The Community Foundation for Greater New Haven

Nonprofit profile at a glance

EIN
066032106
IRS 990 coverage
2014–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
New Haven, CT, USA
Phone
2037772386
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Community Foundations

Official website

Reported finances

Revenue
$55,709,123
Expenses
$43,280,021
Assets
$627,372,618
Liabilities
$161,837,730

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

Leadership & pay

23 people listed

Executive titles in this filing

  • WILLIAM W GINSBERG (PRESIDENT & CEO (LEFT 11/2024))
  • KAREN DUBOIS-WALTON (PRESIDENT & CEO (START 11/2024))

Highest reported compensation

  • WILLIAM W GINSBERG (PRESIDENT & CEO (LEFT 11/2024)): $636,648 total reported compensation
  • ANDREW F ALDEN (CHIEF INVESTMENT OFFICER): $463,618 total reported compensation
  • CHRISTINA CIOCIOLA (SR. VP FOR GRANT MAKING): $327,417 total reported compensation

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

Overview

Mission

The mission of the community foundation is to create positive and sustainable change in greater new haven by increasing the amount and enhancing the impact of community philathropy.

What it reported doing in 2024

Economic success: grants that support programs and services thatpromote regional economic success.

Operating model

Revenue model
Donor-supported. 71% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 72% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 73
  • Accountability: 100
  • Sustainability: 78
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 88.6%; rating input score 89
  • Program expense ratio: 75.8%; rating input score 76
  • Fundraising efficiency: $23.38 raised per $1 spent on fundraising; rating input score 61; 61st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Missing
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: 0 of 8 controls in place; rating input score 0
    • Claims monitoring procedures: Limited
    • Requires narrative reports: Limited
    • Conducts field audits: Limited
    • May suspend future funding: Limited
    • Requires financial reports: Limited
    • Conducts site visits: Limited
    • Requires grant agreements: Limited
    • May require repayment: Limited
  • Grant itemization coverage: 100%; rating input score 100; 77th 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; 77th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 22.3%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 14.5; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.26; rating input score 61; 61st percentile among comparable filings
  • Officer compensation ratio: 6.4%; rating input score 9; 9th percentile among comparable filings

Growth

  • Program expense growth: 6.1% per year; rating input score 100; 50th percentile among comparable filings
  • Revenue growth: -3.5% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: 4.2% per year; rating input score 100; 29th percentile among comparable filings

Details

  • Where the money goes: 88.6% of revenue deployed · 75.8% of spending went to programs
  • Governance: 14 of 14 board members independent · 9 of 9 filing controls reported
  • Programs: 9 filed program accomplishments · $32.8M in reported program spending
  • Leadership: top reported pay $637K · 23 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $1.8M reported
  • Consistency: 39 of 39 current checks pass
  • Schedules: 10 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 10 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 514 filed money-flow records
  • Related organizations: 467 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.

Key Signals

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

  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 9/100.