Newalliance Foundation Inc
NewAlliance Foundation is a private foundation based in New Haven, Connecticut, established in 2005. The foundation enhances literacy for low-income children and supports community organizations advancing education and equity across multiple focus areas.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$32.2M
+5.4% YoY
Annual Giving
$994K
+0.1% YoY
Grant Count
144
+2.9% YoY
Avg Grant Size
$7K
-2.6% YoY
Mission & Focus Areas
The foundation supports nonprofit and charitable organizations that promote:
- Arts — Programs designed to inspire artistic expression, reach underserved populations, and utilize the arts as a tool to improve academic performance, educational outcomes, and literacy
- Community Development — Initiatives that foster economic self-sufficiency through job readiness skills, employment preparedness, and literacy; programs that promote community stability through economic development initiatives
- Health & Human Services — Programs that improve health outcomes and social services
- Youth & Education — Educational programs for youth development and success
Grantmaking
Grant Range
$50–$27,500
Average Grant
approximately $7,900
Ready to take the next step with Newalliance Foundation Inc?
Geographic Focus
Where this funder awards grants
The foundation's service area includes Connecticut, Massachusetts, and Tennessee.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
As of 2024:
- Total assets: $32,235,093
- Total revenues: $1,162,125
- Total expenses: $1,753,072
- Total giving: $994,060
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $32,235,093 | $30,587,601 | $28,311,311 |
| Revenue | $1,162,125 | $787,292 | $1,142,529 |
| Expenses | $1,753,072 | $1,852,069 | $1,896,426 |
| Qualifying Distributions | $1,555,366 | $1,533,058 | $1,691,602 |
| Net Investment Income | $975,423 | $480,117 | $936,447 |
| Distributable Amount | $1,547,922 | $1,440,026 | $1,474,438 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
250 grants across all recorded years
Open Grants
2 open opportunities from Newalliance Foundation Inc
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
Board of Directors:
- Robert J. Lyons, Jr., Chair — Retired President & Chief Executive Officer, The Bilco Company
- Alexis H. Smith, Vice-Chair — Executive Director, New Haven Legal Assistance Association
- Paul A. McCraven, Secretary/Treasurer — President and CEO, ConnCORP Holdings, LLC
- Michael T. Angelini — Vice President for Treasury, Yale New Haven Health
- Wildaliz Bermúdez — Executive Director of the Fair Rent Commission, City of New Haven
- Alan H. Bowie, Jr. — Senior Counsel, Simon & Schuster
- Marjorie Bussmann Gillis, Ed.D. — President, Literacy How, Inc.
- Toni N. Harp — Board Chair/Co-founder, Impact CT; Mayor of New Haven 2014–2020
- Dr. Dorsey L. Kendrick — Retired President, Gateway Community College
- David I. Newton — President, Elm Advisors, LLC
- Liza Janssen Petra — Executive Director, The Guilford Foundation Branford Community Foundation
- Fahd Vahidy — Philanthropic Advisor to Bill Graustein
Staff:
- Darcey Cobbs-Lomax — Executive Director (effective February 16, 2026), formerly Executive Director of the Office of Health Equity & Community Impact at Yale New Haven Health System and previously Executive Director of Project Access of New Haven
The foundation operates with 2 employees.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| ROBERT J LYONS JR | DIRECTOR, CHAIR | 1 | — |
| ALEXIS H SMITH | DIRECTOR, VICE CHAIR | 1 | — |
| PAUL A MCCRAVEN | DIRECTOR, SECRETARY, TREASURER | 1 | — |
| FRED ACQUAVITA | DIRECTOR | 1 | — |
| MICHAEL T ANGELINI | DIRECTOR | 1 | — |
| WILDALIZ BERMUDEZ | DIRECTOR (BEGAN 05/06/2024) | 1 | — |
| JOHN-PAUL CHAISSAN-CARDENAS | DIRECTOR (BEGAN 05/06/2024) | 1 | — |
| MARJORIE BUSSMANN GILLIS ED D | DIRECTOR | 1 | — |
| D ANTHONY GUGLIELMO | DIRECTOR | 1 | — |
| DR DORSEY L KENDRICK | DIRECTOR | 1 | — |
| DAVID I NEWTON | DIRECTOR | 1 | — |
| FAHD VAHIDY | DIRECTOR | 1 | — |
| MARYANN OTT | EXECUTIVE DIRECTOR | 40 | $167,752 |
Recent News & Activity
Recent developments and announcements
NewAlliance Foundation appointed Darcey Cobbs-Lomax as Executive Director, effective February 16, 2026, succeeding Maryann Ott
NewAlliance Foundation Announces New Executive Director | New Haven, CT PatchCornell Scott-Hill Health Center received a $10,000 grant to advance innovation and health equity, supporting a newly launched endowment fund
Cornell Scott-Hill Health Center Earns $10,000 Grant from NewAlliance FoundationGreenStage received a grant for the second consecutive year
NewAlliance Foundation Awards GreenStage Grant for Second YearData last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
What could you do with Newalliance Foundation Inc on Grantable?
- Assess strategic fit with your organization
- Draft a tailored letter of inquiry
- Find open RFPs from this funder
- Monitor for new funding opportunities