Milford Bank Foundation Inc
- Assets
- $476.3k
- Revenue
- $51.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Milford, CT
- Founding
- 04/2003
- Data as of
- 12/2023
- EIN
- 02-0600478
Organization Overview
Milford Bank Foundation Inc is located in Milford, CT. The organization was established in 2003. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Milford Bank 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 12/2023, Milford Bank Foundation Inc generated $51.3k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 7.7% each year. All expenses for the organization totaled $47.9k during the year ending 12/2023. While expenses have increased by 13.8% per year over the past 9 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 2015, Milford Bank Foundation Inc has awarded 274 individual grants totaling $263,025. 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 |
|---|---|---|---|
Susan L Shields President & Chair | 0 | $0 | |
David B Rubin Board Vice Chair | 0 | $0 | |
Michael A Capodanno Treasurer | 0 | $0 | |
Anne Marie Lenart Secretary | 0 | $0 | |
John A Harkins Board Member | 0 | $0 | |
Joy Topazian Moore Board Member | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $50,000 |
| Interest on Savings | $302 |
| Dividends & Interest | $4,080 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$3,041 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $51,341 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $24 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $662 |
| Total operating and administrative expenses | $686 |
| Contributions, gifts, grants paid | $47,250 |
| Total expenses and disbursements | $47,936 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $476,347 |
| Savings and temporary cash investments | $0 |
| 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 | $476,347 |
| 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, Milford Bank Foundation Inc has awarded $47,250 in support to 23 organizations.
| Grant Recipient | Amount |
|---|---|
BOYS & GIRLS CLUB OF MILFORD PURPOSE: UNRESTRICTED | $2,000 |
BRIDGES HEALTHCARE INC PURPOSE: UNRESTRICTED | $1,000 |
FREELOVE BALDWIN STOW CHAPTER DAR PURPOSE: UNRESTRICTED | $500 |
EMERGE INC PURPOSE: UNRESTRICTED | $2,000 |
FRIENDS OF THE MILFORD LIBRARY PURPOSE: UNRESTRICTED | $500 |
GIVING TABLE THE FORAN HS PURPOSE: UNRESTRICTED | $500 |