The Troy Savings Bank Charitable Foundation Inc
- Assets
- $12.5m
- Revenue
- $372.4k
- Investments
- $12.3m
- Employees
- 0
- Location
- Troy, NY
- Founding
- 03/2001
- Data as of
- 12/2022
- 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 12/2022, Troy Savings Bank Charitable Foundation Inc generated $372.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (9.1%) each year. All expenses for the organization totaled $627.1k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (10.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Troy Savings Bank Charitable Foundation Inc has awarded 377 individual grants totaling $5,549,502. 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 | $118,730 | |
Lois Arakelian Director | 1 | $0 | |
Robert Fritz Treasurer | 1 | $0 | |
Sophia Hammett Turner Secretary | 1 | $0 | |
Micki Massry Director | 1 | $0 | |
Sheila Mendleson President | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $63,286 |
| Dividends & Interest | $228,141 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $80,939 |
| Capital Gain Net Income | $80,939 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $372,366 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $118,730 |
| Other employee salaries and wages | $13,088 |
| Pension plans, employee benefits | $23,605 |
| Interest | $0 |
| Taxes | $4,908 |
| Depreciation | $900 |
| Occupancy | $5,700 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $61,951 |
| Total operating and administrative expenses | $248,999 |
| Contributions, gifts, grants paid | $378,076 |
| Total expenses and disbursements | $627,075 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $28,645 |
| Savings and temporary cash investments | $65,443 |
| 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 | $25,976 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,093,392 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $21,077 |
| Total assets | $12,451,677 |
| Accounts payable and accrued expenses | $1,046 |
| 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 | $333 |
| Total liabilities | $1,379 |
Grants Awarded
Over the last fiscal year, The Troy Savings Bank Charitable Foundation Inc has awarded $378,076 in support to 47 organizations.
| Grant Recipient | Amount |
|---|---|
ADIRONDACK FOLK SCHOOL INC PURPOSE: PROGRAM SUPPORT | $1,000 |
ARVILLA E DIVER MEMORIAL LIBRARY PURPOSE: PROGRAM SUPPORT | $2,500 |
BIG BROTHERS BIG SISTERS PURPOSE: PROGRAM SUPPORT | $5,000 |
ARTS CENTER OF THE CAPITAL REGION PURPOSE: PROGRAM SUPPORT | $15,000 |
BIG BROTHERS BIG SISTERS PURPOSE: PROGRAM SUPPORT | $15,000 |
BOYS & GIRLS CLUB OF ALBANY PURPOSE: PROGRAM SUPPORT | $10,000 |