Civic Intelligence

Founders Hall Foundation Inc.

990 • Fiscal year 2016 • EIN 31-1776375

Jan 01, 2016 to Dec 31, 2016 • Filed on May 08, 2017

Refreshing map…

193 Danbury RoadRidgefield, CT 06877

(203) 431-7000

Siviq Scores

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

Liabilities / Assets

32nd percentile

0.02x

Higher debt load relative to assets than 32% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

43rd percentile

0.07x

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

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

32nd percentile

-3.6%

Higher net margin than 32% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

70th percentile

$103,498

Higher top officer pay than 70% of similar nonprofits.

Top officer pay equals 11.2% of source-year revenue.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

41st percentile

-0.7%

Faster asset growth than 41% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

52nd percentile

3.5%

Faster revenue growth than 52% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Assets

Down

$2,939,123

Down $21,187 (-0.7%) from 2015

Net Assets

Down

$2,872,129

Down $29,805 (-1.0%) from 2015

Liabilities

Up

$66,994

Up $8,618 (+15%) from 2015

Revenue

Up

$923,404

Up $30,808 (+3.5%) from 2015

Expenses

Up

$956,749

Up $82,258 (+9.4%) from 2015

Net Income

Down

-$33,345

Down $51,450 (-284%) from 2015

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0Assets 2014: $2,940,516Liabilities 2014: $56,140Net Assets 2014: $2,884,3762014Assets 2015: $2,960,310Liabilities 2015: $58,376Net Assets 2015: $2,901,9342015Assets 2016: $2,939,123Liabilities 2016: $66,994Net Assets 2016: $2,872,1292016Assets 2017: $2,947,405Liabilities 2017: $64,922Net Assets 2017: $2,882,4832017Assets 2018: $2,976,813Liabilities 2018: $58,537Net Assets 2018: $2,918,2762018Assets 2019: $5,349,625Liabilities 2019: $67,896Net Assets 2019: $5,281,7292019Assets 2021: $7,626,587Liabilities 2021: $105,525Net Assets 2021: $7,521,0622021Assets 2022: $6,702,894Liabilities 2022: $118,342Net Assets 2022: $6,584,5522022Assets 2024: $8,046,766Liabilities 2024: $222,949Net Assets 2024: $7,823,8172024

Highlighted filing

2016

Assets$2,939,123
Liabilities$66,994
Net Assets$2,872,129

Operations Trend

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2014: $819,749Expenses 2014: $803,955Net Income 2014: $15,7942014Revenue 2015: $892,596Expenses 2015: $874,491Net Income 2015: $18,1052015Revenue 2016: $923,404Expenses 2016: $956,749Net Income 2016: -$33,3452016Revenue 2017: $980,149Expenses 2017: $964,809Net Income 2017: $15,3402017Revenue 2018: $1,082,289Expenses 2018: $991,761Net Income 2018: $90,5282018Revenue 2019: $3,134,246Expenses 2019: $1,032,903Net Income 2019: $2,101,3432019Revenue 2021: $1,556,765Expenses 2021: $1,071,879Net Income 2021: $484,8862021Revenue 2022: $1,255,479Expenses 2022: $1,165,396Net Income 2022: $90,0832022Revenue 2024: $1,589,554Expenses 2024: $1,423,116Net Income 2024: $166,4382024

Highlighted filing

2016

Revenue$923,404
Expenses$956,749
Net Income-$33,345
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
May 8, 2017
Return Version
2016v3.0
Gross Receipts
$970,189
Mission and Program Overview

Mission

Founders hall is dedicated to providing a diverse program of social, educational and physical fitness programs for today's active seniors in a warm, fun and stimulating atmosphere.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,064,937$2,001,261▼ $63,676
Investments Other Securities$718,603$810,848▲ $92,245
Cash and Non-Interest-Bearing Accounts$157,938$113,260▼ $44,678
Prepaid Expenses and Deferred Charges$13,198$10,830▼ $2,368
Accounts Receivable$5,434$2,724▼ $2,710
Total Assets$2,960,310$2,939,123▼ $21,187
Other Assets Total$200$200→ $0
Liabilities
Deferred Revenue$51,680$53,643▲ $1,963
Accounts Payable and Accrued Expenses$6,696$13,351▲ $6,655
Total Liabilities$58,376$66,994▲ $8,618
Net Assets / Fund Balance
Unrestricted Net Assets$2,876,773$2,841,339▼ $35,434
Temporarily Rstr Net Assets$25,161$30,790▲ $5,629
Total Net Assets Fund Balance$2,901,934$2,872,129▼ $29,805
Total Liabilities and Net Assets / Fund Balance$2,960,310$2,939,123▼ $21,187

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,969,437$979,989$2,949,426
Other Land Buildings$11,493$308,447$319,940
Equipment$20,331$60,923$81,254
Other Securities$256,663--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Grace WeberExecutive DirectorFT$95,426$8,072$103,498

Board Members and Trustees

NameTitle
Steven F GoldstoneChairman of the Board
John CouriPresident
Gerri LewisDirector
Jennifer KubickDirector
Kent RohrerDirector
Lori BerisfordDirector
Nancy BossidyDirector
Rudy MarconiDirector
Rudy Ruggles JrDirector
Elaine CouriSecretary
Elizabeth GoldstoneTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$492,343
Program Service Revenue
$331,720
Investment Income
$10,667
Other Revenue
$88,674
All Other Contributions
$492,343
Change in Net Assets
$-33,345

