Civic Intelligence

Norwalk Community College Foundation Inc

EIN 06-6080293 • 501(c)3 • Norwalk, CT

View Organization Page

Profile

The mission of the norwalk community college foundation is threefold: 1) raise funds for norwalk community college programs and scholarships. (2) invest, administer and distribute funds so that students of all ages continue to benefit from challenging opportunities for self-improvement and intellectual growth. (3) inspire and engage our community to share talents and resources.

188 Richards Avenue E311Norwalk, CT 06854-1655

ncc-foundation.org

Siviq Scores

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

Liabilities / Assets

29th percentile

0.06x

Higher debt load relative to assets than 29% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2023

Liabilities / Revenue

65th percentile

0.51x

Higher debt load relative to revenue than 65% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2023

Net Margin

63rd percentile

10%

Higher net margin than 63% of similar nonprofits.

501(c)3 • $25M-$50M 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

59th percentile

8.4%

Faster asset growth than 59% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Revenue Growth

12th percentile

-19%

Faster revenue growth than 12% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets29th percentile

Assets

Up

$37,961,128

Up $2,732,791 (+7.8%) from 2023

Liabilities

Down

$1,762,079

Down $379,482 (-18%) from 2023

Net Assets

Up

$36,199,049

Up $3,112,273 (+9.4%) from 2023

Operations
Liabilities / Revenue65th percentileNet Margin63rd percentile

Revenue

Up

$5,485,011

Up $1,257,174 (+30%) from 2023

Expenses

Down

$3,026,252

Down $769,671 (-20%) from 2023

Net Income

Up

$2,458,759

Up $2,026,845 (+469%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth59th percentile

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

$40M$30M$20M$10M$0Assets 2010: $30,300,526Liabilities 2010: $1,913,659Net Assets 2010: $28,386,8672010Assets 2011: $26,459,938Liabilities 2011: $2,190,296Net Assets 2011: $24,269,6422011Assets 2012: $26,886,653Liabilities 2012: $2,041,448Net Assets 2012: $24,845,2052012Assets 2013: $28,342,964Liabilities 2013: $1,944,444Net Assets 2013: $26,398,5202013Assets 2014: $28,834,103Liabilities 2014: $2,043,238Net Assets 2014: $26,790,8652014Assets 2015: $26,154,376Liabilities 2015: $1,368,373Net Assets 2015: $24,786,0032015Assets 2016: $27,245,946Liabilities 2016: $1,652,254Net Assets 2016: $25,593,6922016Assets 2017: $28,219,942Liabilities 2017: $1,247,390Net Assets 2017: $26,972,5522017Assets 2018: $28,650,165Liabilities 2018: $790,901Net Assets 2018: $27,859,2642018Assets 2019: $28,820,258Liabilities 2019: $1,279,196Net Assets 2019: $27,541,0622019Assets 2020: $30,346,281Liabilities 2020: $1,454,074Net Assets 2020: $28,892,2072020Assets 2021: $35,805,115Liabilities 2021: $1,161,366Net Assets 2021: $34,643,7492021Assets 2022: $32,505,867Liabilities 2022: $1,526,550Net Assets 2022: $30,979,3172022Assets 2023: $35,228,337Liabilities 2023: $2,141,561Net Assets 2023: $33,086,7762023Assets 2024: $37,961,128Liabilities 2024: $1,762,079Net Assets 2024: $36,199,0492024

Highlighted filing

2024

Assets$37,961,128
Liabilities$1,762,079
Net Assets$36,199,049
Open 2024 Filing

Operations Trend

Revenue Growth12th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $2,527,8292010Expenses 2011: $5,737,2182011Expenses 2012: $3,172,6722012Revenue 2013: $2,710,128Expenses 2013: $2,499,689Net Income 2013: $210,4392013Revenue 2014: $4,026,993Expenses 2014: $2,920,395Net Income 2014: $1,106,5982014Revenue 2015: $2,760,859Expenses 2015: $2,807,477Net Income 2015: -$46,6182015Revenue 2016: $3,853,530Expenses 2016: $3,281,266Net Income 2016: $572,2642016Revenue 2017: $2,141,699Expenses 2017: $950,893Net Income 2017: $1,190,8062017Revenue 2018: $3,711,539Expenses 2018: $3,081,109Net Income 2018: $630,4302018Revenue 2019: $3,527,398Expenses 2019: $4,027,483Net Income 2019: -$500,0852019Revenue 2020: $4,984,594Expenses 2020: $3,512,273Net Income 2020: $1,472,3212020Revenue 2021: $4,946,080Expenses 2021: $3,085,106Net Income 2021: $1,860,9742021Revenue 2022: $5,211,834Expenses 2022: $3,399,390Net Income 2022: $1,812,4442022Revenue 2023: $4,227,837Expenses 2023: $3,795,923Net Income 2023: $431,9142023Revenue 2024: $5,485,011Expenses 2024: $3,026,252Net Income 2024: $2,458,7592024

