NFA FOUNDATION INC Charity Report

Public nonprofit record

NFA FOUNDATION INC

EIN 22-2678033 · Public Foundations (T30)

What they do

THE NFA FOUNDATION ADVANCES OPPORTUNITIES AT NORWICH FREE ACADEMY BY SOLICITING, ACCEPTING, and PRUDENTLY MANAGING DONATED and ENDOWED FUNDS. THE FOUNDATION ACTIVELY BUILDS AWARENESS, ENGAGES ALUMNI, NURTURES RELATIONSHIPS, and DEVELOPS PARTNERSHIPS to BENEFIT THE ACADEMYS STUDENTS, FACULTY, and STAFF.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

Money in and money out

Revenue$4,600,603

Expenses$3,937,824

Annual surplus $662,779 Revenue was higher than expenses for this filing year.

Selected spending reported on the 990

Each amount is compared with total expenses separately. These categories can overlap, so they should not be added together as a pie chart.

Management and general$353,591 · 9.0% of expenses

Grants paid$29,522,126 · 749.7% of expenses

This source amount exceeds total expenses; compare the filing details carefully.

Reported executive compensation (total)$120,677 · 3.1% of expenses

Revenue$4,600,603

Expenses$3,937,824

Assets$92,282,022

Income$11,237,179

Contributions$1,083,124

Grants given$29,522,126

Average grant$3,690,266

Management and general$353,591

Executive compensation (total)$120,677

Stocks and bonds$77,425,733

Accounting fees$47,576

Investing fees$61,854

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

KATHLEEN MCCARTHYEXECUTIVE DIRECTOR · 40 hrs/week $181,533Base $130,078 · Other $51,455

RICHARD FREEMANDIRECTOR OF FINANCE (UNTIL 03/25) · 5 hrs/week $44,915Base · Other $44,915

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (15)

KATHLEEN MCCARTHYEXECUTIVE DIRECTOR

RICHARD FREEMANDIRECTOR OF FINANCE (UNTIL 03/25)

ALLYN L BROWN IIIDIRECTOR

B MICHAEL RAUH JRDIRECTOR (UNTIL 11/24)

CHERYL RITACCOSECRETARY AND DIRECTOR

DANIEL KINGDIRECTOR

DENISE LINDELLDIRECTOR

DEVOL S JOYNERDIRECTOR

DIANA BOISCLAIRVICE PRESIDENT AND DIRECTOR

KEITH FONTAINEDIRECTOR (AS OF 11/24)

MARIA MIRNADADIRECTOR

MARK TRAMONTOZZIPRESIDENT AND DIRECTOR

MARK D WOODSTREASURER AND DIRECTOR

THOMAS HAMMONDDIRECTOR (UNTIL 5/25)

TODD POSTLERDIRECTOR

About this charity

Recognized since: January 1986
Location: 321 BROADWAY, NORWICH, CT 063603547
County: New London
In care of: KATHLEEN MCCARTHY
Primary officer: KATHLEEN MCCARTHY, EXECUTIVE DIRECTOR

How to reach them

WebsiteVisit the charity’s website Phone8608872505

Filing and classification

Latest tax year: 2024
Tax period began: July 1, 2024
Return type: 990
Tax preparer: CLIFTONLARSONALLEN
NTEE classification: Public Foundations (T30)
IRS tax category: Public Foundations
Grant-giving organization: Yes

More public IRS record details

These are classification codes from the organization’s public nonprofit record.

Subsection: 03
Affiliation: 3
Classification: 1000
Deductibility: 1
Foundation: 15
Activity: 927922602
Organization: 1

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