Union Savings Bank Foundation Inc
- Assets
- $10.5m
- Revenue
- $422.5k
- Investments
- $10.0m
- Employees
- 0
- Location
- Danbury, CT
- Founding
- 07/1998
- Data as of
- 12/2023
- EIN
- 06-1508286
Organization Overview
Union Savings Bank Foundation Inc is located in Danbury, 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. Union 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 12/2023, Union Savings Bank Foundation Inc generated $422.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (20.6%) each year. All expenses for the organization totaled $502.1k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Union Savings Bank Foundation Inc has awarded 275 individual grants totaling $1,801,648. 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 |
|---|---|---|---|
Lucie H Voves Chair | 1 | $0 | |
Michelle King Secretary | 1 | $0 | |
Paul H Bruce Treasurer/trustee | 1 | $0 | |
Cynthia C Merkle Retired 83123 President/trustee | 1 | $0 | |
Ray Boa Trustee | 1 | $0 | |
Jeffrey Kilberg Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $226,200 |
| Interest on Savings | $0 |
| Dividends & Interest | $230,640 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$34,380 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $422,460 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $4,000 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $292 |
| Total operating and administrative expenses | $16,992 |
| Contributions, gifts, grants paid | $485,098 |
| Total expenses and disbursements | $502,090 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $458,740 |
| 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 | $10,465,482 |
| 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, Union Savings Bank Foundation Inc has awarded $437,275 in support to 126 organizations.
| Grant Recipient | Amount |
|---|---|
ABILITY BEYOND PURPOSE: EXEMPT PURPOSES | $100 |
AFTER SCHOOL ARTS PROGRAM PURPOSE: EXEMPT PURPOSES | $12,000 |
AMERICAN CANCER SOCIETY PURPOSE: EXEMPT PURPOSES | $25 |
ANIMAL WELFARE SOCIETY PURPOSE: EXEMPT PURPOSES | $3,000 |
ADVANCING CONNECTICUT TOGETHER PURPOSE: EXEMPT PURPOSES | $5,000 |
ANN'S PLACE INC PURPOSE: EXEMPT PURPOSES | $25,300 |