Jewett City Savings Bank Foundation Inc
- Assets
- $2.5m
- Revenue
- $576.5k
- Investments
- $2.4m
- Employees
- 0
- Location
- Jewett City, CT
- Founding
- 10/2003
- Data as of
- 12/2023
- EIN
- 13-4242396
Organization Overview
Jewett City Savings Bank Foundation Inc is located in Jewett City, CT. The organization was established in 2003. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Jewett City 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, Jewett City Savings Bank Foundation Inc generated $576.5k in total revenue. All expenses for the organization totaled $97.2k during the year ending 12/2023. While expenses have increased by 4.9% per year over the past 5 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 2019, Jewett City Savings Bank Foundation Inc has awarded 316 individual grants totaling $432,149. 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 |
|---|---|---|---|
Gary W Peloquin Chairman/director | 1 | $0 | |
Michael Alberts President/director | 1 | $0 | |
James A Mcdonald Treasurer | 1 | $0 | |
Diana L Rose Secretary | 1 | $0 | |
Brian A Andstrom Director | 1 | $0 | |
Diane L Manning Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $389,355 |
| Interest on Savings | $40,181 |
| Dividends & Interest | $28,045 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $118,882 |
| Capital Gain Net Income | $779,606 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $576,463 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $250 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $60 |
| Total operating and administrative expenses | $1,035 |
| Contributions, gifts, grants paid | $96,211 |
| Total expenses and disbursements | $97,246 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $32,862 |
| Savings and temporary cash investments | $44,751 |
| 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 | $1,831,128 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $22,042 |
| Total assets | $2,455,899 |
| Accounts payable and accrued expenses | $48,453 |
| 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 | $48,453 |
Grants Awarded
Over the last fiscal year, Jewett City Savings Bank Foundation Inc has awarded $103,411 in support to 64 organizations.
| Grant Recipient | Amount |
|---|---|
ALDRICH FREE PUBLIC LIBRARY PURPOSE: EXEMPT PURPOSES | $1,500 |
ATTAWAUGAN FIRE DEPARTMENT PURPOSE: EXEMPT PURPOSES | $1,000 |
AMERICAN LEGION AMBULANCE FUND PURPOSE: EXEMPT PURPOSES | $700 |
ATWOOD HOSE FIRE COMPANY PURPOSE: EXEMPT PURPOSES | $1,000 |
ATWOOD HOSE FIRE COMPANY PURPOSE: EXEMPT PURPOSES | $1,000 |
CANTERBURY VOLUNTEER FIRE DEPT & AMBULANCE PURPOSE: EXEMPT PURPOSES | $1,100 |