Yhb Charitable Endowment Inc
- Assets
- $25.0m
- Revenue
- $5.4m
- Investments
- $0.0
- Employees
- 0
- Location
- West Hartford, CT
- Founding
- 04/2010
- Data as of
- 12/2023
- EIN
- 26-2552404
Organization Overview
Yhb Charitable Endowment Inc is located in West Hartford, CT. The organization was established in 2010. According to its NTEE Classification (T30) the organization is classified as: Public 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. Yhb Charitable Endowment 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 12/2023, Yhb Charitable Endowment Inc generated $5.4m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 18.6% each year . All expenses for the organization totaled $2.1m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Yhb Charitable Endowment Inc has awarded 308 individual grants totaling $9,611,707. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
YHB CHARITABLE ENDOWMENT WAS FORMED TO SERVE THE CHARITABLE INTERESTS OF ITS DONORS BY OFFERING INDIVIDUAL DONOR ADVISED FUNDS. SUCH FUNDS OFFER SIMPLICITY AND FLEXIBILITY AS TO THE TIMING, AMOUNTS AND BENEFICIARIES OF CHARITABLE DONATIONS. DONORS HAVE INPUT AS TO HOW FUND DOLLARS ARE INVESTED OR, WITH LARGER ACCOUNTS, CAN ACCESS PERSONAL ASSET MANAGMENT FOR THEIR FUND. DONORS CAN CREATE A LEGACY OF GIVING TO PERPETUATE FAMILY VALUES OR TO HONOR THE MEMORY OF A LOVED ONE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MANAGE A PORTFOLIO OF PHILANTHROPIC FUNDS TO INCREASE THE AMOUNT OF CHARITABLE FUNDING AVAILABLE TO NON-PROFITS AND ASSIST DONORS WITH THEIR PHILANTHROPIC GOALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul R Martel President | OfficerTrustee | 1 | $0 |
Mark W Everette Vice President | OfficerTrustee | 1 | $0 |
Dr Howard Mark Board Member | Trustee | 1 | $0 |
Brenda Sullivan Board Member | Trustee | 1 | $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 | $2,149,848 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,149,848 |
| Total Program Service Revenue | $0 |
| Investment income | $514,907 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,780,397 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,445,152 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,046,501 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| 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 | $79,704 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,126,205 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $25,008,128 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $25,008,128 |
| 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 | $0 |
| Net assets with donor restrictions | $25,008,128 |
| 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 | $25,008,128 |
Grants Awarded
Over the last fiscal year, Yhb Charitable Endowment Inc has awarded $1,531,050 in support to 58 organizations.
| Grant Recipient | Amount |
|---|---|
ADAM J LEWIS ACADEMY PURPOSE: GENERAL SUPPORT | $25,000 |
ADIRONDACK FOUNDATION PURPOSE: GENERAL SUPPORT | $17,500 |
AMERICARES PURPOSE: GENERAL SUPPORT | $7,100 |
AMERICAN RED CROSS PURPOSE: GENERAL SUPPORT | $9,000 |
AUGSBURG LUTHERAN CHURCH PURPOSE: GENERAL SUPPORT | $5,400 |
ASYLUM HILL CONGREGATIONAL PURPOSE: GENERAL SUPPORT | $5,500 |