4-Ct Corp
- Assets
- $4.4m
- Revenue
- $6.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Westport, CT
- Founding
- Data as of
- 09/2021
- EIN
- 85-0535172
Organization Overview
4-Ct Corp is located in Westport, CT. According to its NTEE Classification (T30) the organization is classified as: Public 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. 4-Ct Corp 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 09/2021, 4-Ct Corp generated $6.9m in total revenue. All expenses for the organization totaled $2.7m during the year ending 09/2021. While expenses have increased by 189.7% per year over the past 2 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE DIRECT AID AND SUPPORT FOR PROGRAMS THAT PROVIDED IMMEDIATE ASSISTANCE TO CONNECTICUT RESIDENTS MOST ADVERSELY IMPACTED BY COVID-19.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN MARCH 2020, A DONOR ADVISED FUND -DAF-CALLED THE 4-CT STATEWIDECOVID-19 RELIEF FUND, "THE FUND", WAS ESTABLISHED BY DONALD KENDALL, JR., THE FOUNDER AND CHAIR OF 4-CT CORP, WITH THE HARTFORD FOUNDATION FOR PUBLIC GIVING ("THE HFPG"). DON KENDALL, JR. THE FUND'S PRIMARY FUND ADVISOR, APPOINTED THE BOARD OF DIRECTORS OF 4-CT CORP AS ITS INDEPENDENT ADVISORY COMMITTEE. THE DAF AGREEMENT FOR THE FUND STIPULATES THAT THE HFPG OWNS THE FUND AND HAS THE FULL AND ULTIMATE AUTHORITY, DISCRETION AND EXCLUSIVE LEGAL CONTROL OVER ALL PROPERTY IN THE FUND AND THE WISHES OF THE FUND ADVISOR(S) ARE ADVISORY IN NATURE ONLY AND ARE NOT BINDING ON THE HFPG BOARD OF DIRECTORS. DURING THE FISCAL YEAR ENDING SEPTEMBER 30, 2020, PROGRAM INFORMATION AND DUE DILIGENCE PRODUCED BY 4-CT CORP WAS USED TO PROVIDE GRANT RECOMMENDATIONS TO HFPG. ALL GRANTS AND CONTRIBUTIONS RECOMMENDED BY 4-CT CORP DURING THIS PERIOD, TOTALING OVER $13 MILLION WERE DISTRIBUTED VIA THE HFPG- DAF WITH CORRESPONDING GRANT AGREEMENTS. 4-CT CORP WAS INCORPORATED IN MARCH 2020 AND RECEIVED ITS FEDERAL INCOME TAX EXEMPTION UNDER INTERNAL REVENUE CODE SECTION 501(C)(3) AND PUBLIC CHARITY STATUS 170(B)(1)(A)(VI) ON JUNE 12, 2020.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathy Hodge Secretary | OfficerTrustee | 5 | $0 |
Donald Kendall Chairman, Executive Chair | OfficerTrustee | 10 | $0 |
Roy Berger Treasurer | OfficerTrustee | 5 | $0 |
Ted Yang Ceo, President (thru 3/21/21) | Officer | 20 | $0 |
Catalina Samper-Horak Interim CEO | Officer | 40 | $0 |
Colette Chestnut Director Of Finance/operations | Officer | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $202,800 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,727,609 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,930,409 |
| Total Program Service Revenue | $0 |
| Investment income | $1,453 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,931,887 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $203,602 |
| Grants and other assistance to domestic individuals. | $2,021,472 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $90,973 |
| Compensation of current officers, directors, key employees. | $19,234 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $200,761 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $6,717 |
| Payroll taxes | $29,698 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,913 |
| Fees for services: Accounting | $31,160 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $58,000 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $30,415 |
| Advertising and promotion | $9,641 |
| Office expenses | $0 |
| Information technology | $8,595 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,168 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,711,900 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $65,781 |
| Savings and temporary cash investments | $4,166,453 |
| Pledges and grants receivable | $1,000 |
| Accounts receivable, net | $116,605 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,552 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $13,748 |
| Other assets | $0 |
| Total assets | $4,368,139 |
| Accounts payable and accrued expenses | $28,640 |
| Grants payable | $100,000 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $128,640 |
| Net assets without donor restrictions | $4,139,499 |
| Net assets with donor restrictions | $100,000 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,368,139 |
Grants Awarded
Over the last fiscal year, 4-Ct Corp has awarded $203,602 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
CONNECTICUT DEPT OF ECONOMIC AND COMM DEV PURPOSE: General Support | $100,000 |
Waterbury, CT PURPOSE: General Support | $36,096 |
Wallingford, CT PURPOSE: General Support | $30,821 |
New Haven, CT PURPOSE: General Support | $20,000 |
Hartford, CT PURPOSE: General Support | $16,685 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that 4-Ct Corp has recieved totaling $2,835,037.
| Awarding Organization | Amount |
|---|---|
Goldman Sachs Philanthropy Fund New York, NY PURPOSE: COMMUNITY & HUMAN SERVICES | $1,000,000 |
Hartford Foundation For Public Giving Hartford, CT PURPOSE: GENERAL SUPPORT | $750,000 |
Hartford Foundation For Public Giving Hartford, CT PURPOSE: COVID-19 | $367,631 |
Norwitt Family Charitable Foundation West Hartford, CT PURPOSE: GENERAL PURPOSE | $250,000 |
Fairfield Countys Community Foundation Inc Norwalk, CT PURPOSE: FOR GENERAL SUPPORT. | $250,000 |
Hartford Foundation For Public Giving Hartford, CT PURPOSE: BASIC HUMAN NEEDS | $127,051 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Partnership Schools New York, NY | $64,379,139 | $24,282,663 |
Royal College Of Art Usa Inc New York, NY | $1,933,182 | $14,916,047 |
Imago Dei Fund Boston, MA | $57,020,766 | $29,637,241 |
Boston Charitable Trust Fund Boston, MA | $1,173,216 | $4,494,143 |
Nfa Foundation Inc Norwich, CT | $77,129,817 | $5,415,738 |
American Friends Of B Nai Levy Foundation Brooklyn, NY | $493,786 | $13,431,000 |
Rf Catalytic Capital Inc New York, NY | $241,603,034 | $246,273,218 |
Freedom Fund Brooklyn, NY | $51,719,352 | $51,201,158 |
Provision Ministry Inc Westborough, MA | $833,220 | $12,247,682 |
Student Leadership Network Inc New York, NY | $11,626,545 | $12,224,104 |
The Good Nation Foundation Inc New York, NY | $2,105,948 | $9,558,970 |
New York Times Neediest Cases Fund New York, NY | $66,331,518 | $11,554,497 |