The Community Foundation for Greater New Haven (Community Foundation) is a donor-advised fund that serves the New Haven, Connecticut, community ^{1 2} It also has an affiliated nonprofit organization, the Community Valley Foundation (VCF), and an affiliated investment management corporation, the Community Foundation Mission Investments Company, that share the Community Foundation’s objective of advancing left-of-center philanthropy in the New Haven community through their respective organizations. ³

The Community Foundation requires its funds, grantmaking, and other activities to use the identity politics concept of intersectionality by seeking to have its work contribute to all individuals achieving equal outcomes. ⁴ It is among the oldest community foundations in America, providing the ability for its donors to anonymously fund services and left-of-center advocacy through its funds. ⁵

Background

The Community Foundation for Greater New Haven was founded in 1928, originally named the New Haven Foundation. It is a 501(c)(3) nonprofit organization based in New Haven, Connecticut, that operates as a donor-advised fund and provides welfare services to the local community. ⁶

As of 2019, the Community Foundation reported operating 328 donor-advised funds and 1,864 other funds. ⁷ In addition to welfare, the Community Foundation gives to organizations that advocate for left-of-center policy, including voter registration groups that advocate for eliminating election integrity laws, environmentalist groups, and organizations that advocate for increased government spending on social welfare. ^{8 9 10} It also states that it has procedures in place that require its various activities to use the identity politics concept of intersectionality. ¹¹

Structure

The Community Foundation for Greater New Haven has over 2,000 funds that were created by its donors to achieve a specific purpose such as a scholarship programs. The Community Foundation serves its donors by investing the donations so that the funds can operate based on the investment income. It markets its investment services as a way for philanthropic donors’ created funds to hypothetically never run out of money. ¹²

In 2014, the Community Foundation created a for-profit investment adviser company, the Community Foundation Mission Investments Company, to manage the Community Foundation’s assets. ¹³ In addition to managing the Community Foundation’s assets, the Community Foundation Mission Investments Company offers financial services to for-profit and nonprofit organization while operating as an activist organization, sharing the Community Foundation’s requirement for using the identity politics concept of intersectionality for how it engages in business. ¹⁴ The Community Foundation’s 2019 tax returns reported that the Community Foundation Mission Investments Company held $77 million in assets and received $19 million in income. ¹⁵

The Valley Community Foundation was founded in 2004 as an affiliate of the Community Foundation. The Community Foundation’s board oversees the VCF, administers VCF’s funds, and shares investment services. VCF was created through funding from the Community Foundation and its board members to operate through the same structure and provide the same services to its donors. ¹⁶

Leadership

William Ginsberg has worked as president and CEO of the Community Foundation of Greater New Haven since 2000. He is also on the board of the Community Foundation Mission Investments Company, New Haven Promise, Yale-New Haven Hospital, ReadyCT, and the John B. Pierce Laboratory and Foundation. He previously served the Clinton administration as Assistant Secretary for Economic Development in the U.S. Department of Commerce and as Managing Director and Chief Operating Officer of the Federal Housing Finance Board. ¹⁷

Financials

According to the Community Foundation for Greater New Haven’s 2019 tax returns, it reported receiving $14.6 million in contributions and $39.4 million in investment income out of its total revenue of $54.1 million. ¹⁸ Additionally, it spent $29.7 million in grants and reported having $39.4 million in total expenditures. ¹⁹

As of the end of 2019, the Community Foundation reported owning $645 million in total assets, $1.9 million of which had donor restrictions. ²⁰

1. Kyrcz, Sarah Page. “Community Foundation: Building a Better Greater New Haven for Nearly a Century.” New Haven Register, July 23, 2018. https://www.nhregister.com/news/article/Community-Foundation-Building-a-better-Greater-13094667.php.
2. “Grants to Apply For.” The Community Foundation for Greater New Haven. Accessed May 23, 2022. https://www.cfgnh.org/strengthening-nonprofits/about-our-grantmaking/grants-to-apply-for.
3. “Report to Our Community 2019/20.” The Community Foundation for Greater New Haven. Accessed May 23, 2022. https://www.cfgnh.org/articles/report-to-our-community-2019-20.
4. “Overview & Facts.” The Community Foundation for Greater New Haven. Accessed May 23, 2022. https://www.cfgnh.org/about/overview-facts.
5. “Report to Our Community 2019/20.” The Community Foundation for Greater New Haven. Accessed May 23, 2022. https://www.cfgnh.org/articles/report-to-our-community-2019-20.
6. Kyrcz, Sarah Page. “Community Foundation: Building a Better Greater New Haven for Nearly a Century.” New Haven Register, July 23, 2018. https://www.nhregister.com/news/article/Community-Foundation-Building-a-better-Greater-13094667.php.
7. Return of Organization Exempt from Income Tax (Form 990). The Community Foundation for Greater New Haven. 2019. Schedule D, Part I, line 1 a, b.
8. “Boost Economic Success.” The Community Foundation for Greater New Haven. Accessed May 23, 2022. https://www.cfgnh.org/understanding-our-region/boost-economic-success.
9. “Protect the Environment & Animals.” The Community Foundation for Greater New Haven. Accessed May 23, 2022. https://www.cfgnh.org/understanding-our-region/protect-the-environment-animals/p2.
10. “Civic Vitality.” The Community Foundation for Greater New Haven. Accessed May 23, 2022. https://www.cfgnh.org/strengthening-nonprofits/about-our-impact/civic-vitality.
11. “Overview & Facts.” The Community Foundation for Greater New Haven. Accessed May 23, 2022. https://www.cfgnh.org/about/overview-facts.
12. “Report to Our Community 2019/20.” The Community Foundation for Greater New Haven. Accessed May 23, 2022. https://www.cfgnh.org/articles/report-to-our-community-2019-20.
13. “Report to Our Community 2019/20.” The Community Foundation for Greater New Haven. Accessed May 23, 2022. https://www.cfgnh.org/articles/report-to-our-community-2019-20.
14. “Mission Investments.” The Community Foundation for Greater New Haven. Accessed May 23, 2022. https://www.cfgnh.org/leading-on-issues/mission-investing.
15. Return of Organization Exempt from Income Tax (Form 990). The Community Foundation for Greater New Haven. 2019. Schedule R, Part I.
16. “2005 ANNUAL REPOR T.” Shelton: Valley Community Foundation, 2006. https://dtctvqh7yaqbw.cloudfront.net/documents/annual-reports/VCF-Annual-Report-2005.pdf
17. “William W. Ginsberg.” The Community Foundation for Greater New Haven. Accessed May 23, 2022. https://www.cfgnh.org/william-w-ginsberg.
18. Return of Organization Exempt from Income Tax (Form 990). The Community Foundation for Greater New Haven. 2019. Part I, lines 8-12.
19. Return of Organization Exempt from Income Tax (Form 990). The Community Foundation for Greater New Haven. 2019. Part I, lines 13-18.
20. Return of Organization Exempt from Income Tax (Form 990). The Community Foundation for Greater New Haven. 2019. Part X, lines 16, 28.