Main Street Community Foundation
- Assets
- $29.7m
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 7
- Location
- Bristol, CT
- Founding
- 01/1996
- Data as of
- 12/2022
- EIN
- 06-1433299
Organization Overview
Main Street Community Foundation is located in Bristol, CT. The organization was established in 1996. 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. As of 12/2022, Main Street Community Foundation employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Main Street Community Foundation 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, Main Street Community Foundation generated $3.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $2.3m during the year ending 12/2022. While expenses have increased by 6.9% 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.
Since 2015, Main Street Community Foundation has awarded 319 individual grants totaling $5,881,545. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
INSPIRING DONORS AND COMMUNITY PARTNERS TO FOSTER A SUSTAINABLE LEGACY OF IMPACTFUL GIVING BY ENCOURAGING AND PROMOTING: GIFT PLANNING, PRUDENT STEWARDSHIP OF ASSETS, EFFECTIVE GRANT MAKING AND COMMUNITY LEADERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION PROVIDES GRANTS TO ELIGIBLE NON-PROFIT COMMUNITY ORGANIZATIONS IN THE FIELDS OF ARTS AND CULTURE, COMMUNITY DEVELOPMENT AND OUTREACH, EDUCATION, HEALTH, HUMAN SERVICES, ENVIRONMENT AND ANIMAL WELFARE AND COVID-19 PANDEMIC RESPONSE.
THE FOUNDATION'S SCHOLARSHIP PROGRAM BRINGS TOGETHER STUDENTS IN NEED AND DONORS WHO CARE ABOUT EDUCATION TO ENABLE MORE STUDENTS TO ACHIEVE THEIR EDUCATIONAL DREAMS. THE FOUNDATION BELIEVES THAT AN INVESTMENT IN AREA STUDENTS IS AN INVESTMENT IN OUR COMMUNITY. THE IMPACT OF THIS INVESTMENT WILL BE REALIZED LONG BEYOND THE DEGREE OBTAINED. THE FOUNDATION CURRENTLY ADMINISTERS OVER 90 NAMED SCHOLARSHIP FUNDS THAT HAVE BEEN ESTABLISHED BY INDIVIDUALS, FAMILIES, BUSINESSES AND OTHER ORGANIZATIONS.
GRANTS FROM AGENCY ENDOWMENT FUNDS ESTABLISHED BY AN UNRELATED ENTITY WHICH USES ITS OWN FUNDS FOR ITS OWN BENEFIT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Sadecki President & CEO | OfficerTrustee | 38 | $167,276 |
Scott Fournier Chair Of The Board | OfficerTrustee | 2 | $0 |
Daniel J Daigle Vice Chair | OfficerTrustee | 2 | $0 |
Marguerite P Fletcher Past Chair Of The Board | OfficerTrustee | 2 | $0 |
William R Micari Treasurer | OfficerTrustee | 2 | $0 |
Kathryn C Reinhard Secretary | OfficerTrustee | 2 | $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 | $1,360,439 |
| Noncash contributions included in lines 1a–1f | $256,109 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,360,439 |
| Total Program Service Revenue | $205,998 |
| Investment income | $834,738 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,116,371 |
| Net Income from Fundraising Events | $64,245 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,587,205 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $971,544 |
| Grants and other assistance to domestic individuals. | $292,668 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $175,727 |
| Compensation of current officers, directors, key employees. | $90,416 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $344,096 |
| Pension plan accruals and contributions | $11,188 |
| Other employee benefits | $30,725 |
| Payroll taxes | $38,719 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,048 |
| Fees for services: Accounting | $15,908 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $169,823 |
| Fees for services: Other | $21,608 |
| Advertising and promotion | $22,094 |
| Office expenses | $66,490 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $41,628 |
| Travel | $1,078 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $14,164 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,875 |
| Insurance | $6,974 |
| All other expenses | $0 |
| Total functional expenses | $2,284,103 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $80,746 |
| Savings and temporary cash investments | $519,485 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $47,461 |
| 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 | $100 |
| Net Land, buildings, and equipment | $17,509 |
| Investments—publicly traded securities | $29,053,793 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $29,719,094 |
| Accounts payable and accrued expenses | $12,116 |
| Grants payable | $74,265 |
| 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 | $86,381 |
| Net assets without donor restrictions | $28,948,612 |
| Net assets with donor restrictions | $684,101 |
| 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 | $29,719,094 |
Grants Awarded
Over the last fiscal year, Main Street Community Foundation has awarded $867,876 in support to 37 organizations.
| Grant Recipient | Amount |
|---|---|
BOYS & GIRLS CLUB OF BRISTOL FAMILY CENTER PURPOSE: SUPPORT FOR YOUTH PROGRAMS/UNRESTRICTED OPERATING SUPPORT | $117,740 |
BRISTOL ADULT RESOURCE CENTER INC PURPOSE: GENERAL/PROGRAM SUPPORT | $15,000 |
BRISTOL CHILD DEVELOPMENT CENTER PURPOSE: SUMMER DAY CAMP/GENERAL | $5,458 |
BRISTOL COMMUNITY SERVICES PURPOSE: NEW PARENT & CHILD CENTER/UNRESTRICTED OPERATING SUPPORT | $7,000 |
AMERICAN CLOCK & WATCH MUSEUM PURPOSE: GENERAL/PROGRAM/UNRESTRICTED OPERATING SUPPORT | $12,630 |
BRISTOL FAMILY RESOURCE CENTERS PURPOSE: GENERAL/UNRESTRICTED OPERATING SUPPORT | $6,820 |