Mitchell D Phaiah Foundation Inc
- Assets
- $3.2m
- Revenue
- $146.2k
- Investments
- $2.8m
- Employees
- 0
- Location
- Putnam, CT
- Founding
- 10/2017
- Data as of
- 12/2023
- EIN
- 47-3978418
Organization Overview
Mitchell D Phaiah Foundation Inc is located in Putnam, CT. The organization was established in 2017. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Mitchell D Phaiah Foundation 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, Mitchell D Phaiah Foundation Inc generated $146.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.6%) each year. All expenses for the organization totaled $221.7k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (2.1%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Mitchell D Phaiah Foundation Inc has awarded 258 individual grants totaling $1,404,575. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Cristina Director | 5 | $12,000 | |
Beverly Cristina Director | 10 | $12,000 | |
Michelle Phaiah Director | 0.5 | $600 | |
Stephen M Phaiah Director | 5 | $12,000 | |
Irwin Kalmer Director | 0.5 | $600 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $6,490 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $5,824 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $139,705 |
| Total Revenue | $146,195 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $37,200 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,754 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,808 |
| Total operating and administrative expenses | $44,612 |
| Contributions, gifts, grants paid | $177,049 |
| Total expenses and disbursements | $221,661 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $62,350 |
| Savings and temporary cash investments | $281,641 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $2,821,348 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,165,339 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Mitchell D Phaiah Foundation Inc has awarded $177,049 in support to 33 organizations.
| Grant Recipient | Amount |
|---|---|
DOROBO FUND FOR TANZANIA PURPOSE: CHARITABLE PURPOSES | $10,000 |
HOMETOWN BANK CARDMEMBER SERVICES PURPOSE: CHARITABLE PURPOSES | $1,271 |
COMMUNITY KITCHENS OF NE CT PURPOSE: CHARITABLE PURPOSES | $8,064 |
CONNECTICUT AUDOBAN OWL GARDEN PURPOSE: CHARITABLE PURPOSES | $1,250 |
CENTER FOR GREAT APES PURPOSE: CHARITABLE PURPOSES | $2,000 |
CONNECTICUT HUMANE SOCIETY PURPOSE: CHARITABLE PURPOSES | $8,024 |