Audited Revenue Reconciliation

Revenue per Audited Statements
$923,404
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$3,540
Total Revenue per Audited Statements
$926,944
Total Revenue per Form 990
$923,404
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$585,398
Other Expenses$371,351
Total Fundraising Expense$96,097
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$333,775$39,898$55,343$429,016
Current Officers, Directors, Trustees, and Key Employees$80,522$9,625$13,351$103,498
Occupancy$87,234$890$890$89,014
Depreciation Depletion$82,850$846$845$84,541
Payroll Taxes$31,636$4,075$9,147$44,858
Office Expenses$15,653$883$1,131$17,667
Insurance$12,867$3,216$847$16,930
Fees for Services Accounting-$11,529-$11,529
All Other Expenses$3,391$1,819$4,449$9,659
Other Expenses$5,641-$2,778$8,419
Other Employee Benefits$5,749$733$1,544$8,026
Total Functional Expenses$787,138$73,514$96,097$956,749

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$956,749
Total Expenses per Audited Statements$956,749
Total Expenses per Form 990$956,749
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$130,009
Fundraising Direct Expenses$46,785
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Wreath Festival$62,209$62,209$29,201$33,008
Battle of the Chefs$60,125$60,125$17,550$42,575
Total Events$130,009$130,009$46,785$83,224
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
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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, Section A, line 2

Steven and Elizabeth Goldstone are husband and wife, as are John and Elaine Couri.

Form 990, Part VI, Section B, line 11B

A complete copy of the Form 990 is made available to all members of the governing body before filing the form.

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

There is an annual review to confirm that there are no conflicts of interest within the Board of Directors that would result in the affected person being dismissed from the Board.

Form 990, Part VI, Section B, line 15

The Board of Directors annually reviews compensation for its top management for reasonableness based on compensation paid to equivalent positions in comparable areas. Data is obtained from independent expert sources and/or industry surveys.

Form 990, Part VI, Section C, line 18

The form 990 is available on Guidestar.org and upon request.

Form 990, Part VI, Section C, line 19

The financial statements can be found on Guidestar.org. Additionally the financial statements are available on the organization's website and on file in the organization's office and can be read there by interested parties.

Filing and Contact Details

Filer

Filer Name
Founders Hall Foundation Inc
EIN
31-1776375
Phone
2034317000
Address
193 Danbury Road, Ridgefield, CT 06877

Signing Officer

Name
John Couri
Title
President
Phone
2034317000
Signed
2017-05-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Couri
Formed
2001
Legal Domicile
De
Voting Board Members
11
Independent Board Members
11
Employees
53
Volunteers
300

Preparer

Firm
Dylewsky Goldberg & Brenner LLC
Address
30 Oak Street, Stamford, CT 06905
Preparer
Scott M Brenner
Phone
2039758830
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C:

The organization has not changed its method from prior years.

Financial Statement Notes

Part X, Line 2:

The Foundation evaluates all significant tax positions as required by accounting principles generally accepted in the USA. As of December 31, 2016, the Foundation does not believe that it has taken any positions that would require the recording of any additional tax liability nor does it believe that there are any unrealized tax benefits that would either increase or decrease within the next year. The Foundation is no longer subject to audits by the applicable taxing authorities for the period prior to 2013.

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IRS990/Desc0Semester Programs: Our diverse and dynamic programming offers opportunities for life-long learning. In 2016, 3,600 people were inspired by classes in art, computers, current events, genealogy, history, investments, literature, languages, music, writing and more. Over 81 instructors taught senior learners;those learners brought lifetimes of wisdom to the discussion, enriching the experience for all. Through more than 30 seminars and speakers, members learned about topics ranging from the invention of computers to police technology, music to the creation motion pictures, travelogues to the concept of infinity. Members expressed their creativity through our band and choruses, drawing, portraiture, watercolors, oil painting, weaving, quilting, sewing, knitting, crocheting, rug hooking and wood carving.
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IRS990/Form990PartVIISectionAGrp/PersonNm0John Couri
IRS990/Form990PartVIISectionAGrp/PersonNm1Steven F Goldstone
IRS990/Form990PartVIISectionAGrp/PersonNm2Elaine Couri
IRS990/Form990PartVIISectionAGrp/PersonNm3Elizabeth Goldstone
IRS990/Form990PartVIISectionAGrp/PersonNm4Nancy Bossidy
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IRS990/Form990PartVIISectionAGrp/PersonNm10Jennifer Kubick
IRS990/Form990PartVIISectionAGrp/PersonNm11Grace Weber
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IRS990/Form990PartVIISectionAGrp/TitleTxt0President
IRS990/Form990PartVIISectionAGrp/TitleTxt1Chairman of the Board
IRS990/Form990PartVIISectionAGrp/TitleTxt2Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt3Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
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IRS990/MissionDesc0Founders Hall is dedicated to providing a diverse program of social, educational and physical fitness programs for today's active seniors in a warm, fun and stimulating atmosphere.
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IRS990/ProgSrvcAccomActy2Grp/Desc0Fitness Program Our members know that if they're going to keep learning, they have to keep moving. So during 2016, members took all kinds of fitness classes here, from simple stretching to hard-core strengthening as well as aerobics, basketball clinics, pickleball, yoga, dancing and more.
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IRS990/ProgSrvcAccomActy3Grp/Desc0Social Events and Trips: At Founders Hall, lifelong residents and those new to town all discover a supportive community that understands the opportunities and challenges of life after 60. In 2016, whether they came for parties, cards, handcrafts or games, members reconnected with old acquaintances, made new friends and stayed engaged with the world.In addition to theatre and casino trips, groups reveled in collections at the Breuer Museum, the Whitney, MoMA and New Britain Museum of Art; walked in the footsteps of immigrants at Ellis Island, the fallen at the 911 Memorial, soldiers at West Point, and Samuel Clemens at the Mark Twain house; tapped their toes at Radio City and traveled the grounds of the New York Botanical Garden and Mohonk Mountain House.
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