Commonwealth Community Trust Endowment Fund
- Assets
- $3.3m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 18
- Location
- Richmond, VA
- Founding
- 05/1991
- Data as of
- 12/2021
- EIN
- 54-1565250
Organization Overview
Commonwealth Community Trust Endowment Fund is located in Richmond, VA. The organization was established in 1991. According to its NTEE Classification (E50) the organization is classified as: Rehabilitative Care, under the broad grouping of Health Care and related organizations. As of 12/2021, Commonwealth Community Trust Endowment Fund employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Commonwealth Community Trust Endowment Fund 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 12/2021, Commonwealth Community Trust Endowment Fund generated $1.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.0% each year . All expenses for the organization totaled $1.8m during the year ending 12/2021. While expenses have increased by 19.0% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE PEOPLE WITH SPECIAL NEEDS WHO LIVE THROUGHOUT THE UNITED STATES AND THEIR FAMILIES A CONVENIENT, COST-EFFECTIVE FRAMEWORK FOR THE ADMINISTRATION OF POOLED SPECIAL NEEDS TRUSTS THAT SUPPLEMENT GOVERNMENT ENTITLEMENT PROGRAMS SUCH AS SUPPLEMENTAL SECURITY INCOME (SSI) AND MEDICAID. TO EDUCATE FAMILIES, PEOPLE WITH SPECIAL NEEDS, AND PROFESSIONALS ABOUT THE BENEFITS OF A POOLED SPECIAL NEEDS TRUST. TO AWARD INDIVIDUALS WITH SPECIAL NEEDS WHO RESIDE IN VIRGINIA AND DEMONSTRATE A FINANCIAL NEED WITH A MONETARY GRANT TO BE USED FOR SERVICES AND/OR EQUIPMENT THROUGH CCT'S CHARITABLE FUND AWARD PROGRAM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ADMINISTERS THIRD-PARTY AND FIRST-PARTY POOLED SPECIAL NEEDS TRUST FOR PARTICIPANTS WHILE PRESERVING GOVERNMENT BENEFITS FOR THOSE CLIENTS RECEIVING SSI AND /OR MEDICAID. MAINTAIN A CONVENIENT, COST-EFFECTIVE FRAMEWORK WITH A MINIMUM OF 5,000 REQUIRED TO ESTABLISH A TRUST. OFFER EDUCATION AND OUTREACH TO INFORM PEOPLE WITH DISABILITIES, THEIR FAMILIES, AND PROFESSIONALS ABOUT THE SERVICES OF CCT AND HOW TO PLAN AND EXECUTE A POOLED SPECIAL NEEDS TRUST THAT WILL PROVIDE FINANCIAL RESOURCES FOR AN IMPROVED QUALITY OF LIFE FOR THE TRUST BENEFICIARY.
AS PART OF ITS MISSION TO ENRICH THE QUALITY OF LIFE FOR PEOPLE LIVING WITH A DISABILITY, CCT ESTABLISHED THE CHARITABLE FUND AWARD PROGRAM TO AWARD UP TO 1,000 PER ANNUM FOR EQUIPMENT AND/OR SERVICES TO INDIVIDUALS WITH DISABILITIES WHO DEMONSTRATE FINANCIAL NEED. EACH RECIPIENT OF AN AWARD MUST MEET THE SOCIAL SECURITY ADMINISTRATION DEFINITION OF DISABLED AND MEET THE FEDERAL POVERTY GUIDELINES AND/OR RECEIVE SSI. 173 GRANTS WERE AWARDED TO ELIGIBLE INDIVIDUALS THROUGH THIS PROGRAM IN 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joanne Marcus President/ce | Officer | 35 | $186,841 |
Karen Konvicka Dir Client S | 35 | $106,677 | |
J Penn Crawford ESQ Past-Preside | OfficerTrustee | 1 | $0 |
Stephanie E Grana ESQ President | OfficerTrustee | 1 | $0 |
Stephen Kimberlin CPA Treasurer | OfficerTrustee | 1 | $0 |
Susanna B Jones ESQ Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $158,745 |
| All other contributions, gifts, grants, and similar amounts not included above | $902,592 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,061,337 |
| Total Program Service Revenue | $649,883 |
| Investment income | $56,014 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $93,042 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,860,276 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $122,735 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $195,585 |
| Compensation of current officers, directors, key employees. | $39,117 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $797,519 |
| Pension plan accruals and contributions | $22,368 |
| Other employee benefits | $47,576 |
| Payroll taxes | $77,244 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,660 |
| Fees for services: Accounting | $1,840 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $8,946 |
| Fees for services: Other | $21,276 |
| Advertising and promotion | $40,311 |
| Office expenses | $58,543 |
| Information technology | $102,512 |
| Royalties | $0 |
| Occupancy | $122,697 |
| Travel | $15,330 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $30,267 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $31,507 |
| Insurance | $29,731 |
| All other expenses | $811 |
| Total functional expenses | $1,765,213 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $413,958 |
| Savings and temporary cash investments | $137,187 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,000 |
| 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 | $10,936 |
| Net Land, buildings, and equipment | $240,588 |
| Investments—publicly traded securities | $2,519,705 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,776 |
| Total assets | $3,333,150 |
| Accounts payable and accrued expenses | $8,542 |
| 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 | $8,542 |
| Net assets without donor restrictions | $3,324,608 |
| Net assets with donor restrictions | $0 |
| 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 | $3,333,150 |
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