Civic Intelligence

Northwest Connecticut Community Foundation Inc.

990 • Fiscal year 2021 • EIN 06-1565733

Jan 01, 2021 to Dec 31, 2021 • Filed on Jun 15, 2022

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

43rd percentile

0.20x

Higher debt load relative to assets than 43% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Liabilities / Revenue

86th percentile

2.79x

Higher debt load relative to revenue than 86% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Net Margin

80th percentile

36%

Higher net margin than 80% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Top Officer Pay

17th percentile

$230,401

Higher top officer pay than 17% of similar nonprofits.

Top officer pay equals 2.3% of source-year revenue.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Asset Growth

49th percentile

11%

Faster asset growth than 49% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2020 to 2021

Revenue Growth

68th percentile

23%

Faster revenue growth than 68% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2020 to 2021

Assets

Up

$136,137,199

Up $13,501,847 (+11%) from 2020

Net Assets

Up

$108,284,790

Up $10,205,293 (+10%) from 2020

Liabilities

Up

$27,852,409

Up $3,296,554 (+13%) from 2020

Revenue

Up

$9,989,668

Up $1,868,216 (+23%) from 2020

Expenses

Up

$6,347,974

Up $926,709 (+17%) from 2020

Net Income

Up

$3,641,694

Up $941,507 (+35%) from 2020

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

2021

Assets$136,137,199
Liabilities$27,852,409
Net Assets$108,284,790

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

2021

Revenue$9,989,668
Expenses$6,347,974
Net Income$3,641,694
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Jun 15, 2022
Return Version
2021v4.0
Gross Receipts
$9,989,668
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$6,746,593$6,598,597▼ $147,996
Savings and Temporary Cash Investments$2,222,982$2,905,217▲ $682,235
Pledges and Grants Receivable$784,000$230,758▼ $553,242
Land, Buildings, and Equipment, Net$68,245$121,150▲ $52,905
Investments Other Securities$120,000$120,000→ $0
Other Notes and Loans Receivable, Net-$50,000-
Prepaid Expenses and Deferred Charges$58,664$18,669▼ $39,995
Cash and Non-Interest-Bearing Accounts$20$20→ $0
Accounts Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$122,635,352$136,137,199▲ $13,501,847
Other Assets Total$112,634,848$126,092,788▲ $13,457,940
Liabilities
Other Liabilities$21,924,503$24,697,917▲ $2,773,414
Grants Payable$2,610,037$3,143,420▲ $533,383
Accounts Payable and Accrued Expenses$7,736$9,132▲ $1,396
Mortgage Notes Payable Secured by Investment Property$13,579$1,940▼ $11,639
Total Liabilities$24,555,855$27,852,409▲ $3,296,554
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$97,898,697$107,162,056▲ $9,263,359
Net Assets With Donor Restrictions$180,800$1,122,734▲ $941,934
Total Net Assets Fund Balance$98,079,497$108,284,790▲ $10,205,293
Total Liabilities and Net Assets / Fund Balance$122,635,352$136,137,199▲ $13,501,847

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$49,200$100,788$149,988
Equipment$29,415$57,330$86,745
Leasehold Improvements$42,535$7,633$50,168
Other Assets Org$3,150--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$117,672,254$4,899,389▲ $12,861,991-$129,880,570
2020$104,769,391$4,396,258▲ $14,583,974-$117,672,254
2019$94,425,741$1,503,253▲ $14,751,249-$104,769,391
2018$102,722,101$1,451,050▼ $6,500,064-$94,242,975
2017$87,660,248$3,014,153▲ $15,559,816-$102,722,101
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$4,797,235
Program Service Revenue
$0
Investment Income
$4,924,135
Other Revenue
$268,298
All Other Contributions
$4,797,235
Change in Net Assets
$3,641,694

