Business Industry Foundation Of Middlesex County Inc
- Assets
- $908.9k
- Revenue
- $782.5k
- Investments
- $0.0
- Employees
- 97
- Location
- Middletown, CT
- Founding
- 04/1987
- Data as of
- 06/2023
- EIN
- 22-2793181
Organization Overview
Business Industry Foundation Of Middlesex County Inc is located in Middletown, CT. The organization was established in 1987. According to its NTEE Classification (J20) the organization is classified as: Employment Preparation & Procurement, under the broad grouping of Employment and related organizations. As of 06/2023, Business Industry Foundation Of Middlesex County Inc employed 97 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Business Industry Foundation Of Middlesex County 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 06/2023, Business Industry Foundation Of Middlesex County Inc generated $782.5k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $701.5k during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
CONDUCTING PROGRAMS TO BENEFIT THE BUSINESS COMMUNITY IN MIDDLESEX COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WORKER PREPARATION AND TRAINING PROGRAMS INCLUDING THOSE DESIGNED TO HELP WELFARE RECIPIENTS AND DISADVANTAGED YOUTH DEVELOP WORK RELATED DISCIPLINES AND THOSE DESIGNED TO PROVIDE JOB TRAINING. AN ENTREPRENEURIAL AND BUSINESS DEVELOPMENT COURSE, DESIGNED TO ASSIST MINORITY SMALL BUSINESS TO BECOME MORE SUCCESSFUL BY DEVELOPING THE ATTITUDES, SKILLS AND QUALITIES NECESSARY FOR EFFECTIVE BUSINESS OWNERSHIP AND SUCCESS.
THE RECOVERY EMPLOYMENT PROGRAM (REP) HELPS THOSE IN RECOVERY REBUILD LIVES THAT HAVE BEEN TORN AND RIPPED APART DUE TO ADDICTION. MANY DON'T SEE A WAY OUT, OR NO HOPE. BUT WITH THE REP, THERE IS. WE OFFER EMPLOYMENT TO MANY WHO EVEN SEE THEMSELVES AS UNEMPLOYABLE. WHY? MANY HAVE THE PROPER SKILLS SETS, BUT ARE LACKING SELF-ESTEEM DUE THEIR PAST ADDICTION. HOWEVER, THE RECOVERY EMPLOYMENT PROGRAM REASSERTS CONFIDENCE IN THE JOB APPLICANT'S ABILITIES AND IN THEMSELVES AS THEY GAIN EMPLOYMENT. WE OFFER JOB COACHING AS WELL AS COUNSEL. THIS IS NOT JUST A JOB PLACEMENT PROGRAM, BUT IT IS A LIFE SKILL PROGRAM THAT WILL HELP PEOPLE IN RECOVERY WITH THE LIFE SKILLS THEY NEED THROUGH THE COACHING ASPECT OF THE PROGRAM.THE RECOVERY EMPLOYMENT PROGRAM, IS A PROGRAM WITH OPPORTUNITIES.THIS PROGRAM WILL SERVE THE COMMUNITY OF THOSE WHO ARE IN RECOVERY AND PUTTING THEIR LIVES BACK TOGETHER. TOGETHER AS A COMMUNITY WE CAN HELP THEM TAKE THE NECESSARY STEPS ON THEIR ROAD.
MEWS - THE MIDDLETOWN ENTREPRENEURS WORK SPACE (MEWS+) IS CO-WORKING INITIATIVE DESIGNED FOR STARTUPS, SMALL BUSINESSES, ENTREPRENEURS, FREELANCERS, AND THE WESLEYAN UNIVERSITY COMMUNITY.THE FOCUS IS TO CREATE A SPACE FOR ENTREPRENEURS TO COLLABORATE AND TURN IDEAS INTO BUSINESSES; ENCOURAGE COMMUNICATION BETWEEN PUBLIC, PRIVATE, AND INSTITUTIONAL ORGANIZATIONS; AND DEVELOP AN INNOVATIVE PARTNERSHIP OF ENTREPRENEURS AND PROFESSIONAL RESOURCES TO BOLSTER ECONOMIC GROWTH IN MIDDLESEX COUNTY.
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 |
|---|---|---|---|
Lawrence Mchugh Former Secretary - Through 12/31/22 | OfficerTrustee | 31 | $0 |
Johanna Bond Secretary - Starting 1/1/23 | OfficerTrustee | 31 | $0 |
Darlene Briggs President | OfficerTrustee | 1 | $0 |
Jay Polke Vice President | OfficerTrustee | 1 | $0 |
Andrea Fassler Chairwoman | OfficerTrustee | 1 | $0 |
Anthony Salvatore Vice Chairman | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $388,324 |
| All other contributions, gifts, grants, and similar amounts not included above | $393,593 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $781,917 |
| Total Program Service Revenue | $0 |
| Investment income | $580 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $782,497 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $114,539 |
| Pension plan accruals and contributions | $1,691 |
| Other employee benefits | $1,389 |
| Payroll taxes | $9,966 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,941 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,268 |
| Advertising and promotion | $30,178 |
| Office expenses | $1,028 |
| Information technology | $5,021 |
| Royalties | $0 |
| Occupancy | $100,193 |
| Travel | $3,330 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,345 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,853 |
| All other expenses | $332 |
| Total functional expenses | $701,529 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $474,869 |
| Savings and temporary cash investments | $391,953 |
| Pledges and grants receivable | $4,940 |
| Accounts receivable, net | $37,133 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $908,895 |
| Accounts payable and accrued expenses | $73,519 |
| Grants payable | $0 |
| Deferred revenue | $68,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $151,618 |
| Total liabilities | $293,137 |
| Net assets without donor restrictions | $548,902 |
| Net assets with donor restrictions | $66,856 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $908,895 |
Grants Awarded
Over the last fiscal year, Business Industry Foundation Of Middlesex County Inc has awarded $26,285 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
TRI TOWN YOUTH SERVICES PURPOSE: SUBST ABUSE PREVENTION | $8,106 |
MIDDLETOWN SUBSTANCE COUNCIL YOUTH SERVICES DEPT OF SCHOOL SYSTEM PURPOSE: SUBST ABUSE PREVENTION | $7,142 |
DURHAM MIDDLEFIELD YOUTH AND FAMILY SERVICES PURPOSE: SUBST ABUSE PREVENTION | $5,141 |
YOUTH AND FAMILY SERVICES OF HADDAM-KILLINGWORTH PURPOSE: SUBST ABUSE PREVENTION | $5,896 |