Fdic INC FY2021 filing

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EIN 06-1444270 Mutual-benefit / member-serving Stratford, CT
Form 990 (PDF)

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Revenue & expenses by yearFY2020–FY2025
Revenue
$58K
FY2021▼ -28%
Expenses
$27K
FY2021▼ -29%

Form 990 for the fiscal year ending December 2021 (IRS tax year 2021).


Fdic INC is a member-serving organization based in Stratford, CT, formed in 1950. For fiscal year 2021 it reported $58K in revenue, $27K in expenses, and $80K in net assets.Pt I

Founded
1950
Type
Mutual-benefit / member-serving · Nonprofit
Location
Stratford, CT
Filings
6 on file (2020–2021)
Revenue
$58KFY2021
Expenses
$27K
Net assets
$80K
People
8
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Provided by the organization

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Size
<$100K
What they do
a member-serving organization
Leadership
Ward F Gowing · President
Money in and out
$58K revenue, $27K expenses
Bottom line
+54% surplus margin

What Funders Ask

6 questions, answered from this org's own filings

Will my donation be tax-deductible?

WARNING

No — not deductible

IRS records this as a A social or recreational club.; contributions are not deductible as charitable gifts. See detail →

Can I donate to this org right now?

GOOD

No revocation on IRS record

This EIN does not appear on the IRS auto-revocation list. See detail →

Is this organization up to date?

GOOD

Yes — filed FY2025

Most recent Form 990 on file is for fiscal year 2025 (1 year ago). See detail →

Is it receiving grants from reputable foundations?

NEUTRAL

No foundation grants on file

No Schedule I/Schedule R grants from other foundations are on file for this EIN. See detail →

How is the money spent?

GOOD

100% to programs

100% of total functional expenses went to program services in the most recent filing (Form 990 Part IX); the rest is overhead and fundraising. See detail →

What's its financial size and trend?

NEUTRAL

<$100K · ↓ -28% vs prior year

Revenue band <$100K, -28% versus the prior filing year (down). See detail →

Reported financial activity · FY2021
Total revenue
$58K
Pt VIII · Ln 12
Total expenses
$27K
Pt IX · Ln 25
Net assets
$80K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $31K
Where spending went · Part IX cols B–D
Program services $1.00
Surplus margin
+54%
revenue over expenses, this year
Program spending
100%
of expenses reach programs

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Summary of the Filing

Part I · fiscal year 2021 · Form 990
Total assets
$80K
FY2021▲ +64%
Total liabilities
$0
FY2021
Revenue less expensesPt I · Ln 19$31K
Total assetsPt X · Ln 16$80K
Program-expense ratioPt IX · col B100%
Voting members of governing bodyPt I · Ln 38
Independent voting membersPt I · Ln 48

Identity & Classification

Form 990 Header · IRS Business Master File
Legal name (IRS)Hdr · item CFdic INC
EINHdr · item D06-1444270
Principal addressHdr · item CStratford, CT
WebsiteHdr · item Jnone reported
Year of formationHdr · item L1950
State of legal domicileHdr · item MCT
Exempt statusHdr · item I501(c)(7) · active
NTEE classificationIRS BMFNonprofit
Ruling yearIRS BMFJul 1997

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a8
Independent voting membersPt VI · Ln 1b8
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Investment income$47K · 81%
Contributions & grants$10K · 17%
Other revenue$1K · 2%
Investment income81%$47K
Contributions & grants17%$10K
Other revenue2%$1K
Total revenueLn 12$58K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $1.00
Program services100%$27K
Total functional expensesLn 25$27K

Balance Sheet

Part X · end of year
CashLn 1$8K
Total assetsLn 16$80K
Total liabilitiesLn 26$0
Total net assetsLn 32$80K
Months of cash on handcomputed3.8

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $8K · Operating expenses/yr $27K
3.8 months
Where the money goes
Program services
Program services $27K · Total expenses $27K
100%
Management & General
Management & general $0 · Total expenses $27K
0%
Fundraising
Fundraising $0 · Total expenses $27K
0%
Cost to raise $1
Fundraising expense (2-yr avg) $0 · Solicited contributions (2-yr avg) $10K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $10K · Total revenue $58K
17%
Government reliance
Government grants — · Total revenue $58K
—
Earned-income share
Program service revenue $0 · Total revenue $58K
0%
Investment reliance
Investment income $47K · Total revenue $58K
+81%
Program self-sufficiency
Program service revenue $0 · Total expenses $27K
0%
Growth & trend
Revenue growth (YoY)
This year $58K · Prior year $81K
-28%
Net-asset trend (YoY)
End of year $80K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $58K · Expenses $27K
+54%
Liabilities-to-Assets
Total liabilities — · Total assets $80K
—
Net-asset ratio
Net assets $80K · Total assets $80K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $80K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Ward F Gowing · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $27K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $27K
—
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 100%——
Overhead ratio 0%——
Fundraising cost ratio 0%——
Revenue growth -28%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$26K revenue · ⤓ 990 PDF
FY2024$26K revenue · ⤓ 990 PDF
FY2023$45K revenue · ⤓ 990 PDF
FY2022$50K revenue · ⤓ 990 PDF
FY2021$58K revenue · viewing · ⤓ 990 PDF
FY2020$81K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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