Community Foundation Of Southeastern Connecticut Inc in New London, Connecticut (CT)

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Community Foundation Of Southeastern Connecticut Inc
Employer Identification Number (EIN)061080097
Name of OrganizationCommunity Foundation Of Southeastern Connecticut Inc
AddressPO BOX 769, New London, CT 06320-0769
ActivitiesCommunity Chest, United Way, etc., Described in section 170(b)1)(a)(vi) of the Code, Gifts, grants, or loans to other organizations
SubsectionCharitable Organization
Ruling Date05/1983
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2008
Assets$10,000,000 to $49,999,999
Income$5,000,000 to $9,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$27,371,936
Amount of Income$7,375,289
Form 990 Revenue Amount$7,375,289
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Community Foundations



Amount of income in 2008: $7,375,289
Community Foundation Of Southeastern Connecticut Inc:  $7,375,289
Other organizations performing similar types of work:  $10,627,609

Assets in 2008: $27,371,936
This organization:  $27,371,936
Other organizations performing similar types of work:  $38,045,122

Expenses in 2006: $2,226,470
This organization:  $2,226,470
Other organizations performing similar types of work:  $3,944,606

Income to expenses ratio in 2006: 1.8
This organization:  1.8
Other organizations performing similar types of work:  1.7

Expenses allocated to program services in 2006: 74.3%
Community Foundation Of Southeastern Connecticut Inc:  74.3%
Other organizations performing similar types of work:  87.0%

Number of employees in 2006: 6
This organization:  6
Other organizations performing similar types of work:  9

Employees paid over $50,000 in 2006: 66.7%
This organization:  66.7%
Other organizations performing similar types of work:  33.3%

Grants share in income in 2006: 68.9%
Community Foundation Of Southeastern Connecticut Inc:  68.9%
Other organizations performing similar types of work:  65.5%

Financial snapshot ($)

Revenue for 2006

Assets at end of 2006

Expenses for 2006

Functional Expenses for 2006 ($)

