Business-Education Foundation Inc
- Assets
- $88.4k
- Revenue
- $19.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Bristol, CT
- Founding
- 09/1991
- Data as of
- 12/2022
- EIN
- 22-3096098
Organization Overview
Business-Education Foundation Inc, operating under the name Co Central Ct Chambers Of Commerce, is located in Bristol, CT. The organization was established in 1991. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Co Central CT Chambers Of Commerce 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, Co Central CT Chambers Of Commerce generated $19.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (14.9%) each year. All expenses for the organization totaled $33.2k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PRIMARY EXEMPT PURPOSE OF THE ORGANIZATION IS TO PROMOTE BUSINESS EDUCATION IN BRISTOL, CT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION GAVE GRANTS TO BRISTOL TEACHERS AND SCHOOLS GIVING THEM THE OPPORTUNITY TO CREATE VARIOUS PROJECTS THROUGHOUT THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Catherine Bailey Trustee/dire | Trustee | $0 | |
Cynthia Bombard Treasurer | OfficerTrustee | $0 | |
Richard Browning Trustee/dire | Trustee | $0 | |
Brian Burke Trustee/dire | Trustee | $0 | |
Michelle Crowley Trustee/dire | Trustee | $0 | |
Catherine Carbone Edd Trustee/dire | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,315 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,315 |
| Total Program Service Revenue | $0 |
| Investment income | $111 |
| 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 | $9,048 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,474 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,750 |
| Grants and other assistance to domestic individuals. | $22,834 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $2,700 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $325 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $436 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $600 |
| All other expenses | $0 |
| Total functional expenses | $33,243 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,664 |
| Savings and temporary cash investments | $67,695 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $88,359 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $82,802 |
| Net assets with donor restrictions | $5,557 |
| 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 | $88,359 |
Grants Awarded
Over the last fiscal year, Business-Education Foundation Inc has awarded $21,692 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
BRISTOL CHAMBER OF COMMERCE | | | $7,000 |
CITY OF BRISTOL | | | $14,692 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Student Sponsor Partnership Inc New York, NY | $26,288,524 | $9,399,138 |
Walnut Hill Properties Corporation Medford, MA | $20,647,441 | $3,380,483 |
Justice Resource Center New York, NY | $2,377,382 | $448,533 |
Needham Education Foundation Inc Needham, MA | $1,534,281 | $169,520 |
Mission Hill Community School Council Inc Boston, MA | $8,257 | $0 |
Westchester County Association Of Municipal Public Works Scarsdale, NY | $117,997 | $0 |
Business-Education Foundation Inc Bristol, CT | $88,359 | $19,474 |
Ventures In Education Inc New York, NY | $543,022 | $16,275 |
Billerica Partners For Education Inc Billerica, MA | $56,506 | $0 |
Reid Fam Foundation Lockport, NY | $503,657 | $49,977 |
Haverhill Education Foundation Inc Groveland, MA | $1,005,794 | $914,160 |
Center For Youth & Community Inc Glastonbury, CT | $0 | $0 |
Cbia Education Foundation Inc Hartford, CT | $0 | $0 |