Osterman Community Foundation EIN 20-2246985 Form 990 (PDF) Claim this org

Osterman Community Foundation FY2024 filing

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Offers financial aid to people facing difficult times. For fiscal year 2024 it reported $206K in revenue, $173K in expenses, and $491K in net assets.Pt I

Founded
2005
Type
Public foundation / grantmaker · Foundations & Grantmakers
Location
Cheshire, CT
Filings
5 on file (2021–2024)
Revenue
$206KFY2024
Expenses
$173K
Net assets
$491K
People
13
Filings
5
Updates
0
More identity details & actions ⌄
EIN  20-2246985 Public foundation / grantmaker Cheshire, CT Founded 2005
Form 990 (PDF)
You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →
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Size
$100K–1M
What they do
Offers financial aid to people facing difficult times.
Leadership
Kevin Lyons · Director
Money in and out
$206K revenue, $173K expenses
Bottom line
97% program efficiency
Grants paid & assets · FY2024
Total revenue
$206K
Pt VIII · Ln 12
Total expenses
$173K
Pt IX · Ln 25
Net assets
$491K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $33K
Where spending went · Part IX cols B–D
Program services $0.97 Management & general $0.03
Program efficiency
97%
of spending reaches programs
Operating runway
34.1mo
months of highly liquid reserves at operating expense rate
Surplus margin
+16%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$206K
FY2024▲ +15%
Expenses
$173K
FY2024▲ +22%
Total assets
$491K
FY2024▲ +7%
Total liabilities
$0
FY2024▼ -100%
Total revenue
$206K
Pt VIII · Ln 12
Total expenses
$173K
Pt IX · Ln 25
Net assets
$491K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$33K
Total assetsPt X · Ln 16$491K
Program-expense ratioPt IX · col B97%
Voting members of governing bodyPt I · Ln 313
Independent voting membersPt I · Ln 413
Mission & Programs · Part III

Where the work happens

3 program services account for $22K of program spending, described in the organization's own filed words · FY2024.
01

Southington community center

$8Kprogram expense
02

Amazing grace food pantry

$8Kprogram expense
03

Island grown initiative

$8Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item COsterman Community Foundation
EINHdr · item D20-2246985
Principal addressHdr · item CCheshire, CT
WebsiteHdr · item Jnone reported
Year of formationHdr · item L2005
State of legal domicileHdr · item MCT
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFFoundations & Grantmakers (T30)
Ruling yearIRS BMFNov 2005

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a13
Independent voting membersPt VI · Ln 1b13
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 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

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

Part VIII
Other revenue$107K · 52%
Contributions & grants$79K · 39%
Investment income$19K · 9%
Other revenue52%$107K
Contributions & grants39%$79K
Investment income9%$19K
— government grantsLn 1e$10K
Total revenueLn 12$206K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.97 Management & general $0.03
Program services97%$167K
Management & general3%$5K
Total functional expensesLn 25$173K

Balance Sheet

Part X · end of year
CashLn 1$491K
Total assetsLn 16$491K
Total liabilitiesLn 26$0
Total net assetsLn 32$491K
Months of cash on handcomputed34.1

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $491K · Operating expenses/yr $173K
34.1 months
Where the money goes
Program services
Program services $167K · Total expenses $173K
97%
Management & General
Management & general $5K · Total expenses $173K
3%
Fundraising
Fundraising $0 · Total expenses $173K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $44K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $79K · Total revenue $206K
39%
Government reliance
Government grants $10K · Total revenue $206K
5%
Earned-income share
Program service revenue $0 · Total revenue $206K
0%
Investment reliance
Investment income $19K · Total revenue $206K
+9%
Program self-sufficiency
Program service revenue $0 · Total expenses $173K
0%
Growth & trend
Revenue growth (YoY)
This year $206K · Prior year $179K
+15%
Net-asset trend (YoY)
End of year $491K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $206K · Expenses $173K
+16%
Liabilities-to-Assets
Total liabilities — · Total assets $491K
Net-asset ratio
Net assets $491K · Total assets $491K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $491K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Kevin Lyons · Reported title DIRECTOR · Highest reported compensation $0 · Total expenses $173K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $173K
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 97%
Overhead ratio 3%
Fundraising cost ratio 0%
Revenue growth 15%

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.

Grants

Schedule I · received and paid
Grants received · FY2023
Total grants receivedfrom 2 funders$11K
Grants paid · 2 grants · $366K · 2024–2025
Unitemized GrantFY2025$226,311
Unitemized GrantFY2024$139,485

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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)$194K revenue · ⤓ 990 PDF
FY2024$206K revenue · viewing · ⤓ 990 PDF
FY2023$179K revenue · ⤓ 990 PDF
FY2022$153K revenue · ⤓ 990 PDF
FY2021$142K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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