Torrington Savings Foundation
- Assets
- $1.3m
- Revenue
- $94.3k
- Investments
- $1.2m
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- Data as of
- 12/2023
- 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 12/2023, Torrington Savings Foundation generated $94.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (8.5%) each year. All expenses for the organization totaled $245.4k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Torrington Savings Foundation has awarded 97 individual grants totaling $794,620. 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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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edwin G Booth Jr Dir, Pres | 1 | $0 | |
Diane V Libby Dir, Treas | 1 | $0 | |
Aaron Mambrino Dir, Vp, Sec | 1 | $0 | |
Tina Milanesi Dir, VP | 1 | $0 | |
Steven M Temkin VP | 1 | $0 | |
Lesa Vanotti Dir, VP | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $250 |
| Interest on Savings | $4,803 |
| Dividends & Interest | $44,672 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $44,592 |
| Capital Gain Net Income | $44,592 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $94,317 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $694 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $20,489 |
| Total operating and administrative expenses | $31,087 |
| Contributions, gifts, grants paid | $214,278 |
| Total expenses and disbursements | $245,365 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $50,915 |
| 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 | $1,257,519 |
| 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 $214,278 in support to 23 organizations.
| Grant Recipient | Amount |
|---|---|
AFTER SCHOOL ARTS PROGRAM INC PURPOSE: ASAP! PROGRAMS FOR TORRINGTON STUDENTS | $15,000 |
BRISTOL BOYS & GIRLS CLUB ASSOCIATION INC PURPOSE: CAREERS FOR CAMBRIDGE: BUILDING SUSTAINABLE PATHWAYS TO SUCCESS | $8,700 |
BRISTOL SYMPHONY ORCHESTRA INC PURPOSE: NUTMEG SYMPHONY ORCHESTRA EDUCATIONAL CHILDREN'S CONCERTS | $3,500 |
EDADVANCE PURPOSE: BUSINESS EDUCATION SERIES FOR LOCAL CHILDCARE PROVIDERS | $8,950 |
FAMILY CENTER INCORPORATED PURPOSE: FAMILY LITERACY NIGHT | $1,845 |
GOSHEN HOUSING TRUST INC PURPOSE: AFFORDABLE HOUSING RECREATION SPACE PROJECT | $4,000 |