Civic Intelligence

Farmington Foundation Inc

EIN 06-6070887 • 501(c)3 • Farmington, CT

Profile

See schedule o the farmington foundation is a low-interest student loan fund. All students going to college as an undergraduate may apply for a loan. Loans are granted by the loan committee if the student demonstrates financial need.

C/O Budwitz Meyerjack PcFarmington, CT 06034-0391

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

78th percentile

0.10x

Higher debt load relative to assets than 78% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

100th percentile

77.59x

Higher debt load relative to revenue than 100% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

2nd percentile

-3566%

Higher net margin than 2% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

51st percentile

-1.2%

Faster asset growth than 51% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

94th percentile

133%

Faster revenue growth than 94% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets78th percentile

Assets

Down

$458,134

Down $5,335 (-1.2%) from 2023

Liabilities

Down

$0

Down $45,000 (-100%) from 2023

Net Assets

Up

$458,134

Up $39,665 (+9.5%) from 2023

Operations
Liabilities / Revenue100th percentileNet Margin2nd percentile

Revenue

Up

$45,938

Up $45,358 (+7820%) from 2023

Expenses

Down

$6,274

Down $14,990 (-70%) from 2023

Net Income

Up

$39,664

Up $60,348 (+292%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth51st percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$600K$400K$200K$0Assets 2010: $575,033Liabilities 2010: $0Net Assets 2010: $575,0332010Assets 2011: $565,790Liabilities 2011: $0Net Assets 2011: $565,7902011Assets 2012: $541,740Liabilities 2012: $0Net Assets 2012: $541,7402012Assets 2013: $547,812Liabilities 2013: $0Net Assets 2013: $547,8122013Assets 2014: $539,942Liabilities 2014: $0Net Assets 2014: $539,9422014Assets 2015: $538,450Liabilities 2015: $0Net Assets 2015: $538,4502015Assets 2016: $527,569Liabilities 2016: $0Net Assets 2016: $527,5692016Assets 2017: $523,153Liabilities 2017: $0Net Assets 2017: $523,1532017Assets 2018: $519,165Liabilities 2018: $0Net Assets 2018: $519,1652018Assets 2019: $542,432Liabilities 2019: $15,000Net Assets 2019: $527,4322019Assets 2020: $520,755Liabilities 2020: $18,300Net Assets 2020: $502,4552020Assets 2021: $475,289Liabilities 2021: $15,000Net Assets 2021: $460,2892021Assets 2022: $469,153Liabilities 2022: $30,000Net Assets 2022: $439,1532022Assets 2023: $463,469Liabilities 2023: $45,000Net Assets 2023: $418,4692023Assets 2024: $458,134Liabilities 2024: $0Net Assets 2024: $458,1342024

Highlighted filing

2024

Assets$458,134
Liabilities$0
Net Assets$458,134
Open 2024 Filing

Operations Trend

Revenue Growth94th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$50K$0-$50KExpenses 2010: $25,0502010Revenue 2011: $8,578Expenses 2011: $17,821Net Income 2011: -$9,2432011Expenses 2012: $35,0512012Revenue 2013: $16,200Expenses 2013: $10,128Net Income 2013: $6,0722013Revenue 2014: $9,262Expenses 2014: $17,132Net Income 2014: -$7,8702014Revenue 2015: $10,638Expenses 2015: $12,130Net Income 2015: -$1,4922015Revenue 2016: $8,255Expenses 2016: $19,136Net Income 2016: -$10,8812016Revenue 2017: $7,739Expenses 2017: $12,155Net Income 2017: -$4,4162017Revenue 2018: $8,158Expenses 2018: $12,146Net Income 2018: -$3,9882018Revenue 2019: $26,535Expenses 2019: $18,268Net Income 2019: $8,2672019Revenue 2020: $670Expenses 2020: $20,987Net Income 2020: -$20,3172020Revenue 2021: $4,058Expenses 2021: $46,224Net Income 2021: -$42,1662021Revenue 2022: $249Expenses 2022: $21,385Net Income 2022: -$21,1362022Revenue 2023: $580Expenses 2023: $21,264Net Income 2023: -$20,6842023Revenue 2024: $45,938Expenses 2024: $6,274Net Income 2024: $39,6642024

Highlighted filing

2024

Revenue$45,938
Expenses$6,274
Net Income$39,664
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$458,134
Liabilities
$0
Net assets
$458,134
Revenue
$45,938
Expenses
$6,274
Net income
$39,664
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.58$0.00$4.58$0.46$0.06$0.40
2023Detailed filing. Detailed filing data is available for this year.$4.63$0.45$4.18$0.01$0.21$0.21
2022Detailed filing. Detailed filing data is available for this year.$4.69$0.30$4.39$0.00$0.21$0.21
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.75$0.15$4.60$0.04$0.46$0.42
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.21$0.18$5.02$0.01$0.21$0.20
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.42$0.15$5.27$0.27$0.18$0.08
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.19$0.00$5.19$0.08$0.12$0.04
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.23$0.00$5.23$0.08$0.12$0.04
2016Detailed filing. Detailed filing data is available for this year.$5.28$0.00$5.28$0.08$0.19$0.11
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.38$0.00$5.38$0.11$0.12$0.01
2014Detailed filing. Detailed filing data is available for this year.$5.40$0.00$5.40$0.09$0.17$0.08
2013Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$5.48$0.00$5.48$0.16$0.10$0.06
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.42$0.00$5.42$0.35
2011Summary only. Only limited summary data is available for this year.$5.66$0.00$5.66$0.09$0.18$0.09
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.75$0.00$5.75$0.25
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Oct 1, 2023 to Sep 30, 2024
Signed
Dec 16, 2024
Return Version
2023v6.0
Gross Receipts
$45,938
Mission and Program Overview

