Form 990 for tax year 2022
Filed by NORWALK COMMUNITY COLLEGE FOUNDATION.
Totals
- Total revenue
- $4,227,837
- Total expenses
- $3,795,923
- Contributions and grants received
- $3,128,929
- Grants paid
- $2,692,673
- Program service revenue
- $0
- Investment income
- $1,098,908
- Other revenue
- $0
- Total assets, end of year
- $35,228,337
- Total liabilities, end of year
- $2,141,561
- Net assets or fund balances, end of year
- $33,086,776
- Program services expenses (Part IX)
- $3,018,498
- Management and general expenses
- $463,802
- Fundraising expenses
- $313,623
- Program service expenses (Part III)
- $3,018,498
Program services were 79.5% 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.
-
1f · All other contributions, gifts and grants
$3,128,929
-
1g · Noncash contributions included above
$8,503
-
3 · Investment income
total $877,045 · excluded $877,045
-
7a · Gross sales of assets other than inventory
securities $2,619,904
-
7b · Less cost or other basis and sales expenses
securities $2,398,041
-
7c · Gain or loss
securities $221,863
-
7d · Net gain or loss
total $221,863 · excluded $221,863
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $1,466,163 · program services $1,466,163
-
2 · Grants to domestic individuals
total $1,226,510 · program services $1,226,510
-
5 · Compensation of officers, directors and key employees
total $359,688 · program services $148,480 · management and general $127,571 · fundraising $83,637
-
7 · Other salaries and wages
total $274,194 · program services $98,824 · management and general $65,067 · fundraising $110,303
-
8 · Pension plan contributions
total $46,536 · program services $17,912 · management and general $13,637 · fundraising $14,987
-
9 · Other employee benefits
total $12,459 · program services $4,023 · management and general $2,289 · fundraising $6,147
-
10 · Payroll taxes
total $48,556 · program services $18,868 · management and general $14,616 · fundraising $15,072
-
11b · Fees: legal
total $64,250 · management and general $64,250
-
11c · Fees: accounting
total $35,750 · management and general $35,750
-
11f · Fees: investment management
total $103,240 · management and general $103,240
-
11g · Fees: other
total $63,733 · program services $2,560 · management and general $16,232 · fundraising $44,941
-
12 · Advertising and promotion
total $28,346 · program services $10,508 · management and general $6,321 · fundraising $11,517
-
13 · Office expenses
total $15,519 · program services $5,753 · management and general $3,461 · fundraising $6,305
-
14 · Information technology
total $21,514 · program services $7,975 · management and general $4,798 · fundraising $8,741
-
17 · Travel
total $1,296 · program services $480 · management and general $289 · fundraising $527
-
19 · Conferences, conventions and meetings
total $4,317 · program services $1,600 · management and general $963 · fundraising $1,754
-
22 · Depreciation, depletion and amortization
total $2,211 · program services $820 · management and general $493 · fundraising $898
-
23 · Insurance
total $13,161 · program services $4,879 · management and general $2,935 · fundraising $5,347
-
24a · Other expenses: INCENTIVES & OTHER SUPP
total $4,987 · program services $1,848 · management and general $1,111 · fundraising $2,028
-
24b · Other expenses: MEMBERSHIP, DUES & SUB.
total $3,493 · program services $1,295 · management and general $779 · fundraising $1,419
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $14,056 · end of year $157,712
-
2 · Savings and temporary cash investments
beginning of year $5,856,682 · end of year $5,896,588
-
3 · Pledges and grants receivable
beginning of year $33,000 · end of year $109,000
-
9 · Prepaid expenses and deferred charges
beginning of year $9,346 · end of year $7,301
-
10a · Land, buildings and equipment: cost or other basis
$67,870
-
10b · Land, buildings and equipment: accumulated depreciation
$56,353
-
10c · Land, buildings and equipment, net
beginning of year $13,729 · end of year $11,517
-
11 · Investments: publicly traded securities
beginning of year $26,471,451 · end of year $28,988,422
-
12 · Investments: other securities
beginning of year $107,603 · end of year $57,797
-
17 · Accounts payable and accrued expenses
beginning of year $29,069 · end of year $30,125
-
18 · Grants payable
beginning of year $1,464,103 · end of year $1,972,719
-
25 · Other liabilities
beginning of year $33,378 · end of year $138,717
-
27 · Net assets without donor restrictions
beginning of year $2,413,984 · end of year $3,214,673
-
28 · Net assets with donor restrictions
beginning of year $28,565,333 · end of year $29,872,103
Mission and programs · 2022
Mission
THE MISSION OF THE NORWALK COMMUNITY COLLEGE FOUNDATION IS THREEFOLD: 1) RAISE FUNDS FOR NORWALK COMMUNITY COLLEGE PROGRAMS AND SCHOLARSHIPS. (2) INVEST, ADMINISTER AND DISTRIBUTE FUNDS SO THAT STUDENTS OF ALL AGES CONTINUE TO BENEFIT FROM CHALLENGING OPPORTUNITIES FOR SELF-IMPROVEMENT AND INTELLECTUAL GROWTH. (3) INSPIRE AND ENGAGE OUR COMMUNITY TO SHARE TALENTS AND RESOURCES.
