Northwest Bancorp Inc Charitable Foundation
- Assets
- $2.3m
- Revenue
- $77.6k
- Investments
- $2.2m
- Employees
- 0
- Location
- Warren, PA
- Founding
- 12/1999
- Data as of
- 06/2023
- EIN
- 25-1819537
Organization Overview
Northwest Bancorp Inc Charitable Foundation is located in Warren, PA. The organization was established in 1999. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northwest Bancorp Inc 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 06/2023, Northwest Bancorp Inc Charitable Foundation generated $77.6k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 14.3% each year . All expenses for the organization totaled $106.3k during the year ending 06/2023. While expenses have increased by 2.0% 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, Northwest Bancorp Inc Charitable Foundation has awarded 29 individual grants totaling $346,260. 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 |
|---|---|---|---|
Lou Torchio President | 0.5 | $0 | |
Kay Eadie Secretary | 1 | $0 | |
William W Harvey Treasurer | 1 | $0 | |
John Golding Vice President | 0.5 | $0 | |
Tim Fannin Board Member | 0.5 | $0 | |
John Meegan Board Member | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $45,883 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $31,729 |
| Capital Gain Net Income | $31,729 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $77,612 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $850 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $20,479 |
| Contributions, gifts, grants paid | $85,800 |
| Total expenses and disbursements | $106,279 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $69,818 |
| 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 | $2,187,525 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $2,257,343 |
| Accounts payable and accrued expenses | $5,162 |
| Grants payable | $69,800 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $74,962 |
Grants Awarded
Over the last fiscal year, Northwest Bancorp Inc Charitable Foundation has awarded $85,800 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
CORRY HIGHER EDUCATION COUNCIL PURPOSE: OPERATIONS | $1,000 |
CORRY REGIONAL FIRE COMPANY PURPOSE: PRESERVATION EQUIPMENT | $6,700 |
SCHOLARSHIPS TO CHILDREN OF EMPLOYEES PURPOSE: HIGHER EDUCATION SCHOLARSHIPS | $66,000 |
NORTHWESTERN PENNSYLVANIA REGIONAL COLLEGE PURPOSE: CORRY JUNCTION | $2,500 |
YMCA OF CORRY PURPOSE: COMMUNITY EVENT SPONSOR | $2,500 |
DOWNTOWN CORRY BUSINESS ASSOCIATION PURPOSE: OPERATIONS | $2,500 |