Mission

See schedule o the farmington foundation is a low-interest student loan fund. All students going to college as an undergraduate may apply for a loan. Loans are granted by the loan committee if the student demonstrates financial need.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$368,205$368,208▲ $3
Other Notes and Loans Receivable, Net$95,265$89,926▼ $5,339
Total Assets$463,470$458,134▼ $5,336
Liabilities
Accounts Payable and Accrued Expenses$45,000--
Total Liabilities$45,000$0▼ $45,000
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$418,470$458,134▲ $39,664
Total Net Assets Fund Balance$418,470$458,134▲ $39,664
Total Liabilities and Net Assets / Fund Balance$463,470$458,134▼ $5,336
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Kevin S RayPresident
David HaworthDirector
Edward G Cruess JrDirector
Janice RimillerDirector
John H HangenDirector
Michael GurskiDirector
Michael a Ziebka CPADirector
Susan HaworthDirector
Thomas CiesielskiDirector
Walter Nicksa JrDirector
Jennifer PogsonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$811
Investment Income
$127
Other Revenue
$45,000
Change in Net Assets
$39,664
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$6,000
Other Expenses$274
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$6,000--$6,000
Office Expenses$200$24-$224
Other Expenses-$50-$50
Total Functional Expenses$6,200$74$0$6,274
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
Yes
Backup withholding compliance
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“A complete copy of the annual form 990 is presented to the entire governing board in draft form prior to its approval. Upon approval by the board, the president signs the 990 and form 8879-eo.”

Form 990, Page 6, Part VI, Line 19

“UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Farmington Student Loan Foundation
EIN
06-6070887
Phone
8606774697
Address
C/O BUDWITZ MEYERJACK PC, FARMINGTON, CT 06034-0391

Signing Officer

Name
Kevin S Ray
Title
President
Phone
8606772621
Signed
2024-12-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kevin S Ray
Formed
1964
Legal Domicile
Ct
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
9

Preparer

Firm
Budwitz & Meyerjack Pc
Address
322 MAIN ST, FARMINGTON, CT 06032
Preparer
Michael a Ziebka CPA
Phone
8606774697
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“See schedule o the farmington foundation is a low-interest student loan fund. All students going to college as an undergraduate may apply for a loan. Loans are granted by the loan committee if the student demonstrates financial need.”

Form 990, Part XII

“We are not independent because cpa is a director”

Raw XML Appendix356 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt10PRESIDENT
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE NUMBER OF RECIPIENTS IS EXACTLY SIX FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2024. A SCHOLARSHIP COMMITTEE OF THE ORGANIZATION'S BOARD OF DIRECTORS RECOMMENDS SIX SCHOLARSHIPS IN THE AMOUNT OF 1,000 EACH. THE TOTAL SCHOLARSHIP AWARD IS PRESENTED TO THE SUPERINTENDENT OF THE PUBLIC SCHOOLS FOR THE TOWN OF FARMINGTON, CONNECTICUT. THE SUPERINTENDENT MAKES A DETERMINATION OF LOCAL HIGH SCHOOL STUDENTS WHO ARE DESERVING OF THE SCHOLARSHIP AWARD AND NOTIFIES THE FOUNDATION'S SCHOLARSHIP COMMITTEE.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PAGE 1, PART I, LINE 2
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0SEE SCHEDULE O THE FARMINGTON FOUNDATION IS A LOW-INTEREST STUDENT LOAN FUND. ALL STUDENTS GOING TO COLLEGE AS AN UNDERGRADUATE MAY APPLY FOR A LOAN. LOANS ARE GRANTED BY THE LOAN COMMITTEE IF THE STUDENT DEMONSTRATES FINANCIAL NEED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COMPLETE COPY OF THE ANNUAL FORM 990 IS PRESENTED TO THE ENTIRE GOVERNING BOARD IN DRAFT FORM PRIOR TO ITS APPROVAL. UPON APPROVAL BY THE BOARD, THE PRESIDENT SIGNS THE 990 AND FORM 8879-EO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3WE ARE NOT INDEPENDENT BECAUSE CPA IS A DIRECTOR
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XII
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IRS990/USAddress/AddressLine1Txt02 GARDEN STREET
IRS990/USAddress/CityNm0FARMINGTON
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IRS990/USAddress/ZIPCd006032
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0KEVIN S RAY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08606772621
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-12-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FARMINGTON STUDENT LOAN FOUNDATION
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0INC C/O BUDWITZ & MEYERJACK PC
ReturnHeader/Filer/BusinessNameControlTxt0FARM
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ReturnHeader/Filer/USAddress/AddressLine1Txt0C/O BUDWITZ MEYERJACK PC
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0FARMINGTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd006032
ReturnHeader/PreparerPersonGrp/PhoneNum08606774697
ReturnHeader/PreparerPersonGrp/PreparationDt02025-02-17
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MICHAEL A ZIEBKA CPA
ReturnHeader/ReturnTs02025-02-17T17:07:33-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-10-01
ReturnHeader/TaxPeriodEndDt02024-09-30
ReturnHeader/TaxYr02023

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