United Bank Foundation Connecticut Inc
- Assets
- $10.0m
- Revenue
- $2.2m
- Investments
- $9.7m
- Employees
- 0
- Location
- Vernon, CT
- Founding
- 01/2007
- Data as of
- 12/2022
- 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 12/2022, United Bank Foundation Connecticut Inc generated $2.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 19.1% each year . All expenses for the organization totaled $579.1k during the year ending 12/2022. While expenses have increased by 1.5% 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 2016, United Bank Foundation Connecticut Inc has awarded 826 individual grants totaling $3,307,717. 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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Bars President | 1 | $0 | |
Rosemarie Papa Vice President | 1 | $0 | |
Joann Smith Treasurer And Secretary | 1 | $0 | |
Adam Jeamel Director | 1 | $0 | |
Raymond Lefurge Director | 1 | $0 | |
Richard Trachimowicz Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $288,112 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,900,342 |
| Capital Gain Net Income | $1,900,342 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $7,542 |
| Total Revenue | $2,195,996 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $12,346 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $30,524 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,340 |
| Total operating and administrative expenses | $112,785 |
| Contributions, gifts, grants paid | $466,350 |
| Total expenses and disbursements | $579,135 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $262,987 |
| Savings and temporary cash investments | $18,327 |
| 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 | $9,674,413 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $9,955,727 |
| Accounts payable and accrued expenses | $152,500 |
| 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 | $38,072 |
| Total liabilities | $190,572 |
Grants Awarded
Over the last fiscal year, United Bank Foundation Connecticut Inc has awarded $466,350 in support to 65 organizations.
| Grant Recipient | Amount |
|---|---|
ASNUNTUCK COMMUNITY COLLEGE FOUNDATION PURPOSE: ADDITION TO SCHOLARSHIP FUND | $5,000 |
ASNUNTUCK COMMUNITY- TECHNICAL COLLEGE FOUNDATION PURPOSE: 50TH ANNIVERSARY EVENT SPONSORSHIP | $1,000 |
BROWN UNIVERSITY FBO ABIGAIL DONOVAN PURPOSE: ACADEMIC SCHOLARSHIP - SOUTH WINDSOR HIGH SCHOOL | $5,000 |
ASNUNTUCK COMMUNITY- TECHNICAL COLLEGE FOUNDATION PURPOSE: ESTABLISH PERPETUAL SCHOLARSHIP FUND | $10,000 |
BRYANT UNIVERSITY FBO VINCENT SIVO PURPOSE: ACADEMIC SCHOLARSHIP - ELLINGTON HIGH SCHOOL | $5,000 |
CLERGY EMERGENCY FUEL BANK (COVENTRY) PURPOSE: EMERGENCY FUEL FUNDING | $15,000 |