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Nonprofiteer
← ECONOMIC DEVELOPMENT CORPORATION OF NEW HAVEN

Form 990 for tax year 2023

Filed by ECONOMIC DEVELOPMENT CORPORATION OF NEW HAVEN.

Totals

Total revenue
$668,117
Total expenses
$570,865
Contributions and grants received
$449,567
Grants paid
$64,050
Program service revenue
$218,522
Investment income
$28
Other revenue
$0
Total assets, end of year
$1,003,721
Total liabilities, end of year
$666,807
Net assets or fund balances, end of year
$336,914
Program services expenses (Part IX)
$451,982
Management and general expenses
$118,883
Fundraising expenses
$0
Program service expenses (Part III)
$451,982

Program services were 79.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $99,000

  • 1f · All other contributions, gifts and grants

    $350,567

  • 2a · Program service revenue: Economic Development S

    total $218,522 · related or exempt $218,522

  • 3 · Investment income

    total $28 · related or exempt $28

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $64,050 · program services $64,050

  • 7 · Other salaries and wages

    total $332,047 · program services $249,035 · management and general $83,012

  • 9 · Other employee benefits

    total $22,589 · program services $16,942 · management and general $5,647

  • 10 · Payroll taxes

    total $29,905 · program services $22,429 · management and general $7,476

  • 11c · Fees: accounting

    total $20,800 · program services $15,600 · management and general $5,200

  • 11g · Fees: other

    total $12,721 · program services $12,641 · management and general $80

  • 12 · Advertising and promotion

    total $18,872 · program services $18,872

  • 13 · Office expenses

    total $4,734 · program services $3,551 · management and general $1,183

  • 14 · Information technology

    total $9,893 · program services $7,420 · management and general $2,473

  • 16 · Occupancy

    total $19,588 · program services $14,691 · management and general $4,897

  • 19 · Conferences, conventions and meetings

    total $8,694 · program services $6,521 · management and general $2,173

  • 22 · Depreciation, depletion and amortization

    total $955 · program services $716 · management and general $239

  • 23 · Insurance

    total $9,107 · program services $6,831 · management and general $2,276

  • 24a · Other expenses: Utilities

    total $5,443 · program services $4,082 · management and general $1,361

  • 24b · Other expenses: Repairs and Maintenance

    total $5,235 · program services $3,926 · management and general $1,309

  • 24c · Other expenses: Telephone

    total $3,350 · program services $2,513 · management and general $837

  • 24d · Other expenses: Dues and Subscriptions

    total $1,649 · program services $1,237 · management and general $412

  • 24e · All other expenses

    total $1,233 · program services $925 · management and general $308

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $644,155 · end of year $824,824

  • 2 · Savings and temporary cash investments

    beginning of year $216,041 · end of year $126,764

  • 3 · Pledges and grants receivable

    beginning of year $202,928

  • 4 · Accounts receivable

    end of year $46,632

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,745 · end of year $3,181

  • 10a · Land, buildings and equipment: cost or other basis

    $4,779

  • 10b · Land, buildings and equipment: accumulated depreciation

    $2,459

  • 10c · Land, buildings and equipment, net

    beginning of year $3,275 · end of year $2,320

  • 17 · Accounts payable and accrued expenses

    beginning of year $61,574 · end of year $29,337

  • 19 · Deferred revenue

    beginning of year $767,908 · end of year $637,470

  • 27 · Net assets without donor restrictions

    beginning of year $239,662 · end of year $336,914

Mission and programs · 2023

Mission

The Organization's mission is to create a vibrant business environment in New Haven, Connecticut and to serve as a catalyst for attracting human and capital investment to the city and its neighborhoods by retaining and attracting businesses and fostering a positive economic climate.

  • The Organization works to attract new and maintain current businesses in the city of New Haven, Connecticut including a medical district, housings project, small business initiatives, support of a bioscience initiative, redevelopment of the Coliseum site along with other projects.

    Expenses $451,982 · Grants $64,050 · Revenue $218,550

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Virginia Kozlowski

    Chief Executive Officer

    Total calculated
    $127,846
    From this org
    $127,846
    From related orgs
    $0
    Other
    $0
    Hours/week
    20

  • Shelly Saczynski

    Chairperson

    Total calculated
    $0
    Hours/week
    1

  • Laura Brown

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Mayor Justin Elicker

    Member

    Total calculated
    $0
    Hours/week
    1

  • Michael Piscitelli

    Administrator

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

  • District Arts and Education Inc

    $50,000

    To serve as a catalyst for attracting human and capital investment to the city and its neighborhoods.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202443189349309014

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