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Nonprofit · EIN 22-2678033

NFA FOUNDATION INC

Tax-exempt · NORWICH, CT 06360

Financials

$5.5M$3.9M2023$4.6M$3.9M2024
Revenue Expenses · by fiscal year end
Financials of NFA FOUNDATION INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
June 30, 2025990$4,600,603$3,937,824$662,779$92,282,022$4,308,709$87,973,313
June 30, 2024990$5,507,209$3,870,297$1,636,912$85,767,761$4,301,012$81,466,749
Financial details: 990 for the year ended June 30, 2025

Revenue

Contributions, gifts and grants
$1,083,124
Program service revenue
$29,813
Investment income
$3,479,845
Net gain from sales of assets
$465,899
Net income from fundraising events
$4,834
Other revenue
$7,821

Expenses

Grants and similar amounts paid
$3,042,535
Compensation of officers, directors and key employees
$185,955
Other salaries and wages
$230,489
Salaries, compensation and benefits (total)
$508,889
Professional fundraising fees
$0
Legal fees
$3,298
Accounting fees
$47,576
Occupancy
$74,700
Travel
$10,140
Program services (functional)
$3,343,371
Management and general (functional)
$353,591
Fundraising (functional)
$240,862

Balance sheet and other

Total assets, start of year
$85,767,761
Total assets, end of year
$92,282,022
Total liabilities, end of year
$4,308,709
Net assets, end of year
$87,973,313
Publicly traded securities
$77,425,733
Net assets without donor restrictions
$26,219,664
Net assets with donor restrictions
$61,753,649
Gross receipts
$11,237,179
Employees
6
Volunteers
20
Year formed
1986
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 / weekCompensationFrom related orgsOther / benefits
RICHARD FREEMANDIRECTOR OF FINANCE (UNTIL 03/25)
Officer
5$0$150,927$44,915
KATHLEEN MCCARTHYEXECUTIVE DIRECTOR
Officer
40$130,078$0$51,455
MARK TRAMONTOZZIPRESIDENT AND DIRECTOR
Trustee or director, Officer
2$0$0$0
DIANA BOISCLAIRVICE PRESIDENT AND DIRECTOR
Trustee or director, Officer
2$0$0$0
CHERYL RITACCOSECRETARY AND DIRECTOR
Trustee or director, Officer
2$0$0$0
MARK D WOODSTREASURER AND DIRECTOR
Trustee or director, Officer
2$0$0$0
ALLYN L BROWN IIIDIRECTOR
Trustee or director
1$0$0$0
DEVOL S JOYNERDIRECTOR
Trustee or director
1$0$0$0
MARIA MIRNADADIRECTOR
Trustee or director
1$0$0$0
TODD POSTLERDIRECTOR
Trustee or director
1$0$0$0
DANIEL KINGDIRECTOR
Trustee or director
1$0$0$0
DENISE LINDELLDIRECTOR
Trustee or director
1$0$0$0
KEITH FONTAINEDIRECTOR (AS OF 11/24)
Trustee or director
1$0$0$0
THOMAS HAMMONDDIRECTOR (UNTIL 5/25)
Trustee or director
1$0$0$0
B MICHAEL RAUH JRDIRECTOR (UNTIL 11/24)
Trustee or director
1$0$0$0
990 for the year ended June 30, 2024: 17 people
NameTitleHours / weekCompensationFrom related orgsOther / benefits
RICHARD FREEMANDIRECTOR OF FINANCE
Officer
5$0$158,502$40,464
KATHLEEN MCCARTHYEXECUTIVE DIRECTOR
Officer
40$125,843$0$54,508
MARK TRAMONTOZZIPRESIDENT AND DIRECTOR
Trustee or director, Officer
2$0$0$0
DIANA BOISCLAIRVICE PRESIDENT AND DIRECTOR
Trustee or director, Officer
2$0$0$0
CHERYL RITACCOSECRETARY AND DIRECTOR
Trustee or director, Officer
2$0$0$0
MARK D WOODSTREASURER AND DIRECTOR
Trustee or director, Officer
2$0$0$0
ALLYN L BROWN IIIDIRECTOR
Trustee or director
1$0$0$0
THOMAS HAMMONDDIRECTOR
Trustee or director
1$0$0$0
DEVOL S JOYNERDIRECTOR
Trustee or director
1$0$0$0
MARIA MIRNADADIRECTOR
Trustee or director
1$0$0$0
TODD POSTLERDIRECTOR
Trustee or director
1$0$0$0
B MICHAEL RAUH JRDIRECTOR
Trustee or director
1$0$0$0
DANIEL KINGDIRECTOR
Trustee or director
1$0$0$0
DENISE LINDELLDIRECTOR
Trustee or director
1$0$0$0
GARY CARIGNANDIRECTOR (UNTIL 11/23)
Trustee or director
1$0$0$0
KEITH FONTAINEDIRECTOR (UNTIL 11/23)
Trustee or director
1$0$0$0
SARETTE B WILLIAMSDIRECTOR (UNTIL 11/23)
Trustee or director
1$0$0$0