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$2,307,807Fair Market Value (FMV)
Total Noncash Contributions20$2,307,807-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$4,336,544
Other Expenses$1,014,863
Salaries, Compensation, and Employee Benefits$996,567
Total Fundraising Expense$130,718
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$4,126,019--$4,126,019
Fees for Service Investment Mgmnt Fees$456,248$245,672-$701,920
Other Salaries and Wages$400,398$162,996$44,511$607,905
Current Officers, Directors, Trustees, and Key Employees$115,999$80,113$34,289$230,401
Grants to Domestic Individuals$210,525--$210,525
Other Employee Benefits$50,778$23,906$7,749$82,433
Occupancy$37,258$17,541$5,685$60,484
Payroll Taxes$35,053$16,502$5,349$56,904
Information Technology$32,497$15,300$4,959$52,756
Advertising$23,876$11,240$3,643$38,759
Fees for Services Other$17,738$8,351$2,707$28,796
Pension Plan Contributions$11,658$5,488$1,778$18,924
Office Expenses$9,615$4,527$1,467$15,609
Depreciation Depletion$8,883$4,182$1,355$14,420
All Other Expenses$5,714$2,466$5,105$13,285
Insurance$5,924$2,789$904$9,617
Other Expenses$5,125$2,413$782$8,320
Interest-$1,833-$1,833
Conferences and Meetings-$75-$75
Total Functional Expenses$5,607,284$609,972$130,718$6,347,974
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
University of CT FoundationStorrs, CT501(c)(3)General Support and Scholarships$233,600
Charlotte Hungerford HospitalTorrington, CT501(c)(3)Support Bilingual Comm. Hlth Assoc$221,600
Little Guild of St FrancisWest Cornwall, CT501(c)(3)General Support$210,395
Warner TheatreTorrington, CT501(c)(3)General Support$176,250
NW Connecticut YMCATorrington, CT501(c)(3)General and Program Support$162,549
Last Post Cat Refuge VILFalls Village, CT501(c)(3)General Support$140,800
The Robert C Geer MemorialCanaan, CT501(c)(3)Support Transportation Pilot Prog$140,000
Beardsley & Memorial LibraryWinsted, CT501(c)(3)General Support$131,800
NW CT Community CollegeWinsted, CT501(c)(3)General Support & Student EmergFund$119,900
Cancer Care Fund of the LitchLitchfield, CT501(c)(3)General Support$118,735
Inst American Indian StudiesWashington, CT501(c)(3)General Support$110,000
Quahog Bay ConservancyHarpswell, ME501(c)(3)General Support$100,000
FISH of Northwestern CTTorrington, CT501(c)(3)General & Capital Support$83,900
Ed AdvanceLitchfield, CT501(c)(3)Program Support$81,500
Winchester Youth ServiceWinchester, CT501(c)(3)General, Program, & Capital Support$77,075
Greenwoods Scholarship FoundWinsted, CT501(c)(3)General Support$70,400
New Beginnings of NW HillsTorrington, CT501(c)(3)Captal, General, and Coord Support$68,175
Cornwall Conservation TrustWest Cornwall, CT501(c)(3)Scholarships & General Support$63,296
New Opportunities IncTorrington, CT501(c)(3)Support bilingual caseworker$60,000
Salvation ArmyWest Nyack, NY501(c)(3)General Support of S.A. of NW CT$54,900
Greenwoods Counseling ReferalLitchfield, CT501(c)(3)Prog. Website, Covid, Staff Psychr$53,000
Winsted Area Child Care CtrWinsted, CT501(c)(3)General & Capital Support$50,150
Yale UniversityNew Haven, CT501(c)(3)Swenson Extravaganza$50,000
We Adopt Greyhounds IncGlastonbury, CT501(c)(3)General Support$46,400
Wl Gilbert Trust CorpWinsted, CT501(c)(3)General Support$46,400
New England Airedale RescueCornwall Bridge, CT501(c)(3)General Support$44,000
Winsted Health Ctr FoundationWinsted, CT501(c)(3)General Support$40,947
Norfolk CT Childrens FoundNorfolk, CT501(c)(3)Grant Requests & Scholarships$40,000
Partners Sust Health ComLitchfield, CT501(c)(3)Support Food Pantry$35,000
Housatonic Valley AssocWest Cornwall, CT501(c)(3)General Support$33,250
New Hartford Village CemeteryNew Hartford, CT501(c)(3)General Support$30,000
Canaan Child Care CenterCanaan, CT501(c)(3)Support Playground Structure$28,500
The Ct Community FoundationWaterbury, CT501(c)(3)Support Adap. Leadership Prog.$26,875
Family Strides IncTorrington, CT501(c)(3)Support home visitation programs$25,000
Symphony HallBoston, MA501(c)(3)Support Tanglewood$25,000
Colebrook CongregationalColebrook, CT501(c)(3)General Support$24,000
Hertitage Land Pres TrustTorrington, CT501(c)(3)General Support$23,000
Washington Art AssociationWashington, CT501(c)(3)General Support$20,625
Cornwall Historical SocietyCornwall, CT501(c)(3)General Support$20,000
Hotchkiss Library of SharonSharon, CT501(c)(3)Programs & Fundraising Study$20,000
Torrington Winsted RotaryTorrington, CT501(c)(3)General Support$20,000
Five Points GalleryTorrington, CT501(c)(3)Support Gummer Exhibit$17,500
