New Albany Community Foundation
- Assets
- $19.9m
- Revenue
- $7.9m
- Investments
- $0.0
- Employees
- 3
- Location
- New Albany, OH
- Founding
- 01/1995
- Data as of
- 06/2022
- EIN
- 31-1409264
Organization Overview
New Albany Community Foundation is located in New Albany, OH. The organization was established in 1995. 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. As of 06/2022, New Albany Community Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Albany Community 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 06/2022, New Albany Community Foundation generated $7.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 21.8% each year . All expenses for the organization totaled $8.5m during the year ending 06/2022. While expenses have increased by 22.9% 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.
Since 2015, New Albany Community Foundation has awarded 230 individual grants totaling $21,025,158. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION'S MISSION IS TO IMPROVE NEW ALBANY FOR THE BENEFIT OF ALL ITS CITIZENS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ARTS AND HUMANITIES
THE ANNUAL REMARKABLE EVENING EVENT PROVIDES INTELLECTUALLY STIMULATING AND ENTERTAINING PROGRAMMING FOR THE CITIZENS OF NEW ALBANY WHILE SUPPORTING WORTHY COMMUNITY CAUSES. LAST FALL, MORE THAN 250 GUESTS ATTENDED THIS EVENT. IN ADDITION TO REVENUE OF $34,840, THE EVENT GENERATED CONTRIBUTION REVENUE OF $1,438,196, REPORTED ON LINE 1F OF PART VIII.
THE AMPHITHEATER EVENTS PROGRAM WAS CREATED TO PROVIDE VIBRANT MUSIC, THEATER, BALLET AND OTHER PERFORMING ARTS TO THE CITIZENS OF NEW ALBANY. THE EVENTS INCLUDE THE AMPHITHEATER BENEFIT, AMPHITHEATER PERFORMANCE SERIES, AND FAMILY FLICK NIGHTS. IN ADDITION TO TICKET REVENUE OF $41,000, THE EVENTS GENERATED CONTRIBUTION REVENUE OF $399,644, REPORTED ON LINE 1F OF PART VIII.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Everett Gallagher Chair | OfficerTrustee | 2 | $0 |
Helga Houston Vice Chair | OfficerTrustee | 2 | $0 |
Paul Judge Secretary | OfficerTrustee | 2 | $0 |
Irving Dennis Treasurer (from 11/21) | OfficerTrustee | 1 | $0 |
Kenneth J Krebs Treasurer (thru 10/21) | OfficerTrustee | 1 | $0 |
Lynne Smith Immediate Past Chair | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hinson Ltd Public Relations | 6/29/21 | $192,500 |
Washington Speakers Bureau Public Speakers | 6/29/21 | $104,914 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $232,876 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,606,174 |
| Noncash contributions included in lines 1a–1f | $82,277 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,839,050 |
| Total Program Service Revenue | $75,840 |
| Investment income | $69 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $27 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,914,986 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,517,631 |
| 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. | $282,960 |
| Compensation of current officers, directors, key employees. | $69,017 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $186,427 |
| Pension plan accruals and contributions | $6,466 |
| Other employee benefits | $14,832 |
| Payroll taxes | $9,290 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $28,986 |
| Advertising and promotion | $79,187 |
| Office expenses | $36,130 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $29,067 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,944 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $910 |
| Insurance | $11,685 |
| All other expenses | $0 |
| Total functional expenses | $8,469,370 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $261,665 |
| Pledges and grants receivable | $304,302 |
| Accounts receivable, net | $18,442 |
| 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 | $304,355 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $19,005,587 |
| Total assets | $19,894,351 |
| Accounts payable and accrued expenses | $59,611 |
| Grants payable | $238,129 |
| 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 | $959,892 |
| Total liabilities | $1,257,632 |
| Net assets without donor restrictions | $17,627,222 |
| Net assets with donor restrictions | $1,009,497 |
| 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 | $19,894,351 |
Grants Awarded
Over the last fiscal year, New Albany Community Foundation has awarded $6,494,781 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
JEANNE B MCCOY COMMUNITY PURPOSE: ARTS | $250,000 |
NEW ALBANY SYMPHONY ORCHESTRA PURPOSE: ARTS | $28,750 |
NEW ALBANY-PLAIN LOCAL SCHOOL DISTRICT PURPOSE: ARTS | $24,520 |
NEW ALBANY-PLAIN LOCAL SCHOOL DISTRICT PURPOSE: EDUCATION | $228,820 |
LIFEWISE ACADEMY PURPOSE: EDUCATION | $25,000 |
HEALTHY NEW ALBANY PURPOSE: HEALTH & WELLNESS | $115,000 |