Torrington Savings Foundation
- Assets
- $1.4m
- Revenue
- $46.1k
- Investments
- $1.4m
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- Data as of
- 12/2022
- EIN
- 83-2495796
Organization Overview
Torrington Savings Foundation is located in Wilmington, DE. According to its NTEE Classification (A12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Torrington Savings Foundation 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 12/2022, Torrington Savings Foundation generated $46.1k 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 (25.2%) each year. All expenses for the organization totaled $207.7k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Torrington Savings Foundation has awarded 110 individual grants totaling $771,893. 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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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edwin G Booth Jr Dir, Co- Pres, Pres | 1 | $0 | |
John E Janco Sr Co- Pres, Dir | 1 | $0 | |
Diane V Libby Dir, Treas | 1 | $0 | |
Aaron Mambrino Dir, Vp, Sec | 1 | $0 | |
Steven M Temkin VP | 1 | $0 | |
Tina Milanesi Dir, VP | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,500 |
| Interest on Savings | $1,062 |
| Dividends & Interest | $45,417 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$2,895 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $46,084 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $595 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $21,135 |
| Total operating and administrative expenses | $32,833 |
| Contributions, gifts, grants paid | $174,916 |
| Total expenses and disbursements | $207,749 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $48,501 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,408,567 |
| 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, Torrington Savings Foundation has awarded $174,916 in support to 18 organizations.
| Grant Recipient | Amount |
|---|---|
Torrington, CT PURPOSE: RAILROAD SQUARE RECREATION AREA | $50,000 |
Torrington, CT PURPOSE: AFTER-SCHOOL PROGRAM FOR HIGH SCHOOL STUDENTS | $20,000 |
CENTER CONGREGATIONAL CHURCH PURPOSE: TO PURCHASE CAMPING EQUIPMENT TRAILER | $18,704 |
Bristol, CT PURPOSE: FUNDAMENTALS OF LEARNING PROGRAM | $10,000 |
AFTER SCHOOL ARTS PROGRAM INC PURPOSE: ASAP! PROGRAMS FOR TORRINGTON SCHOOLS | $10,000 |
Harwinton, CT PURPOSE: TAFA E.M.B.R.A.C.E. AUTISM FUND | $9,464 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pseg Foundation Inc Newark, NJ | $49,926,270 | $78,342 |
Mid Atlantic Arts Inc Baltimore, MD | $4,986,510 | $4,229,657 |
United Way Of Lancaster County Lancaster, PA | $8,532,432 | $6,314,775 |
Sarcoma Foundation Of America Inc Damascus, MD | $9,642,356 | $3,973,362 |
Silver Mountain Foundation For The Arts Morristown, NJ | $18,777,232 | $3,781,994 |
Casey Cares Foundation Inc Columbia, MD | $1,991,956 | $2,113,967 |
Philadelphia Cultural Fund Inc Philadelphia, PA | $194,550 | $1,278,314 |
Cultural Alliance Of York County York, PA | $3,774,226 | $1,373,230 |
Sharebaby Baltimore, MD | $970,929 | $1,403,551 |
Dallas Morse Coors Foundation For The Performing Arts Tr Wilmington, DE | $11,658,521 | $1,458,685 |
Hope Through Education -- A Fund For Better Futures Inc Bedminster, NJ | $178,385 | $999,690 |
Playhouse Artists New Hope, PA | $80,520 | $752,591 |