The Valley Community Foundation Inc

Nonprofit profile at a glance

EIN
841637102
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Derby, CT, USA
Phone
2037772386
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Public Foundations

Official website

Reported finances

Revenue
$3,332,289
Expenses
$2,984,632
Assets
$39,623,680
Liabilities
$14,848,191

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

Leadership & pay

16 people listed

Executive titles in this filing

  • SHARON CLOSIUS (PRESIDENT & CEO)

Highest reported compensation

  • WILLIAM GINSBERG (DIRECTOR (LEFT 12/2024)): $636,648 total reported compensation
  • WENDY GAMBA (CHIEF FINANCIAL OFFICER (LEFT 1/24)): $268,880 total reported compensation
  • SHARON CLOSIUS (PRESIDENT & CEO): $214,757 total reported compensation

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

Overview

Mission

To inspire philanthropic growth, provide and foster leadership, engage donors, and strengthen the valley community both now and for future generations.

What it reported doing in 2024

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

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 71% 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 most voting board members are independent. The filing reports few safeguards for money sent abroad and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 64
  • Accountability: 100
  • Sustainability: 63
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 86.6%; rating input score 87
  • Fundraising efficiency: $9.22 raised per $1 spent on fundraising; rating input score 35; 35th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.1%; rating input score 94; 23rd 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: Scored; rating input score 0
  • Grant itemization coverage: 57.5%; rating input score 57; 17th 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; 63rd 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: 10.4%; rating input score 63; 63rd percentile among comparable filings
  • Total-asset coverage ratio: 13.28; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0.37; rating input score 28; 28th percentile among comparable filings
  • Officer compensation ratio: 11.8%; rating input score 25; 25th percentile among comparable filings

Growth

  • Program expense growth: 5.8% per year; rating input score 100; 44th percentile among comparable filings
  • Revenue growth: -1.8% per year; rating input score 0; 7th percentile among comparable filings
  • Asset growth: 7.1% per year; rating input score 100; 45th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 86.6% of spending went to programs
  • Governance: 10 of 10 board members independent · 9 of 9 filing controls reported
  • Programs: 8 filed program accomplishments · $2.6M in reported program spending
  • Leadership: top reported pay $637K · 16 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 37 of 38 current checks pass · 1 finding to review
  • Schedules: 9 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: 46 filed money-flow records
  • Related organizations: 44 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.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 35/100.
  • Review — Transparency & Controls: Grant itemization coverage scored 57/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 25/100.
  • High — Sustainability: Liabilities to assets ratio scored 28/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.