522 Foundation Inc
- Assets
- $15.0m
- Revenue
- $3.2m
- Investments
- $14.2m
- Employees
- 0
- Location
- Darien, CT
- Founding
- 09/2019
- Data as of
- 12/2021
- EIN
- 81-0843269
Organization Overview
522 Foundation Inc is located in Darien, CT. The organization was established in 2019. 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. 522 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 12/2021, 522 Foundation Inc generated $3.2m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 50.6% each year . All expenses for the organization totaled $1.1m during the year ending 12/2021. While expenses have increased by 27.6% per year over the past 4 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 2020, 522 Foundation Inc has awarded 51 individual grants totaling $1,502,844. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
COLLABORATION WITH THE WATERSIDE SCHOOL IN STAMFORD CONNECTICUT TO DEVELOP A LEARN TO SKATE PROGRAM AND AN INTRODUCTION TO THE SPORT OF HOCKEY FOR YOUTH THAT WOULD OTHERWISE NOT BE EXPOSED TO THE PROGRAM.
WORKING DIRECTLY WITH STAFF AND COACHES FROM HARLEM LACROSSE TO INSTITUTE A LACROSSE PROGRAM AND ASSIST STUDENTS WHO RELY ON SCHOLARSHIPS TO ATTEND THE SCHOOL, LEARN THE SPORT, AND WANT TO ATTEND COLLEGE.
WORKING DIRECTLY WITH LOCAL LACROSSE CAMPS AND PROGRAMS TOPROVIDE COACHING AND INSTRUCTION IN LACROSSE TO GIFTED YOUNG ATHLETES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Van Den Broek Director | 10 | $0 | |
Merrill Van Den Broek Director | 10 | $0 | |
Michael P Murray Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $100,917 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,081,476 |
| Capital Gain Net Income | $3,081,476 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $18,093 |
| Total Revenue | $3,200,486 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $303 |
| Taxes | $26,054 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $39,802 |
| Total operating and administrative expenses | $81,719 |
| Contributions, gifts, grants paid | $1,002,025 |
| Total expenses and disbursements | $1,083,744 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $145,824 |
| Savings and temporary cash investments | $633,876 |
| 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 | $0 |
| Investments—other | $1,946,119 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $14,985,370 |
| 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, 522 Foundation Inc has awarded $1,002,025 in support to 28 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: GENERAL SUPPORT | $380,230 |
Stamford, CT PURPOSE: HOCKEY PROGRAM | $180,000 |
Cleveland, OH PURPOSE: GENERAL SUPPORT | $108,120 |
Darien, CT PURPOSE: GENERAL SUPPORT | $75,000 |
Rockville, MD PURPOSE: GENERAL SUPPORT | $52,000 |
TEAM WESTERN KENTUCKY TORNADO RELIEF FUND PURPOSE: GENERAL SUPPORT | $22,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John R Oishei Foundation Buffalo, NY | $294,151,477 | $18,357,929 |
American Express Foundation New York, NY | $66,234,265 | $62,922,703 |
Essel Foundation Inc Purchase, NY | $100,106,056 | $12,292,478 |
Beth And Ravenel Curry Foundation New York, NY | $0 | $44,744,046 |
Kz Family Foundation New York, NY | $10,936,301 | $30,139,672 |
The Freeman Foundation P-01644-00-7 New York, NY | $343,405,683 | $35,941,951 |
Hearst Foundation Inc New York, NY | $439,249,947 | $42,040,987 |
Tansy Charitable Foundation New York, NY | $325,076,608 | $77,631,295 |
Eastern Bank Charitable Foundation Lynn, MA | $286,575,476 | $18,352,628 |
G Harold And Leila Mathers Charitable Foundation Rye Brook, NY | $96,045,942 | $16,941,265 |
Elms Foundation Providence, RI | $0 | -$22,907 |
Thomas L Kempner Jr Foundation Inc Southampton, NY | $328,355,645 | $44,754,721 |