARSHIPS. WHERE OVER 70% OF HCC STUDENTS QUALIFY FOR FINANCIAL AID AND 95% OF STUDENTS IN THE HCC FOUNDATION SCHOLARSHIP PROGRAM MEET INTAKE GUIDELINES AND CRITERIA, THE SCHOLARSHIP PROGRAM IS A VITAL RESOURCE FOR THE HCC COMMUNITY.
THE HCC FOUNDATION ENHANCES LEARNING AND EXPERIENCES THROUGH PROGRAM GRANTS. FUNDING SUPPORTS STUDENT PURSUING STEAM AT HCC, MANUFACTURING, FINANCIAL LITERACY, AND ENTREPRENEURSHIP. EQUITY PROGRAMS ARE ALSO SUPPORTED THROUGH HCC FOUNDATION INCLUDING THE FAMILY ECOMONIC SECURITY PROGRAM AND EQUITY PROJECT. BOTH PROGRAMS FOCUS ON INCREASING STUDENT RETENTION AND COMPLETION, AS WELL AS FINANCIAL LITERACY AND PERSONAL DEVELOPMENT.
THE HOUSATONIC MUSEUM OF ART (HMA) IS HOME TO ONE OF THE PREMIER COLLEGE ART COLLECTIONS IN THE UNITED STATES. ITS COLLECTION OFFERS STUDENTS AND THE COMMUNITY ALIKE THE OPPORTUNITY TO VIEW WORKS THAT SPAN THE HISTORY OF ART FROM THE ANCIENT TO THE CONTEMPORARY. UNIQUE TO THE HOUSATONIC COMMUNITY COLLEGE CAMPUS, THIS PERMANENT COLLECTION IS ON CONTINUOUS DISPLAYTHROUGHOUT THE 300,000 SQUARE FOOT FACILITY, OFFERING A RARE OPPORTUNITY FOR BOTH ART ENTHUSIASTS AND CASUAL OBSERVERS TO VIEW AND INTERACT WITH THE ART ON A DAILY BASIS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce Murray President | OfficerTrustee | 1 | $0 |
Bradley A Hardy Treasurer | OfficerTrustee | 1 | $0 |
Enrico R Costantini Secretary | OfficerTrustee | 1 | $0 |
Judith Corprew Vice President | OfficerTrustee | 1 | $0 |
Carmen Colon Director | Trustee | 1 | $0 |
Ben Maini CPA 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 | $2,193,619 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,193,619 |
| Total Program Service Revenue | $0 |
| Investment income | $37,470 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $34,950 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,266,039 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $774,703 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $46,420 |
| Compensation of current officers, directors, key employees. | $9,284 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $44,783 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $26,618 |
| Payroll taxes | $4,421 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $73,973 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $19,917 |
| Fees for services: Other | $1,617 |
| Advertising and promotion | $12,434 |
| Office expenses | $13,440 |
| Information technology | $17,159 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,107,873 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $612,687 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $12,254 |
| 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 | $2,262,178 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $14,261 |
| Total assets | $2,901,380 |
| Accounts payable and accrued expenses | $119,329 |
| 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 | $119,329 |
| Net assets without donor restrictions | $539,866 |
| Net assets with donor restrictions | $2,242,185 |
| 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 | $2,901,380 |
Grants Recieved
Over the last fiscal year, we have identified 20 grants that Housatonic Community College Foundation Inc has recieved totaling $592,853.
| Awarding Organization | Amount |
|---|---|
Fairfield Countys Community Foundation Inc Norwalk, CT PURPOSE: FOR GENERAL SUPPORT. | $137,500 |
The Frederick A Deluca Foundation Inc Pompano Beach, FL PURPOSE: VOCATIONAL SCHOLARSHIPS | $125,000 |
The Pritchard Foundation New Canaan, CT PURPOSE: UNRESTRICTED CHARITABLE PUPROSES | $50,000 |
Ernest And Joan Trefz Foundation Bridgeport, CT PURPOSE: IN FURTHERANCE OF STATED OBJECTIVES OF THE FOUNDATION | $50,000 |
Elizabeth M Pfriem Foundation Rye Brook, NY PURPOSE: EDUCATION GRANT | $50,000 |
Almira Family Foundation Ridgefield, CT PURPOSE: GENERAL PURPOSES | $50,000 |
Endowment Analysis
| Beg. Balance | $1,190,140 |
| Earnings | -$89,188 |
| Net Contributions | $177,663 |
| Grants | $23,710 |
| Ending Balance | $1,254,905 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hunter College Foundation Inc New York, NY | $144,509,988 | $37,248,838 |
The American Friends Of Winchester College New York, NY | $259,900 | $15,435,931 |
Friends Of@ascend Charter Schools Inc Brooklyn, NY | $51,013,536 | $16,135,870 |
Equitable Facilities Fund Inc New York, NY | $843,754,758 | $34,535,002 |
Dudley Square Realty Corporation Boston, MA | $98,074,702 | $123 |
Auxiliary Campus Enterprises And Services State University College Alfred, NY | $11,814,689 | $16,740,654 |
College Of Staten Island Auxiliary Services Corp Inc Staten Island, NY | $62,695,629 | $9,780,570 |
American Friends Of The National Gallery London Inc New York, NY | $305,852,204 | $2,300,126 |
Auxiliary Services Corporation Of Suny Cortland Cortland, NY | $19,099,097 | $10,450,642 |
The Roosevelt Institute New York, NY | $39,947,474 | $14,561,739 |
Empire Commons Student Housing Inc Albany, NY | $47,889,992 | $16,000,956 |
Prep For Prep New York, NY | $67,702,952 | $11,458,262 |