Thomston Savings Bank Foundation Inc
- Assets
- $8.6m
- Revenue
- $1.5m
- Investments
- $8.4m
- Employees
- 0
- Location
- Thomaston, CT
- Founding
- 08/1998
- Data as of
- 12/2022
- EIN
- 06-1483909
Organization Overview
Thomston Savings Bank Foundation Inc is located in Thomaston, CT. The organization was established in 1998. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Thomston Savings Bank 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 12/2022, Thomston Savings Bank Foundation Inc generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 36.1% each year . All expenses for the organization totaled $789.4k during the year ending 12/2022. While expenses have increased by 4.9% per year over the past 4 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 2020, Thomston Savings Bank Foundation Inc has awarded 696 individual grants totaling $2,040,116. 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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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen Lewis President & Trustee | 1 | $0 | |
Rosemary Briglia Secretary | 1 | $0 | |
Carrie Zimyeski Chairman & Trustee | 0 | $0 | |
Rebekah Stokes Treasurer | 1 | $0 | |
Thomas Parisot Trustee | 0 | $0 | |
James Kaniewski Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $14,211 |
| Interest on Savings | $561 |
| Dividends & Interest | $207,932 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,295,280 |
| Capital Gain Net Income | $1,295,280 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,517,984 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $16,329 |
| Depreciation | $0 |
| Occupancy | $204 |
| Travel, conferences, and meetings | $13,656 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $53,989 |
| Contributions, gifts, grants paid | $735,371 |
| Total expenses and disbursements | $789,360 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $90,644 |
| Savings and temporary cash investments | $41,269 |
| 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 | $8,428,064 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $8,559,977 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| 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 | $0 |
Grants Awarded
Over the last fiscal year, Thomston Savings Bank Foundation Inc has awarded $735,371 in support to 252 organizations.
| Grant Recipient | Amount |
|---|---|
ZION EVANGELICAL LUTHERAN CHURCH PURPOSE: TO FUND THE PURCHASE OF PERISHABLE AND NONPERISHABLE FOOD ITEMS FOR HOLIDAY MEAL KITS AS WELL AS KITCHEN SUPPLIES FOR FOOD HANDLING. | $5,000 |
BRISTOL LIONS CLUB PURPOSE: TO ASSIST IN FUNDING THE PURCHASE AND INSTALLATION OF 10 QR CODE PLAQUES TO ENABLE SIGHT IMPAIRED AND READING DISABLED INDIVIDUALS ACCESS TO AUDIO INFORMATION ABOUT THE MONUMENTS/MEMORIALS WHICH LINE MEMORIAL BLVD. | $2,500 |
THE KIDS OF SUMMER FOUNDATION PURPOSE: TO ASSIST IN FUNDING THE PURCHASE OF MATERIALS TO SUPPORT THE SUMMER ENRICHMENT INITIATIVE, WHICH WILL ENGAGE CAMPERS IN BUILDING SMALL ROBOTS. | $2,400 |
BRISTOL VETERANS COUNCIL INC PURPOSE: TO ASSIST IN FUNDING THE PURCHASE OF 21,000 U.S. FLAGS (A THREE YEAR SUPPLY) TO BE PLACED ON VETERAN GRAVES IN BRISTOL AND FORRESTVILLE. | $2,000 |
CITY OF BRISTOL PURPOSE: TO ASSIST IN FUNDING THE COSTS ASSOCIATED WITH THE SUMMER YOUTH ATHLETICS AND ACTIVITIES AT CAMBRIDGE PARK, INCLUDING UNIFORMS, EQUIPMENT, HYDRATION, EDUCATIONAL SUPPLIES, MARTIAL ARTS SCHOLARSHIPS AND GIFT CARDS. | $3,500 |
TUNXIS COMMUNITY COLLEGE FOUNDATION INC PURPOSE: TO ASSIST IN FUNDING THE LAUNCH YOUR LEADERSHIP PROGRAM. | $2,000 |