United Bank Foundation Connecticut Inc
- Assets
- $11.8m
- Revenue
- $930.8k
- Investments
- $11.6m
- Employees
- 0
- Location
- Vernon, CT
- Founding
- 01/2007
- Data as of
- 12/2021
- EIN
- 20-3000295
Organization Overview
United Bank Foundation Connecticut Inc is located in Vernon, CT. The organization was established in 2007. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. United Bank Foundation Connecticut 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, United Bank Foundation Connecticut Inc generated $930.8k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.9% each year . All expenses for the organization totaled $209.7k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, United Bank Foundation Connecticut Inc has awarded 608 individual grants totaling $2,366,125. 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 |
|---|---|---|---|
Michael Bars President | 1 | $0 | |
Joann Smith Treasurer And Secretary | 1 | $0 | |
Adam Jeamel Director | 1 | $0 | |
Raymond Lefurge Director | 1 | $0 | |
Rosemarie Papa Vice President | 1 | $0 | |
Richard Trachimowicz Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $418,492 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $512,315 |
| Capital Gain Net Income | $512,315 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $930,807 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $5,427 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $12,548 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $509 |
| Total operating and administrative expenses | $65,754 |
| Contributions, gifts, grants paid | $143,900 |
| Total expenses and disbursements | $209,654 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $62,836 |
| Savings and temporary cash investments | $98,687 |
| 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 | $11,644,747 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $11,806,270 |
| Accounts payable and accrued expenses | $88,400 |
| 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 | $7,548 |
| Total liabilities | $95,948 |
Grants Awarded
Over the last fiscal year, United Bank Foundation Connecticut Inc has awarded $143,900 in support to 36 organizations.
| Grant Recipient | Amount |
|---|---|
ALLIED REHABILITATION CENTERS INC PURPOSE: SPORTS/RECREATION PROGRAM | $10,000 |
ASNUNTUCK COMMUNITY COLLEGE PURPOSE: ENDOWED SCHOLARSHIP | $10,000 |
NETWORK AGAINST DOMESTIC ABUSE PURPOSE: ABUSE PREVENTION EDUCATION | $10,000 |
MANCHESTER COMMUNITY COLLEGE FOUNDATION PURPOSE: ENDOWED SCHOLARSHIP | $10,000 |
BENTLEY UNIVERSITY PURPOSE: ACADEMIC SCHOLARSHIP | $5,000 |
HOCKANUM VALLEY COMMUNITY COUNCIL PURPOSE: 2021 SUPPORT | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Brooklyn Navy Yard Development Corporation Brooklyn, NY | $543,633,704 | $68,378,369 |
Cent For Urban Community Svcs New York, NY | $78,734,129 | $72,768,234 |
The Community Preservation Corporation New York, NY | $1,407,109,282 | $65,839,600 |
Quincy Community Action Programs Inc Quincy, MA | $14,865,186 | $43,148,267 |
Westchester Community Opportunity Program Inc Elmsford, NY | $7,932,264 | $37,716,573 |
St Nicks Alliance Corp Brooklyn, NY | $44,353,994 | $35,596,992 |
National Council For Community Development Inc Brooklyn, NY | $24,193,687 | $38,165,020 |
The Community Action Organization Of Western New York Inc Buffalo, NY | $11,956,609 | $31,001,421 |
Community Action Pioneer Valley Inc Greenfield, MA | $7,969,732 | $29,838,934 |
Citizens For Citizens Inc Fall River, MA | $12,279,316 | $29,399,731 |
The Mayors Fund To Advance New York City New York, NY | $28,518,749 | $18,611,480 |
South Shore Community Action Council Inc Plymouth, MA | $12,504,709 | $24,231,175 |