Greater Hartford Community Foundation Inc

Analysis

Greater Hartford Community Foundation Inc is a registered charity in United States, based in Hartford, CT. It received its IRS tax-exemption ruling in May 2006, 20 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Greater Hartford Community Foundation Inc reported income of $38.2m and spending of $37.6m, spending 98% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $19.8m to $38.2m (+93%), an average of +18% a year. The sharpest change came in the year to August 2023, when income rose by 72%. 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, Greater Hartford Community Foundation Inc 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 Masonic Charity Foundation of New Jersey ($38.0m), Dagmar Dolby Fund ($38.3m) and United Way of Connecticut ($37.8m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 30% and program service revenue 70% of the total. Compensation of current officers, directors and key employees was $1.2m (3.3% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $9.3m against liabilities of $6.9m, net assets of $2.3m. It reported 13 employees.