2023 ANNUAL REPORT
Financial stewardship is job one for the Hartford Foundation Board of Directors. Each member of our board and committees approaches this responsibility with dedication, empathy, and open-mindedness.
We are truly grateful for our donors’ generosity and commitment to the community, which enables the Foundation to support countless nonprofits that impact our region’s residents.
We report our financial results from 2023 with a sense of pride and, as always, full transparency. The Hartford Foundation’s resources are indeed the community’s resources; we invite you to review our finances, fundraising results, grantmaking overview, and board and staff bios below.
In a few short months, we will kick off the Foundation’s 100th anniversary year. Many opportunities are ahead for our Centennial, and plans are taking shape to have a transformative impact on residents across Greater Hartford. We hope you’ll join us!
2023 BY THE NUMBERS
$1.14 billion
$22.4 million
26 new funds
$ 49.9 million in grants
2023 BY THE NUMBERS
$1.14 billion
$22.4 million
26 new funds
$ 49.9 million in grants
GRANTMAKING AND ENDOWMENT 2023
The Hartford Foundation continued its impact in 2023, awarding $49.9 million to nonprofit organizations aligned with our strategic priorities and donor recommendations. Among more than 3000 grants are dozens of organizations that had not previously received funding from the Foundation.
Grants by Outcome Area
TOTAL GRANTS*: $49,867,965 | INDIVIDUAL GRANTS: 3,133
* Does not include grants from agency endowments.
** Many of our donor-directed funds are aligned with the Foundation’s strategic framework.
Endowment by Fund Type
as of December 31, 2023
Our carefully managed endowment guarantees the endurance of our resources and the progress it supports. We balance risk and return, growth and spending so we can protect tomorrow’s assets while addressing today’s needs.
Summary of Finances
| 2023 | 2022 | |
|---|---|---|
| ASSETS | ||
| Investments | 1,124,545,521 | 1,039,405,837 |
| Other Assets | 14,424,810 | 18,389,082 |
| Total Assets | 1,138,970,331 | 1,057,794,919 |
| LIABILITIES AND NET ASSETS | ||
| Grants and Other Payables | 20,415,755 | 22,494,607 |
| Other Liabilities | 12,187,832 | 17,559,918 |
| Net Assets | 1,106,366,744 | 1,017,740,394 |
| Total Liabilities and Net Assets | 1,138,970,331 | 1,057,794,919 |
| REVENUES | ||
| Contributions | 22,387,381 | 40,575,694 |
| Other Revenue / (Loss) | 1,011,795 | 1,730,935 |
| Total Revenues | 23,399,176 | 42,306,629 |
| GRANTS AND EXPENSES | ||
| Grants* | 49,867,965 | 54,386,215 |
| Program support and Foundation- administered Projects |
2,431,634 | 2,469,275 |
| Operating Expenses | 9,479,049 | 9,349,597 |
| Total Grants and Expenses | 61,778,648 | 66,205,087 |
| TOTAL INVESTMENT RETURN | 127,005,825 | (170,260,277) |
| TOTAL ASSETS | ||
| Beginning of the Year | 1,057,794,919 | 1,247,890,543 |
| End of Year | 1,138,970,331 | 1,057,794,919 |
For a complete copy of the audited report of the Hartford Foundation’s finances for 2023, visit our website at hfpg.org/audit or contact the Finance department at 860-548-1888. To view a copy of our tax return (IRS Form 990), visit Candid.org (formerly Guide Star) or contact the Foundation.
