Foundation of the Greater New Haven Chamber of Commerce
900 Chapel St
10th Floor
New Haven CT 06510
Contact Information
Address 900 Chapel St
10th Floor
New Haven, CT 06510-
Telephone (203) 787-6735 x
Fax 203-782-4329
E-mail jnorton@gnhcc.com
Mission
The Foundation of the Greater New Haven Chamber of Commerce receives and administers gifts, grants and contributions and assists local and state government leaders in community development programs. 
At A Glance
Year of Incorporation 1994
Organization's type of tax exempt status Public Supported Charity
Organization received a competitive grant from the community foundation in the past five years No
Leadership
CEO/Executive Director Anthony Rescigno
Board Chair Mr. Larry Bingaman
Board Chair Company Affiliation South Central Connecticut Regional Water Authority
Financial Summary
 
Projected Revenue $122,939.00
Projected Expenses $127,555.00
Statements
Mission The Foundation of the Greater New Haven Chamber of Commerce receives and administers gifts, grants and contributions and assists local and state government leaders in community development programs. 
Background

Established in 1994, The Foundation of the Greater New Haven Chamber of Commerce’s purpose is to solicit, receive, and administer gifts and financial resources from private sources for the benefit of programs administered by Greater New Haven Chamber of Commerce. The Foundation of the Greater New Haven Chamber of Commerce's two primary programs are The New Haven Science Fair program and the Greater New Haven Chamber’s Scholarship program.

The Foundation has responsibility for the election of board members who will support Greater New Haven Chamber’s educational programs and initiatives. The elected board of directors is an influential group that assumes the responsibilities of governing the foundation. The vital components of the Foundation’s fund-raising programs include: gifts of cash, and corporate and private foundation gifts. Monies raised help fund scholarships, support services for staff and consultants, and initiatives that promote the Foundation’s philanthropic leadership goal.

As a nonprofit organization, The Foundation of the Greater New Haven Chamber of Commerce is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code. Donations to The Foundation of the Greater New Haven Chamber of Commerce are tax-deductible.

Impact

The Foundation of the Greater New Haven Chamber administers two programs: The New Haven Science Fair program: dedicated to improving the quality of science and math education in the New Haven Public Schools grades Pre-K-12; and The GOAL Scholarship program, dedicated to supporting our future workforce.

The Science Fair's success is due to its partnership involving businesses, universities, foundations, & the public, working with the public schools' teachers, students, parents & administrators. Its goal is to work with children and teachers from Pre-K to Grade 12, to help them carry out investigative hands-on science fair projects, in order to promote skills in critical thinking, science process and communication. Over 7,000 New Haven students and 43 schools participate in the New Haven Science Fair, utilizing more than 160 volunteers for mentoring and judging.

The GOAL Scholarship program supports college students by giving scholarships to New Haven-area students interested in pursuing a college degree in business. In summer 2015, The Foundation partnered with BlumShapiro to hold the 22nd annual golf tournament, which raised $9,200 for GOAL  to benefit six undergraduates in the region. The Foundation credits this success to the launch of a new online-giving campaign on www.youcaring.COM/GOAL, which featured a video of past scholarship recipients and accepted online donations. The results were an $8,300 increase from 2014, which allowed the scholarship program to benefit three additional students. To date, the fund has raised more than $50,000 to support undergraduate students. 100% of donations go directly to the scholarship recipients.

The Foundation credits its success to sponsors, private donors, mentors and volunteers. Its 2016 goals are to continue upon The New Haven Science Fair program and GOAL Scholarship program, and to build an internship program that helps students with finding internships, building invaluable soft-skills, and gaining real-world experience.

Needs

The Foundation is seeking $20,000 for general operating support for 3 programs: New Haven Science Fair program; GOAL Scholarship program; and a new internship program.

These funds will help defray the administrative costs needed to support the Science Fair that serves 8,000 students in 43 New Haven schools. Costs include but are not limited to staffing, storage space rental, name tags, mentor booklets, student handbooks, posters, folders, student display boards, and overall support in finding 160 mentors and judges needed annually for the program.
 

