United Way Inc Dba United Way of Central & Northeastern CT

Analysis

United Way Inc Dba United Way of Central & Northeastern CT is a registered charity in United States, based in Hartford, CT. It received its IRS tax-exemption ruling in June 1934, 92 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 2023, United Way Inc Dba United Way of Central & Northeastern CT reported income of $13.0m and spending of $10.8m, spending 83% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $20.1m to $13.0m (-35%), an average of -10% a year. The sharpest change came in the year to June 2020, when income dropped by 19%. Over the whole period it spent 94% 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 Inc Dba United Way of Central & Northeastern CT sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 95th percentile within CT. Charities of a similar size with the same main cause include New Voices Foundation ($12.9m), Peter E Haas Jr Family Fund ($13.0m) and Telford Foundation Inc ($12.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 85% of the total. Compensation of current officers, directors and key employees was $775k (7.2% of expenses). Other salaries and wages came to $2.0m. At year end it held assets of $22.1m against liabilities of $4.5m, net assets of $17.7m. It reported 47 employees.