Webster Bank Charitable Foundation
- Assets
- $7.1m
- Revenue
- $520.9k
- Investments
- $7.0m
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 05/2004
- Data as of
- 12/2023
- EIN
- 32-0103899
Organization Overview
Webster Bank Charitable Foundation is located in Wilmington, DE. The organization was established in 2004. According to its NTEE Classification (T21) the organization is classified as: Corporate 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. Webster Bank Charitable Foundation 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 12/2023, Webster Bank Charitable Foundation generated $520.9k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.3% each year . All expenses for the organization totaled $4.0m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Webster Bank Charitable Foundation has awarded 1,766 individual grants totaling $12,009,208. 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 |
|---|---|---|---|
James Blose Dir, Sec | 1 | $0 | |
John Ciulla Dir | 1 | $0 | |
Javier Evans Dir | 1 | $0 | |
Amy Jakobeit Dir | 1 | $0 | |
Glenn Macinnes Dir, Treas | 1 | $0 | |
Luis Massiani Dir, Sec | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $680,000 |
| Interest on Savings | $2,491 |
| Dividends & Interest | $273,232 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$434,861 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $520,862 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $19,833 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $29,344 |
| Total operating and administrative expenses | $49,777 |
| Contributions, gifts, grants paid | $3,950,317 |
| Total expenses and disbursements | $4,000,094 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $69,700 |
| 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 | $307 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $7,094,937 |
| Accounts payable and accrued expenses | $36,260 |
| 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 | $36,260 |
Grants Awarded
Over the last fiscal year, Webster Bank Charitable Foundation has awarded $3,950,317 in support to 281 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN CONSUMER CREDIT COUNSELING INC PURPOSE: PROGRAM SUPPORT FOR THE CREDITU MOBILE APP | $5,000 |
ALI FORNEY CENTER PURPOSE: PROGRAM SUPPORT TO PROTECT LGBTQ+ YOUTH FROM HOMELESSNESS | $10,000 |
ALWAYS HOME INC PURPOSE: HOUSING STABILITY PROGRAM SUPPORT | $2,500 |
AMENITY AID PURPOSE: GENERAL & UNRESTRICTED | $1,000 |
AMERICAN NATIONAL RED CROSS PURPOSE: GENERAL & UNRESTRICTED | $125 |
AMERICAN NATIONAL RED CROSS PURPOSE: GENERAL & UNRESTRICTED | $500 |