2012-08-16T12:05:20-04:00 2011-12-31 GRANT THORNTON LLP 125 HIGH ST 21ST FLOOR BOSTON MA 021102704 990 2011-01-01 061433299 MAIN STREET COMMUNITY FOUNDATION INC % SUSAN D SADECKI MAIN 8605836363 PO BOX 2702 200 MAIN STREET BRISTOL CT 060112702 susan sadecki 2012-08-13 true Laura Kenney 6172267000 2011 2016-02-24 21:20:13Z SUSAN D SADECKI PO BOX 2702 200 MAIN STREET BRISTOL CT 060112702 1694482 false X WWW.MAINSTREETFOUNDATION.ORG X 1995 CT TO ENHANCE THE QUALITY OF LIFE FOR BOTH PRESENT AND FUTURE GENERATIONS IN THE COMMUNITIES WE SERVE. 21 20 6 115 0 698944 824987 227901 97589 547001 682972 -23952 55441 1449894 1660989 257762 225985 0 0 259840 265668 0 0 40447 249347 137257 766949 628910 682945 1032079 11262312 10827391 2465983 2426082 8796329 8401309 X TO ENHANCE THE QUALITY OF LIFE FOR BOTH PRESENT AND FUTURE GENERATIONS IN THE COMMUNITIES WE SERVE. WE ACCOMPLISH OUR MISSION BY ENCOURAGING AND PROMOTING: GIFT PLANNING, PRUDENT STEWARDSHIP OF ASSETS, EFFECTIVE GRANT MAKING AND COMMUNITY LEADERSHIP. false false 133038 77025 0 The Main Street Community Foundation's scholarship program brings together students in need and donors who care about education to enable more students to achieve their educational dreams. We believe that an investment in area students is an investment in our community. The impact of this investment will be realized long beyond the degree obtained. The Foundation currently administers over 60 named scholarship funds that have been established by individuals, families, businesses and other organizations. In 2011, the Foundation awarded scholarships to 52 individuals in the local community to assist with their pursuit of higher education. 27630 17000 0 TO SUPPORT THE FUNCTION AND MISSION OF THE LOCAL COMMUNITY COLLEGE FOUNDATION. 21285 13065 0 TO SUPPORT THE UPKEEP ON A LOCAL CEMETeRY. 225382 118895 97589 TO SUPPORT THE NEEDS OF THE COMMUNITIES WE SERVE 225382 118895 97589 407335 true true false false false true false false true true true false false false false true false true false false false false false false true false false true true false false false false false false false false false false false false false false true false false false false true 4 0 true 6 true false false false false false true true false false false false false false false X 21 20 false false false false false false false true true false false true true true true true true true false false CT X SUSAN D SADECKI 8605836363 200 MAIN STREET BRISTOL CT 060102702 SUSAN D SADECKI 50.0 X X 99826 0 3448 WILLIAM J TRACEY JR 2.0 X X 0 0 0 JANIS L NERI 2.0 X X 0 0 0 JOHN A LETIZIA 2.0 X X 0 0 0 ROBERT M CAIAZE 2.0 X X 0 0 0 MARK J BLUM 2.0 X X 0 0 0 MICHAEL BRAULT 2.0 X 0 0 0 DINO T CARBONE 2.0 X 0 0 0 DENNIS H CLEARY 2.0 X 0 0 0 VALERIE A DEPAOLO 2.0 X 0 0 0 PATRICIA B DUNN 2.0 X 0 0 0 DAVID ENGLAND 2.0 X 0 0 0 BARBARA FONTAINE 2.0 X 0 0 0 ARTHUR FUNK 2.0 X 0 0 0 ANITA HAMZY 2.0 X 0 0 0 DWIGHT C HARRIS 2.0 X 0 0 0 DANIEL J LAPORTE 2.0 X 0 0 0 MARK PETERSON 2.0 X 0 0 0 ROBYN M POULOS 2.0 X 0 0 0 JOHN D SCARRITT 2.0 X 0 0 0 BYRON TREADO 2.0 X 0 0 0 99826 0 3448 0 false false false 0 824987 824987 ADMINISTRATIVE FEE REVENUE 523920 97589 97589 97589 313670 313670 0 0 264295 105007 264295 105007 369302 369302 87195 33493 53702 53702 0 0 MISCELLANEOUS 900099 1739 1739 1739 1660989 97589 738413 143294 143294 82691 82691 0 0 99826 86587 13239 0 126208 110305 15903 0 19407 3352 16055 20227 9871 7747 2609 0 0 8475 8475 0 0 