THE FOUNDATION FOR NORFOLK LIVING INC

EIN: 261722900 501(c)(3) Housing & Shelter

NORFOLK, CT

Total Revenue
$2,765,887
Total Expenses
$200,716
Total Assets
$7,141,005
Net Assets
$6,824,135
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2005
Legal Domicile
CT
Principal Officer
KATE JOHNSON
Phone
8603072693
Tax Period
2023-01-01 to 2023-12-31

THE FOUNDATION FOR NORFOLK LIVING INC, founded in 2005, is a community nonprofit in the Housing & Shelter sector that reported $2.8M in total revenue in fiscal year 2023. Revenue surged 436% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.6M, a strong 93% operating margin.

Mission

TO PROVIDE FINANCIAL AND OTHER FORMS OF SUPPORT AND ASSISTANCE IN ORDER TO CREATE OPPORTUNITES FOR HOUSING IN NORFOLK, CT THAT ARE AFFORDABLE TO A DIVERSE COMMUNITY OF PEOPLE AND FAMILIES OF MODEST MEANS.

Program Service Accomplishments

Program 1
Expenses: $32,356

TO PROVIDE FINANCIAL AND OTHER FORMS OF SUPPORT AND ASSISTANCE IN ORDER TO CREATE OPPORTUNITES FOR HOUSING IN NORFOLK, CT THAT ARE AFFORDABLE TO A DIVERSE COMMUNITY OF PEOPLE AND FAMILIES OF MODEST...

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TO PROVIDE FINANCIAL AND OTHER FORMS OF SUPPORT AND ASSISTANCE IN ORDER TO CREATE OPPORTUNITES FOR HOUSING IN NORFOLK, CT THAT ARE AFFORDABLE TO A DIVERSE COMMUNITY OF PEOPLE AND FAMILIES OF MODEST MEANS.

Program 2
Expenses: $168,360 Revenue: $113,785

LOW INCOME HOUSING-TOWN CENTER RENTALS

Program 3

LOW INCOME HOUSING-ARCANUM

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $2,651,103
Program Service Revenue $113,785
Investment Income $999
Other Revenue $0
TOTAL REVENUE $2,765,887

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $200,716
Other Expenses $200,716
TOTAL EXPENSES $200,716

Year-over-Year Comparison

2023 2022 Change
Revenue $2,765,887 $515,543 +4.4%
Expenses $200,716 $194,681 +0.0%
Net Income $2,565,171 $320,862 +7.0%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
9
Independent Members
9
Employees
N/A
Volunteers
N/A

Governance Policies

✓ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$0
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KATE BRIGGS JOHNSON PRESIDENT 10.00
Officer Director
$0 $0 $0
NINA RITSON V PRESIDENT 3.00
Officer Director
$0 $0 $0
JESSICA LISTORI DIRECTOR 3.00
Director
$0 $0 $0
JULIE SCHARNBERG SECRETARY 3.00
Officer Director
$0 $0 $0
LEILA JAVITCH DIRECTOR 1.00
Director
$0 $0 $0
JORDAN STERN DIRECTOR 1.00
Director
$0 $0 $0
BEN HERZOG DIRECTOR 1.00
Director
$0 $0 $0
LOUIS BARBAGALLO DIRECTOR 3.00
Director
$0 $0 $0
ERICK OLSEN DIRECTOR 1.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $2,765,887 $200,716 $7,141,005 $2,565,171
2022 $515,543 $194,681 $4,560,155 $320,862
2021 $100,896 $188,042 $4,241,258 $-87,146
2020 $96,992 $171,086 $4,322,172 $-74,094
2019 $565,479 $173,817 $4,118,733 $391,662
2018 $767,310 $151,993 $4,141,897 $615,317
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