Community Foundation of Greater New Britain Inc

Analysis

Community Foundation of Greater New Britain Inc is a registered charity in United States, based in New Britain, CT. It received its IRS tax-exemption ruling in April 1943, 83 years ago. 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, Community Foundation of Greater New Britain Inc reported income of $3.0m and spending of $3.3m, spending 107% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.5m to $3.0m (+20%), an average of +4.6% a year. The sharpest change came in the year to December 2021, when income rose by 61%. Over the whole period it spent 82% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Community Foundation of Greater New Britain Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 87th percentile within CT. Charities of a similar size with the same main cause include Utah Electrical Joint Apprenticeship and Training ($3.0m), Big Brothers Big Sisters of Kentuckiana Inc ($3.0m) and Ayurvedic Institute ($3.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 28% of the total. Compensation of current officers, directors and key employees was $361k (11% of expenses). Other salaries and wages came to $356k. At year end it held assets of $56.7m against liabilities of $120k, net assets of $56.6m. It reported 7 employees.