Funding for the Foundation’s GOAL program will enable students to pursue a college degree in business. Funds for the internship program will give interns a valuable opportunity to accumulate new skills and contribute substantially to their future employment.

The Foundation of the Greater New Haven Chamber will use these finances to multiply the impact of these monetary gifts by making targeted investments in programs that get results. Contributions enables donors to take advantage of decades of leadership and experience in helping to invest in the region’s young professionals. These critical dollars are needed to fund programs that support efforts to provide our young people with opportunities to develop solid career pathways.

Service Categories
Primary Organization Category Community Improvement, Capacity Building / Economic Development
Secondary Organization Category Education /
Areas Served
Bethany
Branford
Cheshire
East Haven
Guilford
Hamden
Madison
Milford
New Haven
North Branford
North Haven
Orange
Wallingford
West Haven
Woodbridge
Programs
Description The New Haven Science Fair Program works with children and teachers from PreK-12, to help them carry out investigative hands-on science fair projects, in order to promote skills in critical thinking, scientific process and communication. This approach has now become part of the New Haven science curriculum. The program is focused on making learning exciting and allowing the natural curiosity of young people to inquire about the world around them. The discipline of the scientific method is used to help in the process of answering questions the curiosity raises. The hands-on aspect of the approach keeps it interesting and fulfilling.
Population Served / Children and Youth (0 - 19 years) /
Long Term SuccessHelpOrganizations describe the ultimate change(s) that will result from this program. This may be far into the future and represent an ideal state. The New Haven Science Fair Program is dedicated to improve the quality of education, particularly science and math education in the New Haven Public schools by:

1. Providing a sense of excitement related to learning using hands-on science
2. Helping students develop skills in critical thinking and communications
3. Promoting scientific literacy; and
4. Increasing the number of students taking science and math subjects in high school, and entering the fields of mathematics and science in post-secondary education
Description
The GOAL Scholarship program strengthens the connections between the business community and the area's young professionals. Contributions received benefit the GOAL scholarship fund for New Haven area students interested in pursuing college degrees in business. To date, the fund has raised more than $50,000 to support undergraduate students. 
Population Served General/Unspecified / /
Program is linked to organization’s mission and strategy Yes
Program is frequently assessed based on predetermined program goals Yes
CEO/Executive Director
Anthony Rescigno
Term Start Sept 2000
Email arescigno@gnhcc.com
Staff
Number of Full Time Staff 0
Number of Part Time Staff 0
Number of Volunteers 290
Number of Contract Staff 1
Staff Retention Rate 0%
Staff Demographics - Ethnicity
African American/Black 0
Asian American/Pacific Islander 0
Caucasian 1
Hispanic/Latino 0
Native American/American Indian 0
Other 0 0
Staff Demographics - Gender
Male 0
Female 1
Unspecified 0
Senior Staff
Title Chief Financial Officer
Title Executive Vice President
Formal Evaluations
CEO Formal Evaluation Yes
CEO/Executive Formal Evaluation Frequency Annually
Senior Management Formal Evaluation Yes
Senior Management Formal Evaluation Frequency Annually
Non Management Formal Evaluation Yes
Non Management Formal Evaluation Frequency Annually
Affiliations
AffiliationYear
Greater New Haven Chamber of Commerce1994
Board Chair
Mr. Larry Bingaman
Company Affiliation South Central Connecticut Regional Water Authority
Term Apr 2015 to Apr 2017
Board of Directors
NameAffiliation
Mr. Louis D'Antonio Gateway Community College
Ms. Jennifer Morgan DelMonico Murtha Cullina LLP
Richard J. DeMayo Citizens Bank
Dr. Ellen Durnin Southern Connecticut State University
Mr. Andrew Lubin Neubert, Pepe & Monteith, P.C.
Mr. Hugh I. Manke Updike, Kelly & Spellacy, P.C.
Mr. Len Matteo Jr.Edge Technology Services, Inc.
Mr. Bruce McDermott United Illuminating/Southern CT Gas Co
Mr. Lawrence Moon Jr.C. Cowles & Company
Mr. Vincent Petrini Yale-New Haven Hospital
Mr. Dennis J. Regan BlumShapiro
Mr. Michael Schaffer C A White, Inc.
Mr. Richard Taft Business Transfer Alliance, LLC
Board Demographics - Ethnicity
African American/Black 0
Asian American/Pacific Islander 0
Caucasian 14
Hispanic/Latino 0
Native American/American Indian 0
Other 0 0
Board Demographics - Gender
Male 12
Female 2
Unspecified 0
Governance
Board Term Lengths 3
Board Term Limits 2
Written Board Selection Criteria Under Development
Written Conflict of Interest Policy Yes
Percentage Making Monetary Contributions 7%
Percentage Making In-Kind Contributions 0%
Constituency Includes Client Representation No
Board Co-Chair
Ms. Jennifer Morgan DelMonico
Company Affiliation Murtha Cullina LLP
Term Apr 2015 to Apr 2017
 
