Northwest Connecticut Community Foundation Inc

Analysis

Northwest Connecticut Community Foundation Inc is a registered charity in United States, based in Torrington, CT. It received its IRS tax-exemption ruling in February 2000, 26 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 December 2023, Northwest Connecticut Community Foundation Inc reported income of $11.9m and spending of $6.8m, leaving 43% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.7m to $11.9m (+153%), an average of +26% a year. The sharpest change came in the year to December 2020, when income rose by 73%. Over the whole period it spent 64% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Northwest Connecticut Community Foundation Inc 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 Major League Baseball Charities Inc ($11.9m), United Way of the Mid-South ($11.9m) and Ashland County Community Foundation ($11.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 28% and program service revenue 0.2% of the total. Compensation of current officers, directors and key employees was $249k (3.7% of expenses). Other salaries and wages came to $833k. At year end it held assets of $141.7m against liabilities of $29.8m, net assets of $111.9m.