Valley Community Foundation Inc
- Assets
- $36.2m
- Revenue
- $5.3m
- Investments
- $11.7m
- Employees
- 5
- Location
- Derby, CT
- Founding
- 04/2004
- Data as of
- 12/2021
- EIN
- 84-1637102
Organization Overview
Valley Community Foundation Inc is located in Derby, CT. The organization was established in 2004. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Valley Community Foundation Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Valley Community 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, Valley Community Foundation Inc generated $5.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.0%) each year. All expenses for the organization totaled $2.9m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE VALLEY COMMUNITY FOUNDATION'S MISSION IS TO MAKE THE VALLEY A BETTER PLACE TO LIVE AND WORK, BOTH NOW AND IN THE FUTURE, BY CONNECTING PRIVATE PHILANTHROPY TO THE LONG-TERM PUBLIC GOOD OF THE VALLEY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CIVIC VITALITY: GRANTS THAT SUPPORT PROGRAMS AND SERVICES THAT PROMOTE CIVIC VITALITY.
HEALTH: GRANTS THAT SUPPORT PROGRAMS AND SERVICES THAT ENSURE HEALTH AND WELLNESS.
EDUCATION: GRANTS THAT SUPPORT PROGRAMS AND SERVICES THAT PROVIDE QUALITY EDUCATION.
ARTS AND CULTURE: GRANTS THAT SUPPORT PROGRAMS AND SERVICES THAT PROMOTE ARTS AND CULTURE. EXPENSES $153,003 INCLUDING GRANTS OF $114,688.ECONOMIC SUCCESS: GRANTS THAT SUPPORT PROGRAMS AND SERVICES THAT PROMOTE REGIONAL ECONOMIC SUCCESS. EXPENSES $229,505 INCLUDING GRANTS OF $175,728.YOUTH: GRANTS THAT SUPPORT PROGRAMS AND SERVICES THAT PROMOTE HEALTHY YOUTH DEVELOPMENT. EXPENSES $280,506 INCLUDING GRANTS OF $211,870.BASIC NEEDS: GRANTS THAT SUPPORT PROGRAMS AND SERVICES THAT PROMOTE BASIC HUMAN NEEDS. EXPENSES $204,004 INCLUDING GRANTS OF $157,631.ENVIRONMENT: GRANTS THAT SUPPORT PROGRAMS AND SERVICES THAT PROMOTE PROTECTION OF THE ENVIRONMENT. EXPENSES $51,002 INCLUDING GRANTS OF $46,424.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sharon L Closius President & CEO | Officer | 40 | $169,287 |
Ray Oppel Treasurer / Director | OfficerTrustee | 1 | $0 |
Jack Walsh Chair / Director | OfficerTrustee | 1 | $0 |
Jennifer L Magri Vice-Chair / Director | OfficerTrustee | 1 | $0 |
Marianne Smythe Secretary / Director | OfficerTrustee | 1 | $0 |
Wendy Gamba Chief Financial Officer | Officer | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,740,512 |
| Noncash contributions included in lines 1a–1f | $75,617 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,740,512 |
| Total Program Service Revenue | $0 |
| Investment income | $386,735 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,141,140 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,268,387 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,973,432 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $191,908 |
| Compensation of current officers, directors, key employees. | $28,786 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $234,112 |
| Pension plan accruals and contributions | $29,642 |
| Other employee benefits | $17,613 |
| Payroll taxes | $29,239 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $18,551 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $292,232 |
| Fees for services: Other | $5,665 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $33,511 |
| Travel | $115 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,839 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,551 |
| Insurance | $7,907 |
| All other expenses | $14,838 |
| Total functional expenses | $2,934,479 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,037,433 |
| Pledges and grants receivable | $72,000 |
| 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 | $0 |
| Net Land, buildings, and equipment | $37,249 |
| Investments—publicly traded securities | $23,310,740 |
| Investments—other securities | $11,734,272 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $36,191,694 |
| Accounts payable and accrued expenses | $64,214 |
| Grants payable | $84,941 |
| 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 | $0 |
| Total liabilities | $149,155 |
| Net assets without donor restrictions | $36,042,539 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $36,191,694 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Valley Community Foundation Inc has recieved totaling $27,374.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $15,959 |
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $5,400 |
Ion Bank Foundation Inc Naugatuck, CT PURPOSE: GRANT | $5,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $1,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $15 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Partnership Schools New York, NY | $64,379,139 | $24,282,663 |
Royal College Of Art Usa Inc New York, NY | $1,933,182 | $14,916,047 |
Imago Dei Fund Boston, MA | $57,020,766 | $29,637,241 |
Boston Charitable Trust Fund Boston, MA | $1,173,216 | $4,494,143 |
Nfa Foundation Inc Norwich, CT | $77,129,817 | $5,415,738 |
American Friends Of B Nai Levy Foundation Brooklyn, NY | $493,786 | $13,431,000 |
Rf Catalytic Capital Inc New York, NY | $241,603,034 | $246,273,218 |
Freedom Fund Brooklyn, NY | $51,719,352 | $51,201,158 |
Provision Ministry Inc Westborough, MA | $833,220 | $12,247,682 |
Student Leadership Network Inc New York, NY | $11,626,545 | $12,224,104 |
The Good Nation Foundation Inc New York, NY | $2,105,948 | $9,558,970 |
New York Times Neediest Cases Fund New York, NY | $66,331,518 | $11,554,497 |