Income-Producing Activities for 2006

Revenue, Expenses, and Changes in Net Assets or Fund Balances
200020022003200420052006
Total revenue$2,158,128$1,773,413$2,847,381$1,889,591$2,266,960$4,039,616
Contributions, gifts, grants, and similar amounts received$1,535,633$1,279,883$1,588,214$1,346,281$1,805,037$2,781,756
Contributions to donor advised funds$139,022
Direct public support$1,535,633$1,279,883$1,588,214$1,346,281$1,805,037$2,642,734
Indirect public support$0$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0$0
Program service revenue including government fees and contracts$0$0$0$0$0$0
Membership dues and assessments$0$0$0$0$0$0
Interest on savings and temporary cash investments$38,586$9,062$2,377$3,201$2,990$6,313
Dividends and interest from securities$591,051$461,463$842,795$500,663$416,351$510,872
Net rental income or (loss)$0$6,000$7,240$18,480$21,500$24,900
Gross rents$0$6,000$7,240$18,480$21,500$24,900
Less: rental expenses$0$0$0$0$0$0
Other investment income$-21,396$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$0$0$381,937$-452$737$694,005
Gross amount from sales of assets other than inventory$0$0$15,351,567$181,997$244,702$2,649,005
Less: cost or other basis and sales expenses$0$0$14,969,630$182,449$243,965$1,955,000
Net income or (loss) from special events and activities$14,254$17,005$24,818$21,418$20,345$13,317
Gross revenue$65,463$43,651$45,558$47,461$34,915$38,131
Less: direct expenses other than fundraising expenses$51,209$26,646$20,740$26,042$14,570$24,814
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0
Other revenue$0$0$0$0$0$8,453
Total expenses$1,391,650$1,635,920$1,623,144$1,612,108$1,710,094$2,226,470
Program services$1,052,469$1,119,049$1,063,348$1,165,874$1,242,240$1,654,673
Management and general$248,962$396,627$455,995$320,566$338,425$397,955
Fundraising$90,219$120,244$103,801$125,668$129,429$173,842
Payments to affiliates$0$0$0$0$0$0
Net assets or fund balances at end of year$23,589,843$18,991,423$22,645,556$24,301,326$26,083,333$30,312,580
Excess or (deficit) for the year$766,478$137,493$1,224,237$277,483$556,866$1,813,146
Net assets or fund balances at beginning of year$22,823,365$21,894,894$18,991,423$22,645,556$24,301,326$26,083,333
Other changes in net assets or fund balances$0$-3,040,964$2,429,896$1,378,287$1,225,141$2,416,101
Statement of Functional Expenses (for 2006)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$2,226,470$1,654,673$397,955$173,842
Grants paid from donor advised funds$243,589
Other grants and allocations$1,242,638
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$122,309$51,482$37,786$33,041
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$232,408$73,526$90,797$68,085
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$30,043$9,415$12,230$8,398
Payroll taxes$26,414$9,245$9,509$7,660
Professional fundraising fees$0$0$0$0
Accounting fees$20,000$0$20,000$0
Legal fees$43,366$1,500$5,866$36,000
Supplies$5,447$1,875$2,028$1,544
Telephone$2,272$0$2,272$0
Postage and shipping$3,609$1,227$1,371$1,011
Occupancy$8,943$0$8,943$0
Equipment rental and maintenance$2,550$0$2,550$0
Printing and publications$682$232$450$0
Travel$0$0$0$0
Conferences, conventions, and meetings$3,875$0$3,875$0
Interest$0$0$0$0
Depreciation, depletion, etc.$18,832$0$18,832$0
Other expenses not covered above$219,493$19,944$181,446$18,103
Balance Sheets
200020022003200420052006
Total assets$23,692,177$19,063,331$22,777,129$24,437,498$26,212,193$30,485,970
Cash - non-interest-bearing$0$388,004$25,661$44,648$86,330$84,954
Savings and temporary cash investments$667,434$265,535$0$1,856,201$553,189$670,433
Accounts receivable less allowance for doubtful accounts$0$0$0$0$0$0
Pledges receivable less allowance for doubtful accounts$342,550$78,252$427,464$64,354$649,710$884,409
Grants receivable$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0$0
Inventories for sale or use$0$0$0$0$0$0
Prepaid expenses and deferred charges$3,000$0$0$0$3,000$3,000
Investments - publicly-traded securities$22,585,490
Investments - other securities$16,651,366$13,983,522$17,254,684$17,351,605$19,632,985$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0
Investments - other$6,005,682$4,022,845$4,755,697$4,820,305$4,961,854$5,892,722
Land, buildings, and equipment less accumulated depreciation$22,145$325,173$313,623$300,385$325,125$364,962
Other assets, including program-related investments$0$0$0$0$0$0
Total liabilities$102,334$71,908$131,573$136,172$128,860$173,390
Accounts payable and accrued expenses$7,085$4,426$33,269$31,016$36,252$42,455
Grants payable$86,403$58,281$56,075$61,106$44,512$95,577
Deferred revenue$0$0$42,229$44,050$9,000$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0
Mortgages and other notes payable$0$0$0$0$0$0
Other liabilities$8,846$9,201$0$0$39,096$35,358
Total liabilities and net assets/fund balances$23,692,177$19,063,331$22,777,129$24,437,498$26,212,193$30,485,970
Total net assets or fund balances$23,589,843$18,991,423$22,645,556$24,301,326$26,083,333$30,312,580
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
200020022003200420052006
Total revenue$2,158,128$1,773,413$2,847,381$1,889,591$2,266,960$4,039,616
Total revenue, gains, and other support per audited financial statements$2,209,337$-1,240,905$5,294,478$3,293,922$3,492,101$6,455,717
Other expenses$0$0$2,426,357$1,378,289$1,225,141$2,416,101
Net unrealized gains on investments$0$0$1,703,469$1,273,016$1,080,657$1,681,497
Donated services and use of facilities$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0
Other$0$0$722,888$105,273$144,484$734,604
Other revenue$-51,209$3,014,318$-20,740$-26,042$0$0
Investment expenses$0$0$0$0$0$0
Other$-51,209$3,014,318$-20,740$-26,042$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
200020022003200420052006
Total expenses$1,391,650$1,635,920$1,623,144$1,612,108$1,710,094$2,226,470
Total expenses and losses per audited financial statements$1,442,859$1,662,566$1,643,884$1,638,150$1,710,094$2,226,470
Other revenue$0$0$20,740$26,042$0$0
Donated services and use of facilities$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0
Losses$0$0$0$0$0$0
