Westbrook Foundation Inc
- Assets
- $8.9m
- Revenue
- $439.2k
- Investments
- $8.7m
- Employees
- 0
- Location
- Westbrook, CT
- Founding
- 08/1985
- Data as of
- 12/2023
- EIN
- 22-2549826
Organization Overview
Westbrook Foundation Inc is located in Westbrook, CT. The organization was established in 1985. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Westbrook 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, Westbrook Foundation Inc generated $439.2k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 8.1% each year. All expenses for the organization totaled $545.8k during the year ending 12/2023. While expenses have increased by 4.5% per year over the past 9 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 2015, Westbrook Foundation Inc has awarded 467 individual grants totaling $2,931,251. 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 Mission:
Part 3 - Line 1
TO ADMINISTER FUNDS WHOSE INCOME IS TO BE USED FOR THE BENEFIT OF RESIDENTS OF THE TOWN OF WESTBROOK.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE WESTBROOK FOUNDATION, INC. ADMINISTERS THE BARBARA SPENCER MEMORIAL FUND, WHICH WAS ESTABLISHED TO BENEFIT THE PEOPLE OF THE TOWN OF WESTBROOK, CT. DONATIONS WERE MADE TO FUND SCHOLARSHIPS FOR SUMMER CAMP PROGRAMS AT CAMP HAZEN, TO PROVIDE FINANCIAL ASSISTANCE FOR THE LOCAL YOUTH FOOTBALL LEAGUE, TO MAKE RENOVATIONS AT THE LOCAL YMCA, TO FUND A LOCAL RENOVATION PROJECTS, TO SUPPORT THE SHORELINE SOUP KITCHENS, AND TO PROVIDE FINANCIAL ASSISTANCE TO THE TOWN AND OTHER WESTBROOK ORGANIZATIONS.
THE WESTBROOK FOUNDATION, INC. ADMINISTERS SEVERAL SCHOLARSHIP FUNDS ESTABLISHED TO MEET THE EDUCATIONAL NEEDS OF RESIDENTS OF THE TOWN OF WESTBROOK, CT (POPULATION APPROXIMATELY 7,000). 50 RESIDENTS RECEIVED SCHOLARSHIPS IN 2018 TO ASSIST THEM IN PAYING THEIR COLLEGE TUITION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joan Angelini Director | 1 | $0 | |
Mike Engels Vice Chair | 1 | $0 | |
Julie Campbell Director | 1 | $0 | |
Kathleen Cietanno Director | 1 | $0 | |
Paul Winch Chairperson | 2 | $0 | |
Jeff Dickey Treasurer | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $5,129 |
| Interest on Savings | $0 |
| Dividends & Interest | $324,504 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $109,584 |
| Capital Gain Net Income | $109,584 |
| Net ST Capital Gain | $109,584 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $439,217 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $15,000 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $9,852 |
| Other expenses | $12,493 |
| Total operating and administrative expenses | $145,155 |
| Contributions, gifts, grants paid | $400,660 |
| Total expenses and disbursements | $545,815 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $159,583 |
| 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 | $285,258 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $8,898,965 |
| 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, Westbrook Foundation Inc has awarded $400,660 in support to 85 organizations.
| Grant Recipient | Amount |
|---|---|
FIRST CONGREGATIONAL CHURCH OF WEST PURPOSE: GRANT FOR FELLOWSHIP HALL AIR CONDITIONING | $26,560 |
TOWN OF WESTBROOK PURPOSE: GRANTS TO BENEFIT THE RESIDENTS OF THE TOWN OF WESTBROOK | $22,823 |
HIGH HOPES THERAPEUTIC RIDING PURPOSE: SCHOLARSIP ASSISTANCE | $2,500 |
DANIEL GENOVESE PURPOSE: COLLEGE SCHOLARSHIP | $2,500 |
HALLEY PIERSON PURPOSE: COLLEGE SCHOLARSHIP | $4,250 |
JAMES GRACE PURPOSE: COLLEGE SCHOLARSHIP | $2,500 |