Highlighted filing

2024

Revenue$5,485,011
Expenses$3,026,252
Net Income$2,458,759
Open 2024 Filing

Filings

Most recent year

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

Open filing
Assets
$37,961,128
Liabilities
$1,762,079
Net assets
$36,199,049
Revenue
$5,485,011
Expenses
$3,026,252
Net income
$2,458,759
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$38.0$1.76$36.2$5.49$3.03$2.46
2023Detailed filing. Detailed filing data is available for this year.$35.2$2.14$33.1$4.23$3.80$0.43
2022Detailed filing. Detailed filing data is available for this year.$32.5$1.53$31.0$5.21$3.40$1.81
2021Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$35.8$1.16$34.6$4.95$3.09$1.86
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$30.3$1.45$28.9$4.98$3.51$1.47
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$28.8$1.28$27.5$3.53$4.03$0.50
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$28.7$0.79$27.9$3.71$3.08$0.63
2017Summary only. Only limited summary data is available for this year.$28.2$1.25$27.0$2.14$0.95$1.19
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$27.2$1.65$25.6$3.85$3.28$0.57
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$26.2$1.37$24.8$2.76$2.81$0.05
2014Detailed filing. Detailed filing data is available for this year.$28.8$2.04$26.8$4.03$2.92$1.11
2013Detailed filing. Detailed filing data is available for this year.$28.3$1.94$26.4$2.71$2.50$0.21
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$26.9$2.04$24.8$3.17
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$26.5$2.19$24.3$5.74
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$30.3$1.91$28.4$2.53
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Mar 12, 2025
Return Version
2023v6.0
Gross Receipts
$92,107,928
Mission and Program Overview

Mission

The mission of the norwalk community college foundation is three-fold: 1) raise funds for norwalk community college programs and scholarships. Continued on schedule o. . . (2) invest, administer and distribute funds so that students of all ages continue to benefit from challenging opportunities for self-improvement and intellectual growth. (3) inspire and engage our community to share talents and resources.

Fundraising for scholarships, programs and capital support for ct state community college norwalk.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$28,988,422$31,285,613▲ $2,297,191
Savings and Temporary Cash Investments$5,896,588$6,575,034▲ $678,446
Cash and Non-Interest-Bearing Accounts$157,712$80,067▼ $77,645
Investments Other Securities$57,797--
Land, Buildings, and Equipment, Net$11,517$14,205▲ $2,688
Prepaid Expenses and Deferred Charges$7,301$5,209▼ $2,092
Pledges and Grants Receivable$109,000$1,000▼ $108,000
Total Assets$35,228,337$37,961,128▲ $2,732,791
Liabilities
Grants Payable$1,972,719$1,432,208▼ $540,511
Accounts Payable and Accrued Expenses$30,125$172,853▲ $142,728
Other Liabilities$138,717$157,018▲ $18,301
Total Liabilities$2,141,561$1,762,079▼ $379,482
Net Assets / Fund Balance
Net Assets With Donor Restrictions$29,872,103$32,217,892▲ $2,345,789
Net Assets Without Donor Restrictions$3,214,673$3,981,157▲ $766,484
Total Net Assets Fund Balance$33,086,776$36,199,049▲ $3,112,273
Total Liabilities and Net Assets / Fund Balance$35,228,337$37,961,128▲ $2,732,791

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$14,205$40,724$54,929
Equipment$0$20,291$20,291

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$24,477,298$256,348▲ $3,108,620$1,022,317$26,751,890
2022$22,870,644$120,550▲ $2,374,801$888,696$24,477,299
2021$27,466,722$119,461▼ $3,315,093$1,400,446$22,870,644
2020$22,328,788$101,537▲ $6,075,117$1,038,720$27,466,722
2019$22,364,115$308,933▲ $824,740$1,169,000$22,328,788
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kris YeagerCFOFT$136,600$12,866$149,466
Vincent a MurphyInterim CEOFT$105,385$923$106,308

