United Way of Coastal and Western Connecticut Inc

Analysis

United Way of Coastal and Western Connecticut Inc is a registered charity in United States, based in Danbury, CT. It received its IRS tax-exemption ruling in July 1942, 84 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, United Way of Coastal and Western Connecticut Inc reported income of $7.7m and spending of $9.3m, spending 121% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $6.5m to $7.7m (+19%), an average of +4.5% a year. The sharpest change came in the year to June 2021, when income rose by 56%. Over the whole period it spent 101% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, United Way of Coastal and Western Connecticut Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within CT. Charities of a similar size with the same main cause include Womens Foundation of Minnesota ($7.7m), Russell Development Company Inc ($7.7m) and West Bend Community Foundation Inc ($7.7m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 93% of the total. Compensation of current officers, directors and key employees was $918k (9.8% of expenses). Other salaries and wages came to $2.7m. At year end it held assets of $10.7m against liabilities of $2.3m, net assets of $8.4m. It reported 61 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.