W L Gilbert Trust Corporation
- Assets
- $9.4m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 17
- Location
- Winsted, CT
- Founding
- 10/1931
- Data as of
- 06/2021
- EIN
- 06-0669114
Organization Overview
W L Gilbert Trust Corporation is located in Winsted, CT. The organization was established in 1931. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2021, W L Gilbert Trust Corporation employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. W L Gilbert Trust Corporation 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 06/2021, W L Gilbert Trust Corporation generated $1.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (7.2%) each year. All expenses for the organization totaled $1.8m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (9.5%) per year over the past 6 years. 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
PROVIDE SUPPORT TO THE W.L. GILBERT SCHOOL CORPORATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO SUPPORT THE W.L. GILBERT SCHOOL CORPORATION WHICH OPERATES A SECONDARY SCHOOL FOR RESIDENTS OF THE TOWNS OF WINCHESTER AND HARTLAND, CT.
INTERNATIONAL RESIDENCY PROGRAM:THE TRUST HAS IN ESSENCE BECOME A SENDING DISTRICT AND STUDENTS IN THAT PROGRAM ATTEND THE GILBERT SCHOOL. THE TRUST PAYS PER-PUPIL TUITION TO THE SCHOOL. AT THE START OF THIS FISCAL YEAR THERE ARE 29 FULL-YEAR STUDENTS AND 4 SPRING STUDENTS IN THE PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy Cronin Development Dir. | 40 | $114,747 | |
Anthony Serio Head Of Schools | Officer | 20 | $97,823 |
Charles F Seaback President | OfficerTrustee | 2 | $0 |
Jennifer Marchand Treasurer | OfficerTrustee | 2 | $0 |
Astrid H Robitaille Secretary | OfficerTrustee | 2 | $0 |
Ellen C Marino Vice President | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Northeast Strudent Consulting Llc Recruitment | 6/29/17 | $226,400 |
Ashe Contruction Construction | 6/29/17 | $2,245,583 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $118,750 |
| All other contributions, gifts, grants, and similar amounts not included above | $606,384 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $725,134 |
| Total Program Service Revenue | $834,619 |
| Investment income | $118,491 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,401 |
| Net Gain/Loss on Asset Sales | $112,289 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,792,934 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $18,508 |
| Grants and other assistance to domestic individuals. | $140,682 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $108,568 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $455,694 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $73,059 |
| Payroll taxes | $36,555 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,560 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $25,906 |
| Fees for services: Other | $10,035 |
| Advertising and promotion | $0 |
| Office expenses | $12,564 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $85,362 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $171,142 |
| Insurance | $0 |
| All other expenses | $14,913 |
| Total functional expenses | $1,764,989 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $39,224 |
| Savings and temporary cash investments | $408,499 |
| Pledges and grants receivable | $0 |
| 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 | $3,438,227 |
| Investments—publicly traded securities | $5,441,380 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $76,262 |
| Total assets | $9,403,592 |
| Accounts payable and accrued expenses | $212,242 |
| Grants payable | $0 |
| Deferred revenue | $180,085 |
| 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 | $2,880,797 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,273,124 |
| Net assets without donor restrictions | $1,408,526 |
| Net assets with donor restrictions | $4,721,942 |
| 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 | $9,403,592 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that W L Gilbert Trust Corporation has recieved totaling $46,400.
| Awarding Organization | Amount |
|---|---|
Northwest Connecticut Community Foundation Inc Torrington, CT PURPOSE: General Support | $46,400 |
Endowment Analysis
| Beg. Balance | $4,376,419 |
| Earnings | $1,027,952 |
| Admin Expense | $154,314 |
| Net Contributions | $368,254 |
| Other Expense | $100,669 |
| Ending Balance | $5,517,642 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hunter College Foundation Inc New York, NY | $144,509,988 | $37,248,838 |
The American Friends Of Winchester College New York, NY | $259,900 | $15,435,931 |
Friends Of@ascend Charter Schools Inc Brooklyn, NY | $51,013,536 | $16,135,870 |
Equitable Facilities Fund Inc New York, NY | $843,754,758 | $34,535,002 |
Dudley Square Realty Corporation Boston, MA | $98,074,702 | $123 |
Auxiliary Campus Enterprises And Services State University College Alfred, NY | $11,814,689 | $16,740,654 |
College Of Staten Island Auxiliary Services Corp Inc Staten Island, NY | $62,695,629 | $9,780,570 |
American Friends Of The National Gallery London Inc New York, NY | $305,852,204 | $2,300,126 |
Auxiliary Services Corporation Of Suny Cortland Cortland, NY | $19,099,097 | $10,450,642 |
The Roosevelt Institute New York, NY | $39,947,474 | $14,561,739 |
Empire Commons Student Housing Inc Albany, NY | $47,889,992 | $16,000,956 |
Prep For Prep New York, NY | $67,702,952 | $11,458,262 |