New Canaan Community Foundation Inc
- Assets
- $23.6m
- Revenue
- $4.6m
- Investments
- $5.0m
- Employees
- 4
- Location
- New Canaan, CT
- Founding
- 01/1978
- Data as of
- 06/2022
- EIN
- 06-0970466
Organization Overview
New Canaan Community Foundation Inc is located in New Canaan, CT. The organization was established in 1978. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 06/2022, New Canaan Community Foundation Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Canaan 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 06/2022, New Canaan Community Foundation Inc generated $4.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.6% each year. All expenses for the organization totaled $3.5m during the year ending 06/2022. While expenses have increased by 13.1% 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 2017, New Canaan Community Foundation Inc has awarded 773 individual grants totaling $11,657,597. 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 FOUNDATION SERVES AS NEW CANAAN'S LOCAL PARTNER FOR ADVICE, LEADERSHIP, AND FACILITATION OF CHARITABLE GIVING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS ARE MADE TO SUPPORT CAPITAL, PROGRAM AND OPERATING NEEDS OF LOCAL NONPROFIT ORGANIZATIONS.
GRANTS ARE MADE TO PROVIDE SCHOLARSHIP ASSISTANCE FOR NEW CANAAN RESIDENTS WITH FINANCIAL NEED. GRANTS ARE ALSO MADE TO NONPROFIT ORGANIZATIONS TO SUPPORT THEIR SCHOLARSHIP EFFORTS.
THE YOUNG PHILANTHROPISTS PROGRAM WORKS DURING THE SCHOOL YEAR WITH HIGH SCHOOL AGED STUDENTS LIVING OR GOING TO SCHOOL IN NEW CANAAN. STUDENTS LEARN ABOUT NONPROFIT ORGANIZATIONS, LOCAL ISSUES, AND COMMUNITY PHILANTHROPY, AND AWARD GRANTS TO SELECT NONPROFIT ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lauren Patterson President & CEO | Officer | 40 | $136,920 |
Jeffrey Williams Vice Chair, Treasurer | OfficerTrustee | 5 | $0 |
Elizabeth Cahill Secretary | OfficerTrustee | 5 | $0 |
Laura Dobbin Chair | OfficerTrustee | 5 | $0 |
Eileen Boyd Director | Trustee | 2 | $0 |
Dan Rashin Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $14,960 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,239,956 |
| Noncash contributions included in lines 1a–1f | $550,176 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,254,916 |
| Total Program Service Revenue | $1,800 |
| Investment income | $1,044,303 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $207,058 |
| Net Income from Fundraising Events | $107,363 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,615,440 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,593,834 |
| Grants and other assistance to domestic individuals. | $10,229 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $149,573 |
| Compensation of current officers, directors, key employees. | $10,111 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $168,051 |
| Pension plan accruals and contributions | $19,320 |
| Other employee benefits | $31,953 |
| Payroll taxes | $25,156 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $46,012 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $244,989 |
| Fees for services: Other | $25,112 |
| Advertising and promotion | $23,668 |
| Office expenses | $16,004 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $44,856 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $334 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,077 |
| Insurance | $2,056 |
| All other expenses | $7,223 |
| Total functional expenses | $3,548,471 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $62,194 |
| Savings and temporary cash investments | $756,950 |
| 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 | $1,222 |
| Net Land, buildings, and equipment | $5,548 |
| Investments—publicly traded securities | $17,747,855 |
| Investments—other securities | $5,015,023 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $58,006 |
| Total assets | $23,646,798 |
| Accounts payable and accrued expenses | $68,718 |
| Grants payable | $137,775 |
| 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 | $206,493 |
| Net assets without donor restrictions | $10,688,998 |
| Net assets with donor restrictions | $12,751,307 |
| 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 | $23,646,798 |
Grants Awarded
Over the last fiscal year, New Canaan Community Foundation Inc has awarded $2,322,621 in support to 92 organizations.
| Grant Recipient | Amount |
|---|---|
New Canaan, CT PURPOSE: GRANT RECOMMENDED BY DAF | $515,643 |
Norwalk, CT PURPOSE: GRANT TO SUPPORT THE SUMMER BRIDGE MATH INTENSIVE PROGRAM; GRANT TO 2020-21 NCC SCHOLARSHIP | $184,900 |
New Canaan, CT PURPOSE: GRANT RECOMMENDED BY DAF; RESTRICTED GRANTS FOR COVID-19 NEEDS AND PHILANTHROPY LUNCHEON | $100,744 |
TOWN OF NEW CANAAN PURPOSE: GRANT RECOMMENDED BY DAF RESTRICTED TO CONSERVATION COMMISSION | $90,550 |
Darien, CT PURPOSE: RESTRICTED GRANT FOR COVID-19 NEEDS; GRANT TO SUPPORT THE MOBILE FOOD PANTRY | $64,900 |
Baltimore, MD PURPOSE: GRANT RECOMMENDED BY DAF | $60,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that New Canaan Community Foundation Inc has recieved totaling $206,000.
| Awarding Organization | Amount |
|---|---|
Jim And Dede Bartlett Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $200,000 |
The Richard And Barbara Whitcomb Foundation Holyoke, MA PURPOSE: GENERAL SUPPORT | $5,000 |
Mary And George Herbert Zimmerman Foundation Troy, MI PURPOSE: CHARITABLE | $1,000 |
Endowment Analysis
| Beg. Balance | $24,424,026 |
| Earnings | -$3,713,553 |
| Net Contributions | $2,617,504 |
| Other Expense | $744,871 |
| Grants | $2,604,227 |
| Ending Balance | $19,978,879 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Foundation Of Western Massachusetts Springfield, MA | $263,677,089 | $50,890,910 |
Essex County Community Foundation Incorporated Danvers, MA | $116,029,343 | $28,414,247 |
Community Foundations Of The Hudson Valley Poughkeepsie, NY | $96,104,226 | $20,607,422 |
The Berkshire Taconic Community Foundation Inc Sheffield, MA | $235,546,714 | $26,961,716 |
Greater Worcester Community Foundation Inc Worcester, MA | $200,476,252 | $22,847,423 |
Community Foundation Of Herkimer And Oneida Counties Inc Utica, NY | $207,402,752 | $30,922,448 |
Community Foundation Of Eastern Connecticut New London, CT | $123,416,332 | $10,480,728 |
Southcoast Community Foundation Inc New Bedford, MA | $53,147,669 | $13,725,688 |
The Community Foundation For The Greater Capital Region Inc Albany, NY | $120,227,075 | $24,885,752 |
Connecticut Community Foundation Inc Waterbury, CT | $154,014,275 | $11,174,882 |
Adirondack Foundation Lake Placid, NY | $81,334,603 | $18,009,853 |
New York City Partnership Foundation Inc New York, NY | $45,208,462 | $5,342,641 |