Newtown Savings Bank Foundation Inc
- Assets
- $5.4m
- Revenue
- $1.1m
- Investments
- $5.3m
- Employees
- 0
- Location
- Newtown, CT
- Founding
- 07/2000
- Data as of
- 09/2023
- EIN
- 06-1514980
Organization Overview
Newtown Savings Bank Foundation Inc is located in Newtown, CT. The organization was established in 2000. According to its NTEE Classification (T21) the organization is classified as: Corporate 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. Newtown 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 09/2023, Newtown Savings Bank Foundation Inc generated $1.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 37.6% each year . All expenses for the organization totaled $227.1k during the year ending 09/2023. While expenses have increased by 12.9% per year over the past 7 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, Newtown Savings Bank Foundation Inc has awarded 386 individual grants totaling $1,034,250. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth L Weinstein President/director | 1 | $0 | |
William J Mccarthy SVP | 1 | $0 | |
Julia Douglas Secretary | 1 | $0 | |
Carrie L Amos Director | 1 | $0 | |
William A Brimmer Jr Director | 1 | $0 | |
Alan J Clavette Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,037,229 |
| Interest on Savings | $0 |
| Dividends & Interest | $163,276 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$96,821 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,103,684 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,800 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $39 |
| Total operating and administrative expenses | $27,604 |
| Contributions, gifts, grants paid | $199,500 |
| Total expenses and disbursements | $227,104 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $49,753 |
| 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 | $2,719,876 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $5,393,611 |
| 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, Newtown Savings Bank Foundation Inc has awarded $199,500 in support to 75 organizations.
| Grant Recipient | Amount |
|---|---|
AMOS HOUSE PURPOSE: EXEMPT PURPOSE | $2,000 |
BEDROCK CREDIT AMERICA PURPOSE: EXEMPT PURPOSE | $2,000 |
BETHEL HIGH SCHOOL PURPOSE: EXEMPT PURPOSE | $1,500 |
BOYS AND GIRLS VILLAGE PURPOSE: EXEMPT PURPOSE | $1,000 |
BRIDGEPORT RESCUE MISSION PURPOSE: EXEMPT PURPOSE | $3,500 |
BRIDGEPORT CARIBE YOUTH LEADERS PURPOSE: EXEMPT PURPOSE | $1,500 |