Derby Community Endowment
253-A Elizabeth Street
Derby CT 06418-9053
Contact Information
Address 253-A Elizabeth Street
Derby, CT 06418-9053
Telephone (203) 751 x9162
Fax 203-751-9162
E-mail DerbyCommunityEndowment@gmail.com
Web and Social Media
Downtown Derby, Connecticut
Mission
The Derby Community Endowment will help fund educational improvements and beautification projects to improve the Derby community.
 
A component fund of The Valley Community Foundation, the Derby Community Endowment is a permanent endowment focusing exclusively on the needs of and the opportunities for Derby.
At A Glance
Year of Incorporation 2012
Leadership
CEO/Executive Director *See Comments field
Board Chair Mark Nichols
Board Chair Company Affiliation NA
Financial Summary
 
Projected Revenue $1,500.00
Projected Expenses $0.00
Statements
Mission
The Derby Community Endowment will help fund educational improvements and beautification projects to improve the Derby community.
 
A component fund of The Valley Community Foundation, the Derby Community Endowment is a permanent endowment focusing exclusively on the needs of and the opportunities for Derby.
Background
In 2011 a group of forward-thinking elected officials and active residents in Derby began talking about how to best support Derby in the long-term. The Derby Community Endowment Fund was created as a result. It was officially established on March 23, 2012 with an agreement between the City of Derby and the Valley Community Foundation. By the end of 2013 the fund had reached the $10,000 minimum requirement to begin disbursements in order to benefit its 3 core areas:
1) Scholarships or awards for Derby students
2) Non-recurring educational expenses, and
3) Beautification or capital projects
The Derby Community Endowment fund does not have any administrative costs or paid staff. There is only a yearly fund management cost which is less than 1% of the value of the fund paid to The Community Foundation for Greater New Haven.
Impact

The endowment will improve the community, impacting individuals, physical surroundings, and perceptions of Derby. It will make Derby an even better place to live.

In 2014 we received our first disbursement from the fund. With this money and other donations we have:
- Supported an after-school robotics program at Irving elementary
- Help buy percussion instruments for a class at Bradley elementary 
- Will be granting awards to 2 graduating seniors who show a commitment to service
- Planted lilacs at the Ed Cotter memorial at O'Sullivan Island
Needs
An endowment fund thrives through the growth of its principal and investments. The primary way to increase the impact of the Fund on the 3 pillars it's supporting in Derby is through growing the principal via monetary donations. Donations can be made in three ways: 
 
1) Online through this profile
2) Online at the Valley Community Foundation website, www.ValleyFoundation.org. Click "Donate Online" and fill out the form making sure to choose the Derby Community Endowment Fund.
3) Write a check made out to "Valley Community Foundation" with "DCE" in the memo line. Mail it to 253-A Elizabeth Street, Derby, CT 06418
Board Chair Statement
From Mark Nichols, one of the fund's organizers:
 
"Simply put, this Fund was created to make Derby an even better place to live. An endowment fund is such a great idea because a gift in one year can end up impacting the community every year thereafter. It's the gift that keeps on giving. This Endowment Fund should help produce a sense of pride in Derby. Those who want to make a lasting gift to the community can do so through this Fund, which will positively impact our students, our schools, and our entire community. It is our hope that the existence of the Derby Community Endowment Fund could even help to increase local property values.... Eventually, we anticipate that this Fund will become a way to advertise Derby as a community that truly cares, and that has its house in order."
Service Categories
Primary Organization Category Philanthropy,Voluntarism & Grantmaking Foundations / Community Foundations
Areas Served
Derby
Programs
Description Every year money will be disbursed to a Derby student or students via the Derby, CT board of education scholarship committee.
Population Served / /
Description Each year a disbursement will support a non-recurring expense or program that will benefit Derby, CT students.
Population Served / /
Description Beautification or capital projects in Derby, CT that otherwise would not be funded will be supported through a yearly disbursement from the Derby Community Endowment.
Population Served / /
Program Comments
Foundation Comments A component fund of The Valley Community Foundation, the Derby Community Endowment is a permanent endowment focusing exclusively on the needs and opportunities for Derby.
CEO/Executive Director
*See Comments field
Term Start Mar 2012
Email DerbyCommunityEndowment@gmail.com
Staff
Number of Full Time Staff 0
Number of Part Time Staff 0
Number of Volunteers 10
Number of Contract Staff 0
Staff Retention Rate 0%
Staff Demographics - Ethnicity
African American/Black 0
Asian American/Pacific Islander 0
Caucasian 0
Hispanic/Latino 0
Native American/American Indian 0
Other 0 0
Staff Demographics - Gender
Male 0
Female 0
Unspecified 0
Comments
CEO Comments
As a fund of the Valley Community Foundation, which is affiliated with the Community Foundation for Greater New Haven, we have an all-volunteer group that dedicates their time to fundraising and making sure funds are allocated appropriately. For more details please see the Governance page or email DerbyCommunityEndowment@gmail.com.
 
