The Northwest Connecticut Community Foundation Trust
- Assets
- $7.4m
- Revenue
- $428.8k
- Investments
- $0.0
- Employees
- 10
- Location
- Torrington, CT
- Founding
- 02/1970
- Data as of
- 12/2021
- EIN
- 06-6114199
Organization Overview
The Northwest Connecticut Community Foundation Trust is located in Torrington, CT. The organization was established in 1970. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Northwest Connecticut Community Foundation Trust employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northwest Connecticut Community Foundation Trust 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 12/2021, Northwest Connecticut Community Foundation Trust generated $428.8k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 22.8% each year . All expenses for the organization totaled $333.4k during the year ending 12/2021. While expenses have increased by 0.8% 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 2015, Northwest Connecticut Community Foundation Trust has awarded 52 individual grants totaling $787,542. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ENHANCE QUALITY OF LIFE FOR CITIZENS IN ITS SERVICE AREA BY IDENTIFYING AND RESPONDING TO COMMUNITY NEEDS BY PROVIDING FINANCIAL ASSISTANCE IN THE FORM OF SCHOLARSHIPS AND GRANTS TO 501(C)(3) ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INCOME FROM INVESTMENTS IS TO BE DISTRIBUTED ANNUALLY TO WORTHY 501 (C)(3) RECIPIENTS AS SELECTED BY THE GRANTS COMMITTEE. FUNDS HAVE BEEN ESTABLISHED BY MANY SEPARATE DONORS FOR THE BENEFIT OF THE RESIDENTS OF BARKHAMSTED, BETHLEHEM, CANAAN/FALLS VILLAGE, COLEBROOK, CORNWALL, GOSHEN, HARTLAND, HARWINTON,LITCHFIELD, MORRIS, NEW HARTFORD, NORFOLK, NORTH CANAAN, SALISBURY, TORRINGTON, WASHINGTON, WARREN OR WINSTED. THE FOUNDATION WILL, AS DESIGNATED BY THE DONOR'S GIFT INSTRUMENT, EXPAND THE SCOPE OF ITS PHILANTHROPIC ACTIVITIES WITHOUT RESTRICTION TO ANY GEOGRAPHIC LOCATION. IN ADDITION, FINANCIAL ASSISTANCE IN THE FORM OF SCHOLARSHIPS IS AWARDED TO LOCAL INDIVIDUALS PURSUING HIGHER EDUCATION. IN 2021, GRANTS IN THE AMOUNT OF $102,500 WERE AWARDED AND FINANCIAL ASSISTANCE IN THE FORM OF SCHOLARSHIPS WAS PROVIDED IN THE AMOUNT OF $20,000.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Guy Rovezzi President | Officer | 5 | $206,052 |
F Robert Petricone 2nd Vice Chair | OfficerTrustee | 1 | $0 |
Jim Blackketter Secretary | OfficerTrustee | 1 | $0 |
Anne Sutherland Fuchs Chairman | OfficerTrustee | 1 | $0 |
Adrian Selby 1st Vice Chair | OfficerTrustee | 1 | $0 |
Don Mayland Treasurer | OfficerTrustee | 1 | $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 | $185,038 |
| Noncash contributions included in lines 1a–1f | $14,198 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $185,038 |
| Total Program Service Revenue | $0 |
| Investment income | $242,154 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,606 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $428,798 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $162,634 |
| Grants and other assistance to domestic individuals. | $20,000 |
| 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 | $95,890 |
| Fees for services: Legal | $1,843 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $52,446 |
| Fees for services: Other | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $333,393 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $331,223 |
| 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 | $5,151,136 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,888,277 |
| Total assets | $7,370,636 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $142,025 |
| 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 | $142,025 |
| Net assets without donor restrictions | $6,322,684 |
| Net assets with donor restrictions | $905,927 |
| 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 | $7,370,636 |
Grants Awarded
Over the last fiscal year, The Northwest Connecticut Community Foundation Trust has awarded $131,034 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
Torrington, CT PURPOSE: General operating support | $60,134 |
Torrington, CT PURPOSE: General Operating Support | $12,850 |
Torrington, CT PURPOSE: SUPPORT CAPITAL CAMPAIGN | $12,350 |
Hartford, CT PURPOSE: Early Childhood Collab Membership | $7,500 |
Torrington, CT PURPOSE: General operating support | $7,450 |
WINCHESTER YOUTH SERV BUREAU PURPOSE: Support Leaders in Training Program | $7,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that The Northwest Connecticut Community Foundation Trust has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $10,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $10,000 |
Endowment Analysis
| Beg. Balance | $5,857,950 |
| Earnings | $1,309,671 |
| Admin Expense | $97,733 |
| Grants | $122,500 |
| Ending Balance | $6,947,388 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Harold Grinspoon Foundation Agawam, MA | $968,665,027 | $58,159,410 |
Jader Trust 4 New York, NY | $1,054,851,689 | $157,383,970 |
Rockefeller Family Fund Inc New York, NY | $156,631,848 | $43,772,368 |
Shapiro-Silverberg Foundation New York, NY | $41,665,129 | $24,069,378 |
Hess Philanthropic Fund New York, NY | $231,447,732 | $32,591,174 |
Natural Heritage Trust Albany, NY | $68,314,961 | $23,861,363 |
Hollow Metal Trust Fund New York, NY | $38,290,021 | $12,661,866 |
Halvorsen Family Foundation Greenwich, CT | $235,306,066 | $4,015,208 |
Lynch Foundation Boston, MA | $176,006,196 | $42,142,694 |
Foundation Berma New York, NY | $320,553,699 | $33,382,644 |
Bam Endowment Trust Brooklyn, NY | $106,959,115 | $5,566,840 |
John R Oishei Consolidated Tr 01091998 Buffalo, NY | $21,967,662 | $5,743,689 |