Housatonic Community College Foundation Inc
- Assets
- $3.4m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 6
- Location
- Bridgeport, CT
- Founding
- 05/1991
- Data as of
- 06/2023
- 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 06/2023, Housatonic Community College Foundation Inc employed 6 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 06/2023, Housatonic Community College Foundation Inc generated $1.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.3% each year. All expenses for the organization totaled $1.3m during the year ending 06/2023. While expenses have increased by 13.3% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION SUPPORTS STUDENTS AT HOUSATONIC THROUGH SCHOLARSHIPS, EQUITY PROGRAMS, BOOK AND EMERGENCY FUNDS, FOOD PANTRY, THE ENTREPRENEURSHIP CENTER, STEAM AND OTHER STUDENT LEARNING ENHANCEMENTS.THE FOUNDATION'S STAFF AND BOARD OF DIRECTORS REMAIN COMMITTED TO STUDENT SUCCESS AND ASSURING LEARNING OPPORTUNITIES FOR ALL ENRICHING LIVES, INVIGORATING OUR COMMUNITY AND CREATING MEANINGFUL CAREER PATHS.
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 60% 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. OVER 400 STUDENTS ARE PROVIDED SCHOLARSHIPS AND EMERGENCY FUND ASSISTANCE AWARDS ANNUALLY.
THE HCC FOUNDATION WORKS TO ACHIEVE IT GOAL OF INCREASING ACCESS AND RETENTION FOR PRIMARILY MARGINALIZED STUDENTS THROUGH ITS EQUITY PROGRAMS. THE PROGRAMS ARE COHORT BASED AND USE A COACHING MODEL AND WRAP-AROUND SUPPORTS. COHORTS INCLUDE STUDENTS WHO IDENTIFY AS FEMALE, STUDENT WHO IDENTIFY AS MALE, AND STUDENTS WHO ARE FORMERLY INCARCERATED. CUMULITAVELY, THE EQUITY PROGRAMS SERVICE 150 STUDENTS ANNUALLY. MANY OF ITS WORKSHOPS ARE ALSO OPEN TO THE GENERAL POPULATION OF STUDENTS.
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. THE HCC FOUNDATION IS THE FUNDRAISING PARTNER TO THE HMA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Judith Corprew President | OfficerTrustee | 1 | $0 |
Laurie Giles Vice President | OfficerTrustee | 1 | $0 |
Jen Cutrali Treasurer | OfficerTrustee | 1 | $0 |
Bradley Hardy Treasurer, Thru June 2023 | OfficerTrustee | 1 | $0 |
Enrico R Costantini Secretary | OfficerTrustee | 1 | $0 |
Liz Ball Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $34,754 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,294,781 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,329,535 |
| Total Program Service Revenue | $0 |
| Investment income | $76,911 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $92,046 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,501,468 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $960,030 |
| 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 | $83,588 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $20,311 |
| Fees for services: Other | $1,926 |
| Advertising and promotion | $17,389 |
| Office expenses | $6,642 |
| Information technology | $18,693 |
| 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 | $2,234 |
| All other expenses | $163 |
| Total functional expenses | $1,310,912 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $143,261 |
| Savings and temporary cash investments | $100,396 |
| Pledges and grants receivable | $2,003 |
| 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 | $19,630 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,102,599 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,367,889 |
| Accounts payable and accrued expenses | $364,206 |
| 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 | $364,206 |
| Net assets without donor restrictions | $677,256 |
| Net assets with donor restrictions | $2,326,427 |
| 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 | $3,367,889 |