New Alliance Foundation Inc
- Assets
- $30.6m
- Revenue
- $787.3k
- Investments
- $30.3m
- Employees
- 0
- Location
- New Haven, CT
- Founding
- 11/2005
- Data as of
- 12/2023
- EIN
- 56-2453619
Organization Overview
New Alliance Foundation Inc is located in New Haven, CT. The organization was established in 2005. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. New Alliance 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, New Alliance Foundation Inc generated $787.3k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $1.9m during the year ending 12/2023. While expenses have increased by 0.7% 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 2016, New Alliance Foundation Inc has awarded 1,302 individual grants totaling $9,301,998. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
READY FOR THE GRADE - NEWALLIANCE FOUNDATION ESTABLISHED READY FOR THE GRADE, A PARTNERSHIP WITH PUBLIC LIBRARIES IN THE FOUNDATION'S SERVICE AREA TO REDUCE THE LOSS IN READING ABILITY LOW-INCOME CHILDREN GRADES K-3 EXPERIENCE DURING THE SUMMER. IN 2023, 5 LIBRARIES PARTICIPATED IN THE PROGRAM, SERVING 135 STUDENTS. ALL BUT THREE STUDENTS MAINTAINED OR IMPROVED READING LEVELS OVER THE COURSE OF THE SUMMER. STAFF OF THE LIBRARIES CONVENE TWICE A YEAR TO REPORT THE STATUS OF THE PROGRAM AND SHARE SUCCESSES AND CHALLENGES. AN INDEPENDENT EVALUATOR COLLECTS DATA, MEASURES IMPACT, OBSERVES EACH PROGRAM IN OPERATION, AND PUBLISHES A WRITTEN REPORT TO DOCUMENT FINDINGS. NEWALLIANCE FOUNDATION STAFF ALSO VISIT EACH SITE. THE INTENTION IS FOR STUDENTS TO ENTER SCHOOL IN SEPTEMBER READY TO LEARN, SOLID IN THEIR RETAINED READING SKILLS, AND WITH THE SAME LITERACY ADVANTAGES AS THEIR NON-LOW-INCOME PEERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert J Lyons Jr Director, Chair | 1 | $0 | |
Alexis H Smith Director, Vice Chair | 1 | $0 | |
Paul A Mccraven Director, Secretary, Treasurer | 1 | $0 | |
Fred Acquavita Director | 1 | $0 | |
Michael T Angelini Director | 1 | $0 | |
Marjorie Bussmann Gillis Ed D Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $479,293 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $307,999 |
| Capital Gain Net Income | $307,999 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $787,292 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $161,337 |
| Other employee salaries and wages | $140,927 |
| Pension plans, employee benefits | $49,552 |
| Interest | $0 |
| Taxes | $6,673 |
| Depreciation | $0 |
| Occupancy | $33,696 |
| Travel, conferences, and meetings | $20,682 |
| Printing and publications | $0 |
| Other expenses | $70,691 |
| Total operating and administrative expenses | $852,569 |
| Contributions, gifts, grants paid | $999,500 |
| Total expenses and disbursements | $1,852,069 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $276,450 |
| Savings and temporary cash investments | $0 |
| 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 | $12,117 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $30,297,584 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $1,450 |
| Total assets | $30,587,601 |
| Accounts payable and accrued expenses | $35,305 |
| Grants payable | $14,250 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $46,000 |
| Total liabilities | $95,555 |
Grants Awarded
Over the last fiscal year, New Alliance Foundation Inc has awarded $1,007,000 in support to 147 organizations.
| Grant Recipient | Amount |
|---|---|
10SELDEN PURPOSE: TO SUPPORT PERFORMING AND VISUAL ARTS PROGRAMS WITH THE PURPOSE OF REACHING A BROAD AND DIVERSE AUDIENCE, ENGAGE UNDERSERVED POPULATIONS AND EXPAND PARTICIPATION IN ARTS PROGRAMMING. | $3,000 |
AGENCY ON AGING PURPOSE: TO SUPPORT EXPERIENCE CORPS' INTER-GENERATIONAL VOLUNTEER READING TUTORING PROGRAM HELPING YOUNG CHILDREN IN HIGH NEEDS COMMUNITIES IN NEW HAVEN, NORTH HAVEN, AND HAMDEN TO ACHIEVE GRADE-LEVEL LITERACY. | $7,500 |
ALBERTUS MAGNUS PURPOSE: TO PROVIDE GENERAL OPERATING SUPPORT | $2,000 |
ALBERTUS MAGNUS COLLEGE PURPOSE: TO PROVIDE GENERAL OPERATING SUPPORT | $2,000 |
ALL OUR KIN PURPOSE: TO SUPPORT FAMILY CHILD CARE EDUCATORS IN NEW HAVEN BY PROVIDING THE RESOURCES, TRAINING, AND SUPPORT THEY DESERVE TO CREATE HIGH-QUALITY, SUSTAINABLE FAMILY CHILD CARE PROGRAMS. AS A RESULT, CHILDREN WILL RECEIVE THE ENRICHING EARLY LEARNING EXPERIENCES THAT LAY THE GROUNDWORK FOR SUCCESS. | $5,000 |
AMISTAD ACADEMY PURPOSE: TO PROVIDE SUPPORT FOR OPERATIONS OF ACHIEVEMENT-GAP-CLOSING, COLLEGE-PREPARATORY, K-12 EDUCATIONAL PROGRAM. | $7,500 |