Civic Intelligence

Northwest Connecticut Community Foundation Inc.

990 • Fiscal year 2019 • EIN 06-1565733

Jan 01, 2019 to Dec 31, 2019 • Filed on Jun 12, 2020

PO Box 1144 33 East Main StreetTorrington, CT 06790

(860) 626-1245

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

39th percentile

0.20x

Higher debt load relative to assets than 39% of similar nonprofits.

2019 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2019

Liabilities / Revenue

90th percentile

4.73x

Higher debt load relative to revenue than 90% of similar nonprofits.

2019 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2019

Net Margin

5th percentile

-45%

Higher net margin than 5% of similar nonprofits.

2019 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2019

Top Officer Pay

12th percentile

$200,318

Higher top officer pay than 12% of similar nonprofits.

Top officer pay equals 4.3% of source-year revenue.

2019 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2019

Asset Growth

73rd percentile

12%

Faster asset growth than 73% of similar nonprofits.

2019 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2018 to 2019

Revenue Growth

8th percentile

-31%

Faster revenue growth than 8% of similar nonprofits.

2019 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2018 to 2019

Assets

Up

$108,649,509

Up $11,762,216 (+12%) from 2018

Net Assets

Up

$86,390,783

Up $9,227,634 (+12%) from 2018

Liabilities

Up

$22,258,726

Up $2,534,582 (+13%) from 2018

Revenue

Down

$4,704,039

Down $2,080,733 (-31%) from 2018

Expenses

Up

$6,812,808

Up $2,676,816 (+65%) from 2018

Net Income

Down

-$2,108,769

Down $4,757,549 (-180%) from 2018

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$200M$150M$100M$50M$0Assets 2010: $13,059,530Liabilities 2010: $4,198,100Net Assets 2010: $8,861,4302010Assets 2011: $44,032,403Liabilities 2011: $5,422,790Net Assets 2011: $38,609,6132011Assets 2012: $66,684,331Liabilities 2012: $8,250,560Net Assets 2012: $58,433,7712012Assets 2013: $75,305,672Liabilities 2013: $9,666,549Net Assets 2013: $65,639,1232013Assets 2014: $81,795,330Liabilities 2014: $12,756,608Net Assets 2014: $69,038,7222014Assets 2015: $82,774,811Liabilities 2015: $14,365,836Net Assets 2015: $68,408,9752015Assets 2016: $89,064,799Liabilities 2016: $18,099,378Net Assets 2016: $70,965,4212016Assets 2017: $104,782,717Liabilities 2017: $21,598,674Net Assets 2017: $83,184,0432017Assets 2018: $96,887,293Liabilities 2018: $19,724,144Net Assets 2018: $77,163,1492018Assets 2019: $108,649,509Liabilities 2019: $22,258,726Net Assets 2019: $86,390,7832019Assets 2020: $122,635,352Liabilities 2020: $24,555,855Net Assets 2020: $98,079,4972020Assets 2021: $136,137,199Liabilities 2021: $27,852,409Net Assets 2021: $108,284,7902021Assets 2022: $124,859,463Liabilities 2022: $25,235,105Net Assets 2022: $99,624,3582022Assets 2023: $141,690,594Liabilities 2023: $29,817,817Net Assets 2023: $111,872,7772023Assets 2024: $154,484,336Liabilities 2024: $33,091,108Net Assets 2024: $121,393,2282024

