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Nonprofiteer
← COMMUNITY FOUNDATION FOR GREATER NEW HAVEN

Form 990 for tax year 2023

Filed by COMMUNITY FOUNDATION FOR GREATER NEW HAVEN.

Totals

Total revenue
$55,299,428
Total expenses
$44,909,487
Contributions and grants received
$24,708,911
Grants paid
$21,625,333
Program service revenue
$0
Investment income
$30,590,517
Other revenue
$0
Total assets, end of year
$712,043,213
Total liabilities, end of year
$273,606,311
Net assets or fund balances, end of year
$438,436,902
Program services expenses (Part IX)
$33,577,210
Management and general expenses
$8,094,484
Fundraising expenses
$3,237,793
Program service expenses (Part III)
$33,577,210

Program services were 74.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $3,648,302

  • 1f · All other contributions, gifts and grants

    $21,060,609

  • 1g · Noncash contributions included above

    $2,815,320

  • 3 · Investment income

    total $5,242,203 · unrelated business $101,783 · excluded $5,140,420

  • 7a · Gross sales of assets other than inventory

    securities $207,783,773

  • 7b · Less cost or other basis and sales expenses

    securities $182,435,459

  • 7c · Gain or loss

    securities $25,348,314

  • 7d · Net gain or loss

    total $25,348,314 · unrelated business $42,002 · excluded $25,306,312

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $21,406,398 · program services $21,406,398

  • 2 · Grants to domestic individuals

    total $60,000 · program services $60,000

  • 3 · Grants to foreign organizations and individuals

    total $158,935 · program services $158,935

  • 5 · Compensation of officers, directors and key employees

    total $998,226 · program services $369,344 · management and general $449,201 · fundraising $179,681

  • 7 · Other salaries and wages

    total $5,883,711 · program services $3,777,734 · management and general $1,504,269 · fundraising $601,708

  • 8 · Pension plan contributions

    total $396,555 · program services $146,725 · management and general $178,450 · fundraising $71,380

  • 9 · Other employee benefits

    total $487,596 · program services $180,411 · management and general $219,418 · fundraising $87,767

  • 10 · Payroll taxes

    total $320,080 · program services $118,430 · management and general $144,036 · fundraising $57,614

  • 11b · Fees: legal

    total $62,090 · program services $22,973 · management and general $27,941 · fundraising $11,176

  • 11c · Fees: accounting

    total $64,576 · program services $23,893 · management and general $29,059 · fundraising $11,624

  • 11f · Fees: investment management

    total $7,542,768 · program services $2,790,824 · management and general $3,394,246 · fundraising $1,357,698

  • 11g · Fees: other

    total $1,318,128 · program services $1,212,143 · management and general $75,703 · fundraising $30,282

  • 12 · Advertising and promotion

    total $285,103 · program services $198,407 · management and general $61,926 · fundraising $24,770

  • 13 · Office expenses

    total $381,555 · program services $277,793 · management and general $74,115 · fundraising $29,647

  • 14 · Information technology

    total $414,660 · program services $214,275 · management and general $143,132 · fundraising $57,253

  • 16 · Occupancy

    total $332,041 · program services $181,121 · management and general $107,837 · fundraising $43,083

  • 17 · Travel

    total $23,391 · program services $19,272 · management and general $2,905 · fundraising $1,214

  • 19 · Conferences, conventions and meetings

    total $823,307 · program services $659,992 · management and general $116,654 · fundraising $46,661

  • 20 · Interest

    total $3,088,833 · program services $1,142,868 · management and general $1,389,975 · fundraising $555,990

  • 22 · Depreciation, depletion and amortization

    total $61,821 · program services $32,053 · management and general $21,263 · fundraising $8,505

  • 23 · Insurance

    total $136,080 · program services $73,765 · management and general $44,511 · fundraising $17,804

  • 24e · All other expenses

    total $663,633 · program services $509,854 · management and general $109,843 · fundraising $43,936

