Prospect Hill Foundation Inc
- Assets
- $8.3m
- Revenue
- $2.8m
- Investments
- $7.5m
- Employees
- 0
- Location
- New Canaan, CT
- Founding
- 12/2007
- Data as of
- 12/2022
- EIN
- 20-5572208
Organization Overview
Prospect Hill Foundation Inc is located in New Canaan, CT. The organization was established in 2007. 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. Prospect Hill 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 12/2022, Prospect Hill Foundation Inc generated $2.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (11.3%) each year. All expenses for the organization totaled $432.5k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Prospect Hill Foundation Inc has awarded 22 individual grants totaling $1,109,610. 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 |
|---|---|---|---|
Meghan W Cioffi President & Trustee | 0 | $0 | |
Robert F Cioffi Vice President & Trustee | 0 | $0 | |
Mary D Walsh Vice President & Trustee | 0 | $0 | |
Abigail Gobble Dematteo Vice President & Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $5,698 |
| Dividends & Interest | $153,482 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,648,708 |
| Capital Gain Net Income | $2,648,708 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $2,807,888 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $4,286 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $506 |
| Total operating and administrative expenses | $92,573 |
| Contributions, gifts, grants paid | $339,900 |
| Total expenses and disbursements | $432,473 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $192,178 |
| Savings and temporary cash investments | $0 |
| 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 | $478,500 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $662,725 |
| Total assets | $8,306,146 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
Grants Awarded
Over the last fiscal year, Prospect Hill Foundation Inc has awarded $339,900 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
NEW CANAAN CHAMBER CHARITABLE FOUNDATION PURPOSE: GENERAL PURPOSE | $1,000 |
ONE WORLD SURGERY PURPOSE: GENERAL PURPOSE | $5,000 |
NCHS SCHOLARSHIP FOUNDATION PURPOSE: GENERAL PURPOSE | $25,000 |
NORWALK HOSPITAL PURPOSE: GENERAL PURPOSE | $50,000 |
PROJECT MAIN STREET PURPOSE: GENERAL PURPOSE | $25,000 |
ST LUKE'S SCHOOL PURPOSE: GENERAL PURPOSE | $25,000 |