Ceo Foundation Of Connecticut
- Assets
- $12.9m
- Revenue
- $602.6k
- Investments
- $0.0
- Employees
- 2
- Location
- Madison, CT
- Founding
- 04/1998
- Data as of
- 06/2024
- EIN
- 06-1494714
Organization Overview
Ceo Foundation Of Connecticut is located in Madison, CT. The organization was established in 1998. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 06/2024, Ceo Foundation Of Connecticut employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ceo Foundation Of Connecticut 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 06/2024, Ceo Foundation Of Connecticut generated $602.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (14.3%) each year. All expenses for the organization totaled $1.0m during the year ending 06/2024. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
THE KIDS' SCHOLARSHIP FUND HELPS CONNECTICUT CHILDREN FROM LOW-INCOME FAMILIES REACH THEIR FULL POTENTIAL BY PROVIDING EQUAL ACCESS TO A HIGH-QUALITY, FOUNDATIONAL K-8 EDUCATION THROUGH NEED-BASED SCHOLARSHIPS THAT EMPOWER FAMILIES TO CHOOSE PRIVATE SCHOOLS WHERE THEIR CHILDREN CAN LEARN, GROW, AND THRIVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SINCE 1995, CEO FOUNDATION OF CT HAS AWARDED MORE THAN $22MILLION TO OVER 10,000 CHILDREN. RECENTLY, CEO LAUNCHED THE KIDS' SCHOLARSHIP FUND (KSF) TO FOCUS ON INCREASING THE NUMBER OF K-8 SCHOOL SCHOLARSHIPS AVAILABLE TO CONNECTICUT'S UNDERSERVED FAMILIES AND CHILDREN. EACH YEAR KSF RECEIVES NEARLY 1,000 QUALIFIED APPLICATIONS FOR 375 COVETED SCHOLARSHIPS. KSF IS PROUD TO MAKE A DIFFERENCE IN THE LIVES OF THESE 375 CHILDREN, BUT STRIVES TO SERVE ALL IN NEED.MOVING FORWARD, KIDS' SCHOLARSHIP FUND WILL FOCUS ON EXPANDING ACCESS BY INCREASING ANNUAL FUNDRAISING TO MEET THE INCREASING NEED AND BY EDUCATING PARENTS AND GUARDIANS ABOUT THE BENEFITS OF QUALITY EDUCATION, WHILE MAINTAINING RELATIONSHIPS WITH FAMILIES AND STUDENTS AS THEY MOVE THROUGH HIGH SCHOOL, TECHNICAL SCHOOL AND COLLEGE, AND CAREERS/LIFE. WE WILL CONTINUE TO MEASURE IMPACT AND SUCCESS, WORKING CLOSELY WITH OUR PARTNER SCHOOLS TO ENSURE PRIVATE, PAROCHIAL, RELIGIOUS AND NON-RESIDENCY EDUCATION OPTIONS REMAIN AVAILABLE TO LOW-INCOME FAMILIES. WITH OUR ALUMNI SCHOLARS AND THEIR FAMILIES, WE WILL CREATE A PAY IT FORWARD MOVEMENT TO HELP FUTURE STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lewis Andrews President And Chair | OfficerTrustee | 1 | $0 |
David G Bohn Vice Chair | OfficerTrustee | 1 | $0 |
James Alber Treasurer | OfficerTrustee | 1 | $0 |
Ashley Martella Secretary | OfficerTrustee | 1 | $0 |
Brian Boyd Director | Trustee | 1 | $0 |
Andrew Jones 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 | $143,288 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $143,288 |
| Total Program Service Revenue | $0 |
| Investment income | $371,334 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $88,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $602,622 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $721,868 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $125,016 |
| Compensation of current officers, directors, key employees. | $31,254 |
| Compensation to disqualified persons | $49,000 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $6,706 |
| Payroll taxes | $13,501 |
| Fees for services: Management | $16,800 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $56,207 |
| Fees for services: Other | $23,856 |
| Advertising and promotion | $0 |
| Office expenses | $14,884 |
| Information technology | $0 |
| 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 | $1,403 |
| All other expenses | $0 |
| Total functional expenses | $1,038,491 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $135,527 |
| Savings and temporary cash investments | $190 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,200 |
| 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 | $12,774,407 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $12,914,324 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $4,989,625 |
| Net assets with donor restrictions | $7,924,699 |
| 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 | $12,914,324 |