Board Members and Trustees

NameTitle
Deborah C McleanDirector/ Chair
Joseph R ZimmelDirector/vice Chair
Catalina HorakDirector
Ester Ramirez-cepedaDirector
GM O'CONNELLDirector
George a ReillyDirector
Jerry NielsenDirector
Kenneth BernheimDirector
Laura SternerDirector
Livia BarndollarDirector
Noradeen FarlekasDirector
Phil SnowDirector
Porschia TurnerDirector
Read HubbardDirector
Robert GranataDirector
Susan G WeinbergerDirector
Tara LovanioDirector
Tom ReynoldsDirector
Vasso GyftopoulosDirector
Vinjay GandhiDirector
Warren PenaDirector
Laura EricksonDirector/secretary
Jon GoldDirector/treasurer
Nancy Von EulerCEO
Revenue and Support

Revenue Composition

Contributions and Grants
$2,289,586
Program Service Revenue
$0
Investment Income
$3,195,425
Other Revenue
$0
All Other Contributions
$2,289,586
Change in Net Assets
$2,458,759

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,403,173
Revenue Not Reported on Financial Statements
$81,838
Revenue Not Reported on Form 990
$653,965
Total Revenue per Audited Statements
$6,057,138
Total Revenue per Form 990
$5,485,011
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,921,346
Salaries, Compensation, and Employee Benefits$770,688
Other Expenses$334,218
Total Fundraising Expense$287,464
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$1,600,564--$1,600,564
Current Officers, Directors, Trustees, and Key Employees$146,572$126,279$81,169$354,020
Grants to Domestic Orgs$320,782--$320,782
Other Salaries and Wages$114,346$75,124$130,719$320,189
Fees for Service Investment Mgmnt Fees-$81,838-$81,838
Fees for Services Other$2,990$60,879$2,167$66,036
Payroll Taxes$19,976$15,313$16,595$51,884
Information Technology$20,791$9,831$15,069$45,691
Fees for Services Accounting-$44,075-$44,075
Pension Plan Contributions$9,374$5,784$12,650$27,808
Fees for Services Legal-$24,645-$24,645
Insurance$9,156$4,329$6,636$20,121
Advertising$8,715$4,121$6,317$19,153
Other Employee Benefits$6,464$4,953$5,370$16,787
Office Expenses$3,855$1,823$2,794$8,472
Conferences and Meetings$2,956$1,398$2,143$6,497
Depreciation Depletion$2,122$1,003$1,538$4,663
Other Expenses$1,167$552$847$2,566
Total Functional Expenses$2,274,590$464,198$287,464$3,026,252

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$3,026,252
Total Expenses per Audited Statements$2,944,865
Expenses per Audited Statements$2,944,414
Expenses Not Reported on Financial Statements$81,838
Expenses Not Reported on Form 990$451
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Ct State Community College NorwalkNorwalk, CT115Campus Support Including Funding Faculty Positions in Center for Science, College Advancement and Emergency Grants to Support Non-recurring Student Critical Needs Such as Technology for Virtual Learning, Food, Housing, Childcare, Etc.$320,782
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Refundable Advances$157,018
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
No
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, Section B, Line 11B

“The form 990 is prepared by an independent accountant. Form 990 is also reviewed by the audit committee, and subsequently distributed to the board of directors prior to filing with the irs.”

Form 990, Part VI, Section B, Line 12C

“The conflict of interest questionnaire is distributed annually to all board directors and the president & ceo by the board chair of the foundation. The questionnaire responses are then reviewed by the audit committee chair, and board chair.”

Form 990, Part VI, Section B, Line 15A

“The salary of the president & ceo is reviewed annually by the executive committee of the foundation board of directors. The executive committee considers the salaries of other ceo's disclosed on forms 990 of similar not for profit organizations in the area.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available upon request.”

Filing and Contact Details

Filer

Filer Name
Norwalk Community College Foundation Inc
EIN
06-6080293
Phone
2038577262
Address
188 RICHARDS AVENUE E311, NORWALK, CT 06854-1655

Signing Officer

Name
Nancy Von Euler
Title
CEO
Phone
2038577261
Signed
2025-03-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nancy Von Euler
Formed
1965
Legal Domicile
Ct
Voting Board Members
23
Independent Board Members
23
Employees
8
Volunteers
30

Preparer

Firm
Cbiz Advisors LLC
Address
4 MANHATTANVILLE ROAD SUITE 402, PURCHASE, NY 10577
Preparer
Magdalena Czerniawski
Phone
9145249000
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The organization has an audit committee that is responsible for the oversight of the audit, its financial statements, as well as the selection of an independent accountant. The process has not changed from the prior year.”

Financial Statement Notes

PART V, LINE 4:

“The intended use of the endowment is for scholarships and grants to ct state community college norwalk.”

