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Goodwin Foundation INC

Tax-deductible

East Hartford, CT501(c)(3)Since 2000EducationEIN 06-1599388Revenue $2.4M in FY2025

On file with the IRS1 Riverside Dr, 06118-1837 · East Hartford, CTTax-exempt since Jan 2001Publicly supported — 509(a)(2)

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The Goodwin Foundation supports the mission of Goodwin university to extend educational opportunities to underserved populations by fundraising for scholarships and other initiatives. With the guidance of an independent board of directors, the Foundation identifies key strategic fundraising goals and cultivates donors through major giving, annual fund, and alumni giving campaigns.through a coordinated plan of institutional giving and scholarships, the Foundation supports educational access for a wide range of students, including the over half of Goodwin students who are first generation college students. The Foundation seeks to support those students who have both an acute financial need, and have demonstrated the desire to achieve academic success.funds raised by the Foundation also support specific initiatives targeted at closing the educational achievement gap, including the men of vision in education (move) and women invested in seeking education (wise).

501(c)(3) charity; gifts are tax-deductible.
96¢ of each $1 spent went to programs.
Run by 9 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $561K a year · 30% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
96%
of spending
Looks good: 96% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
10 mo
of spending, in cash
Looks good: 9.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $8K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$6.3M
33% of total assets
Looks good: liabilities are 33% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 12 voting members
Looks good: 9 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.4M
+37% vs prior year
Spent
$2.5M
To programs
96%
Net assets
$12.9M
By yearFY2021–FY2025
Revenue
$2.4M
FY2025▲ +37%
Tap a bar for its year
Revenue by fiscal year
FY2021$1.1M
FY2022$1.5M
FY2023$2.7M
FY2024$1.7M
FY2025$2.4M
Expenses
$2.5M
FY2025▲ +87%
Tap a bar for its year
Expenses by fiscal year
FY2021$1.0M
FY2022$857K
FY2023$835K
FY2024$1.4M
FY2025$2.5M
Net assets
$12.9M
FY2025+0.4%
Tap a bar for its year
Net assets by fiscal year
FY2021$11.2M
FY2022$9.3M
FY2023$11.8M
FY2024$12.8M
FY2025$12.9M

From the FY2025 Form 990 (year ending June 2025) · figures checked against the IRS filing · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jan 2001.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

96 cents of each dollar spent went to programs.

Program services 96% · $2.4M Management & general 3% · $88K Fundraising 0% · $4K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

12 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Andrews Todd
Director/Senior VP
$0Pt VII · Sec A
Foxman Ethan
President
$0Pt VII · Sec A
Housley Lee
Director
$0Pt VII · Sec A
Kaplan Ted
Director
$0Pt VII · Sec A
Louden Molly
Director
$0Pt VII · Sec A
Maffee Jay
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Meyer JR Edwin
Director/CFO/VP Finance
$0Pt VII · Sec A
See Goodwin Foundation INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Funds scholarships and initiatives to expand educational opportunities for underserved students.

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Provided by the organization

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1 program · $2.4M · in their own filed words · FY2024
01

Through a coordinated plan of institutional giving and scholarships, the foundation supports educational access for a wide range of students, including the over half of goodwin students who are first generation college students.

$2.4Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Fidelity Investments Charitable Gift FundFY2024$8K
Total grants receivedfrom 1 funder$8K
Grants paid · 3 grants · $3.5M · 2022–2024
Goodwin University INCCT · FY2024$1,932,379
Goodwin University INCCT · FY2023$973,139
Goodwin University INCCT · FY2022$566,483