A component fund of The Valley Community Foundation, the Derby Community Endowment is a permanent endowment focusing exclusively on the needs and opportunities for Derby.
 
Board Chair
Mark Nichols
Company Affiliation NA
Term Mar 2012 to Mar 2021
Board of Directors
NameAffiliation
Nelson Cummings
Timothy Smith
Board Demographics - Ethnicity
African American/Black 0
Asian American/Pacific Islander 0
Caucasian 3
Hispanic/Latino 0
Native American/American Indian 0
Other 0 0
Board Demographics - Gender
Male 3
Female 0
Governance
Written Conflict of Interest Policy No
Percentage Making Monetary Contributions 67%
Percentage Making In-Kind Contributions 100%
CEO Comments
Questions about governance can be directed to Mark Nichols via the email DerbyCommunityEndowment@gmail.com.
 
A component fund of The Valley Community Foundation, the Derby Community Endowment is a permanent endowment focusing exclusively on the needs and opportunities for Derby.
 
 
Financials
Fiscal Year Start Jan 01 2016
Fiscal Year End Dec 31 2016
Projected Revenue $1,500.00
Projected Expenses $0.00
Spending Policy Percentage
Percentage (if selected) 4%
Credit Line No
Reserve Fund No
Detailed Financials
Prior Three Years Revenue Sources ChartHelpThe financial analysis involves a comparison of the IRS Form 990 and the audit report (when available) and revenue sources may not sum to total based on reconciliation differences. Revenue from foundations and corporations may include individual contributions when not itemized separately.
Fiscal Year201420132012
Foundation and
Corporation Contributions
$1,829,036$1,832,370$1,909,808
Government Contributions$0$0$0
Federal------
State------
Local------
Unspecified------
Individual Contributions------
------
------
Investment Income, Net of Losses$1,196,765$1,419,507$668,182
Membership Dues------
Special Events------
Revenue In-Kind------
Other------
Prior Three Years Expense Allocations Chart
Fiscal Year201420132012
Program Expense$1,559,053$1,708,914$1,388,356
Administration Expense$107,761$83,381$76,246
Fundraising Expense$188,588$138,969$127,078
Payments to Affiliates------
Total Revenue/Total Expenses1.631.681.62
Program Expense/Total Expenses84%88%87%
Fundraising Expense/Contributed Revenue10%8%7%
Prior Three Years Assets and Liabilities Chart
Fiscal Year201420132012
Total Assets$19,468,383$17,755,188$15,284,062
Current Assets$725,041$3,635$6,102
Long-Term Liabilities------
Current Liabilities$268,451$271,545$365,389
Total Net Assets$19,199,932$17,483,643$14,918,673
Prior Three Years Top Three Funding Sources
Fiscal Year201420132012
Top Funding Source & Dollar Amount -- -- --
Second Highest Funding Source & Dollar Amount -- -- --
Third Highest Funding Source & Dollar Amount -- -- --
Solvency
Short Term Solvency
Fiscal Year201420132012
Current Ratio: Current Assets/Current Liabilities2.700.010.02
Long Term Solvency
Fiscal Year201420132012
Long-Term Liabilities/Total Assets0%0%0%
Capitial Campaign
Currently in a Capital Campaign? No
Capital Campaign Anticipated in Next 5 Years? No
Comments
CEO Comments
The percent disbursed from the endowment fund each year is set by the board of the Valley Community Foundation, minus 1%. It is guided by the average yearly return over the prior 20 quarters.
 
Fundraising costs are covered through volunteers and businesses that donate for that specific purpose and are not covered by withdrawals from the endowment.
 
The endowment value shown is as of April 2015. 
 
The income projections of $4,000 are for possible donations to receive this year; a portion of this has already been met. The $80 projected expenses is about the amount we'll be charged for investment manager fees and administration.
 
Any questions can be sent to DerbyCommunityEndowment@gmail.com.
Foundation Staff Comments The financials listed on this page are that of The Valley Community Foundation, of which the Derby Community Endowment is a part. For more information about The Valley Community Foundation, please visit its profile on giveGreater.org.
Address 253-A Elizabeth Street
Derby, CT 064189053
Primary Phone 203 751 9162
CEO/Executive Director *See Comments field
Board Chair Mark Nichols
Board Chair Company Affiliation NA

 

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