Charter Oak State College Foundation Inc is located in New Britain, CT. The organization was established in 1978. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Charter Oak State College 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 06/2021, Charter Oak State College Foundation Inc generated $488.5k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 21.8% each year . All expenses for the organization totaled $151.1k during the year ending 06/2021. While expenses have increased by 3.3% per year over the past 6 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION IS DEDICATED TO SUPPORTING FLEXIBLE AND COMPREHENSIVE DEGREE COMPLETION OPPORTUNITIES FOR STUDENTS OF CHARTER OAK STATE COLLEGE. THE FOUNDATION IS A VEHICLE FOR ACCEPTING DONATIONS FOR ACTIVITIES THAT ARE NOT FUNDED BY THE STATE OF CT OR THE COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WOMEN IN TRANSITION PROGRAM (WIT) - THE WIT PROGRAM PROVIDES FINANCIAL ASSISTANCE TO APPROXIMATELY 35 LOW-INCOME SINGLE PARENTS WHO ARE STUDENTS AT CHARTER OAK STATE COLLEGE. ASSISTANCE IS IN THE FORM SCHOLARSHIPS, FEE ASSISTANCE AND HELP WITH INTERNET EXPENSES.
WIDOW'S FUND - THIS PROGRAM PROVIDES ASSISTANCE TO 23 NEEDY CHARTER OAK STUDENTS. ASSISTANCE CONSISTS OF TUITION AND FEE HELP ALONG WITH HELP WITH INTERNET EXPENSES.
FOUNDATION SCHOLARSHIPS - THE FOUNDATION SCHOLARSHIPS ARE FUNDED THROUGH THE EARNINGS OF THE FOUNDATION'S VARIOUS ENDOWMENTS AND THROUGH ANNUAL FUND DONATIONS. APPROXIMATELY 55 STUDENTS WERE RECIPIENTS OF THESE SCHOLARSHIPS
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Neal Cunningham Vice President | OfficerTrustee | 4 | $0 |
Glenn Davis Treasurer | OfficerTrustee | 4 | $0 |
Rebeka Scalia President | OfficerTrustee | 4 | $0 |
Tony Sheffy Secretary | OfficerTrustee | 4 | $0 |
Carol Hall Exec Director | Officer | 5 | $0 |
Thomas Mcgovern Foundation Accountant | Officer | 10 | $0 |
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 | $36,180 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $36,180 |
Total Program Service Revenue | $176,495 |
Investment income | $63,194 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $212,675 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $488,544 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $129,856 |
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. | $0 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $3,227 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $16,534 |
Fees for services: Other | $0 |
Advertising and promotion | $0 |
Office expenses | $1,464 |
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 | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $0 |
All other expenses | $0 |
Total functional expenses | $151,081 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $49,158 |
Savings and temporary cash investments | $41,318 |
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 | $0 |
Investments—publicly traded securities | $2,713,650 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $625 |
Total assets | $2,804,751 |
Accounts payable and accrued expenses | $0 |
Grants payable | $0 |
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 | $0 |
Net assets without donor restrictions | $1,615,407 |
Net assets with donor restrictions | $1,189,344 |
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 | $2,804,751 |
Over the last fiscal year, we have identified 3 grants that Charter Oak State College Foundation Inc has recieved totaling $37,538.
Awarding Organization | Amount |
---|---|
Hartford Foundation For Public Giving Hartford, CT PURPOSE: SCHOLARSHIPS | $35,000 |
Farmington Bank Community Foundation Inc Hartford, CT PURPOSE: INTENT ON IMPROVING TOMORROW FOR PARENTS | $2,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $38 |
Organization Name | Assets | Revenue |
---|---|---|
Hansjorg Wyss Institute For Biologically Inspired Engineering Boston, MA | $178,608,152 | $47,853,271 |
Stony Brook Foundation Inc Stony Brook, NY | $732,698,663 | $129,247,386 |
University Of Connecticut Foundation Incorporated Storrs, CT | $744,628,423 | $150,826,250 |
University At Buffalo Foundation Inc Buffalo, NY | $1,104,161,290 | $45,943,366 |
Americans For Ben-Gurion University Inc New York, NY | $873,598,749 | $105,090,161 |
Trustees For Harvard University Cambridge, MA | $1,524,141,919 | $57,204,982 |
The University Of Rhode Island Foundation & Alumni Engagement Kingston, RI | $283,152,721 | $40,864,874 |
Anderson Center Services Inc Staatsburg, NY | $47,866,926 | $36,341,767 |
Harvard Private Capital Realty Inc Boston, MA | $2,527,458,180 | $415,073,812 |
Faculty-Student Assoc Of State University Of Ny At Stony Brook Stony Brook, NY | $54,956,974 | $31,334,535 |
University Of Massachusetts Foundation Inc Boston, MA | $842,030,994 | $57,111,837 |
Advanced Functional Fabrics Of America Inc Cambridge, MA | $14,465,650 | $24,588,104 |