Congregational Investment Trust 41c017005 990
- Assets
- $19.2m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Olean, NY
- Founding
- 11/1994
- Data as of
- 03/2022
- EIN
- 39-1795262
Organization Overview
Congregational Investment Trust 41c017005 990 is located in Olean, NY. The organization was established in 1994. According to its NTEE Classification (X12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Religion-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Congregational Investment Trust 41c017005 990 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 03/2022, Congregational Investment Trust 41c017005 990 generated $1.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $569.0k during the year ending 03/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Congregational Investment Trust 41c017005 990 has awarded 65 individual grants totaling $5,342,194. 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
TO PROVIDE SUPPORT FOR THE VARIOUS CHRISTIAN ORGANIZATIONS THAT COMPRISE THE CONGREGATIONAL INVESTMENT TRUST
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE SUPPORT FOR THE VARIOUS CHRISTIAN ORGANIZTIONS THAT COMPRISE THE CONGREGATIONAL INVESTMENT TRUST
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Community Bank Na Trustee | 1 | $36,847 | |
Jeff Dillon Treasurer | OfficerTrustee | 1 | $0 |
Rev Dr Cindy Bacon Hammer Moderator/chair | OfficerTrustee | 1 | $0 |
Rev Art Ritter Vice Moderator | OfficerTrustee | 1 | $0 |
Kate O'dell Secretary | OfficerTrustee | 1 | $0 |
Pastor Carol Taylor Trustee | 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 | $780,369 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $780,369 |
| Total Program Service Revenue | $0 |
| Investment income | $571,181 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $249,442 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,600,992 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $494,184 |
| 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. | $36,847 |
| Compensation of current officers, directors, key employees. | $36,847 |
| 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 | $36,595 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| 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 | $569,026 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $39,640 |
| 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 | $19,163,459 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $19,203,099 |
| Accounts payable and accrued expenses | $36,004 |
| 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 | $36,004 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $19,167,095 |
| 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 | $19,203,099 |
Grants Awarded
Over the last fiscal year, Congregational Investment Trust 41c017005 990 has awarded $482,000 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
1ST CONGREGATION CHURCH WAUWA PURPOSE: GENERAL SUPPORT | $253,000 |
Olean, NY PURPOSE: GENERAL SUPPORT | $100,000 |
BALEVILLE CONGR CHURCH PURPOSE: GENERAL SUPPORT | $40,000 |
SKOWHEGAN FEDERATED CHURCH PURPOSE: GENERAL SUPPORT | $30,000 |
Gilmanton, NH PURPOSE: GENERAL SUPPORT | $18,000 |
CONGR CHURCH OF CANTON PURPOSE: GENERAL SUPPORT | $15,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Congregational Investment Trust 41c017005 990 has recieved totaling $100,000.
| Awarding Organization | Amount |
|---|---|
Congregational Investment Trust 41c017005 990 Olean, NY PURPOSE: GENERAL SUPPORT | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kolel Torah Inc Brooklyn, NY | $234,559 | $10,096,931 |
Christian Union Inc Princeton, NJ | $13,074,575 | $9,787,161 |
Eretz Hachaim Us Inc Brooklyn, NY | $7,972,379 | $9,030,705 |
Norman E Alexander Family S Foundation Inc New York, NY | $92,718,623 | $22,235,113 |
Strength Of Israel Inc Lawrence, NY | $1,436,056 | $5,202,580 |
Kupas Yom Tov Inc Lakewood, NJ | $35,904 | $3,631,675 |
Norman E Alexander Family M Foundation Inc New York, NY | $80,702,389 | $17,666,816 |
Norman E Alexander Family G Foundation Inc New York, NY | $74,799,909 | $16,778,157 |
Episcopal Charities Of The Diocese Of New York New York, NY | $4,370,956 | $2,900,488 |
Mosdos Rabbainu Nachum Meshadyk Brooklyn, NY | $3,226,330 | $4,187,685 |
Emet Veshalom Brooklyn, NY | $8,411 | $1,783,747 |
Daat Center Inc Brooklyn, NY | $444,170 | $1,892,675 |