Southside Institutions Neighborhood Alliance Inc

EIN: 060993174 501(c)(3) Community Improvement

Hartford, CT

Total Revenue
$1,407,400
Total Expenses
$1,291,355
Total Assets
$6,288,640
Net Assets
$5,465,913
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Financial Trends

Organization Details

Formation Year
1978
Legal Domicile
CT
Principal Officer
Logan Singerman
Phone
8604931618
Tax Period
2023-01-01 to 2023-12-31

Southside Institutions Neighborhood Alliance Inc, founded in 1978, is a community nonprofit in the Community Improvement sector that reported $1.4M in total revenue in fiscal year 2023. Revenue decreased 18% compared to the prior year. Expenses of $1.3M left a modest 8% surplus.

Mission

SINA is a partnership between Connecticut Children's Medical Center, Hartford Hospital and Trinity College that works cooperatively with community stakeholders to restore economic vitality and improve the quality of life for the benefit of people who live, work, visit, study and play in the neighborhoods of South Central Hartford.

Program Service Accomplishments

Program 1
Expenses: $865,542 Revenue: $227,847

Development programs housing, real estate economic development including operating 42 Vernon St. Cityscape Apts providing 83 units of low income rental housing, maintenance and carrying cost for...

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Development programs housing, real estate economic development including operating 42 Vernon St. Cityscape Apts providing 83 units of low income rental housing, maintenance and carrying cost for other properties held for development, providing funding to subsidiaries developing either low income rental housing or constructing homes for sale to low to moderate income buyers all housing efforts are within the SINA neighborhood, 83 units of low income rentals were rehabilitated to date and 69 houses were developed and sold in the homeownership program, sold undeveloped land to other low income housing developers at discounted costs for their projects, economic development efforts such as cooperative efforts with local businesses to provide holiday lighting, pursue funding for projects, funding safety traffic studies, and involvement in Streetscape improvement projects. Performing follow up activities from our study for increasing economic development in our neighborhood including Anchor Institution concepts practices from around the country with nationally known consultants.

Program 2
Expenses: $95,897

Educational and other programs directed toward neighborhood residents including the SINA/Ivan Backer Scholarships and other scholarships awarded to local students attending college, the R.E.A.C.H...

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Educational and other programs directed toward neighborhood residents including the SINA/Ivan Backer Scholarships and other scholarships awarded to local students attending college, the R.E.A.C.H. Recognition, Education, Achievement and Community Health committee annual banquet at which the Neighborhood Service Awards are presented honoring individuals for their efforts in the improvement of the SINA neighborhood, neighborhood safety programs including facilitating the integration of efforts by the security teams at our member institutions and the Hartford Police and neighborhood cleanup events, provide support for school programs such as the Maria C. Sanchez Familty Fun Night and reading programs, employment programs designed to facilitate employment of neighborhood residents at the SINA institutions providing walk to work employment, managed production of murals celebrating Neighborhood Heroes, operated the Broad Street Art Garden providing opportunity for residents to grow their own food and provide attractive space, administered grants to local organizations for contributors

Program 3
Expenses: $54,150

Community public relations programs including organizing and funding meetings, attendance at and sponsorship of events held by other local nonprofits, as well as occasional financial assistance for...

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Community public relations programs including organizing and funding meetings, attendance at and sponsorship of events held by other local nonprofits, as well as occasional financial assistance for their programs, public relations consultants fees, strategic planning and various other items such as holiday cards, advertising etc. These programs all relate to building relationships, contacts and working with organizations and individuals for the betterment of the SINA neighborhood. SINA also publishes a newsletter maintains a web site to further advise about the services we provide and the results of our efforts. SINA sometimes provides services, such as accounting or fiduciary assistance to other organizations and our employees and board members or staff often serve as members for other organizations such as

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,138,186
Program Service Revenue $227,847
Investment Income $41,070
Other Revenue $297
TOTAL REVENUE $1,407,400

Expense Breakdown

Grants Paid $35,250
Salaries & Benefits $674,068
Fundraising Expenses $55,961
Program Expenses $1,015,589
Other Expenses $582,037
TOTAL EXPENSES $1,291,355

Year-over-Year Comparison

2023 2022 Change
Revenue $1,407,400 $1,713,005 -0.2%
Expenses $1,291,355 $1,743,669 -0.3%
Net Income $116,045 $-30,664 -4.8%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
9
Independent Members
9
Employees
6
Volunteers
300

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$294,994
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Jane Baird Chairman 0.50
Officer Director
$0 $0 $0
Dan Hitchell Treasurer 0.50
Officer Director
$0 $0 $0
Greg Jones Secretary 0.50
Officer Director
$0 $0 $0
Cunegando Vergara Board Member 0.50
Director
$0 $0 $0
David Fichandler Board Member 0.50
Director
$0 $0 $0
Lawrence Milan Board Member 0.50
Director
$0 $0 $0
Ryan Calhoun Board Member 0.50
Director
$0 $0 $0
Carlos Espinosa Board Member 0.50
Director
$0 $0 $0
Abigail Fisher Williamson Board Member 0.50
Director
$0 $0 $0
Melvyn Colon Executive Director 40.00
Officer
$145,656 $21,616 $167,272
Keith Hedman Chief Financial Officer 40.00
Officer
$109,889 $17,833 $127,722
Dean Iaiennaro Director, Real Estate Development 40.00
Highest
$131,622 $30,671 $162,293
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $1,407,400 $1,291,355 $6,288,640 $116,045
2022 $1,713,005 $1,743,669 $5,391,812 $-30,664
2021 $1,765,981 $2,167,636 $5,370,562 $-401,655
2020 $3,587,091 $3,970,590 $5,554,434 $-383,499
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