United Way of Connecticut

Analysis

United Way of Connecticut is a registered charity in United States, based in Rocky Hill, CT. It received its IRS tax-exemption ruling in April 1985, 41 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 of Connecticut reported income of $37.8m and spending of $37.8m, spending 100% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $20.0m to $37.8m (+89%), an average of +24% a year. The sharpest change came in the year to June 2022, when income rose by 43%. Over the whole period it spent 99% 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 Connecticut sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within CT. Charities of a similar size with the same main cause include Santa Barbara Foundation ($37.8m), Masonic Charity Foundation of New Jersey ($38.0m) and Delaware Community Foundation ($37.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% and program service revenue 2.0% of the total. Compensation of current officers, directors and key employees was $405k (1.1% of expenses). Other salaries and wages came to $19.0m. At year end it held assets of $20.0m against liabilities of $16.7m, net assets of $3.3m. It reported 387 employees.