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,224,011 · end of year $2,707,592

  • 2 · Savings and temporary cash investments

    beginning of year $6,293,414 · end of year $33,705,500

  • 3 · Pledges and grants receivable

    beginning of year $1,757,826 · end of year $888,819

  • 7 · Other notes and loans receivable

    beginning of year $10,189,747 · end of year $9,342,247

  • 10a · Land, buildings and equipment: cost or other basis

    $701,070

  • 10b · Land, buildings and equipment: accumulated depreciation

    $687,786

  • 10c · Land, buildings and equipment, net

    beginning of year $60,534 · end of year $13,284

  • 11 · Investments: publicly traded securities

    beginning of year $167,052,985 · end of year $189,321,769

  • 12 · Investments: other securities

    beginning of year $451,041,882 · end of year $436,048,773

  • 13 · Investments: program-related

    beginning of year $39,923,440 · end of year $39,885,018

  • 15 · Other assets

    beginning of year $49,119 · end of year $130,211

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,172,104 · end of year $988,819

  • 18 · Grants payable

    beginning of year $794,506 · end of year $441,868

  • 23 · Secured mortgages and notes payable

    beginning of year $47,036,051 · end of year $47,022,235

  • 25 · Other liabilities

    beginning of year $263,569 · end of year $225,153,389

  • 27 · Net assets without donor restrictions

    beginning of year $628,903,714 · end of year $437,020,423

  • 28 · Net assets with donor restrictions

    beginning of year $1,423,014 · end of year $1,416,479

Mission and programs · 2023

Mission

THE MISSION OF THE COMMUNITY FOUNDATION IS TO CREATE POSITIVE AND SUSTAINABLE CHANGE IN GREATER NEW HAVEN BY INCREASING THE AMOUNT AND ENHANCING THE IMPACT OF COMMUNITY PHILATHROPY.

Activities or mission (Part I)

THE MISSION OF THE COMMUNITY FOUNDATION IS TO CREATE POSITIVE AND SUSTAINABLE CHANGE IN GREATER NEW HAVEN BY INCREASING THE AMOUNT AND ENHANCING THE IMPACT OF COMMUNITY PHILANTHROPY.

  • CIVIC VITALITY: GRANTS THAT SUPPORT PROGRAMS AND SERVICES THAT PROMOTE CIVIC VITALITY.

    Expenses $21,856,639 · Grants $14,076,722

  • ARTS AND CULTURE: GRANTS THAT SUPPORT PROGRAMS AND SERVICES THAT PROMOTE ARTS AND CULTURE.

    Expenses $2,956,169 · Grants $1,903,914

  • HEALTH: GRANTS THAT SUPPORT PROGRAMS AND SERVICES THAT ENSURE HEALTH AND WELLNESS.

    Expenses $2,487,480 · Grants $1,602,056

  • EDUCATION: GRANTS THAT SUPPORT PROGRAMS AND SERVICES THAT PROVIDEQUALITY EDUCATION.

    Expenses $2,085,450 · Grants $1,343,130

  • ECONOMIC SUCCESS: GRANTS THAT SUPPORT PROGRAMS AND SERVICES THATPROMOTE REGIONAL ECONOMIC SUCCESS.

    Expenses $1,484,683 · Grants $956,206

  • YOUTH: GRANTS THAT SUPPORT PROGRAMS AND SERVICES THAT PROMOTE HEALTHYYOUTH DEVELOPMENT.

    Expenses $635,738 · Grants $409,445

  • BASIC NEEDS: GRANTS THAT SUPPORT PROGRAMS AND SERVICES THAT PROMOTEBASIC HUMAN NEEDS.

    Expenses $863,994 · Grants $556,452

  • ENVIRONMENT: GRANTS THAT SUPPORT PROGRAMS AND SERVICES THAT PROMOTEPROTECTION OF THE ENVIRONMENT.

