Greater Hartford Community Foundation Inc
- Assets
- $9.3m
- Revenue
- $38.2m
- Investments
- $0.0
- Employees
- 13
- Location
- Hartford, CT
- Founding
- 05/2006
- Data as of
- 08/2023
- EIN
- 42-1684133
Organization Overview
Greater Hartford Community Foundation Inc, operating under the name The Travelers Championship, is located in Hartford, CT. The organization was established in 2006. 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 08/2023, Travelers Championship employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Travelers Championship 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 08/2023, Travelers Championship generated $38.2m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 34.8% each year . All expenses for the organization totaled $37.6m during the year ending 08/2023. While expenses have increased by 34.0% 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 2015, Travelers Championship has awarded 141 individual grants totaling $15,207,199. 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
THE FOUNDATION'S MISSION IS TO BE A WORLD-CLASS PGA TOUR EVENT THAT MAXIMIZES GIVING TO CHARITY WHILE BENEFITING THE COMMUNITY. THE FOUNDATION'S PRIMARY FUNDRAISING ACTIVITY IS THE TRAVELERS CHAMPIONSHIP, CONNECTICUT'S ANNUAL PGA TOUR GOLF TOURNAMENT. THE NET PROCEEDS REALIZED BY THE TOURNAMENT AND OTHER SUCH ACTIVITIES AND EVENTS ARE FOR THE BENEFIT OF THE CITIZENS, SOCIAL WELFARE ORGANIZATIONS AND OTHER INSTITUTIONS OF THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION'S PRIMARY FUNDRAISING ACTIVITY IS THE TRAVELERS CHAMPIONSHIP, CONNECTICUT'S ANNUAL PGA TOUR GOLF TOURNAMENT. THE NET PROCEEDS REALIZED BY THE TOURNAMENT AND OTHER SUCH ACTIVITIES AND EVENTS ARE FOR THE BENEFIT OF THE CITIZENS, SOCIAL WELFARE ORGANIZATIONS AND OTHER INSTITUTIONS OF THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andy F Bessette Director | Trustee | 1 | $0 |
Bradford S Babbitt ESQ Director | Trustee | 1 | $0 |
Bruce W Rogers Director | Trustee | 1 | $0 |
Chandler J Howard Director | Trustee | 1 | $0 |
Chris Dailey Director | Trustee | 1 | $0 |
Christopher Motl Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aramark Food Service Uniform Services To Hospita | 8/30/23 | $1,541,422 |
Arena Aztec Shaffer Llc Party Rental Specialist | 8/30/23 | $1,704,884 |
Sunbelt Rentals Inc Equipment And Tool Rental Services | 8/30/23 | $325,020 |
Slate Service Group Security | 8/30/23 | $485,835 |
Creative Dimensions Inc Project Management Team | 8/30/23 | $337,864 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $138,547 |
| Related organizations | $0 |
| Government grants | $324,904 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,825,039 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,288,490 |
| Total Program Service Revenue | $26,806,503 |
| Investment income | $7,279 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$17,913 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $38,193,122 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $794,023 |
| 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. | $1,226,179 |
| Compensation of current officers, directors, key employees. | $104,089 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,057,928 |
| Pension plan accruals and contributions | $30,656 |
| Other employee benefits | $148,874 |
| Payroll taxes | $110,514 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $40,110 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $109,977 |
| Advertising and promotion | $2,515,732 |
| Office expenses | $169,158 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,043,854 |
| 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 | $48,491 |
| Insurance | $174,698 |
| All other expenses | $2,342,818 |
| Total functional expenses | $37,575,628 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,895,653 |
| Savings and temporary cash investments | $2,633,826 |
| Pledges and grants receivable | $220,230 |
| Accounts receivable, net | $3,289,565 |
| 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 | $100,280 |
| Net Land, buildings, and equipment | $130,252 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,269,806 |
| Accounts payable and accrued expenses | $6,682,596 |
| Grants payable | $0 |
| Deferred revenue | $264,000 |
| 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 | $6,946,596 |
| Net assets without donor restrictions | $2,322,694 |
| Net assets with donor restrictions | $516 |
| 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 | $9,269,806 |
Grants Awarded
Over the last fiscal year, Greater Hartford Community Foundation Inc has awarded $739,411 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
BIRDIES FOR CHARITY - VARIOUS PURPOSE: DONATION - MATCH | $249,484 |
BIRDIES FOR THE BRAVE PGA TOUR CHARITIES PURPOSE: DONATIONS | $50,096 |
OPERATION SHOWER PURPOSE: DONATION | $27,000 |
THE FIRST TEE OF CONNECTICUT PURPOSE: DONATION | $12,500 |
COBBS CREEK FOUNDATION PURPOSE: DONATION | $100,000 |
THE HOLE IN THE WALL GANG FUND INC PURPOSE: DONATION | $267,000 |