Congregational Investment Trust 41c017005 990
- Assets
- $20.4m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Olean, NY
- Founding
- 11/1994
- Data as of
- 03/2024
- 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 03/2024, Congregational Investment Trust 41c017005 990 generated $2.0m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 10.5% each year . All expenses for the organization totaled $1.1m during the year ending 03/2024. While expenses have increased by 13.4% per year over the past 8 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 2017, Congregational Investment Trust 41c017005 990 has awarded 62 individual grants totaling $5,265,663. 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
2024
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 ORGANIZATIONS THAT COMPRISE THE CONGREGATIONAL INVESTMENT TRUST
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Community Bank Na Trustee | 1 | $35,817 | |
Rev Robb Tarr Trustee | Trustee | 1 | $0 |
Melinda Jaster Trustee | Trustee | 1 | $0 |
Rev Art Ritter Moderator/chair | OfficerTrustee | 1 | $0 |
Kate O'dell Secretary | OfficerTrustee | 1 | $0 |
Rev Norm Erlendson 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 | $816,017 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $816,017 |
| Total Program Service Revenue | $0 |
| Investment income | $726,715 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $451,643 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,994,375 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $970,950 |
| 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. | $35,817 |
| Compensation of current officers, directors, key employees. | $35,817 |
| 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 | $63,212 |
| 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 | $1,071,379 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $56,619 |
| 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 | $20,353,023 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $20,409,642 |
| Accounts payable and accrued expenses | $141,583 |
| 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 | $141,583 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $20,268,059 |
| 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 | $20,409,642 |
Grants Awarded
Over the last fiscal year, Congregational Investment Trust 41c017005 990 has awarded $965,000 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
1ST CONGREGATION CHURCH WAUWA PURPOSE: GENERAL SUPPORT | $263,000 |
BALEVILLE CONGR CHURCH PURPOSE: GENERAL SUPPORT | $75,000 |
1ST CONGREGATION CHURCH WAYNE PURPOSE: GENERAL SUPPORT | $34,000 |
FIRST CONG CHURCH LAINGSBURG PURPOSE: GENERAL SUPPORT | $7,000 |
GILMANTON COMMUNITY CHURCH PURPOSE: GENERAL SUPPORT | $25,000 |
NATL ASSOC OF CONGREGATIONA PURPOSE: GENERAL SUPPORT | $525,000 |