Guilford A Better Chance Inc
- Assets
- $1.2m
- Revenue
- $571.9k
- Investments
- $718.9k
- Employees
- 13
- Location
- Guilford, CT
- Founding
- 12/1974
- Data as of
- 06/2022
- EIN
- 23-7417687
Organization Overview
Guilford A Better Chance Inc is located in Guilford, CT. The organization was established in 1974. According to its NTEE Classification (P29) the organization is classified as: Thrift Shops, under the broad grouping of Human Services and related organizations. As of 06/2022, Guilford A Better Chance Inc employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Guilford A Better Chance 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 06/2022, Guilford A Better Chance Inc generated $571.9k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.3% each year . All expenses for the organization totaled $466.0k during the year ending 06/2022. While expenses have increased by 9.5% per year over the past 7 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
GUILFORD ABC IS A LIFE-CHANGING PROGRAM THAT OFFERS ACADEMICALLY GIFTED GIRLS OF COLOR THE OPPORTUNITY TO ATTEND GUILFORD HIGH SCHOOL, LIVE IN A CARING COMMUNITY SURROUNDED BY A STRONG PROFESSIONAL SUPPORT TEAM, AND REALIZE THEIR INDIVIDUAL POTENTIAL. THESE YOUNG WOMEN, CHOSEN FROM MANY APPLICANTS TO THE NATIONAL ABC PROGRAM, COME FROM UNDER-REPRESENTED COMMUNITIES WHERE THEY LACK ACCESS TO QUALITY EDUCATIONAL EXPERIENCES. OUR PROGRAM'S PRIMARY MISSION IS TO PROVIDE THESE SCHOLARS WITH A BETTER CHANCE TO EXCEL IN HIGH SCHOOL, ATTEND A QUALITY COLLEGE OR UNIVERSITY, AND LEAD A FULFILLING PERSONAL AND PROFESSIONAL LIFE.GUILFORD ABC, WHICH OPENED ITS DOORS IN 1974, WAS ONE OF THE VERY FIRST COMMUNITY-BASED ABC PROGRAMS IN THE NATION. SINCE ITS INCEPTION, GUILFORD ABC HAS SENT MORE THAN 55 YOUNG WOMEN ON TO COLLEGES AND UNIVERSITIES IN THE COUNTRY, MANY OF THEM ON FULL ACADEMIC SCHOLARSHIPS. GIVEN THEIR ACHIEVEMENTS, MANY OF THESE GUILFORD ABC GRADUATES HAVE BECOME REAL-LIFE ROLE MODELS.
Describe the Organization's Program Activity:
TO PROVIDE A HOME WITH A SUPPORTIVE, FAMILY LIKE ATMOSPHERE FOR OUR SCHOLARS TO SHARE WHILE ATTENDING GUILFORD HIGH SCHOOL.- INCLUDING HOUSING, FOOD, SUPERVISION, ACTIVITIES AND ACADEMIC COUNSELING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ann Street Board Member | Trustee | 0 | $0 |
Charlene Blake Board Member | Trustee | 0 | $0 |
Christa Florea Board Member | Trustee | 0 | $0 |
Corinne Wilson Board Member | Trustee | 0 | $0 |
Dani Howard Board Member | Trustee | 0 | $0 |
Elisa Milano Board Member | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $26,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $324,331 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $350,831 |
| Total Program Service Revenue | $0 |
| Investment income | $46,224 |
| 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 | $571,939 |
| 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 | $143,195 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $9,597 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $7,500 |
| Advertising and promotion | $17,316 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $26,279 |
| 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 | $16,340 |
| Insurance | $16,983 |
| All other expenses | $6,511 |
| Total functional expenses | $465,961 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $231,182 |
| Savings and temporary cash investments | $0 |
| 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 | $266,215 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $718,915 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,535 |
| Total assets | $1,218,847 |
| Accounts payable and accrued expenses | $7,857 |
| 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 | $7,857 |
| Net assets without donor restrictions | $1,210,990 |
| Net assets with donor restrictions | $0 |
| 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 | $1,218,847 |