Connecticut Foundation Solutions Indemnity Company Inc
- Assets
- $30.5m
- Revenue
- $30.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Ashford, CT
- Founding
- 03/2019
- Data as of
- 06/2021
- EIN
- 83-1054554
Organization Overview
Connecticut Foundation Solutions Indemnity Company Inc is located in Ashford, CT. The organization was established in 2019. According to its NTEE Classification (L80) the organization is classified as: Housing Support, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Connecticut Foundation Solutions Indemnity Company 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 06/2021, Connecticut Foundation Solutions Indemnity Company Inc generated $30.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (6.5%) each year.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ASSIST THE STATE OF CONNECTICUT WITH THE FAIR AND EQUITABLE ADJUSTMENT OF HOMEOWNER CLAIMS RESULTING FROM THE PYRRHOTITE-AFFECTED HOME FOUNDATIONS NATURAL DISASTER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE FINANCIAL ASSISTANCE TO OWNERS OF RESIDENTIAL BUILDINGS FOR THE REPLACEMENT OF, OR REIMBURSEMENT OF COSTS ASSOCIATED WITH THE REPLACEMENT OF, CONCRETE FOUNDATIONS OF SUCH BUILDINGS THAT HAVE DETERIORATED DUE TO THE PRESENCE OF A MINERAL WITHIN THE CONCRETE CALLED PYRRHOTITE. THE ASSISTANCE IS INTENDED TO PROVIDE SUCH OWNERS WITH A STRUCTURALLY SOUND CONCRETE FOUNDATION REPLACEMENT, OR REIMBURSEMENT FOR A REPLACED FOUNDATION.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Michael Maglaras & Company Insurance And Risk Management | 6/29/20 | $377,945 |
Esis Inc Claims Administration | 6/29/20 | $314,026 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $30,582,118 |
| Investment income | $166,680 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $30,748,798 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $31,620,366 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $602,020 |
| Fees for services: Legal | $49,000 |
| Fees for services: Accounting | $64,259 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $37,968 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| Insurance | $162,361 |
| All other expenses | $0 |
| Total functional expenses | -$406,947 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $86,537 |
| Savings and temporary cash investments | $29,246,743 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $18,217 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,157,552 |
| Total assets | $30,509,049 |
| Accounts payable and accrued expenses | $64,265 |
| 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 | $62,903,076 |
| Total liabilities | $62,967,341 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | -$32,458,292 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Interstate I Affordable Housing Inc New York, NY | $783,725 | $8,991,908 |
Ascendant Neighborhood Development Corporation New York, NY | $39,528,943 | $4,446,577 |
Housing Works Services Inc Brooklyn, NY | $2,273,707 | $4,786,590 |
Willow Gardens Inc New Rochelle, NY | $20,661,774 | $5,354,577 |
United Residents In Academy Homes Ii Inc Roxbury, MA | $30,056,643 | $8,930,600 |
Pratt Area Community Council Inc Broooklyn, NY | $10,567,531 | $5,512,215 |
Homeowners Rehab Inc Cambridge, MA | $114,049,178 | $6,783,220 |
Neighborhood Housing Services Of New York City Inc New York City, NY | $17,546,984 | $4,808,509 |
Ccba Tai Tung Management Inc Boston, MA | $39,986,974 | $8,662,376 |
Housing And Services Inc New York, NY | $4,445,840 | $3,988,295 |
The Caleb Group Inc Swampscott, MA | $1,718,156 | $4,435,338 |
Utica Neighborhood Housing Service Inc Utica, NY | $4,904,112 | $3,447,727 |