Liberty Bank Foundation
- Assets
- $32.7m
- Revenue
- $3.8m
- Investments
- $31.7m
- Employees
- 0
- Location
- Middletown, CT
- Founding
- 06/1997
- Data as of
- 12/2021
- EIN
- 06-1479957
Organization Overview
Liberty Bank Foundation is located in Middletown, CT. The organization was established in 1997. According to its NTEE Classification (J32) the organization is classified as: Goodwill Industries, under the broad grouping of Employment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Liberty Bank 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 12/2021, Liberty Bank Foundation generated $3.8m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 20.3% each year . All expenses for the organization totaled $1.2m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Liberty Bank Foundation has awarded 889 individual grants totaling $6,314,775. 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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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Toral Maher Secretary/executive Director 8/1 | 40 | $46,885 | |
Susan Murphy Outgoing Executive Director/secretary | 40 | $46,433 | |
Chandler Howard Chairman | 1.2 | $1,675 | |
Catina Caban-Owen Director | 1.2 | $1,550 | |
James Mengacci Director | 1.2 | $1,550 | |
Mark R Gingras Director | 1.2 | $1,550 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $513,416 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,294,645 |
| Capital Gain Net Income | $3,294,645 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $3,808,061 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $101,193 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $51,561 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $12,563 |
| Total operating and administrative expenses | $303,911 |
| Contributions, gifts, grants paid | $889,587 |
| Total expenses and disbursements | $1,193,498 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,062,163 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $32,713,234 |
| Accounts payable and accrued expenses | $27,053 |
| Grants payable | $108,000 |
| 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 | $135,053 |
Grants Awarded
Over the last fiscal year, Liberty Bank Foundation has awarded $1,133,637 in support to 129 organizations.
| Grant Recipient | Amount |
|---|---|
VARIOUS ROTARY CLUB ( 40) THANKSGIVING DINNER DRIVE PURPOSE: TO MATCH FUNDS RAISED IN THE 2021 LIBERTY BANK/ROTARY CLUB THANKSGIVING DRIVE | $286,275 |
Middletown, CT PURPOSE: TO FUND THE ANNUAL APPEAL, RESTRICTED TO PROGRAMS SERVING AT LEAST 51% LOW-MODERATE INCOME POPULATIONS | $50,000 |
HOLE IN THE WALL GANG CAMP PURPOSE: TO SUPPORT THE RECONSTRUCTION OF BUILDINGS DESTROYED BY FIRE AT THE CAMP | $25,000 |
WALLINGFORD FAMILY YMCA PURPOSE: TO SUPPORT THE HEALTHY COMMUNITIES CAPITAL CAMPAIGN | $20,000 |
Gales Ferry, CT PURPOSE: TO SUPPORT THE ANNUAL APPEAL | $20,000 |
BOYS & GIRLS CLUB OF HARTFORD PURPOSE: TO SUPPORT THE CLUB, A SUMMER TEEN PROGRAM | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bronx Community Health Network Inc Bronx, NY | $3,991,099 | $14,090,159 |
Goodwill Industries Of The Pioneer Valley Inc Springfield, MA | $1,569,230 | $6,508,731 |
Goodwill Industries Of The Berkshires And Southern Vermont In Pittsfield, MA | $1,961,231 | $5,923,372 |
C D L Foundation Inc Lawrence, NY | $9,728,036 | $6,948,040 |
Fund For Life Foundation Inc Brooklyn, NY | $41,149,257 | $1,026,606 |
Perry & Donna Golkin Family Foundation New York, NY | $20,120,951 | $2,418,133 |
Liberty Bank Foundation Middletown, CT | $32,713,234 | $3,808,061 |
Beagary Charitable Tr Brooklyn, CT | $18,615,982 | $789,641 |
David And Katherine Moore Family Foundation Rye Brook, NY | $18,358,515 | $2,170,020 |
South Shore Bank Charitable Foundation Inc South Weymouth, MA | $3,180,952 | $305,936 |
Legion Of Good Will New York, NY | $1,508,670 | $481,047 |
Louis F And Mary A Tagliatela Foundation Inc New Haven, CT | $3,047,101 | $452,864 |