RENAISSANCE CITY DEVELOPMENT ASSOCIATION

EIN: 060995362 501(c)(3) Community Improvement

NEW LONDON, CT

Total Revenue
$-594,694
Total Expenses
$154,261
Total Assets
$2,090,856
Net Assets
$2,090,639
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1979
Legal Domicile
CT
Phone
8604478011
Tax Period
2024-07-01 to 2025-06-30

RENAISSANCE CITY DEVELOPMENT ASSOCIATION, founded in 1979, is a micro nonprofit in the Community Improvement sector that reported $595K in total revenue in fiscal year 2024. Revenue fell 1716% from the prior year — a significant decline worth monitoring.

Mission

THE RCDA IS COMMITTED TO PROMOTING AND IMPROVING THE ECONOMIC HEALTH OF NEW LONDON, WHILE CREATING OPPORTUNITIES FOR ITS CITIZENS AND THE ENTIRE REGION. THE CORPORATION PURSUES THREE KEY GOALS: CREATING JOB OPPORTUNITIES, ENHANCING THE LOCAL, REGIONAL AND STATE ECONOMY, AND CREATING OPPORTUNITIES FOR ITS CITIZENS AND THE ENTIRE REGION.

Program Service Accomplishments

Program 1
Expenses: $123,401

FORT TRUMBULL PROJECTREDEVELOPMENT OF THE DECOMMISSIONED NAVAL UNDERSEA WARFARE CENTER AS RESIDENTIAL, HOTEL, AND CONFERENCE CENTER.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $43,592
Other Revenue $-638,286
TOTAL REVENUE $-594,694

Expense Breakdown

Grants Paid $0
Salaries & Benefits $122,461
Fundraising Expenses $0
Program Expenses $123,401
Other Expenses $31,800
TOTAL EXPENSES $154,261

Year-over-Year Comparison

2024 2023 Change
Revenue $-594,694 $36,800 -17.2%
Expenses $154,261 $204,864 -0.2%
Net Income $-748,955 $-168,064 +3.5%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

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Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
8
Independent Members
8
Employees
2
Volunteers
25

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
3
$0
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MARTIN BERLINER Director 2.00
Director
$0 $0 $0
PAUL GERAGHTY Secretary 2.00
Officer Director
$0 $0 $0
FELIX REYES Director 2.00
Director
$0 $0 $0
LINDA MARIANI President 2.00
Officer Director
$0 $0 $0
DAVID SCHILL Director 2.00
Director
$0 $0 $0
TRACY ESPY Director 2.00
Director
$0 $0 $0
TONY SHERIDAN Director 2.00
Director
$0 $0 $0
DAVID CROCKER Treasurer 2.00
Officer Director
$0 $0 $0
NICHOLAS CAPLANSON Director 2.00
Director
$0 $0 $0
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
2025 $-594,694 $154,261 $2,090,856 $-748,955
2024 $36,800 $204,864 $3,260,979 $-168,064
2023 $32,605 $155,953 $3,430,057 $-123,348
2022 $726,230 $138,831 $3,522,808 $587,399
2022 $332,097 $146,181 $3,522,808 $185,916
2021 $235,530 $165,957 $3,970,936 $69,573
2020 $203,126 $166,712 $4,652,158 $36,414
2019 $191,507 $162,846 $4,647,821 $28,661
2018 $165,418 $230,096 $4,571,954 $-64,678
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