Food Rescue USNorwalk, CT501(c)(3)General Support$17,500
Houisatonic Child Care CenterCornwall Bridge, CT501(c)(3)COVID Support$17,500
Town of NorfolkNorfolk, CTTownSelectmen's Discr & resident supt$15,000
Torrington Public SchoolsTorrington, CTTownProgram Support$14,500
Litchfield Community CenterLitchfield, CT501(c)(3)Program and General support$13,350
Susan B AnthonyTorrington, CT501(c)(3)General Support$12,340
Kent Library AssociationKent, CT501(c)(3)General Support$12,250
Barkhamsted Historical SocietPleasent View, CT501(c)(3)General Support$12,000
Colebrook Associates IncColebrook, CT501(c)(3)General Support$11,200
Cornell Univ - Vet MedicineIthaca, NY501(c)(3)Support various vet medicine proj$11,200
Tufts Univ School of Vet MedNorth Grafton, MA501(c)(3)General Support$11,200
Yankee Golden Retriever RescuHudson, MA501(c)(3)General Support$11,200
Family & Childrens Aid IncDanbury, CT501(c)(3)Program Support$11,000
United Cong ChurchLittle Compton, RI501(c)(3)Program Support$11,000
Helping Hands Chore ServiceWinsted, CT501(c)(3)COVID Support$10,625
Town of ColebrookColebrook, CTTownSenior Ctr Equipment$10,500
Book Industry Charitable FounAnn Arbor, MI501(c)(3)General Support$10,000
GreenagersSouth Egreen, MA501(c)(3)General Support$10,000
Indian River Land TrustVero Beach, FL501(c)(3)For the Capital Appeal$10,000
Nutmeg Ballet ConservatoryTorrington, CT501(c)(3)General Support$10,000
Winchester Land Trust IncWinchester Ctr, CT501(c)(3)Purchase Carey Point Property$9,950
Connecticut Democracy CenterHartford, CT501(c)(3)Support the Torrington Region Ct$9,000
Friendly Hands Food Bank IncTorrington, CT501(c)(3)General & Program Support$9,000
After School Arts Program INCWashington Depo, CT501(c)(3)Program Support$8,150
LARC IncTorrington, CT501(c)(3)Support Website and Autism Program$8,000
Housatonic Youth Services BurFalls Village, CT501(c)(3)General Support$7,895
Church of Christ Cong-NorfolkNorfolk, CT501(c)(3)Distressed Resident Needs$7,750
Oliver Wolcott Library IncLitchfield, CT501(c)(3)General and Program Support$7,600
Litchfield Performing ArtsLitchfield, CT501(c)(3)Support Virtual Camp & General$7,500
The Voice of Art IncWarren, CT501(c)(3)Support Juried Fine Art$7,500
Valley Thrift ShopWinsted, CT501(c)(3)General Support$7,500
Goshen Community Care & HospiGoshen, CT501(c)(3)General Support$6,700
Germantown Friends SchoolPhiladelphia, PA501(c)(3)General & Program Support$6,500
Colebrook Historical SocietyColebrook, CT501(c)(3)General Support$6,400
Cornwall Social ServicesCornwall, CT501(c)(3)Support General Operating Expenses$6,250
AHA-After School ProgramCanaan, CT501(c)(3)General Support$6,000
Prime Time HouseTorrington, CT501(c)(3)General Support$6,000
Veterans Service Office & MusTorrington, CT501(c)(3)General Support & Final Honors Serv$6,000
New Hartford PTONew Hartford, CT501(c)(3)Various Program Support$5,900
Friends of Main Street WinstWinsted, CT501(c)(3)Replace computer equip and Softwar$5,750
Torrington Varsity Alumni CluTorrington, CT501(c)(3)Support Athlete Scholarships$5,500
Kidsplay Childrens MuseumTorrington, CT501(c)(3)On-line Program Support$5,250
Music MountainLakeville, CT501(c)(3)General and Capital Support$5,250
NW Connecticut Arts CouncilTorrington, CT501(c)(3)General Support$5,250
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$790
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$24,000,680
CRT Remainder Liabiility$697,237
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
No
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 examination of public records regarding non-profit Boards and governance structure, interviews, ByLaw and procedural policies.

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 Board Executive Committee involving an examiniation of supporting data from independently produced reports on community foundation compensation by the National Council on Foundations, the CT Council for Philanthropy, and CT NonProfit Alliance and 990 inspection on Guidestar from 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
2022-06-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Guy Rovezzi
Formed
1999
Legal Domicile
Ct
Voting Board Members
14
Independent Board Members
14
Employees
0
Volunteers
75

Preparer

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

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Decreases

Change in Value of Split-Interest Agreements = -$32769

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. 2021 filings • 501(c)3 • $100M-$250M nonprofits