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.4M
Ln 12
Investment incomeLn 3$1.7M
Gifts and grantsLn 1h$813K
Money outPt IX
$2.5M
Ln 25
Programscol B$2.4M
Managementcol C$88K
Fundraisingcol D$4K
Owns and owesPt X
$12.9M
net assets · Ln 32
Cash and savingsLn 1–2$2.0M
Total assetsLn 16$19.1M
LiabilitiesLn 26$6.3M
PeoplePt VI, VII
12
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$813K
Fundraising eventsLn 1c$229K
Investment incomeLn 3$1.7M
Gains on assetsLn 7$969K
Total revenueLn 12$2.4M
Assets in detailPt X, end of year
CashLn 1$24K
SavingsLn 2$2.0M
Cash and savings togetherLn 1–2$2.0M
InvestmentsLn 11–13$17.0M
Total assetsLn 16$19.1M
LiabilitiesLn 26$6.3M
Net assetsLn 32$12.9M
OperationsPt I, VI
EmployeesI 50
VolunteersI 69
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$1.4M$2.0M
InvestmentsLn 11–13$15.2M$17.0M
Total assetsLn 16$16.9M$19.1M
LiabilitiesLn 26$4.1M$6.3M
Net assetsLn 32$12.8M$12.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$1.9M$1.9M
Management feesLn 11a$457K$457K
Accounting feesLn 11c$5K$5K
Investment management feesLn 11f$88K$88K
Other fees for servicesLn 11g$1K$1K
Advertising and promotionLn 12$6K$6K
Office expensesLn 13$11K$11K
TravelLn 17$896$896
Conferences, conventions and meetingsLn 19$10K$10K
Other expenses (24a–d)Ln 24$13K$8K$4K
Total functional expensesLn 25$2.5M$2.4M$88K$4K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $2.4M$2.5M−$159K$12.9M 990 PDF
FY2024 $1.7M$1.4M$377K$12.8M 990 PDF
FY2023 $2.7M$835K$1.9M$11.8M 990 PDF
FY2022 $1.5M$857K$615K$9.3M 990 PDF
FY2021 $1.1M$1.0M$77K$11.2M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $2,365,063 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $644,736$813,121
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $1,112,440$1,679,307
I-11 Other revenuePrior year −$28,429−$127,365
I-12 Total revenuePrior year $1,728,747$2,365,063
I-13 Grants and similar amounts paidPrior year $973,139$1,932,379
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $378,630$591,715
I-18 Total expensesPrior year $1,351,769$2,524,094
I-19 Revenue less expensesPrior year $376,978−$159,031
Part VI · Governance 9 of 12 board members independent, 2 to look at
VI-1a Voting members of the governing body12
VI-1b Independent voting members9
VI-2 Family or business relationship among officers or directorsYes
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $2,365,063 across 7 lines filed
VIII-1c Fundraising events$229,387
VIII-1f All other contributions, gifts and grants$583,734
VIII-1h Total contributions, gifts and grants$813,121
VIII-3 Investment incomeExcluded from tax $710,784$710,784
VIII-7 Net gain or loss on sales of assetsExcluded from tax $968,523$968,523
VIII-8 Net income from fundraising eventsExcluded from tax −$127,365−$127,365
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $1,551,942$2,365,063
Part IX · Statement of functional expenses $2,524,094 across 10 lines filed
IX-1 Grants to domestic organizationsPrograms $1,932,379$1,932,379
IX-11a Management feesPrograms $457,246$457,246
IX-11c Accounting feesPrograms $4,562$4,562
IX-11f Investment management feesManagement $88,052$88,052
IX-11g Other fees for servicesPrograms $1,086$1,086
IX-12 Advertising and promotionPrograms $6,099$6,099
IX-13 Office expensesPrograms $11,139$11,139
IX-17 TravelPrograms $896$896
IX-19 Conferences, conventions and meetingsPrograms $9,792$9,792
IX-24 Other expenses (24a–d)Programs $8,497 · Fundraising $4,346$12,843
IX-25 Total functional expensesPrograms $2,431,696 · Management $88,052 · Fundraising $4,346$2,524,094
Part X · Balance sheet $19,129,937 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $62,788$23,541
X-2 Savings and temporary cash investmentsStart of year $1,355,030$2,002,752
X-3 Pledges and grants receivableStart of year $226,972$125,092
X-4 Accounts receivableStart of year $21,680$5,207
X-9 Prepaid expenses and deferred chargesStart of year $2,441$10,382
X-11 Publicly traded securitiesStart of year $15,232,666$16,962,963
X-16 Total assetsStart of year $16,901,577$19,129,937
X-17 Accounts payable and accrued expensesStart of year $6,336$4,882
X-25 Other liabilitiesStart of year $4,083,482$6,258,354
X-26 Total liabilitiesStart of year $4,089,818$6,263,236
X-27 Net assets without donor restrictionsStart of year $9,196,646$8,433,881
X-28 Net assets with donor restrictionsStart of year $3,615,113$4,432,820
X-32 Total net assets or fund balancesStart of year $12,811,759$12,866,701
X-33 Total liabilities and net assetsStart of year $16,901,577$19,129,937
Part XI · Reconciliation of net assets $12,866,701 net assets at year end
XI-1 Total revenue$2,365,063
XI-2 Total expenses$2,524,094
XI-3 Revenue less expenses−$159,031
XI-4 Net assets at start of year$12,811,759
XI-5 Net unrealized gains (losses) on investments$213,974
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$12,866,701

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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