Overview
What is The Community Foundation Of Eastern Connecticut Inc?
The Community Foundation of Eastern Connecticut Inc, located at 68 Federal Street, New London, Connecticut, is a philanthropic organization dedicated to promoting community impact through grantmaking and scholarships. Their primary role involves providing financial support to various 501C(3) organizations within their forty-two town service area. The foundation focuses on empowering youth, addressing basic needs and rights, preserving the environment, and advancing animal welfare. They award grants on a competitive basis, either through a volunteer committee or by approving donor-advised recommendations. With a team of 12 employees, the Community Foundation of Eastern Connecticut Inc plays a significant role in strengthening and enriching the community it serves.
Official website here: www.cfect.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 100% (Four-Star out of Four Stars)
The Community Foundation of Eastern Connecticut Inc has achieved a perfect score of 100%, reflecting strong accountability and financial management. The organization is noted for its entirely independent board, with 12 members, demonstrating a commitment to governance that is free from conflicts of interest. The financial oversight is robust, backed by an audit and oversight committee, ensuring transparency and trustworthiness in handling funds.
Strengths of the organization include a high program expense ratio of 89%, indicating that the majority of its funds are directed towards fulfilling its mission rather than administrative costs. Additionally, the foundation's fundraising efficiency is commendable, with a remarkably low cost of $0.04 to raise each dollar. This efficiency supports the organization's capability to maximize its impact in the community.
There are no significant limitations highlighted in the ratings data, suggesting that The Community Foundation of Eastern Connecticut Inc operates without material diversion of assets and maintains sound financial practices. This strong performance positions the foundation as a trustworthy steward of donations and an effective player in supporting local community initiatives.
This AI summary has been generated from information found on Charity Navigator.
Is The Community Foundation Of Eastern Connecticut Inc legitimate?
The Community Foundation Of Eastern Connecticut Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Community Foundation Of Eastern Connecticut Inc 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: $277,494
Professional Fundraising Fees: $0
Other Salaries and Wages: $674,270
For more financial information, click here
Official website here: www.cfect.org
What is the mission statement of The Community Foundation Of Eastern Connecticut Inc?
The Community Foundation of Eastern Connecticut Inc is a philanthropic organization that encourages giving for community impact through grantmaking and scholarships. Its mission is to promote philanthropy by providing support to various 501C(3) organizations within its service area, which spans across forty-two towns. The focus areas for these grants include empowering youth, addressing basic needs and rights, preserving the environment, and advancing animal welfare. The grant-making process is competitive, with decisions made by a volunteer committee or through board-approved donor-advised recommendations.
Official website here: www.cfect.org
Who is the CEO of The Community Foundation Of Eastern Connecticut Inc?
Maryam Elahi is the Chair of The Community Foundation Of Eastern Connecticut Inc. The CEO's salary of The Community Foundation Of Eastern Connecticut Inc is $232,413 and their total compensation is $278,544.
Official website here: www.cfect.org
What is the revenue of The Community Foundation Of Eastern Connecticut Inc?
The Community Foundation Of Eastern Connecticut Inc's revenue in 2022 was $10,396,872.
Official website here: www.cfect.org
Who are the executives of The Community Foundation Of Eastern Connecticut Inc and what are their salaries?
The average compensation at The Community Foundation Of Eastern Connecticut Inc during 2022 was $79,314. There are 12 employees and 112 volunteers at The Community Foundation Of Eastern Connecticut Inc.
Here are 15 key members and their salaries (The Community Foundation Of Eastern Connecticut Inc's CEO's salary is $232,413 and their total compensation is $278,544):
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- Compensation: $232,413
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- Other: $46,131
- Compensation: $123,177
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- Other: $12,614
- Compensation: $100,271
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- Other: $22,917
Official website here: www.cfect.org
Where can I find the form 990 for The Community Foundation Of Eastern Connecticut Inc?
The Community Foundation Of Eastern Connecticut Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.cfect.org
Learn more at the official website: www.cfect.org
Mission Statement of The Community Foundation Of Eastern Connecticut Inc
The Community Foundation of Eastern Connecticut, as a philanthropic organization, is dedicated to fostering community impact through grantmaking and scholarships. Its mission is centered around promoting giving, with a focus on providing support to various 501C(3) organizations within its forty-two town service area. This foundation has a particular interest in empowering youth, addressing basic needs and rights, preserving the environment, and advancing animal welfare.
In line with its mission, the Community Foundation of Eastern Connecticut awards grants on a competitive basis. This process involves the active participation of a volunteer committee, ensuring that the funds are allocated to deserving organizations that align with its objectives. Furthermore, grants can also be awarded through board-approved donor-advised recommendations, demonstrating the organization's commitment to its donors' wishes while still prioritizing community impact.
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Impact
July, 2024
The Community Foundation Of Eastern Connecticut Inc has a significant impact on the community by promoting giving for community impact through grantmaking and scholarships. They provide support to various 501c(3) organizations in their forty-two town service area, focusing on empowering youth, addressing basic needs and rights, preserving the environment, and advancing animal welfare. Grants are awarded on a competitive basis through a volunteer committee or by board-approved donor-advised recommendations, ensuring that funds are allocated to projects and initiatives that make a positive difference in the community.
This information is meant to be a general summary of The Community Foundation Of Eastern Connecticut Inc. 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: $1,464,758
- Gross Receipts: $10,396,872
Assets and Liabilities:
- Total Assets: $106,532,387
- Total Liabilities: $2,029,285
- Net Assets: $104,503,102
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Organization Details
Founding Year
1982
Phone
(860) 442-3572Principal Officer
Maryam Elahi
Main Address
68 FEDERAL STREET, NEW LONDON, CT, 063206600
Website
www.cfect.orgNTEE Category
Code: T310 - Philanthropy
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