Savings Bank Of Danbury Foundation Inc
Savings Bank Of Danbury Foundation Inc shows strong asset growth and zero executive compensation.
EIN: 113709335 · Danbury, CT · NTEE: T22 · Updated: 2026-03-28
Is Savings Bank Of Danbury Foundation Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Savings Bank Of Danbury Foundation Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Savings Bank Of Danbury Foundation Inc
Savings Bank Of Danbury Foundation Inc (EIN: 113709335) is a nonprofit organization based in Danbury, CT, classified under NTEE code T22. The organization reported total revenue of $667K and total assets of $3.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Savings Bank Of Danbury Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Savings Bank Of Danbury Foundation Inc is a small nonprofit that has been operating for 22 years, with 9 years of IRS 990 filings on record (2011–2022). Revenue has grown at a compound annual rate of 34.8%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.4M |
| Total Expenses | $256K |
| Surplus / Deficit | +$1.1M |
| Total Assets | $3.1M |
| Total Liabilities | $1 |
| Net Assets | $3.1M |
| Operating Margin | 81.1% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 142.8 months |
Financial Health Grade: A
In 2022, Savings Bank Of Danbury Foundation Inc reported a surplus of $1.1M with revenue exceeding expenses, holds 142.8 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 9 years of filings (2011–2022), Savings Bank Of Danbury Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 34.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | +162.3% | +11.5% | +56.2% |
| 2021 | +90.0% | +3.3% | +17.2% |
| 2020 | +19.4% | +13.6% | +3.0% |
| 2019 | +56.2% | +24.2% | +15.5% |
| 2015 | -4.5% | +4.5% | -0.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2004 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Savings Bank Of Danbury Foundation Inc with a Mission Score of 95 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, Savings Bank Of Danbury Foundation 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.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $1.1M, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no executive salaries are paid, which is highly commendable for a nonprofit of its size and mission.
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.
Strengths
The following positive indicators were identified for Savings Bank Of Danbury Foundation Inc:
- Consistent asset growth, from $1.4M in 2011 to over $3M in 2022.
- Zero officer compensation reported across all filings, indicating high efficiency and dedication to mission.
- Minimal liabilities ($0 or $1) across all periods, demonstrating strong financial stability.
- Significant revenue growth, especially in 2022 ($1,354,361), enhancing capacity for impact.
- Low overall expenses relative to revenue, suggesting efficient operations for a foundation.
Frequently Asked Questions about Savings Bank Of Danbury Foundation Inc
Is Savings Bank Of Danbury Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Savings Bank Of Danbury Foundation Inc (EIN: 113709335) appears legitimate. Mission Score: 95/100. 0 red flags identified, 5 strengths noted.
How does Savings Bank Of Danbury Foundation Inc spend its money?
Savings Bank Of Danbury Foundation Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Savings Bank Of Danbury Foundation Inc tax-deductible?
Savings Bank Of Danbury Foundation Inc is registered as a tax-exempt nonprofit (EIN: 113709335). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Savings Bank Of Danbury Foundation Inc a good charity?
Based on the provided financial data, the Savings Bank Of Danbury Foundation Inc appears to be a very good charity. It demonstrates strong financial health with growing assets, minimal liabilities, and a consistent record of zero officer compensation, suggesting a high dedication to its mission.
How has the foundation's financial health changed over time?
The foundation's financial health has significantly improved over time. Assets have more than doubled from $1,402,271 in 2011 to $3,051,366 in 2022, and revenue has seen substantial growth, particularly in 2022 reaching $1,354,361.
What is the organization's approach to executive compensation?
The organization's approach to executive compensation is highly conservative, reporting 0% officer compensation in all available filings. This indicates that executive leadership is either unpaid or compensated through other means not classified as officer compensation, allowing more funds to be directed to programs.
Filing History
IRS 990 filing history for Savings Bank Of Danbury Foundation Inc showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2011–2022), Savings Bank Of Danbury Foundation Inc's revenue has grown by 2560.7%, moving from $51K to $1.4M. Total assets increased by 117.6% over the same period, from $1.4M to $3.1M. Total functional expenses rose by 90.7%, from $134K to $256K. In its most recent filing year (2022), Savings Bank Of Danbury Foundation Inc reported a surplus of $1.1M, with revenue exceeding expenses. The organization holds $1 in liabilities against $3.1M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $3.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $1.4M | $256K | $3.1M | $1 | — | View 990 |
| 2021 | $516K | $230K | $2.0M | $1 | — | View 990 |
| 2020 | $272K | $223K | $1.7M | $1 | — | View 990 |
| 2019 | $228K | $196K | $1.6M | $1 | — | — |
| 2015 | $146K | $158K | $1.4M | $0 | — | View 990 |
| 2014 | $153K | $151K | $1.4M | $0 | — | View 990 |
| 2013 | $95K | $143K | $1.4M | $0 | — | View 990 |
| 2012 | $192K | $135K | $1.5M | $0 | — | View 990 |
| 2011 | $51K | $134K | $1.4M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $1.4M, expenses of $256K, and assets of $3.1M (revenue +162.3% year-over-year).
- 2021: Revenue of $516K, expenses of $230K, and assets of $2.0M (revenue +90.0% year-over-year).
- 2020: Revenue of $272K, expenses of $223K, and assets of $1.7M (revenue +19.4% year-over-year).
- 2019: Revenue of $228K, expenses of $196K, and assets of $1.6M (revenue +56.2% year-over-year).
- 2015: Revenue of $146K, expenses of $158K, and assets of $1.4M (revenue -4.5% year-over-year).
- 2014: Revenue of $153K, expenses of $151K, and assets of $1.4M (revenue +61.0% year-over-year).
- 2013: Revenue of $95K, expenses of $143K, and assets of $1.4M (revenue -50.7% year-over-year).
- 2012: Revenue of $192K, expenses of $135K, and assets of $1.5M (revenue +277.8% year-over-year).
- 2011: Revenue of $51K, expenses of $134K, and assets of $1.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Savings Bank Of Danbury Foundation Inc:
Data Sources and Methodology
This transparency report for Savings Bank Of Danbury Foundation 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.