Community Foundation Of Greater New Britain Inc
- Assets
- $61.0m
- Revenue
- $6.2m
- Investments
- $0.0
- Employees
- 7
- Location
- New Britain, CT
- Founding
- 04/1943
- Data as of
- 12/2021
- 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 12/2021, 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 12/2021, Community Foundation Of Greater New Britain Inc generated $6.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $2.9m during the year ending 12/2021. 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 295 individual grants totaling $6,707,800. 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
2021
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.
PUBLIC, SOCIETY BENEFIT PROGRAMS:FOUNDATION PROGRAM EXPENSES
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Obedzinski President And Secretary | Officer | 40 | $165,357 |
Robert Trojanowski VP And CFO | Officer | 40 | $121,523 |
Adam Salina Vice Chair | OfficerTrustee | 4 | $0 |
Arthur Schaller Board Chair | OfficerTrustee | 4 | $0 |
John Cookley Treasurer | OfficerTrustee | 4 | $0 |
Zachary Alexander Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $102,298 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,091,108 |
| Noncash contributions included in lines 1a–1f | $7,461 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,193,406 |
| Total Program Service Revenue | $0 |
| Investment income | $1,853,099 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $30,588 |
| Net Gain/Loss on Asset Sales | $3,093,010 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,176,335 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,248,698 |
| Grants and other assistance to domestic individuals. | $300,439 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $332,804 |
| Compensation of current officers, directors, key employees. | $211,402 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $314,011 |
| Pension plan accruals and contributions | $25,211 |
| Other employee benefits | $58,944 |
| Payroll taxes | $44,707 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,728 |
| Fees for services: Accounting | $26,936 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $288,435 |
| Fees for services: Other | $47,840 |
| Advertising and promotion | $67,022 |
| Office expenses | $20,570 |
| Information technology | $41,143 |
| Royalties | $0 |
| Occupancy | $27,176 |
| Travel | $1,451 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,699 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $37,690 |
| Insurance | $6,648 |
| All other expenses | $30,152 |
| Total functional expenses | $2,940,304 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $143,704 |
| Savings and temporary cash investments | $905,578 |
| Pledges and grants receivable | $14,093 |
| Accounts receivable, net | $6,560 |
| 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 | $16,454 |
| Net Land, buildings, and equipment | $379,686 |
| Investments—publicly traded securities | $59,577,717 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $61,043,792 |
| Accounts payable and accrued expenses | $80,284 |
| Grants payable | $97,561 |
| 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 | $2,610 |
| Total liabilities | $180,455 |
| Net assets without donor restrictions | $60,748,766 |
| Net assets with donor restrictions | $114,571 |
| 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 | $61,043,792 |
Grants Awarded
Over the last fiscal year, Community Foundation Of Greater New Britain Inc has awarded $1,096,144 in support to 48 organizations.
| Grant Recipient | Amount |
|---|---|
New Britain, CT PURPOSE: TO PROVIDE 2021 DESIGNATED GRANT | $261,470 |
New Britain, CT PURPOSE: TO SUPPORT MEDICAL RESEARCH RELATING TO INPATIENT CARE AND TO DIRECTLY BENEFIT INPATIENT IN OTHER WAYS | $70,470 |
New Britain, CT PURPOSE: TO SUPPORT VARIOUS PROGRAMS | $66,311 |
CONSOLIDATED SCHOOL DISTRICT OF NEW BRITAIN PURPOSE: TO PROVIDE SUPPORT FOR SUMMER LEARNING EXPERIENCES | $40,000 |
New Britain, CT PURPOSE: TO PROVIDE SUPPORT FOR COMMUNITY SEEDS LIBRARY AND OPERATING SUPPORT | $36,600 |
SOUTHINGTON PUBLIC SCHOOLS PURPOSE: TO PROVIDE SUPPORT FOR SOUTHINGTON FAMILY RESOURCE CENTER | $35,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Community Foundation Of Greater New Britain Inc has recieved totaling $5,250.
| Awarding Organization | Amount |
|---|---|
Farmington Bank Community Foundation Inc Hartford, CT PURPOSE: CAPACITY BUILDING WORKSHOPS | $5,000 |
Farmington Bank Community Foundation Inc Hartford, CT PURPOSE: BOARD/EMPLOYEE MATCH | $250 |
Endowment Analysis
| Beg. Balance | $53,716,608 |
| Earnings | $6,072,918 |
| Net Contributions | $1,091,108 |
| Grants | $1,302,917 |
| Ending Balance | $59,577,717 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Foundation Of Western Massachusetts Springfield, MA | $263,677,089 | $50,890,910 |
Essex County Community Foundation Incorporated Danvers, MA | $116,029,343 | $28,414,247 |
Community Foundations Of The Hudson Valley Poughkeepsie, NY | $96,104,226 | $20,607,422 |
The Berkshire Taconic Community Foundation Inc Sheffield, MA | $235,546,714 | $26,961,716 |
Greater Worcester Community Foundation Inc Worcester, MA | $200,476,252 | $22,847,423 |
Community Foundation Of Herkimer And Oneida Counties Inc Utica, NY | $207,402,752 | $30,922,448 |
Community Foundation Of Eastern Connecticut New London, CT | $123,416,332 | $10,480,728 |
Southcoast Community Foundation Inc New Bedford, MA | $53,147,669 | $13,725,688 |
The Community Foundation For The Greater Capital Region Inc Albany, NY | $120,227,075 | $24,885,752 |
Connecticut Community Foundation Inc Waterbury, CT | $154,014,275 | $11,174,882 |
Adirondack Foundation Lake Placid, NY | $81,334,603 | $18,009,853 |
New York City Partnership Foundation Inc New York, NY | $45,208,462 | $5,342,641 |