Activities or mission (Part I)
FUNDRAISING FOR SCHOLARSHIPS, PROGRAMS AND CAPITAL SUPPORT FOR NORWALK COMMUNITY COLLEGE.
-
THE FOUNDATION SUPPORTS NORWALK COMMUNITY COLLEGE TO FURTHER THE DEVELOPMENT OF THE STUDENT BODY BY PROVIDING FUNDING FOR A VARIETY OF PROGRAMS AND INITIATIVES. THE AMOUNT REPORTED ABOVE IS FOR THE FISCAL YEAR ENDING JUNE 30, 2023.
Expenses $1,590,779 · Grants $1,466,163
-
THE DISTRIBUTION OF SCHOLARSHIPS IS ONE OF THE PRIMARY OBJECTIVES OF THE FOUNDATION. IN THE 2022/2023 ACADEMIC YEAR, 815 STUDENTS WERE AWARDED SCHOLARSHIPS. THE AMOUNT REPORTED ABOVE IS FOR THE FISCAL YEAR ENDING JUNE 30, 2023. SCHOLARSHIPS BESTOW ON STUDENTS A VALUABLE SENSE OF RECOGNITION AND ACCOMPLISHMENT AS WELL AS IMPORTANT FINANCIAL SUPPORT. OUR SCHOLARSHIP DONORS INCLUDE PRIVATE INDIVIDUALS, CORPORATIONS AND FOUNDATIONS, ALL OF WHOM ARE COMMITTED TO MAKING AN EDUCATION AFFORDABLE FOR NCC STUDENTS. THE FOUNDATION'S SCHOLARSHIP PROCESS IS COMPETITIVE AND ACADEMIC ACHIEVEMENT IS A PRIMARY CONSIDERATION. HOWEVER, FINANCIAL NEED, SPECIAL CIRCUMSTANCES AND PERSONAL QUALITIES ARE ALSO CONSIDERED IN AWARDING SCHOLARSHIPS. SCHOLARSHIP APPLICATIONS ARE REVIEWED BY THE SCHOLARSHIP COMMITTEE, WHICH IS COMPRISED OF BOARD DIRECTORS, COMMUNITY MEMBERS, PRESIDENT & CEO AND THE SCHOLARSHIP MANAGER.
Expenses $1,427,719 · Grants $1,226,510
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Deborah C McLeanDEBORAH C MCLEAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 4
-
Ester Ramirez-CepedaESTER RAMIREZ-CEPEDA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Gm O'ConnellGM O'CONNELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
George A ReillyGEORGE A REILLY
DIRECTOR/CHAIR
- Total calculated
- $0
- Hours/week
- 10
-
Jerry NielsenJERRY NIELSEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jon GoldJON GOLD
DIRECTOR/TREASURER
- Total calculated
- $0
- Hours/week
- 4
-
Joseph R ZimmelJOSEPH R ZIMMEL
DIRECTOR/VICE CHAIR
- Total calculated
- $0
- Hours/week
- 4
-
Kenneth BernheimKENNETH BERNHEIM
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Laura EricksonLAURA ERICKSON
DIRECTOR/SECRETARY
- Total calculated
- $0
- Hours/week
- 4
-
Laura SternerLAURA STERNER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Livia BarndollarLIVIA BARNDOLLAR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 4
-
Noradeen FarlekasNORADEEN FARLEKAS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 4
-
Phil SnowPHIL SNOW
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Read HubbardREAD HUBBARD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Robert GranataROBERT GRANATA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Susan G WeinbergerSUSAN G WEINBERGER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 4
-
Tara LovanioTARA LOVANIO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1.5
-
Tom ReynoldsTOM REYNOLDS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Vasso GyftopoulosVASSO GYFTOPOULOS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Vinjay GandhiVINJAY GANDHI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Warren PenaWARREN PENA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Carrie L BernierCARRIE L BERNIER
PRESIDENT & CEO (OUTGOING)
- Total calculated
- $217,665
- From this org
- $199,838
- From related orgs
- $0
- Other
- $17,827
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $199,838
- Bonus
- $0
- Other
- $0
- Deferred
- $17,827
- Nontaxable benefits
- $0
- Filer's total
- $217,665
-
Kris YeagerKRIS YEAGER
CFO
- Total calculated
- $132,264
- From this org
- $118,622
- From related orgs
- $0
- Other
- $13,642
- Hours/week
- 40
-
Vincent A MurphyVINCENT A MURPHY
INTERIM CEO
- Total calculated
- $0
- Hours/week
- 50
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 · Compensation committee
- 3 · Form 990 of other organizations
- 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
-
NORWALK COMMUNITY COLLEGE A DEPARTMENT OF THE STATE OF CT
$1,466,163
COLLEGE SUPPORT INCLUDING FUNDING FACULTY POSITIONS IN CENTER FOR SCIENCE, COLLEGE ADVANCEMENT AND COVID 19 EMERGENCY GRANTS TO SUPPORT NON-RECURRING STUDENT CRITICAL NEEDS SUCH AS TECHNOLOGY FOR VIRTUAL LEARNING, FOOD, HOUSING, CHILDCARE, ETC.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 14 March 2024
- IRS schema version
- 2022v5.0
- Source object
- 202440789349300844
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