The Troy Savings Bank Charitable Foundation Inc
- Assets
- $12.7m
- Revenue
- $1.9m
- Investments
- $12.6m
- Employees
- 0
- Location
- Troy, NY
- Founding
- 03/2001
- Data as of
- 12/2021
- EIN
- 14-1813865
Organization Overview
The Troy Savings Bank Charitable Foundation Inc is located in Troy, NY. The organization was established in 2001. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Troy Savings Bank Charitable 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 12/2021, Troy Savings Bank Charitable Foundation Inc generated $1.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 24.2% each year . All expenses for the organization totaled $1.0m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Troy Savings Bank Charitable Foundation Inc has awarded 272 individual grants totaling $4,352,968. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Leslie Cheu Executive Di | 40 | $116,059 | |
Daniel Hogarty Jr President & | 2 | $0 | |
Lois Arakelian Director | 1 | $0 | |
Sophia Hammett Turner Director | 1 | $0 | |
Micki Massry Director | 1 | $0 | |
Sheila Mendleson Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $61,046 |
| Dividends & Interest | $216,852 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,620,553 |
| Capital Gain Net Income | $1,620,553 |
| Net ST Capital Gain | $240,763 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $501 |
| Total Revenue | $1,898,952 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $116,059 |
| Other employee salaries and wages | $13,189 |
| Pension plans, employee benefits | $23,470 |
| Interest | $0 |
| Taxes | $26,109 |
| Depreciation | $1,800 |
| Occupancy | $5,719 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $61,119 |
| Total operating and administrative expenses | $267,919 |
| Contributions, gifts, grants paid | $764,281 |
| Total expenses and disbursements | $1,032,200 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $26,452 |
| Savings and temporary cash investments | $61,539 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,601 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,053,622 |
| Net Land, buildings, and equipment | $900 |
| Other assets | $19,516 |
| Total assets | $12,717,781 |
| Accounts payable and accrued expenses | $1,015 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $11,759 |
| Total liabilities | $12,774 |
Grants Awarded
Over the last fiscal year, The Troy Savings Bank Charitable Foundation Inc has awarded $764,281 in support to 48 organizations.
| Grant Recipient | Amount |
|---|---|
TROY SAVINGS BANK MUSIC PURPOSE: PROGRAM SUPPORT | $170,029 |
TSB MUSIC HALL CORPORATION PURPOSE: OPERATING SUPPORT | $135,000 |
ACADEMY OF THE HOLY NAMES PURPOSE: PROGRAM SUPPORT | $50,000 |
TRIP INC PURPOSE: PROGRAM SUPPORT | $50,000 |
Troy, NY PURPOSE: PROGRAM SUPPORT | $35,834 |
ST PAUL'S CHURCH PURPOSE: PROGRAM SUPPORT | $35,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Redhill Foundation-Sam And Jean Rothberg Family Charitable Trust New York, NY | $42,979,654 | $7,387,635 |
Stadler Family Charitable Foundation Inc Titusville, NJ | $29,757,304 | $26,067,204 |
Robert W Wilson Charitable Tr New York, NY | $246,803,641 | $15,248,568 |
The Zegar Family Foundation New York, NY | $255,794,688 | $35,430,517 |
Lenfest Foundation Inc Philadelphia, PA | $0 | $560,962 |
The Blackrock Charitable Foundation New York, NY | $304,949,202 | $10,722,340 |
High Meadows Foundation Boston, MA | $7,499,132 | $11,021,494 |
Zankel Fund New York, NY | $8,426,526 | $6,600,017 |
Synchrony Foundation Stamford, CT | $74,474,766 | $12,637,293 |
Gavin Foundation Inc South Boston, MA | $19,688,054 | $21,343,242 |
Jp Fletcher Foundation Inc Cambridge, MA | $29,829,221 | -$3,521,275 |
Estee Lauder Companies Charitable Foundation New York, NY | $35,974,866 | $21,957,506 |