PART X, LINE 2:

“The foundation evaluates all significant tax positions in accordance with accounting principles generally accepted in the united states of america. As of june 30, 2024, the foundation does not believe that it has taken any positions that would require the recording of any tax liability nor does it believe that there are any unrealized tax benefits that would either increase or decrease within the next year.”

Raw XML AppendixShowing 400 of 631 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.

Path#Value
IRS990/AccountantCompileOrReviewInd00
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IRS990/AccountsPayableAccrExpnssGrp/EOYAmt0172853
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IRS990/ActivityOrMissionDesc0FUNDRAISING FOR SCHOLARSHIPS, PROGRAMS AND CAPITAL SUPPORT FOR CT STATE COMMUNITY COLLEGE NORWALK.
IRS990/AdvertisingGrp/FundraisingAmt06317
IRS990/AdvertisingGrp/ManagementAndGeneralAmt04121
IRS990/AdvertisingGrp/ProgramServicesAmt08715
IRS990/AdvertisingGrp/TotalAmt019153
IRS990/AllOtherContributionsAmt02289586
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IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0188 RICHARDS AVE SUITE E311
IRS990/BooksInCareOfDetail/USAddress/CityNm0NORWALK
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0CT
IRS990/BooksInCareOfDetail/USAddress/ZIPCd0068541655
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IRS990/DepreciationDepletionGrp/TotalAmt04663
IRS990/Desc0THE DISTRIBUTION OF SCHOLARSHIPS IS ONE OF THE PRIMARY OBJECTIVES OF THE FOUNDATION. IN THE 2022/2023 ACADEMIC YEAR, 815 STUDENTS WERE AWARDED SCHOLARSHIPS. THE AMOUNT REPORTED ABOVE IS FOR THE FISCAL YEAR ENDING JUNE 30, 2024. SCHOLARSHIPS BESTOW ON STUDENTS A VALUABLE SENSE OF RECOGNITION AND ACCOMPLISHMENT AS WELL AS IMPORTANT FINANCIAL SUPPORT. OUR SCHOLARSHIP DONORS INCLUDE PRIVATE INDIVIDUALS, CORPORATIONS AND FOUNDATIONS, ALL OF WHOM ARE COMMITTED TO MAKING AN EDUCATION AFFORDABLE FOR CT STATE NORWALK STUDENTS. THE FOUNDATION'S SCHOLARSHIP PROCESS IS COMPETITIVE AND ACADEMIC ACHIEVEMENT IS A PRIMARY CONSIDERATION. HOWEVER, FINANCIAL NEED, SPECIAL CIRCUMSTANCES AND PERSONAL QUALITIES ARE ALSO CONSIDERED IN AWARDING SCHOLARSHIPS. SCHOLARSHIP APPLICATIONS ARE ADMINISTERED ACCORDING TO POLICIES ESTABLISHED BY THE SCHOLARSHIP COMMITTEE AND APPROVED BY THE BOARD OF DIRECTORS.
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IRS990/Form990PartVIISectionAGrp/PersonNm15READ HUBBARD
IRS990/Form990PartVIISectionAGrp/PersonNm16ROBERT GRANATA
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IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR/TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR/VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt23CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt24CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt25INTERIM CEO
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IRS990/MissionDesc0THE MISSION OF THE NORWALK COMMUNITY COLLEGE FOUNDATION IS THREEFOLD: 1) RAISE FUNDS FOR CT STATE COMMUNITY COLLEGE NORWALK PROGRAMS AND SCHOLARSHIPS. (2) INVEST, ADMINISTER AND DISTRIBUTE FUNDS SO THAT STUDENTS OF ALL AGES CONTINUE TO BENEFIT FROM CHALLENGING OPPORTUNITIES FOR SELF-IMPROVEMENT AND INTELLECTUAL GROWTH. (3) INSPIRE AND ENGAGE OUR COMMUNITY TO SHARE TALENTS AND RESOURCES.
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IRS990/OtherExpensesGrp/Desc1INCENTIVES & OTHER SUPP
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IRS990/ProgSrvcAccomActy2Grp/Desc0THE FOUNDATION SUPPORTS CT STATE COMMUNITY COLLEGE NORWALK TO FURTHER THE DEVELOPMENT OF THE STUDENT BODY BY PROVIDING FUNDING FOR A VARIETY OF PROGRAMS AND INITIATIVES. THE AMOUNT REPORTED ABOVE IS FOR THE FISCAL YEAR ENDING JUNE 30, 2024.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0445980

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