Centreville Savings Bank Charitable Foundation
- Assets
- $28.1m
- Revenue
- $2.2m
- Investments
- $27.2m
- Employees
- 0
- Location
- West Warwick, RI
- Founding
- 08/2008
- Data as of
- 12/2021
- EIN
- 51-0673508
Organization Overview
Centreville Savings Bank Charitable Foundation is located in West Warwick, RI. The organization was established in 2008. 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. Centreville Savings 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 12/2021, Centreville Savings Bank Charitable Foundation generated $2.2m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 14.6% each year . All expenses for the organization totaled $1.2m during the year ending 12/2021. While expenses have increased by 18.4% per year over the past 5 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, Centreville Savings Bank Charitable Foundation has awarded 323 individual grants totaling $5,620,187. 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 Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Harold Horvat Director | 1 | $0 | |
Jillian Deshiro Director/cfo | 1 | $0 | |
Mary Halpin Director | 1 | $0 | |
Mark Noble Director | 1 | $0 | |
Jhonny Leyva Director | 1 | $0 | |
Lisa Laliberte Secretary | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $15 |
| Dividends & Interest | $454,412 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,708,878 |
| Capital Gain Net Income | $1,722,468 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $2,163,305 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $25,000 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $50 |
| Total operating and administrative expenses | $62,462 |
| Contributions, gifts, grants paid | $1,134,125 |
| Total expenses and disbursements | $1,196,587 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $131,291 |
| Savings and temporary cash investments | $772,935 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $28,072,731 |
| 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, Centreville Savings Bank Charitable Foundation has awarded $1,291,125 in support to 95 organizations.
| Grant Recipient | Amount |
|---|---|
Providence, RI PURPOSE: EXEMPT PURPOSE | $125,000 |
SHRI AT 390 PINE STREET PURPOSE: EXEMPT PURPOSE | $100,000 |
Branford, CT PURPOSE: EXEMPT PURPOSE | $73,100 |
Pawtucket, RI PURPOSE: EXEMPT PURPOSE | $60,000 |
North Grosvenordale, CT PURPOSE: EXEMPT PURPOSE | $52,000 |
Woonsocket, RI PURPOSE: EXEMPT PURPOSE | $50,300 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Massmutual Foundation Inc Springfield, MA | $16,295,000 | $8,380,000 |
Lone Pine Foundation Inc Greenwich, CT | $70,601,962 | $14,308,044 |
Fiduciary Charitable Foundation Boston, MA | $117,480,981 | $103,573,534 |
Salem Foundation Providence, RI | $36,287,179 | $36,691,105 |
Arbella Insurance Foundation Inc Boston, MA | $24,058,916 | $7,386,813 |
Gordon Family Foundation Boston, MA | $69,748,192 | $26,669,267 |
Rx Foundation Hadley, MA | $50,754,617 | $6,084,053 |
New England Patriots Charitable Foundation Inc Foxboro, MA | $3,485,294 | $4,177,476 |
Analog Devices Foundation Boston, MA | $30,375,749 | $1,239,762 |
Hastings Family Foundation Inc Boston, MA | $805,455 | $1,002,105 |
Avangrid Foundation Inc Orange, CT | $4,008,456 | $2,609,665 |
The@pitney Bowes Employee Involvement Fund Inc Stamford, CT | $705,026 | $2,000,866 |