Westbrook Foundation Inc
- Assets
- $8.9m
- Revenue
- $1.5m
- Investments
- $8.7m
- Employees
- 0
- Location
- Westbrook, CT
- Founding
- 08/1985
- Data as of
- 12/2021
- EIN
- 22-2549826
Organization Overview
Westbrook Foundation Inc is located in Westbrook, CT. The organization was established in 1985. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Westbrook 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, Westbrook Foundation Inc generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 31.7% each year . All expenses for the organization totaled $646.8k during the year ending 12/2021. While expenses have increased by 8.4% 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, Westbrook Foundation Inc has awarded 286 individual grants totaling $1,795,653. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ADMINISTER FUNDS WHOSE INCOME IS TO BE USED FOR THE BENEFIT OF RESIDENTS OF THE TOWN OF WESTBROOK.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE WESTBROOK FOUNDATION, INC. ADMINISTERS THE BARBARA SPENCER MEMORIAL FUND, WHICH WAS ESTABLISHED TO BENEFIT THE PEOPLE OF THE TOWN OF WESTBROOK, CT. DONATIONS WERE MADE TO FUND SCHOLARSHIPS FOR SUMMER CAMP PROGRAMS AT CAMP HAZEN, TO PROVIDE FINANCIAL ASSISTANCE FOR THE LOCAL YOUTH FOOTBALL LEAGUE, TO MAKE RENOVATIONS AT THE LOCAL YMCA, TO FUND A LOCAL RENOVATION PROJECTS, TO SUPPORT THE SHORELINE SOUP KITCHENS, AND TO PROVIDE FINANCIAL ASSISTANCE TO THE TOWN AND OTHER WESTBROOK ORGANIZATIONS.
THE WESTBROOK FOUNDATION, INC. ADMINISTERS SEVERAL SCHOLARSHIP FUNDS ESTABLISHED TO MEET THE EDUCATIONAL NEEDS OF RESIDENTS OF THE TOWN OF WESTBROOK, CT (POPULATION APPROXIMATELY 7,000). 50 RESIDENTS RECEIVED SCHOLARSHIPS IN 2018 TO ASSIST THEM IN PAYING THEIR COLLEGE TUITION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joan Angelini Director | 1 | $0 | |
Lawrence Lariviere Treasurer | 3 | $0 | |
Kathleen Cietanno Director | 1 | $0 | |
Paul Winch Chairperson | 2 | $0 | |
Jeff Dickey Secretary | 2 | $0 | |
Sid Holbrook Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $12,885 |
| Interest on Savings | $0 |
| Dividends & Interest | $282,734 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,197,039 |
| Capital Gain Net Income | $1,197,039 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,492,658 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $40,235 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $9,408 |
| Other expenses | $31,830 |
| Total operating and administrative expenses | $193,086 |
| Contributions, gifts, grants paid | $453,733 |
| Total expenses and disbursements | $646,819 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $257,434 |
| 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 | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $295,865 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $8,948,581 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Westbrook Foundation Inc has awarded $453,733 in support to 89 organizations.
| Grant Recipient | Amount |
|---|---|
TOWN OF WESTBROOK PURPOSE: GRANTS TO BENEFIT THE RESIDENTS OF THE TOWN OF WESTBROOK | $51,200 |
Westbrook, CT PURPOSE: ANNUAL DAISY INGRAHAM FIT KIDS PROGRAM GRANT | $48,250 |
SHORELINE SOUP KITCHEN PURPOSE: FEED THOSE IN NEED | $40,000 |
FIRST CONGREGATIONAL CHURCH OF WEST PURPOSE: GRANT FOR FIRE SUPRESSION SYSTEM UPGRADE | $30,000 |
SAFE HARBOR PURPOSE: TO SUPPORT FACILITY IMPROVEMENTS. | $23,631 |
WESTBROOK HISTORICAL SOCIETY INC PURPOSE: GRANT TOWARDS REPAIRS OF GRAVESTONES IN OLD BURYING GROUND AND THE LOWER CEMETERY | $18,100 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Westbrook Foundation Inc has recieved totaling $250.
| Awarding Organization | Amount |
|---|---|
Updike Kelly & Spellacy Charitable Foundation Inc Hartford, CT PURPOSE: GENERAL OPERATIONS OF ORGANIZATION | $250 |
Endowment Analysis
| Beg. Balance | $4,904,420 |
| Earnings | $1,983,711 |
| Admin Expense | $99,138 |
| Grants | $182,303 |
| Ending Balance | $6,606,690 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Actblue Civics Inc Somerville, MA | $9,393,713 | $97,519,174 |
New York State Technology Enterprise Corporation Rome, NY | $60,981,617 | $75,235,119 |
Hamaskpik Of Rockland County Inc Monsey, NY | $63,578,748 | $60,740,286 |
Comunilife Inc New York, NY | $31,660,998 | $48,925,659 |
Julia Dyckman Andrus Memorial Inc Yonkers, NY | $77,963,384 | $42,844,151 |
Wildwood Programs Inc Latham, NY | $26,961,317 | $41,590,830 |
Dana-Farber Inc Boston, MA | $2,427,985,539 | $197,856,829 |
Green Chimneys Childrens Services Inc Brewster, NY | $40,286,634 | $28,138,217 |
Times Square District Management Association New York, NY | $18,451,564 | $28,017,921 |
52 Broadway Realty Corp New York, NY | $50,887,165 | $15,066,010 |
Benhaven Inc North Haven, CT | $15,268,980 | $23,482,851 |
Catalyst Inc New York, NY | $56,172,197 | $22,153,415 |