 
Financials
Fiscal Year Start Mar 01 2016
Fiscal Year End Feb 28 2017
Projected Revenue $122,939.00
Projected Expenses $127,555.00
Spending Policy N/A
Credit Line No
Reserve Fund No
Detailed Financials
Prior Three Years Expense Allocations Chart
Fiscal Year201620152014
Program Expense$121,886$111,102$102,563
Administration Expense$5,854$4,287$6,525
Fundraising Expense------
Payments to Affiliates------
Total Revenue/Total Expenses0.961.420.93
Program Expense/Total Expenses95%96%94%
Fundraising Expense/Contributed Revenue0%0%0%
Prior Three Years Assets and Liabilities Chart
Fiscal Year201620152014
Total Assets$134,343$165,935$138,032
Current Assets$134,343$165,935$138,032
Long-Term Liabilities------
Current Liabilities$112,350$139,141$159,867
Total Net Assets$21,993$26,794($21,835)
Prior Three Years Top Three Funding Sources
Fiscal Year201620152014
Top Funding Source & Dollar AmountBoard of Education - City of New Haven $32,000Board of Education $32,000Board of Education $32,000
Second Highest Funding Source & Dollar AmountThe Community Foundation for Greater New Haven $16,372The Community Foundation for Greater New Haven $15,427The Community Foundation for Greater New Haven $15,799
Third Highest Funding Source & Dollar AmountAlexion Pharmaceuticals $15,000Alexion Pharmaceuticals $15,000The Watershed Fund - Regional Water Authority $10,250
Solvency
Short Term Solvency
Fiscal Year201620152014
Current Ratio: Current Assets/Current Liabilities1.201.190.86
Long Term Solvency
Fiscal Year201620152014
Long-Term Liabilities/Total Assets0%0%0%
Capitial Campaign
Currently in a Capital Campaign? No
Comments
Foundation Staff Comments

This organization receives designated funds from The Community Foundation for Greater New Haven and has completed an abbreviated profile. 

This profile, including the financial summaries prepared and submitted by the organization based on its own independent and/or internal audit processes and regulatory submissions, has been read by the Foundation. Financial information is inputted by Foundation staff directly from the organization’s IRS Form 990, audited financial statements or other financial documents approved by the nonprofit’s board. The Foundation has not audited the organization’s financial statements or tax filings, and makes no representations or warranties thereon. The Community Foundation is continuing to receive information submitted by the organization and may periodically update the organization’s profile to reflect the most current financial and other information available. The organization has completed the fields required by The Community Foundation and updated their profile in the last year. To see if the organization has received a competitive grant from The Community Foundation in the last five years, please go to the General Information Tab of the profile.
Address 900 Chapel St
10th Floor
New Haven, CT 06510
Primary Phone 203 787-6735
Contact Email jnorton@gnhcc.com
CEO/Executive Director Anthony Rescigno
Board Chair Mr. Larry Bingaman
Board Chair Company Affiliation South Central Connecticut Regional Water Authority

 

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