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Nonprofit · EIN 23-7354328

CCSU FOUNDATION INC

Tax-exempt · NEW BRITAIN, CT 06050

Financials

$7.6M$5M2023$12.7M$5.9M2024
Revenue Expenses · by fiscal year end
Financials of CCSU FOUNDATION INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
June 30, 2025990$12,702,767$5,899,163$6,803,604$110,056,247$478,611$109,577,636
June 30, 2024990$7,649,091$5,008,544$2,640,547$102,355,827$1,891,739$100,464,088
Financial details: 990 for the year ended June 30, 2025

Revenue

Contributions, gifts and grants
$3,889,775
Program service revenue
$212,396
Investment income
$8,748,638
Net gain from sales of assets
$1,749,335
Net income from fundraising events
-$148,055
Other revenue
-$148,042

Expenses

Grants and similar amounts paid
$4,064,418
Salaries, compensation and benefits (total)
$0
Professional fundraising fees
$0
Legal fees
$75,802
Accounting fees
$231,897
Travel
$334,016
Program services (functional)
$4,748,826
Management and general (functional)
$1,150,337

Balance sheet and other

Total assets, start of year
$102,355,827
Total assets, end of year
$110,056,247
Total liabilities, end of year
$478,611
Net assets, end of year
$109,577,636
Land, buildings and equipment
$532,266
Publicly traded securities
$105,692,985
Net assets without donor restrictions
$3,057,703
Net assets with donor restrictions
$106,519,933
Gross receipts
$42,311,496
Employees
0
Volunteers
14
Year formed
1974
State of legal domicile
CT

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended June 30, 2025, highest compensation first.

NameTitleHours / weekCompensation
ALEXANDER LEEDIRECTOR
Trustee or director
1.5$0
ANTHONY S TORSIELLODIRECTOR
Trustee or director
0.5$0
CURTIS WIGGINSDIRECTOR
Trustee or director
1.5$0
ED VESCOVIDIRECTOR
Trustee or director
0.5$0
JANET NAHORNEYDIRECTOR
Trustee or director
1.5$0
JOSEPH MATTHEW JRDIRECTOR
Trustee or director
1.5$0
KRISTINE LARSENDIRECTOR
Trustee or director
0.5$0
LYNN TINKERDIRECTOR
Trustee or director
0.5$0
MARIA FALVODIRECTOR
Trustee or director
0.5$0
RACHEL MULITREASURER
Trustee or director, Officer
2$0
RICHARD D DONOVANVICE CHAIR
Trustee or director, Officer
2$0
RICHARD SPADADIRECTOR
Trustee or director
0.5$0
ULULY MARTINEZCHAIR
Trustee or director, Officer
2$0
WALDEMAR KOSTRZEWAPAST CHAIR
Trustee or director
2$0
JENNIFER DESTEFANIEXECUTIVE DIRECTOR
Officer
4$0
990 for the year ended June 30, 2024: 17 people
NameTitleHours / weekCompensationFrom related orgsOther / benefits
JENNIFER DESTEFANIINTERIM EXCUTIVE DIRECTOR
Officer
4$0$41,152$8,933
ANABELLE DIAZ-SANTIAGODIRECTOR
Trustee or director
0.5$0$0$0
ANTHONY S TORSIELLODIRECTOR
Trustee or director
0.5$0$0$0
CHARLES JONES JRDIRECTOR
Trustee or director
0.5$0$0$0
CURTIS WIGGINSDIRECTOR
Trustee or director
0.5$0$0$0
JAMES NEALYDIRECTOR
Trustee or director
0.5$0$0$0
JANET NAHORNEYDIRECTOR
Trustee or director
0.5$0$0$0
JOSEPH MATTHEW JRDIRECTOR
Trustee or director
0.5$0$0$0
KRISTINE LARSENDIRECTOR
Trustee or director
0.5$0$0$0
MARC LENNONOUTGOING DIRECTOR
Trustee or director
0.5$0$0$0
MARIA FALVODIRECTOR
Trustee or director
0.5$0$0$0
RACHEL MULITREASURER
Trustee or director, Officer
2$0$0$0
RICHARD D DONOVANVICE CHAIR
Trustee or director, Officer
2$0$0$0
RICHARD SPADADIRECTOR
Trustee or director
0.5$0$0$0
ULULY MARTINEZCHAIR
Trustee or director, Officer
2$0$0$0
WALDERMAR KOSTRZEWAPAST CHAIR
Trustee or director, Officer
0.5$0$0$0
MICHAEL SHIPPAMOUTGOING EXECUTIVE DIRECTOR
Officer
4$0$0$0