Highlighted filing

2019

Assets$108,649,509
Liabilities$22,258,726
Net Assets$86,390,783

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$20M$15M$10M$5.0M$0-$5.0MExpenses 2010: $913,5932010Expenses 2011: $1,260,8262011Expenses 2012: $2,500,2142012Revenue 2013: $4,521,701Expenses 2013: $3,652,771Net Income 2013: $868,9302013Revenue 2014: $5,991,934Expenses 2014: $3,873,595Net Income 2014: $2,118,3392014Revenue 2015: $5,987,181Expenses 2015: $4,153,554Net Income 2015: $1,833,6272015Revenue 2016: $4,201,188Expenses 2016: $3,328,706Net Income 2016: $872,4822016Revenue 2017: $7,205,245Expenses 2017: $4,208,439Net Income 2017: $2,996,8062017Revenue 2018: $6,784,772Expenses 2018: $4,135,992Net Income 2018: $2,648,7802018Revenue 2019: $4,704,039Expenses 2019: $6,812,808Net Income 2019: -$2,108,7692019Revenue 2020: $8,121,452Expenses 2020: $5,421,265Net Income 2020: $2,700,1872020Revenue 2021: $9,989,668Expenses 2021: $6,347,974Net Income 2021: $3,641,6942021Revenue 2022: $15,274,377Expenses 2022: $6,473,362Net Income 2022: $8,801,0152022Revenue 2023: $11,882,458Expenses 2023: $6,799,763Net Income 2023: $5,082,6952023Revenue 2024: $7,628,637Expenses 2024: $6,996,920Net Income 2024: $631,7172024

Highlighted filing

2019

Revenue$4,704,039
Expenses$6,812,808
Net Income-$2,108,769
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Jun 12, 2020
Return Version
2019v5.0
Gross Receipts
$4,707,239
Mission and Program Overview

Mission

To enrich the quality of life for residents of northwest Connecticut by inspiring local philanthropy, convening stakeholders in community welfare, strengthening the regional nonprofits network and fostering collaborative funding partnerships.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$5,214,054$6,326,011▲ $1,111,957
Savings and Temporary Cash Investments$1,003,514$831,395▼ $172,119
Investments Other Securities$120,000$120,000→ $0
Land, Buildings, and Equipment, Net$90,530$75,446▼ $15,084
Prepaid Expenses and Deferred Charges$16,771$23,456▲ $6,685
Inventories for Sale or Use$8,391$8,391→ $0
Cash and Non-Interest-Bearing Accounts$20$20→ $0
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Total Assets$96,887,293$108,649,509▲ $11,762,216
Other Assets Total$90,434,013$101,264,790▲ $10,830,777
Liabilities
Other Liabilities$18,346,321$19,289,301▲ $942,980
Grants Payable$1,339,176$2,938,261▲ $1,599,085
Mortgage Notes Payable Secured by Investment Property$37,827$25,218▼ $12,609
Accounts Payable and Accrued Expenses$820$5,946▲ $5,126
Total Liabilities$19,724,144$22,258,726▲ $2,534,582
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$76,988,321$86,216,508▲ $9,228,187
Net Assets With Donor Restrictions$174,828$174,275▼ $553
Total Net Assets Fund Balance$77,163,149$86,390,783▲ $9,227,634
Total Liabilities and Net Assets / Fund Balance$96,887,293$108,649,509▲ $11,762,216

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$57,006$81,480$138,486
Equipment$936$54,503$55,439
Leasehold Improvements$17,504$3,614$21,118
Other Assets Org$3,150--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$94,425,741$1,503,253▲ $14,751,249-$104,769,391
2018$102,722,101$1,451,050▼ $6,500,064-$94,425,741
2017$87,660,248$3,014,153▲ $15,559,816-$102,722,101
2016$81,291,486$929,274▲ $8,141,174-$87,660,248
2015$80,325,301$4,571,295▲ $1,430,895$10,000$81,291,486
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$1,441,533
Program Service Revenue
$4,700
Investment Income
$2,921,909
Other Revenue
$335,897
All Other Contributions
$1,435,313
Change in Net Assets
$-2,108,769

