Rockville Bank Foundation Connecticut Inc
Rockville Bank Foundation maintains substantial assets despite fluctuating revenue and consistent zero executive compensation.
EIN: 203000295 · Vernon, CT · NTEE: S20 · Updated: 2026-03-28
Is Rockville Bank Foundation Connecticut Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Rockville Bank Foundation Connecticut Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Rockville Bank Foundation Connecticut Inc
Rockville Bank Foundation Connecticut Inc (EIN: 203000295) is a nonprofit organization based in Vernon, CT, classified under NTEE code S20. The organization reported total revenue of $2.6M and total assets of $11.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Rockville Bank Foundation Connecticut Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Rockville Bank Foundation Connecticut Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Rockville Bank Foundation Connecticut Inc allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no funds are allocated to executive salaries, which is highly commendable for a foundation of its size.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Rockville Bank Foundation Connecticut Inc's IRS 990 filings:
- Frequent periods where expenses exceed revenue, potentially indicating reliance on asset drawdowns.
Strengths
The following positive indicators were identified for Rockville Bank Foundation Connecticut Inc:
- Consistent zero officer compensation, demonstrating high financial integrity.
- Substantial and growing asset base ($11,359,625 latest), providing financial stability.
- Strong program focus implied by zero fundraising and administrative compensation.
Frequently Asked Questions about Rockville Bank Foundation Connecticut Inc
Is Rockville Bank Foundation Connecticut Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Rockville Bank Foundation Connecticut Inc (EIN: 203000295) some concerns. Mission Score: 85/100. 1 red flag identified, 3 strengths noted.
How does Rockville Bank Foundation Connecticut Inc spend its money?
Rockville Bank Foundation Connecticut Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Rockville Bank Foundation Connecticut Inc tax-deductible?
Rockville Bank Foundation Connecticut Inc is registered as a tax-exempt nonprofit (EIN: 203000295). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Rockville Bank Foundation Connecticut Inc a good charity?
Based on the available data, the foundation appears to be a good charity, primarily due to its strong asset base ($11.3 million), consistent zero executive compensation, and clear focus on its mission without significant overhead for salaries.
How does the foundation sustain itself with expenses often exceeding revenue?
The foundation likely sustains itself by drawing from its substantial asset base, which has consistently been over $8 million and currently stands at $11,359,625. This allows it to cover expenses even in years with lower revenue.
What is the trend in the foundation's assets?
The foundation's assets have shown growth over the long term, increasing from $8,812,815 in 2011 to $10,947,062 in 2023, with a peak of $11,806,270 in 2021, indicating sound financial management of its endowment.
Filing History
IRS 990 filing history for Rockville Bank Foundation Connecticut Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Rockville Bank Foundation Connecticut Inc's revenue has declined by 91.9%, moving from $5.2M to $422K. Total assets increased by 24.2% over the same period, from $8.8M to $10.9M. Total functional expenses fell by 16.5%, from $688K to $574K. In its most recent filing year (2023), Rockville Bank Foundation Connecticut Inc reported a deficit of $152K, with expenses exceeding revenue. The organization holds $240K in liabilities against $10.9M in assets (debt-to-asset ratio: 2.2%), resulting in net assets of $10.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $422K | $574K | $10.9M | $240K | — | — |
| 2022 | $2.2M | $579K | $10.0M | $191K | — | View 990 |
| 2021 | $931K | $210K | $11.8M | $96K | — | View 990 |
| 2020 | $331K | $106K | $9.7M | $7K | — | View 990 |
| 2019 | $351K | $573K | $9.9M | $5K | — | — |
| 2015 | $373K | $685K | $9.7M | $258K | — | View 990 |
| 2014 | $345K | $846K | $10.9M | $316K | — | View 990 |
| 2013 | $212K | $653K | $11.4M | $308K | — | View 990 |
| 2012 | $25K | $539K | $8.3M | $430K | — | View 990 |
| 2011 | $5.2M | $688K | $8.8M | $451K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $422K, expenses of $574K, and assets of $10.9M (revenue -80.8% year-over-year).
- 2022: Revenue of $2.2M, expenses of $579K, and assets of $10.0M (revenue +135.9% year-over-year).
- 2021: Revenue of $931K, expenses of $210K, and assets of $11.8M (revenue +181.2% year-over-year).
- 2020: Revenue of $331K, expenses of $106K, and assets of $9.7M (revenue -5.6% year-over-year).
- 2019: Revenue of $351K, expenses of $573K, and assets of $9.9M (revenue -6.0% year-over-year).
- 2015: Revenue of $373K, expenses of $685K, and assets of $9.7M (revenue +8.3% year-over-year).
- 2014: Revenue of $345K, expenses of $846K, and assets of $10.9M (revenue +62.4% year-over-year).
- 2013: Revenue of $212K, expenses of $653K, and assets of $11.4M (revenue +763.8% year-over-year).
- 2012: Revenue of $25K, expenses of $539K, and assets of $8.3M (revenue -99.5% year-over-year).
- 2011: Revenue of $5.2M, expenses of $688K, and assets of $8.8M.
Data Sources and Methodology
This transparency report for Rockville Bank Foundation Connecticut Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.