49000 39320 9680 0 9408 900 3933 4575 30897 7872 19142 3883 0 0 13500 4590 8910 527 527 0 0 0 0 3111 3111 4922 1975 2947 DUES, MEMBERSHIPS & CONF. 5766 286 5480 PRINTING 10951 2679 8034 238 MISCELLANEOUS 700 200 500 628910 407335 181128 40447 116296 126463 1025748 588705 40108 80795 0 0 0 0 0 0 946294 0 0 0 0 26054 51052 46175 6667 4877 9127199 9572943 0 427554 0 0 0 0 0 0 11262312 10827391 0 2033 29081 22131 0 0 0 0 2436902 2401918 0 0 0 0 0 0 0 0 2465983 2426082 X 8186517 7750810 40108 80795 569704 569704 8796329 8401309 11262312 10827391 X 1032079 -1427099 X false true true X false X 1586036 1112138 580274 698944 821048 4798440 1586036 1112138 580274 698944 821048 4798440 914029 3884411 692221 736669 711966 207374 238370 2586600 25163 0 0 1340 1739 28242 7413282 669210 0.52398 0.64960 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 21 152 113847 659988 48472 177387 637275 10092742 true true false true 23958991 821048 555066 1477737 23857368 21712846 885507 2861179 1500541 23958991 19085204 580274 3153533 1106165 21712846 24619930 1112138 -4743491 1903373 19085204 0.97273 0.02388 0.00339 false false 51052 46175 4877 4877 0 0 1660989 628910 1032079 -366359 -114446 -480805 551274 1171932 -366359 33493 -332866 1504798 156191 156191 1660989 620658 33493 33493 587165 41745 41745 628910 ESCROW AND CUSTODIAL ARRANGEMENTS pART iv, lINE 2A Pursuant to FASB 136, the Foundation holds contributions from unrelated agencies on its balance sheet; these funds are called its Agency Endowment. These funds are classified as assets with a corresponding liability in the Foundation's audited financials. The transaction in which the funds are transferred is a completed gift and, as a matter of law, the transferred assets are the Foundation's property. For purposes of Form 990 reporting, the Foundation reports all contributions to the Endowment as grant revenue and all distributions to the transferor agency as a grant. Please refer to the Schedule D reconciliation for more information. INCOME TAXES PART X, LINE 2 THE FOUNDATION HAS IMPLEMENTED THE ACCOUNTING GUIDANCE FOR UNCERTAINTY IN INCOME TAXES USING CERTAIN PROVISIONS OF ASC 740, INCOME TAXES. USING THIS GUIDANCE, TAX POSITIONS INITIALLY NEED TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS WHEN IT IS MORE-LIKELY-THAN-NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION BY THE TAX AUTHORITIES. AS OF DECEMBER 31, 2011 AND 2010, THE FOUNDATION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS AND BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR INCOME TAX POSITIONS TAKEN IN ITS INFORMATIONAL TAX RETURNS. CURRENTLY, THE FOUNDATION'S FEDERAL INFORMATIONAL RETURNS FOR FISCAL YEAR 2008-2010 REMAIN OPEN TO INSPECTION BY THE IRS. RECONCILIATION OF the 990 Main Street Community Foundation, Inc. does not receive standalone financial statements; its operations are consolidated with the financial statements of its related organization, Bradley H. Barnes Trust. The Parts XI, XII, and XIII reconciliations on Schedule D tie back to Main Street Community Foundation's financial information in the audited financial statements and not to the consolidated numbers. RECONCILIATION OF net assets SCHEDULE D, PART XI, LINE 9 Net Activities of the Agency Endowment Fund $(114,446) RECONCILIATION OF REVENUE SCHEDULE D, PART XII, LINE 2D SPECIAL EVENT EXPENSES NETTED WITH SPECIAL EVENT REVENUES $33,493 SCHEDULE D, PART XII, LINE 4b Revenues of Agency Endowment Fund $184,245 eLIMINATIONS (28,054) --------- $156,191 RECONCILIATION OF EXPENSES SCHEDULE D, PART XIII, LINE 2D SPECIAL EVENT EXPENSES NETTED WITH SPECIAL EVENT REVENUES $33,493 SCHEDULE D, PART XIII, LINE 4b Expenses of Agency Endowment Fund $41,745 WONDER OF WOMEN 38849 38849 14517 1000 3331 JEANS & JAZZ 48346 48346 10920 2000 1725 0 0 0 0 0 0 87195 87195 25437 3000 5056 33493 53702 true WEST CEMETARY ASSOCIATION 49 POUND STREET BRISTOL CT 06010 060661038 13065 UPKEEP OF CEMETARY BRISTOL BOYS AND GIRLS CLUB 105 LAUREL STREET BRISTOL CT 06010 060646556 6911 CAMPAIGN SUPPORT SOUTHINGTON-CHESIRE COMMUNITY YMCA'S 29 HIGH STREET SOUTHINGTON CT 06489 060646905 5952 GENERAL SUPPORT TUNXIS COMMUNITY COLLEGE FOUNDATION 271 SCOTT SWAMP ROAD FARMINGTON CT 06034 237099816 17000 GENERAL SUPPORT YWCA OF NEW BRITAIN PO BOX 2545 NEW BRITAIN CT 06050 060598620 6233 EDUCATIONAL RENBROOK SCHOOL 2865 ALBANY AVENUE WEST HARTFORD CT 06117 060646702 12000 SUPPORT 2 ENDOWMENTS BURLINGTON FOOD & FUEL BANK 200 SPIELMAN HIGHWAY BURLINGTON CT 06013 066001968 7695 FUEL & FOOD ASSISTANCE FOR NEEDY 7 SCHOLARSHIPS AWARDED TO LOCAL COLLEGE STUDENTS 52 77024 IMMEDIATE RESPONSE AID TO INDIVIDUALS 31 5667 schedule I, Part I, Line 1 The Foundation requires organizations that receive grant funds to provide periodic reports back to the Foundation about how the funds are expended to support a charitable cause. To the extent the Foundation provides scholarships to college students, those funds are remitted directly to the college or university where the student is enrolled. The student has no discretion in how the funds are used so no further monitoring is required. If a student does not meet certain benchmarks (e.g. grade requirements), they may forfeit the right to the scholarship funds. FORM 990 PART VI, SECTION B, LINE 11 THE BOARD OF DIRECTORS ELECTS MEMBERS OF THE BOARD'S AUDIT COMMITTEE TO MEET WITH THE FOUNDATION'S AUDITORS FOR A FORMAL REVIEW OF THE AUDIT AND 990 ONCE COMPLETED. THE 990 IS THEN PROVIDED TO THE FULL BOARD OF DIRECTORS THROUGH EMAIL OR AT A BOARD MEETING IF ONE IS HELD PRIOR TO SUBMISSION OF THE DOCUMENT. FORM 990, PART VI, SECTION B, LINE 12C THE AUDIT COMMITTEE LISTS ALL CONFLICTS REPORTED AND BRINGS THE LIST TO THE ATTENTION OF THE EXECUTIVE COMMITTEE AND THE PRESIDENT WHO MONITORS VOTES. FORM 990, PART VI, SECTION B, LINE 15A EACH BOARD MEMBER COMPLETES AN EVALUATION FORM WHICH IS COLLECTED BY THE BOARD CHAIR. ONCE COMPLETE, THE RESULTS ARE PROVIDED TO THE BOARD OF DIRECTORS IN EXECUTIVE SESSION AND THE COMPOSITE EVALUATION IS THEN SIGNED BY THE BOARD CHAIR AND PRESIDENT AND IS MAINTAINED ON FILE IN THE PRESIDENT'S PERSONNEL FILE. FORM 990, PART VI, SECTION C, LINE 19 The organization makes its Form 990 available to the public by retaining a copy at its place of business. The Form 990 is likewise published on the internet at www.guidestar.org. The organization's financial statements, governing documents and conflict of interest policy are not ordinarily made available to the public, but, if requested, will be provided at management's discretion. FORM 990, PART XI, LINE 5 PRIOR PERIOD ADJUSTMENT $ (946,108) UNREALIZED LOSS (366,359) AGENCY ENDOWMENTS (114,632) ------------ $(1,427,099) BRADLEY H BARNES TRUST PO BOX 2702 BRISTOL CT 060112702 066160463 CHARITABLE CT 4947(a)(1) false false false false false false false false false false false false false false false false true false false BRADLEY H BARNES TRUST P 104100 cost