Community Foundation Of Greater New Britain Inc
- Assets
- $56.7m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 7
- Location
- New Britain, CT
- Founding
- 04/1943
- Data as of
- 12/2023
- EIN
- 06-6036461
Organization Overview
Community Foundation Of Greater New Britain Inc is located in New Britain, CT. The organization was established in 1943. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2023, Community Foundation Of Greater New Britain Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Community Foundation Of Greater New Britain 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, Community Foundation Of Greater New Britain Inc generated $3.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $3.3m during the year ending 12/2023. While expenses have increased by 1.9% per year over the past 8 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 2016, Community Foundation Of Greater New Britain Inc has awarded 441 individual grants totaling $10,326,368. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
INSPIRE PHILANTHROPY, MANAGE PERMANENT CHARITABLE ASSETS, AND ADDRESS KEY COMMUNITY ISSUES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY RESPONSE GRANTS WHICH SUPPORT PROGRAMS AND ORGANIZATIONS SERVING POPULATIONS IN THE FOUNDATION'S HEALTH & HUMAN SERVICE AND COMMUNITY & ECONOMIC DEVELOPMENT AREAS OF INTEREST.
FIRST YEARS FIRST EARLY CHILDHOOD DEVELOPMENT INITIATIVE GRANTS, COMMUNITY RESPONSE GRANTS WHICH SUPPORT PROGRAMS AND ORGANIZATIONS SERVING POPULATIONS IN THE FOUNDATION'S EDUCATION AREA OF INTEREST, AND SCHOLARSHIP AWARDS.
COMMUNITY RESPONSE GRANTS WHICH SUPPORT PROGRAMS AND ORGANIZATIONS SERVING POPULATIONS IN THE FOUNDATION'S ARTS, CULTURE & HERITAGE AREA OF INTEREST.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Arthur Schaller Board Chair | OfficerTrustee | 4 | $0 |
Adam Salina Vice Chair | OfficerTrustee | 4 | $0 |
John Cookley Treasurer | OfficerTrustee | 4 | $0 |
Zachary Alexander Director | Trustee | 2 | $0 |
Timothy Fitzpatrick Director | Trustee | 2 | $0 |
Jerrell Hargraves Director | Trustee | 2 | $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 | $846,116 |
| Noncash contributions included in lines 1a–1f | $1,173 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $846,116 |
| Total Program Service Revenue | $0 |
| Investment income | $1,115,633 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $27,175 |
| Net Gain/Loss on Asset Sales | $1,044,957 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,040,968 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,444,955 |
| Grants and other assistance to domestic individuals. | $301,435 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $361,306 |
| Compensation of current officers, directors, key employees. | $212,125 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $355,747 |
| Pension plan accruals and contributions | $23,545 |
| Other employee benefits | $44,870 |
| Payroll taxes | $49,574 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,493 |
| Fees for services: Accounting | $29,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $286,722 |
| Fees for services: Other | $78,451 |
| Advertising and promotion | $29,176 |
| Office expenses | $30,203 |
| Information technology | $69,725 |
| Royalties | $0 |
| Occupancy | $26,077 |
| Travel | $3,325 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $20,621 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $45,229 |
| Insurance | $8,574 |
| All other expenses | $51,446 |
| Total functional expenses | $3,262,474 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $138,468 |
| Savings and temporary cash investments | $1,139,818 |
| Pledges and grants receivable | $100 |
| Accounts receivable, net | $0 |
| 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 | $18,945 |
| Net Land, buildings, and equipment | $345,135 |
| Investments—publicly traded securities | $55,097,221 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $56,739,687 |
| Accounts payable and accrued expenses | $72,151 |
| Grants payable | $47,975 |
| 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 | $120,126 |
| Net assets without donor restrictions | $56,557,828 |
| Net assets with donor restrictions | $61,733 |
| 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 | $56,739,687 |
Grants Awarded
Over the last fiscal year, Community Foundation Of Greater New Britain Inc has awarded $1,260,909 in support to 54 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN RED CROSS CONNECTICUT CHAPTER PURPOSE: FOR SERVICE AND ACTIVITY IN GREATER NEW BRITAIN AREA | $5,218 |
ANNUNCIATION PARISH PURPOSE: FOR THE BETTERMENT OF THE LOCAL PARISH | $5,218 |
ARTHRITIS FOUNDATION INC CONNECTICUT MARKET - FOUNDATIONS PURPOSE: SERVICE AND ACTIVITY IN THE GREATER HARTFORD AREA | $5,218 |
BARNES MUSEUM PURPOSE: PRESERVATION AND BEAUTIFICATION PROJECT AT SOUTHINGTON'S BARNES MUSEUM | $8,000 |
BERLIN EQUITY ACTION TEAM PURPOSE: BEAT CAPACITY BUILDING, JUNETEENTH | $11,000 |
BEST BUDDIES IN CONNECTICUT PURPOSE: BEST BUDDIES IN CONNECTICUT FRIENDSHIP AND LEADERSHIP DEVELOPMENT PROGRAM | $15,500 |