    Expenses $1,185,791 · Grants $763,705

  • OTHER

    Expenses $21,266 · Grants $13,703

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • William W Ginsberg

    PRESIDENT & CEO

    Total calculated
    $572,462
    From this org
    $488,775
    From related orgs
    $0
    Other
    $83,687
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $488,775
    Bonus
    $0
    Other
    $0
    Deferred
    $39,102
    Nontaxable benefits
    $44,585
    Filer's total
    $572,462

  • Andrew F Alden

    CHIEF INVESTMENT OFFICER

    Total calculated
    $430,564
    From this org
    $381,237
    From related orgs
    $0
    Other
    $49,327
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $381,237
    Bonus
    $0
    Other
    $0
    Deferred
    $30,499
    Nontaxable benefits
    $18,828
    Filer's total
    $430,564

  • Angela Powers

    SR. VP FOR OPERATIONS

    Total calculated
    $387,644
    From this org
    $344,065
    From related orgs
    $0
    Other
    $43,579
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $344,065
    Bonus
    $0
    Other
    $0
    Deferred
    $27,525
    Nontaxable benefits
    $16,054
    Filer's total
    $387,644

  • Christina Ciociola

    SR. VP FOR GRANT MAKING

    Total calculated
    $280,152
    From this org
    $257,734
    From related orgs
    $0
    Other
    $22,418
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $257,734
    Bonus
    $0
    Other
    $0
    Deferred
    $20,417
    Nontaxable benefits
    $2,001
    Filer's total
    $280,152

  • Dorothy Weston-Murphy

    SR. VP FOR DEVELOPMENT

    Total calculated
    $282,635
    From this org
    $252,430
    From related orgs
    $0
    Other
    $30,205
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $252,430
    Bonus
    $0
    Other
    $0
    Deferred
    $20,194
    Nontaxable benefits
    $10,011
    Filer's total
    $282,635

  • Leon Bailey

    SR. VP FOR ORGANIZATIONAL EFFR

    Total calculated
    $274,612
    From this org
    $245,192
    From related orgs
    $0
    Other
    $29,420
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $245,192
    Bonus
    $0
    Other
    $0
    Deferred
    $20,223
    Nontaxable benefits
    $9,197
    Filer's total
    $274,612

  • Wendy Gamba

    CHIEF FINANCIAL OFFICER

    Total calculated
    $255,409
    From this org
    $221,545
    From related orgs
    $0
    Other
    $33,864
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $221,545
    Bonus
    $0
    Other
    $0
    Deferred
    $18,013
    Nontaxable benefits
    $15,851
    Filer's total
    $255,409

  • Marcella Nunez-Smith

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Fernando J Muniz

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Maysa Akbar

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Greg Pepe

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Joe Gordon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Terry Jones

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Valarie Shultz Wilson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Enola Aird

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Vlad Coric

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Keith Churchwell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Heather Tookes Alexopoulos

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Keybank National Association

    TRUSTEE COMMITTEE

    Total calculated
    $0
    Hours/week
    1

  • Wells Fargo Bank Na

    TRUSTEE COMMITTEE

    Total calculated
    $0
    Hours/week
    1

  • Bank Of America Merrill Lynch

    TRUSTEE COMMITTEE

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • THE VALLEY COMMUNITY FOUNDATION INC - 84-1637102

    501 (C) · CONNECTS PRIVATE PHILANTHROPY TO THE LONG-TERM PUBLIC GOOD · CT · controlled entity

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • THE COMMUNITY FOUNDATION MISSION INVESTMENTS COMPANY LLC

    TO CARRY-OUT THE MISSION INVESTMENT ACTIVITIES OF THE COMMUNITY FOUNDATION · CT · assets $123,224,933

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CHARITABLE REMAINDER TRUSTS (3)

    T · SPLIT INTEREST AGREEMENTS · CT

  • POOLED INCOME FUNDS (7)

    T · SPLIT INTEREST AGREEMENTS · CT

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202403209349318265

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