NORWICH COMMUNITY DEVELOPMENT CORPORATIO (EIN 061066148) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1963

Legal Domicile

Principal Officer

KEVIN BROWN

Phone

8608876964

Tax Period

2024-07-01 to 2025-06-30

NORWICH COMMUNITY DEVELOPMENT CORPORATIO, founded in 1963, is a community nonprofit in the Community Improvement sector that reported $3.8M in total revenue in fiscal year 2024. Revenue surged 142% from the prior year, signaling strong growth momentum. Expenses of $4.3M exceeded revenue, resulting in a 14% operating deficit.

Mission

TO FURTHER THE ECONOMIC DEVELOPMENT OF THE NORWICH COMMUNITY THROUGH GROWTH AND DEVELOPMENT OF THE NORWICH BUSINESS PARK, REVITALIZATION OF THE DOWNTOWN NORWICH AREA, AND PRESERVATION OF THE HISTORIC NORWICH HARBOR AND WATERFRONT, BY RECOGNIZING EXISTING INDUSTRY AND COMMERCE, FURTHERING THEIR EXPANSION, AND ENCOURAGING AND ASSITING IN ATTRACTING NEW DEVELOPMENT FOR THE COMMUNITY AND NORWICH AREA

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $3,747,899

Program Service Revenue $0

Investment Income $17,022

Other Revenue $13,442

TOTAL REVENUE $3,778,363

Expense Breakdown

Grants Paid $0

Salaries & Benefits $370,367

Fundraising Expenses $0

Program Expenses $4,313,727

Other Expenses $3,943,360

TOTAL EXPENSES $4,313,727

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,778,363	$1,564,391	+1.4%
Expenses	$4,313,727	$1,581,716	+1.7%
Net Income	$-535,364	$-17,325	+29.9%

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

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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

Governance

Voting Members

Independent Members

Employees

Volunteers

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

$139,539

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHRIS JEWELL	CHAIR	0.50	Officer Director	$0	$0	$0
JOHN MANCINI	TREASURER	0.50	Officer Director	$0	$0	$0
ROBERT STALEY	SECRETARY	0.50	Officer Director	$0	$0	$0
SHIELA HAYES	MEMBER	0.50	Director	$0	$0	$0
JOHN HARRIS	MEMBER	0.50	Director	$0	$0	$0
CATHY SPECIAL	MEMBER	0.50	Director	$0	$0	$0
DEVOL JOYNER	MEMBER	0.50	Director	$0	$0	$0
REV BENJAMIN GREEN	MEMBER	0.50	Director	$0	$0	$0
BRYAN HAYES	MEMBER	0.50	Director	$0	$0	$0
JOHN SALOMONE	MEMBER	0.50	Director	$0	$0	$0
SWARNJIT SINGH	MEMBER	0.50	Director	$0	$0	$0
PETER NYSTROM	MEMBER	0.50	Director	$0	$0	$0
CHRIS LAROSE	MEMBER	0.50	Director	$0	$0	$0
LYNN PERRY	MEMBER	0.50	Director	$0	$0	$0
ANGELINA GARDNER	MEMBER	0.50	Director	$0	$0	$0
JOHN PAUL MEREEN	MEMBER	0.50	Director	$0	$0	$0
KEVIN BROWN	PRESIDENT	40.00	Officer	$139,539	$0	$139,539

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	$3,778,363	$4,313,727	$4,655,103	$-535,364
2024	No data	No data	No data	No data
2023	$6,437,047	$5,712,380	$9,665,971	$724,667
2022	$928,313	$1,275,156	$5,168,285	$-346,843
2021	$823,908	$1,152,140	$6,304,160	$-328,232
2020	$911,046	$1,249,659	$11,556,251	$-338,613
2019	$939,612	$1,207,344	$8,530,709	$-267,732
2018	$768,771	$1,078,501	$9,522,099	$-309,730

NORWICH COMMUNITY DEVELOPMENT CORPORATIO