Chicopee Savings Bank Charitable Foundation
- Assets
- $7.1m
- Revenue
- $959.8k
- Investments
- $6.9m
- Employees
- 0
- Location
- Chicopee, MA
- Founding
- 12/2007
- Data as of
- 12/2022
- EIN
- 22-3940271
Organization Overview
Chicopee Savings Bank Charitable Foundation is located in Chicopee, MA. The organization was established in 2007. According to its NTEE Classification (T21) the organization is classified as: Corporate 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. Chicopee Savings Bank Charitable Foundation 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, Chicopee Savings Bank Charitable Foundation generated $959.8k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 49.6% each year . All expenses for the organization totaled $469.8k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Chicopee Savings Bank Charitable Foundation has awarded 154 individual grants totaling $2,794,910. 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 Hibner Treasurer | 1 | $0 | |
Gregg F Orlen Director | 1 | $0 | |
Theresa C Szlosek Secretary/director | 1 | $0 | |
Michael Sobon Director | 1 | $0 | |
Guida R Sajdak President/chairperson | 1 | $0 | |
William J Giokas Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2 |
| Dividends & Interest | $197,685 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $757,117 |
| Capital Gain Net Income | $1,367,226 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $5,000 |
| Total Revenue | $959,804 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $84,838 |
| Taxes | $20,090 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $7,428 |
| Total operating and administrative expenses | $125,125 |
| Contributions, gifts, grants paid | $344,700 |
| Total expenses and disbursements | $469,825 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $161,545 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $7,105,288 |
| 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 | $1,426,239 |
| Total liabilities | $1,426,239 |
Grants Awarded
Over the last fiscal year, Chicopee Savings Bank Charitable Foundation has awarded $726,250 in support to 55 organizations.
| Grant Recipient | Amount |
|---|---|
BOYS & GIRLS CLUB OF GREATER WESTFIELD PURPOSE: EXEMPT PURPOSE | $20,000 |
CLARKE SCHOOLS FOR HEARING & SPEECH PURPOSE: EXEMPT PURPOSE | $10,000 |
CHICOPEE BOYS AND GIRLS CLUB PURPOSE: EXEMPT PURPOSE | $17,500 |
DRESS FOR SUCCESS OF WESTERN MASS PURPOSE: EXEMPT PURPOSE | $5,000 |
DOUBLE EDGE THEATRE PURPOSE: EXEMPT PURPOSE | $5,000 |
EDUCARE SPRINGFIELD PURPOSE: EXEMPT PURPOSE | $20,000 |