Other$0$0$20,740$26,042$0$0
Other expenses$-51,209$-26,646$0$0$0$0
Investment expenses$0$0$0$0$0$0
Other$-51,209$-26,646$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
40$106,583$15,726$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings19
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20066
Analysis of Income-Producing Activities (for 2006)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$1,257,860$0
Program service revenue
Program service revenue 1000000$000$0$0
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$6,313$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$510,872$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$0Rent from personal property leased with real property and incidental (10% or less) in relation to the combined income from the real and personal property (section 512(b)(3))$24,900$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$694,005$0
Net income or (loss) from special events000000$0Income from an activity that is not regularly carried on (section 512(a)(1))$13,317$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$0Income from an activity that is not regularly carried on (section 512(a)(1))$8,453$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2006)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2006)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$62,673$5,181$0
$62,347$10,847$0
$51,174$7,886$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2006)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?Yes
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
Enter the total number of donor advised funds owned at the end of the tax year$17
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year$2,905,418
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that receives a substantial part of its support from a governmental unit or from the general public
Support Schedule
199920012002200320042005
Total$1,812,081$1,929,627$1,800,059$2,486,184$1,889,591$2,266,960
Gifts, grants, and contributions received$1,125,746$1,310,686$1,323,534$1,633,772$1,346,281$1,805,037
Membership fees received$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$686,335$618,941$476,525$852,412$543,310$461,923
Net income from unrelated business activities not included above$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0
Other income$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2006)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Oregon Community Foundation1221 S W Yamhill Suite 100, Portland, OR 97205OR1973-11$1,546,887,172
2Minneapolis Foundation800 Ids Center 80 South, Minneapolis, MN 55402MN1926-09$940,915,014
3Boston Foundation Inc75 Arlington Street, Boston, MA 02116-3936MA1997-12$683,988,250
4California Community Foundation445 S Figueroa St Ste 3400, Los Angeles, CA 90071-1638CA1980-07$545,903,679
5Cleveland Foundation, Hines Memorial Fund1422 Euclid Ave Ste 1300, Cleveland, OH 44115-2063OH1945-02$482,112,938
6Hartford Foundation For Public Giving10 Columbus Blvd 8th Fl, Hartford, CT 06106-1976CT1942-03$356,015,910
7Columbus Foundation1234 E Broad St, Columbus, OH 43205-1405OH1937-10$326,926,415
8Communities Foundation Of Texas Inc5500 Caruth Haven Lane, Dallas, TX 75225TX1961-03$201,243,963
9The Fairfield County Community Foundation Inc383 Main Ave, Norwalk, CT 06851-1543CT1991-04$150,895,463
10Community Foundation Of New JerseyPo Box 338 Knox Hill Road, Morristown, NJ 07963-0338NJ1985-12$148,721,085
11Community Foundation For Greater New Haven70 Audubon St, New Haven, CT 06510-1248CT1941-08$112,896,710
12Community Foundation Of Northwest Indiana Inc901 Maccarthur Blvd, Munster, IN 46321IN1985-07$94,739,483
13Community Foundation Of St Joseph County IncPO BOX 837, South Bend, IN 46624-0837IN1974-05$74,196,452
14Denver Foundation, David J Miller55 Madison St 8th Floor, Denver, CO 80206-5419CO1943-01$58,991,224
15Dade Community Foundation Inc200 S Biscayne Blvd Ste 505, Miami, FL 33131FL1992-10$48,205,931
16Barberton Community Foundation460 W Paige Ave, Barberton, OH 44203-2564OH1997-06$37,635,415
17Community Foundation Of Greater Chattanooga Inc1270 Market Street, Chattanooga, TN 37402TN1965-04$35,063,758
18Community Foundation For Palm Beach & Martin Counties Inc700 S Dixie Hwy Ste 200, West Palm Bch, FL 33401-5854FL1972-04$29,797,482
19Charlottesville Area Community FoundationPO BOX 1767, Charlottesvle, VA 22902-1767VA1989-07$25,540,942
20Nfa Foundation Inc305 Broadway, Norwich, CT 06360-3547CT1986-06$18,493,648
21East Tennessee Foundation625 Market St Ste 1400, Knoxville, TN 37902-2219TN1963-12$12,352,093
22Greater Bridgeport Area Foundation Inc383 Main Ave, Norwalk, CT 06851-1543CT1968-03$10,442,736
23Community Foundation Of Western MassachusettsPO BOX 15769, Spfld, MA 01115-5769MA1991-04$9,222,804
24Community Foundation Of Southeastern Connecticut IncPO BOX 769, New London, CT 06320-0769CT1983-05$7,375,289
25Connecticut Community Foundation Inc43 Field St, Waterbury, CT 06702-1906CT1933-04$5,748,961
26Create Foundation IncPO BOX 1053, Tupelo, MS 38802-1053MS1972-12$5,346,812
27Aspen Community Foundation110 E Hallam St Ste 126, Aspen, CO 81611-1460CO1982-09$4,988,450
28Community Foundation Of The Lowcountry Inc4 Northridge Dr Ste A, Hilton Head Island, SC 29926SC1984-03$3,342,824
29Community Development Fund Trust Of Tulsa County Medical Society5315 S Lewis Ave, Tulsa, OK 74105-6539OK1992-04$240,758
30Guilford Foundation IncPO BOX 35, Guilford, CT 06437-0035CT1975-11$148,666
Number of organizations performing similar types of work
Alaska1
Alabama4
Arkansas1
Arizona2
California38
Colorado5
Connecticut9
District of Columbia3
Delaware2
Florida15
Georgia7
Hawaii1
Iowa6
Idaho1
Illinois17
Indiana21
Kansas4
Kentucky4
Louisiana3
Massachusetts10
Maryland3
Maine1
Michigan18
Minnesota13
Missouri6
Mississippi3
Montana2
North Carolina9
North Dakota1
Nebraska5
New Hampshire1
New Jersey6
New Mexico1
New York16
Ohio25
Oklahoma4
Oregon2
Pennsylvania17
Rhode Island2
South Carolina9
South Dakota4
Tennessee4
Texas22
Utah3
Virginia10
Vermont1
Washington6
Wisconsin12
West Virginia3
International1
Total364

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