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded20$692,400Fair Market Value (FMV)
Total Noncash Contributions20$692,400-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$5,280,892
Salaries, Compensation, and Employee Benefits$806,147
Other Expenses$725,769
Total Fundraising Expense$131,680
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$5,141,267--$5,141,267
Other Salaries and Wages$308,040$131,132$35,089$474,261
Fees for Service Investment Mgmnt Fees$225,006$225,007-$450,013
Current Officers, Directors, Trustees, and Key Employees$81,294$85,610$27,794$194,698
Grants to Domestic Individuals$139,625--$139,625
Other Employee Benefits$42,769$23,810$6,908$73,487
Occupancy$33,445$18,619$5,401$57,465
Payroll Taxes$26,401$14,697$4,265$45,363
Information Technology$21,989$12,242$3,551$37,782
Advertising$19,078$10,621$3,081$32,780
Office Expenses$12,140$6,759$1,960$20,859
All Other Expenses$10,258$8,857$1,609$20,724
Fees for Services Other$11,734$6,532$1,896$20,162
Pension Plan Contributions$10,673$5,942$1,723$18,338
Depreciation Depletion$9,513$5,296$1,536$16,345
Insurance$4,732$2,634$765$8,131
Other Expenses$6,584$5,583$8,837$6,584
Interest-$1,913-$1,913
Travel$834$464$135$1,433
Total Functional Expenses$6,115,410$565,718$131,680$6,812,808
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Sharon Land TrustSharon, CT501(c)(3)General Support$2,359,839
VNA NorthwestBantam, CT501(c)(3)General Support$1,083,603
City of TorringtonTorrington, CT501(c)(3)Stategies to attract new businesses$750,000
Town of WinchesterWinsted, CT501(c)(3)Economic Dev. Program$306,500
University of CT FoundationStorrs, CT501(c)(3)General Support and Scholarships$219,000
Little Guild of St FrancisWest Cornwall, CT501(c)(3)General Support & Programs$196,837
NW Connecticut YMCATorrington, CT501(c)(3)General and Program Support$193,541
Cornwall Conservation TrustWest Cornwall, CT501(c)(3)Land Purch Scholarships Gen Support$165,715
NW CT Community CollegeWinsted, CT501(c)(3)General Support & Student EmergFund$162,675
Inst American Indian StudiesWashington, CT501(c)(3)General Support$147,500
Center Cancer Fund LitchHillsLitchfield, CT501(c)(3)For Patient Assistance$146,300
Town of WinchesterWinsted, CT501(c)(3)Social Worker for 3 Yrs$140,250
Last Post Cat Refuge VILFalls Village, CT501(c)(3)General Support$132,000
Beardsley & Memorial LibraryWinsted, CT501(c)(3)General Support$109,500
NWCT Regional Workforce InvWaterbury, CT501(c)(3)Program Support$100,000
Charlotte Hungerford HospitalTorrington, CT501(c)(3)Support Case Worker, Education$92,400
NW CT Community FoundationTorrington, CT501(c)(3)Various Initiatives& Programs$83,670
New Beginnings of NW HillsTorrington, CT501(c)(3)Operating Expenses & Coordinator$83,345
United Way of NW CTTorrington, CT501(c)(3)Program Support$81,265
Winchester Youth ServiceMain St, CT-General Support, Bus & Computers$66,950
Greenwoods Scholarship FoundWinsted, CT501(c)(3)General Support$66,000
Ed AdvanceLitchfield, CT501(c)(3)Program Support$62,750
Greenwoods Counseling ReferalLitchfield, CT501(c)(3)Website Dev & Occup. costs$62,000
Warner TheatreTorrington, CT501(c)(3)Forklift & General Support$61,000
New Opportunities IncTorrington, CT501(c)(3)BiLingual Caseworker$59,000
NW Hills Council of GovSalisbury, CT501(c)(3)Prescription & Emerg. Fuel Programs$53,900
Torrington Public SchoolsTorrington, CT501(c)(3)Programming & Care/Food Closet$52,000
Winsted Health Ctr FoundationWinsted, CT-Elevator Rep & Monthly Support$47,517
WL Gilbert Trust CorpWinsted, CT501(c)(3)Semi-Annual Distributions$43,500
We Adopt Greyhounds IncGlastonbury, CT-General Support$43,500
Norfolk CT Childrens FoundNorfolk, CT501(c)(3)To Support Grant Requests$38,000
New Hartford Village CemeteryNew Hartford, CT501(c)(3)General Operations$36,000
LARC IncTorrington, CT501(c)(3)Phone Sys, Financial &CampAssist$35,515
Winsted Area Child Care CtrWinsted, CT-General Support & Critical Needs$31,000
Prime Time HouseTorrington, CT501(c)(3)General Support YE Needs$27,750
Housatonic Valley AssocWest Cornwall, CT501(c)(3)Water Protection, Signage & Sup$27,000
