Valley Community Foundation Inc
- Assets
- $32.0m
- Revenue
- $5.1m
- Investments
- $10.5m
- Employees
- 5
- Location
- Derby, CT
- Founding
- 04/2004
- Data as of
- 12/2022
- 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 12/2022, 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 12/2022, Valley Community Foundation Inc generated $5.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $3.5m during the year ending 12/2022. While expenses have increased by 7.6% per year over the past 7 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 2022, Valley Community Foundation Inc has awarded 43 individual grants totaling $1,631,953. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
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.
ARTS AND CULTURE: GRANTS THAT SUPPORT PROGRAMS AND SERVICES THAT PROMOTE ARTS AND CULTURE. EXPENSES $217,526 INCLUDING GRANTS OF $169,727.ECONOMIC SUCCESS: GRANTS THAT SUPPORT PROGRAMS AND SERVICES THAT PROMOTE REGIONAL ECONOMIC SUCCESS. EXPENSES $186,451 INCLUDING GRANTS OF $145,480.YOUTH: GRANTS THAT SUPPORT PROGRAMS AND SERVICES THAT PROMOTE HEALTHY YOUTH DEVELOPMENT. EXPENSES $621,502 INCLUDING GRANTS OF $484,933.BASIC NEEDS: GRANTS THAT SUPPORT PROGRAMS AND SERVICES THAT PROMOTE BASIC HUMAN NEEDS. EXPENSES $186,451 INCLUDING GRANTS OF $145,480.ENVIRONMENT: GRANTS THAT SUPPORT PROGRAMS AND SERVICES THAT PROMOTE PROTECTION OF THE ENVIRONMENT. EXPENSES $62,150 INCLUDING GRANTS OF $48,493.
HEALTH: GRANTS THAT SUPPORT PROGRAMS AND SERVICES THAT ENSURE HEALTH AND WELLNESS.
EDUCATION: GRANTS THAT SUPPORT PROGRAMS AND SERVICES THAT PROVIDE QUALITY EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Angela Powers Director | Trustee | 1 | $0 |
Jack Walsh Chair / Director | OfficerTrustee | 1 | $0 |
Jennifer L Magri Vice-Chair / Director | OfficerTrustee | 1 | $0 |
Ray Oppel Treasurer / Director | OfficerTrustee | 1 | $0 |
Aleta A Miner Secretary / Director | OfficerTrustee | 1 | $0 |
Don Smith Jr Director | Trustee | 1 | $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 | $3,221,082 |
| Noncash contributions included in lines 1a–1f | $39,923 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,221,082 |
| Total Program Service Revenue | $0 |
| Investment income | $385,618 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,510,143 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,116,843 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,424,667 |
| 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. | $196,894 |
| Compensation of current officers, directors, key employees. | $29,534 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $275,681 |
| Pension plan accruals and contributions | $30,671 |
| Other employee benefits | $23,932 |
| Payroll taxes | $32,955 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,165 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $292,231 |
| Fees for services: Other | $5,917 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $41,492 |
| Travel | $273 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,268 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,781 |
| Insurance | $6,717 |
| All other expenses | $7,760 |
| Total functional expenses | $3,475,197 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $760,890 |
| Pledges and grants receivable | $789,923 |
| 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 | $28,571 |
| Investments—publicly traded securities | $19,872,317 |
| Investments—other securities | $10,522,711 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $31,974,412 |
| Accounts payable and accrued expenses | $84,888 |
| Grants payable | $74,355 |
| 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 | $159,243 |
| Net assets without donor restrictions | $31,815,169 |
| 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 | $31,974,412 |
Grants Awarded
Over the last fiscal year, Valley Community Foundation Inc has awarded $1,631,953 in support to 43 organizations.
| Grant Recipient | Amount |
|---|---|
DERBY PUBLIC LIBRARY PURPOSE: ENDOWMENT DISTRIBUTION | $35,000 |
ANSONIA HIGH SCHOOL PURPOSE: AWARDED TO A DESERVING STUDENT | $5,203 |
JULIA DAY NURSERY OF ANSONIA INC PURPOSE: (2:3) GENERAL OPERATING SUPPORT | $30,000 |
VALLEY YMCA PURPOSE: FOR GENERAL PURPOSES | $5,187 |
AREA CONGREGATIONS TOGETHER INC PURPOSE: FOR THE 2022 GREAT GIVE FOR GENERAL OPERATING SUPPORT | $20,000 |
SALVATION ARMY GREATER VALLEY CORPS PURPOSE: (2:3)GENERAL OPERATING SUPPORT | $30,000 |