Mclean Fund
- Assets
- $61.0m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Simsbury, CT
- Founding
- 07/1968
- Data as of
- 09/2021
- EIN
- 06-6026241
Organization Overview
Mclean Fund is located in Simsbury, CT. The organization was established in 1968. According to its NTEE Classification (P75) the organization is classified as: Supportive Housing for Older Adults, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mclean Fund 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 09/2021, Mclean Fund generated $2.9m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 20.2% each year . All expenses for the organization totaled $687.1k during the year ending 09/2021. 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 MCLEAN FUND CARRIES OUT THE PUBLIC AND CHARITABLE PURPOSES SET FORTH IN THE WILL OF SENATOR GEORGE P. MCLEAN. THE PURPOSES OF THE FUND ARE THE SUPPORT OF THE MCLEAN GAME REFUGE, A 501(C)(3) NATURE PRESERVE OF OVER 4,400 ACRES THAT IS OPEN TO THE PUBLIC, AND SUPPORT OF MCLEAN AFFILIATES, A 501(C)(3) ORGANIZATION WHICH PROVIDES CARE, MAINTENANCE, WELFARE, SUPPORT, NURSING AND MEDICAL ASSISTANCE TO ITS RESIDENTS AND THE COMMUNITY AT LARGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THIS FUNDING IS TO SUPPORT MCLEAN AFFILIATES, INC. (EIN #26-1960246) IN PROVIDING CARE, MAINTENANCE, WELFARE, SUPPORT, NURSING AND MEDICAL ASSISTANCE TO ITS RESIDENTS AND THE COMMUNITY AT LARGE. MCLEAN AFFILIATES PROGRAM METRICS: A)LONG TERM CARE - 18,687 INPATIENT DAYS; B)POST ACUTE REHABILITATION 5,713 INPATIENT DAYS; C)ASSISTED LIVING 18,251 DAYS OF CARE; D)HOSPICE 4,558 VISITS; E)HOME CARE 14,382 CLIENT VISITS; F)HOME DELIVERED MEALS 31,506; G) AND OUTPATIENT REHABILITATION SERVICES 5,634 VISITS.
THIS FUNDING IS TO SUPPORT THE MCLEAN GAME REFUGE, INC. (EIN#26-1960261) WHICH IS A NATURAL PRESERVE TOTALING OVER 4,400 ACRES IN THE TOWNS OF GRANBY, SIMSBURY, AND CANTON, CONNECTICUT. THE GAME REFUGE IS OPEN TO THE PUBLIC FOR NATURE STUDY AND RECREATION WITHOUT CHARGE ON A YEAR ROUND BASIS. IT IS RECOGNIZED BY THE NATIONAL PARK SERVICE AS A NATIONAL NATURAL AREA.
MCLEAN FUND ENGAGED EXPERTS IN THE FIELDS OF MARKETING, HEALTH CARE REIMBURSEMENT, ATTORNEYS, AND SENIOR LIVING CONSULTANTS TO DEVELOP STRATEGIES THAT MAKE GOOD USE OF THE FUND'S ASSETS IN THE EVOLVING FIELD OF PROVIDING SENIOR CITIZEN SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Paine Chairperson | OfficerTrustee | 3 | $0 |
David J Bordonaro President | Officer | 5 | $0 |
Carol Barno VP Of Finance & CFO | Officer | 2 | $0 |
Lisa Clark Secretary | Officer | 1 | $0 |
Kathleen Alsgaard Trustee | Trustee | 2 | $0 |
James Cox-Chapman Trustee | Trustee | 2 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $1,329,362 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $96,249 |
| Net Gain/Loss on Asset Sales | $1,481,896 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,907,507 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $569,800 |
| 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 | $3,070 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $31,267 |
| Fees for services: Other | $29,062 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $53,945 |
| All other expenses | $0 |
| Total functional expenses | $687,144 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $250,222 |
| Savings and temporary cash investments | $0 |
| 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 | $43,444 |
| Net Land, buildings, and equipment | $280,050 |
| Investments—publicly traded securities | $60,379,137 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $60,952,853 |
| Accounts payable and accrued expenses | $150,571 |
| 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 | $150,571 |
| Net assets without donor restrictions | $0 |
| 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 | $60,802,282 |
| Total liabilities and net assets/fund balances | $60,952,853 |
Grants Awarded
Over the last fiscal year, Mclean Fund has awarded $569,800 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Simsbury, CT PURPOSE: FUNDING TO SUPPORT MCLEAN AFFILIATES | $334,000 |
Simsbury, CT PURPOSE: FUNDING TO SUPPORT MCLEAN GAME REFUGE | $235,800 |
Endowment Analysis
| Beg. Balance | $50,517,579 |
| Earnings | $10,548,702 |
| Admin Expense | $31,267 |
| Other Expense | $86,077 |
| Grants | $569,800 |
| Ending Balance | $60,379,137 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Newbridge On The Charles Inc Boston, MA | $302,355,064 | $54,466,975 |
Old Colony Elder Services Inc Brockton, MA | $21,708,151 | $57,499,133 |
Masonicare Health Center Wallingford, CT | $30,328,856 | $51,314,223 |
Trustees Of The Masonic Hall And Asylum Fund New York, NY | $379,711,052 | $51,080,560 |
New York Armenian Home Inc Forest Hills, NY | $920,237 | $91,924 |
North Hill Needham Inc Needham, MA | $218,215,357 | $46,801,004 |
Church Home Of Hartford Bloomfield, CT | $129,665,157 | $38,203,395 |
Church Homes Inc Congregational Hartford, CT | $66,814,716 | $47,094,677 |
Carleton Willard Homes Inc Bedford, MA | $84,483,009 | $38,647,048 |
The Gerry Homes Gerry, NY | $84,710,797 | $32,122,668 |
Fallon Health Weinberg Inc Getzville, NY | $39,412,564 | $35,899,883 |
Peconic Landing At Southold Inc Greenport, NY | $144,140,145 | $36,575,086 |