Overview
What is New Britain Institute?
The New Britain Institute, based in New Britain, Connecticut, is a nonprofit organization located at 20 High Street, 06051. Its primary mission is to foster literary and scientific advancements within the city, achieving this goal through several programs. These include the New Britain Public Library, which provides research and educational materials and services to the community, as well as the New Britain Youth Museum and the New Britain Industrial Museum. With a workforce of 80 dedicated individuals, the New Britain Institute plays a significant role in promoting knowledge and learning within its local community.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 86% (Three-Star out of Four Star rating)
The New Britain Institute has received an overall score of 86%, reflecting strong performance in accountability and finance. This score is derived entirely from a single beacon score, indicating a focused assessment on their financial practices and transparency. The organization demonstrates exemplary governance with a fully independent board and a robust conflict of interest policy.
Strengths highlighted in the evaluation include a low liabilities-to-assets ratio of 4.40% and a high program expense ratio of 83.46%, suggesting that the majority of their funds are directed towards their programs rather than administrative costs. Additionally, the presence of an Audit and Oversight Committee further enhances their financial oversight capabilities. All board meeting minutes are documented, indicating a commitment to transparency.
While the organization has shown significant strengths in accountability and financial management, the single beacon score may limit the overall assessment of its impact and program effectiveness. Nonetheless, the positive indicators suggest that the New Britain Institute is managing its resources responsibly.
This AI summary has been generated from information found on Charity Navigator.
Is New Britain Institute legitimate?
New Britain Institute is a legitimate nonprofit organization registered as a 501(c)(3) entity. New Britain Institute submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $213,334
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,810,660
For more financial information, click here
What is the mission statement of New Britain Institute?
The New Britain Institute's mission is centered around promoting literary and scientific objectives. To achieve this, the institution implements various programs. One of these programs is the New Britain Public Library, which provides the community with research materials and educational services. Additionally, the New Britain Youth Museum and the New Britain Industrial Museum are other initiatives under the New Britain Institute, all working towards the common goal of promoting literary and scientific interests.
Who is the CEO of New Britain Institute?
Geoffrey Bray is the President of New Britain Institute.
What is the revenue of New Britain Institute?
New Britain Institute's revenue in 2022 was $4,616,015.
Who are the executives of New Britain Institute and what are their salaries?
The average compensation at New Britain Institute during 2022 was $25,300. There are 80 employees at New Britain Institute.
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Where can I find the form 990 for New Britain Institute?
New Britain Institute's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of New Britain Institute
The New Britain Institute is dedicated to promoting literary and scientific objectives within its community. To achieve this mission, the institution has established several programs. One of these programs is the New Britain Public Library, which serves to provide research and educational materials and services to the community. The library aims to foster learning and encourage a love for knowledge among its patrons.
Furthermore, the New Britain Institute also manages the New Britain Youth Museum and the New Britain Industrial Museum. These museums offer unique educational experiences, allowing visitors to explore various aspects of literature, science, and the city's industrial history. The Youth Museum, in particular, is designed to engage and educate young people, inspiring them to develop a curiosity about the world and their place in it.
In essence, the New Britain Institute's mission is to enrich its community by promoting literacy and scientific understanding through its various programs. The institute seeks to create an environment where individuals can learn, grow, and be inspired, ultimately fostering a more intellectually vibrant society.
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Impact
July, 2024
New Britain Institute's impact is evident through its various programs aimed at promoting literary and scientific objects in the city of New Britain, CT. The organization's flagship initiatives, including the New Britain Public Library, New Britain Youth Museum, and New Britain Industrial Museum, play a crucial role in providing research and educational materials and services to the community. By offering access to knowledge and fostering learning opportunities, New Britain Institute contributes significantly to advancing education within the city.
This information is meant to be a general summary of New Britain Institute. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $416,349
- Program Service Revenue: $122,093
- Gross Receipts: $5,089,963
Assets and Liabilities:
- Total Assets: $7,009,202
- Total Liabilities: $248,400
- Net Assets: $6,760,802
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
YOUTH MUSEUM
Revenue
$108,897
PUBLIC LIBRARY
Revenue
$13,196
Organization Details
Founding Year
1858
Phone
(860) 225-6464Principal Officer
Geoffrey Bray
Main Address
20 HIGH STREET, NEW BRITAIN, CT, 06051
NTEE Category
Code: B70 - Education
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