Torrington Youth Serv BureauTorrington, CT501(c)(3)Program Support$24,150
Colebrook CongregationalColebrook, CT501(c)(3)General Support$22,500
Kidsplay Childrens MuseumTorrington, CT501(c)(3)PA System & Gen Support$18,833
FISH of Northwestern CTTorrington, CT501(c)(3)Equip. & Gen Support$15,700
Litchfield Community CenterLitchfield, CT501(c)(3)Program support$15,348
Friends of HospiceLitchfield, CT501(c)(3)General & Program Support$15,000
Washington Art AssociationWashington, CT501(c)(3)General Support$13,971
Hertitage Land Pres TrustTorrington, CT501(c)(3)General Support$13,100
United Church of ChristCornwall, CT501(c)(3)Gen. Support & Critical Needs$13,000
Community Kitchen TorringtonTorrington, CT501(c)(3)Replace Flooring & Critical needs$12,500
Winsted Sr CtrWinsted, CT-Program Equipment$12,250
Town of NorfolkNorfolk, CT501(c)(3)Selectmen's Discretionary Fund$11,775
NW Connecticut Arts CouncilTorrington, CT501(c)(3)Strategic Plan & Programs$11,583
Susan B AnthonyTorrington, CT501(c)(3)General Support$10,640
Colebrook Associates IncColebrook, CT501(c)(3)General Support$10,500
Cornell UniversityIthica, NY501(c)(3)General Support$10,500
Cornwall Library AssocCornwall, CT501(c)(3)General Support$10,500
Tufts Univ School of Vet MedNorht Grafton, MA501(c)(3)General Support$10,500
Yankee Golden Retriever RescuHudson, MA-General Support$10,500
Partners Sust Health ComLitchfield, CT501(c)(3)Support of Regional FoodHub$10,250
Five Points GalleryTorrington, CT501(c)(3)Support for Main St Location$10,090
Civic Life ProjectCornwall Bridge, CT501(c)(3)Program Expansion$10,000
Crescendo IncLakeville, CT501(c)(3)General Support$10,000
Health Access SumbawaNobleboro, ME501(c)(3)Combat Malaria$10,000
Turks & Caicos Reef FundBurlington, VT501(c)(3)Reef Nursery Operations$10,000
Church of Christ Cong-NorfolkNorfolk, CT501(c)(3)Distressed Resident Needs$9,875
The American Mural ProjectWinsted, CT501(c)(3)Stairs & Organization Support$9,750
Hands of GracePine Meadow, CT501(c)(3)Freezer & YE Needs$9,000
TriArts at SharonPlayhouseSharon, CT501(c)(3)Scholarships & Unrest Support$9,000
Audubon SharonCornwall, CT501(c)(3)Conservation Prog. for Students$8,650
Jr Achievement of SW NEHartford, CT501(c)(3)Support Multiple Programs$8,500
Music MountainLakeville, CT501(c)(3)Maintenance & Programming$8,233
New Hartford PTONew Hartford, CT501(c)(13)Various Program Support$8,000
United Cong ChurchLittle Compton, RI501(c)(3)Program Support$8,000
Womens Support ServicesSharon, CT-Strategic Plan & YE Support$8,000
Fishes & Loaves Food PantryCanaan, CT501(c)(3)Roof Replacement on Pantry$7,750
Cand AidLongmont, MA501(c)(3)Program Support$7,500
Sharon Fire DeptSharon, CT501(c)(3)Compression System for Amb$7,500
The Licia & Mason Beekley LibNew Hartford, CT501(c)(3)Support Children's Summer Coding$7,500
Food Rescue Comm PlatesNorwalk, CT501(c)(3)Food Rescue & Delivery$7,000
Goshen Land TrustGoshen, CT501(c)(3)Accredition Fees$7,000
Helping Hands Chore ServiceWinsted, CT501(c)(3)Support Funding of Services$7,000
Volunteers in Med BerkshireGreatBarrington, MA501(c)(3)Program Support$7,000
Rotary Found of Torr WinstedTorrington, CT501(c)(3)Program Support$6,626
Goshen Community Care&HospiceGoshen, CT501(c)(3)General Support$6,389
Town of ColebrookColebrook, CT501(c)(3)Comm Ctr Equipment; YE Support$6,300
Colebrook Historical SocietyColebrook, CT501(c)(3)General Support$6,000
Mahaiwe Performing Arts CtrGreatBarrington, MA501(c)(3)Unrestricted Support$6,000
Planned Parenthood SouthernNENew Haven, CT501(c)(3)healthcare services for low income$6,000
St Johns Episcopal ChurchWashington, CT501(c)(3)Program Support$6,000
Torrington Police DeptTorrington, CT501(c)(4)Opiod Prog Support$6,000
Hotchkiss Library of SharonSharon, CT501(c)(3)Programs & Fundraising Study$5,833
Torrington Winsted RotaryTorrington, CT501(c)(3)Various Program Support$5,200
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$5,090
Fundraising Direct Expenses$3,200
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Agency Fund Endowments$19,289,301
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

