The Ccsu Foundation Inc

Nonprofit profile at a glance

EIN
237354328
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
New Britain, CT, USA
Phone
8608320711
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
University or Technological Institute

Reported finances

Revenue
$12,702,767
Expenses
$5,899,163
Assets
$110,056,247
Liabilities
$478,611

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

15 people listed

Executive titles in this filing

  • JENNIFER DESTEFANI (EXECUTIVE DIRECTOR)

People named in this filing

  • ALEXANDER LEE (DIRECTOR)
  • ANTHONY S TORSIELLO (DIRECTOR)
  • CURTIS WIGGINS (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The ccsu foundation, inc. Was created in 1971, at the request of the university, as a vehicle to obtain private contributions to support educational programs and research at central Connecticut state university.

What it reported doing in 2024

Institutional enrichment-assist university in funding special institutional enrichment projects when funding would not otherwise be available.

Operating model

Revenue model
Investment-supported. 63% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 86% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 90
  • Accountability: 100
  • Sustainability: 95
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 56.9%; rating input score 57
  • Program expense ratio: 80.5%; rating input score 80
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 94.4%; rating input score 94; 22nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 53.6%; rating input score 94; 94th percentile among comparable filings
  • Total-asset coverage ratio: 18.66; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 94; 94th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 96; 96th percentile among comparable filings

Growth

  • Program expense growth: 4.6% per year; rating input score 100; 39th percentile among comparable filings
  • Revenue growth: 1.1% per year; rating input score 100; 13th percentile among comparable filings
  • Asset growth: 6.5% per year; rating input score 100; 46th percentile among comparable filings

Details

  • Where the money goes: 56.9% of revenue deployed · 80.5% of spending went to programs
  • Governance: 14 of 14 board members independent · 7 of 7 filing controls reported
  • Programs: 4 filed program accomplishments · $4.7M in reported program spending
  • Leadership: top reported pay $0 · 15 people listed
  • Consistency: 30 of 31 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Mission deployment rate scored 57/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.