Connelly Foundation
- Assets
- $387.9m
- Revenue
- $27.9m
- Investments
- $382.6m
- Employees
- 0
- Location
- West Conshohocken, PA
- Founding
- 03/1960
- Data as of
- 12/2021
- EIN
- 23-6296825
Organization Overview
Connelly Foundation is located in West Conshohocken, PA. The organization was established in 1960. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Connelly 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 12/2021, Connelly Foundation generated $27.9m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 12.2% each year . All expenses for the organization totaled $19.5m during the year ending 12/2021. While expenses have increased by 6.9% per year over the past 4 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 2020, Connelly Foundation has awarded 364 individual grants totaling $31,283,224. 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 |
|---|---|---|---|
Thomas A Riley President & Trustee | 40 | $368,253 | |
Valerie K Martin CFO & Treasurer | 40 | $229,105 | |
Frances T Burns COO & Secretary | 40 | $214,211 | |
Timothy J Durkin Vice President Grantmaking | 40 | $189,651 | |
Josephine C Mandeville Chair & Trustee | 16 | $155,769 | |
Joseph D Frangiosa Controller | 40 | $133,357 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Design Group International | 12/30/21 | $76,000 |
Callan Associates Inc | 12/30/21 | $71,643 |
Systemsnet | 12/30/21 | $66,338 |
Baker Tilly Us Llp | 12/30/21 | $54,882 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,700 |
| Interest on Savings | $21,980 |
| Dividends & Interest | $4,525,692 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $22,155,860 |
| Capital Gain Net Income | $21,063,607 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,185,199 |
| Total Revenue | $27,891,431 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $1,458,355 |
| Other employee salaries and wages | $709,294 |
| Pension plans, employee benefits | $595,624 |
| Interest | $0 |
| Taxes | $830,815 |
| Depreciation | $118,837 |
| Occupancy | $289,245 |
| Travel, conferences, and meetings | $16,345 |
| Printing and publications | $1,628 |
| Other expenses | $2,329,379 |
| Total operating and administrative expenses | $6,521,522 |
| Contributions, gifts, grants paid | $12,936,019 |
| Total expenses and disbursements | $19,457,541 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,398,123 |
| 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 | $16,242 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $382,638,724 |
| Net Land, buildings, and equipment | $923,600 |
| Other assets | $2,936,337 |
| Total assets | $387,913,026 |
| Accounts payable and accrued expenses | $352,648 |
| Grants payable | $9,515,795 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $3,828,055 |
| Total liabilities | $13,696,498 |
Grants Awarded
Over the last fiscal year, Connelly Foundation has awarded $13,832,224 in support to 358 organizations.
| Grant Recipient | Amount |
|---|---|
PHILADELPHIA INDEPENDENT MISSION SCHOOLS PURPOSE: REIMAGINING OUR FUTURE: INDEPENDENCE MISSION SCHOOLS 2026 | $1,000,000 |
Philadelphia, PA PURPOSE: AOP HIGH SCHOOL TRANSFER GRANTS | $713,000 |
ARCHDIOCESE OF PHILADELPHIA - JOSEPHINE C CONNELLY ACHIEVEMENT AWARDS PURPOSE: JCC ACHIEVEMENT AWARDS - 2021-22 | $641,226 |
ARCHDIOCESE OF PHILADELPHIA - NEUMANN SCHOLARS PROGRAM PURPOSE: NEUMANN SCHOLARSHIPS - 2021-22 | $534,650 |
OFFICE OF CATHOLIC EDUCATION - ARCHDIOCESE OF PHILADELPHIA PURPOSE: CAP 2021-22 | $500,050 |
Rosemont, PA PURPOSE: CAPITAL SUPPORT | $500,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Arnhold Foundation Inc New York, NY | $497,481,101 | $53,665,580 |
Prudential Foundation Inc Newark, NJ | $137,651,624 | $53,115,847 |
The Grace And Mercy Foundation Inc New York, NY | $617,102,449 | $100,220,039 |
Peter G Peterson Foundation New York, NY | $1,055,700,983 | $50,280,779 |
Leon Levy Foundation New York, NY | $614,122,389 | $121,596,253 |
Shubert Foundation Inc New York, NY | $671,108,588 | $57,657,953 |
J Howard Pew Freedom Tr Philadelphia, PA | $675,828,558 | $64,346,772 |
J Willard And Alice S Marriott Foundation Bethesda, MD | $441,340,618 | $31,840,539 |
Mccune Foundation Pittsburgh, PA | $180,488,577 | $38,182,239 |
Aurora Foundation Wilmington, DE | $762,186,529 | $34,829,057 |
Hauser Foundation Inc New York, NY | $0 | $9,971,722 |
Pinkerton Foundation New York, NY | $0 | $34,479,499 |