Address and contacts

Address (IRS master file)
PO BOX 612, NEW BRITAIN, CT 06050-0612
In care of
% JENNIFER DESTEFANI
Principal officer (990 for 2024)
JENNIFER DESTEFANI, P O BOX 612, NEW BRITAIN, CT 06050
Signed the 990
JENNIFER DESTEFANI, EXECUTIVE DIRECTOR
Phone
(860) 832-0711
Return prepared by
COHNREZNICK ADVISORY LLC

Mission

THE CCSU FOUNDATION, INC. WAS CREATED IN 1971, AT THE REQUEST OF THE UNIVERSITY, AS A VEHICLE TO OBTAIN PRIVATE CONTRIBUTIONS TO SUPPORT EDUCATIONAL PROGRAMS AND RESEARCH AT CENTRAL CONNECTICUT STATE UNIVERSITY.

990 for the year ended June 30, 2025

Program accomplishments

  • STUDENT SUPPORT-SCHOLARSHIP FUNDS ARE ADMINISTERED BY THE ORGANIZATION IN ACCORDANCE WITH DONOR INTENT AND APPLICABLE IRS GUIDELINES.
    Expenses $2,703,606 · grants $2,665,046
  • AUXILIARY-TO ASSIST UNIVERSITY WITH SPECIAL AUXILIARY PROJECTS WHEN FUNDING WOULD NOT OTHERWISE BE AVAILABLE.
    Expenses $1,199,850 · grants $929,033
  • ACADEMIC ENRICHMENT-ASSIST UNIVERSITY WITH SPECIAL ACADEMIC ENRICHMENT PROGRAMS.
    Expenses $649,337 · grants $393,601
  • INSTITUTIONAL ENRICHMENT-ASSIST UNIVERSITY IN FUNDING SPECIAL INSTITUTIONAL ENRICHMENT PROJECTS WHEN FUNDING WOULD NOT OTHERWISE BE AVAILABLE.
    Expenses $196,033 · grants $76,738 · revenue $212,409

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025June 30, 2026November 16, 2026Not due yet
2024June 30, 2025November 17, 2025990 on file
2023June 30, 2024November 15, 2024990 on file

IRS record

EIN
23-7354328
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (170(b)(1)(A)(vi))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
1974
Accounting year ends
June
Files
Form 990 or 990-EZ
Category (NTEE)
Education (B43)
Assets (IRS master file)
$110,056,247
Income (IRS master file)
$42,311,496

Filing history

FormYear endedRevenueExpensesAssetsReturn
990June 2025$12,702,767$5,899,163$110,056,247XML
990June 2024$7,649,091$5,008,544$102,355,827XML
990June 2023$5,874,789$5,669,764$96,202,485IRS
990June 2022$11,725,462$5,451,902$90,256,311IRS
990June 2021–––IRS
990June 2020–––IRS
990June 2019–––IRS
990June 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 23-7354328).

Questions about CCSU FOUNDATION INC

What is the EIN of CCSU FOUNDATION INC?
The employer identification number (EIN) of CCSU FOUNDATION INC is 23-7354328.
Is CCSU FOUNDATION INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1974.
Are donations to CCSU FOUNDATION INC tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does CCSU FOUNDATION INC file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of CCSU FOUNDATION INC due?
The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did CCSU FOUNDATION INC last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended June 2025.
Who is the principal officer of CCSU FOUNDATION INC?
The 990 for the year ended June 30, 2025 names JENNIFER DESTEFANI.
Who are the officers and directors of CCSU FOUNDATION INC?
The 990 for the year ended June 30, 2025 lists 15 people; 0 received compensation from the organization.
How much revenue does CCSU FOUNDATION INC have?
On its 990 for the year ended June 30, 2025 it reported revenue of $12,702,767, expenses of $5,899,163 and total assets of $110,056,247 at year end.

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