Address and contacts

Address (IRS master file)
321 BROADWAY, NORWICH, CT 06360-3547
Principal officer (990 for 2024)
KATHLEEN MCCARTHY, 321 BROADWAY, NORWICH, CT 063603547
Signed the 990
KATHLEEN MCCARTHY, EXECUTIVE DIRECTOR
Phone
(860) 887-2505
Return prepared by
CLIFTONLARSONALLEN

Mission

THE NFA FOUNDATION ADVANCES OPPORTUNITIES AT NORWICH FREE ACADEMY BY SOLICITING, ACCEPTING, AND PRUDENTLY MANAGING DONATED AND ENDOWED FUNDS. THE FOUNDATION ACTIVELY BUILDS AWARENESS, ENGAGES ALUMNI, NURTURES RELATIONSHIPS, AND DEVELOPS PARTNERSHIPS TO BENEFIT THE ACADEMY'S STUDENTS, FACULTY, AND STAFF.

990 for the year ended June 30, 2025

Program accomplishments

  • THE FOUNDATION PRIMARILY SOLICITS AND RECEIVES CONTRIBUTIONS AND BEQUESTS FOR THE NORWICH FREE ACADEMY (NFA). THE FOUNDATION ALSO HELD FOUR REUNION EVENTS IN 2025. THIS PROVIDED OPPORTUNITIES FOR ALUMNI IN BOSTON AND FLORIDA TO CONNECT WITH FELLOW NFA ALUMNI RESIDING IN THEIR CITIES. ADDITIONALLY, TWO REUNIONS WERE HELD FOR MEMBERS OF THE CLASSES OF 1965-1973 AS THE RED & WHITE REUNION AND 1942-1964 AS THE JUBILEE REUNION.
    Expenses $3,343,371 · grants $3,042,535 · revenue $29,813

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
22-2678033
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
1986
Accounting year ends
June
Files
Form 990 or 990-EZ
Assets (IRS master file)
$92,282,022
Income (IRS master file)
$11,237,179

Filing history

FormYear endedRevenueExpensesAssetsReturn
990June 2025–––IRS
990June 2024–––IRS
990June 2023$3,730,231$3,831,267$80,177,189IRS
990June 2022$5,415,738$14,635,807$77,129,817IRS
990June 2021–––IRS
990June 2019–––IRS
990June 2018–––IRS

990-N: the IRS publishes only the latest e-Postcard per organization; earlier years appear here as 990.tax collects the monthly files. 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.

Questions about NFA FOUNDATION INC

What is the EIN of NFA FOUNDATION INC?
The employer identification number (EIN) of NFA FOUNDATION INC is 22-2678033.
Is NFA FOUNDATION INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1986.
Are donations to NFA FOUNDATION INC tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does NFA 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 NFA 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 NFA 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 NFA FOUNDATION INC?
The 990 for the year ended June 30, 2025 names KATHLEEN MCCARTHY.
Who are the officers and directors of NFA FOUNDATION INC?
The 990 for the year ended June 30, 2025 lists 15 people; 1 received compensation from the organization.
How much revenue does NFA FOUNDATION INC have?
On its 990 for the year ended June 30, 2025 it reported revenue of $4,600,603, expenses of $3,937,824 and total assets of $92,282,022 at year end.

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