The Board and Audit Committee are provided a copy of the audited financial statements and the completed Form 990 at a regualarly scheduled board meeting. Board/Committee Members who are unable to attend are provided electronic copies. The Audit Committee reviews the 990 with the full Board and staff, and opportunities for questions and discussion are provided.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Annually the board of directors, staff and key volunteers complete a conflict of interest statement listing all affiliations and those of family members, as well as potential conflict of interest relationships. These statements are kept on file. In all meetings related to grants and contracted services, the board is reminded of this policy and required to recuse themselves from any discussion and voting that could be considered a conflict. It is also monitored through the inspection of public records, non-profit governing documents, and due diligence efforts surrounding community affiliations and associations.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

Executive Compensation Policy includes an annual review conducted by Foundation's Executive Committee involving an examiniation of supporting data from independently produced reports on Community Foundation compensation by the Council on Foundations, CT Council for Philanthropy, and CT Alliance for Non-profits. Comparable Form 990s are reviewed through Guidestar of like (size and geography) nonprofit organizations.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Offered for inspection through website, annual report, periodic communications and by request.

Filing and Contact Details

Filer

Filer Name
Northwest Connecticut Community
EIN
06-1565733
Phone
8606261245
Address
PO BOX 1144 33 EAST MAIN STREET, TORRINGTON, CT 06790

Signing Officer

Name
Guy Rovezzi
Title
President
Signed
2020-06-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Guy Rovezzi
Formed
1999
Legal Domicile
Ct
Voting Board Members
17
Independent Board Members
17
Employees
0
Volunteers
125

Preparer

Firm
King King & Associates Cpas
Address
170 HOLABIRD AVE, WINSTED, CT 06098-1727
Preparer
Robert E King CPA
Phone
8603790215
Supplemental Narrative

Financial Statement Notes

Part V, Line 4: Intended uses of the endowment fund.

To enrich the quality of life for residents of northwest Connecticut by inspiring local philanthropy, convening stakeholders in community welfare, strengthening the regional nonprofits network and fostering collaborative funding partnerships.

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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$154$33.1$121$7.63$7.00$0.63
2023Detailed filing. Detailed filing data is available for this year.$142$29.8$112$11.9$6.80$5.08
2022Detailed filing. Detailed filing data is available for this year.$125$25.2$99.6$15.3$6.47$8.80
2021Detailed filing. Detailed filing data is available for this year.$136$27.9$108$9.99$6.35$3.64
2020Detailed filing. Detailed filing data is available for this year.$123$24.6$98.1$8.12$5.42$2.70
2019Detailed filing. Detailed filing data is available for this year.$109$22.3$86.4$4.70$6.81$2.11
2018Detailed filing. Detailed filing data is available for this year.$96.9$19.7$77.2$6.78$4.14$2.65
2017Detailed filing. Detailed filing data is available for this year.$105$21.6$83.2$7.21$4.21$3.00
2016Summary only. Only limited summary data is available for this year.$89.1$18.1$71.0$4.20$3.33$0.87
2015Detailed filing. Detailed filing data is available for this year.$82.8$14.4$68.4$5.99$4.15$1.83
2014Detailed filing. Detailed filing data is available for this year.$81.8$12.8$69.0$5.99$3.87$2.12
2013Detailed filing. Detailed filing data is available for this year.$75.3$9.67$65.6$4.52$3.65$0.87
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$66.7$8.25$58.4$2.50
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$44.0$5.42$38.6$1.26
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.1$4.20$8.86$0.91
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2019 filings • 501(c)3 • $100M-$250M nonprofits