SOUTHSOUTHWEST ELDERLY HOUSING CORPORATION INC

EIN: 061172515 501(c)(3) Housing & Shelter

HARTFORD, CT

Total Revenue
$335,869
Total Expenses
$457,704
Total Assets
$1,240,621
Net Assets
$1,149,139
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1986
Legal Domicile
CT
Principal Officer
KATE KELLETT
Phone
8607683300
Tax Period
2023-01-01 to 2023-12-31

SOUTHSOUTHWEST ELDERLY HOUSING CORPORATION INC, founded in 1986, is a small nonprofit in the Housing & Shelter sector that reported $336K in total revenue in fiscal year 2023. Revenue decreased 14% compared to the prior year. Expenses of $458K exceeded revenue, resulting in a 36% operating deficit.

Mission

TO PROVIDE SAFE AND AFFORDABLE ELDERLY HOUSING FOR SOUTH/SOUTHWEST HARTFORD NEIGHBORHOOD RESIDENTS IN ORDER TO MINIMIZE THE DISPLACEMENT OF ELDERLY PEOPLE AND PRESERVE THE AREA'S RICH ETHNIC MIX.

Program Service Accomplishments

Program 1
Expenses: $409,152 Revenue: $289,792

SOUTH/SOUTHWEST ELDERLY HOUSING CORPORATION, INC. WAS CREATED TO PROVIDE LOW INCOME PUBLIC HOUSING FOR QUALIFIED INVIDUALS IN ACCORDANCE WITH THE RULES AND REGULATIONS PRESCRIBED BY THE CONNECTICUT...

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SOUTH/SOUTHWEST ELDERLY HOUSING CORPORATION, INC. WAS CREATED TO PROVIDE LOW INCOME PUBLIC HOUSING FOR QUALIFIED INVIDUALS IN ACCORDANCE WITH THE RULES AND REGULATIONS PRESCRIBED BY THE CONNECTICUT DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT. THE CORPORATION OPERATES 36 UNITS OF THE ELDERLY LOW AND MODERATE INCOME HOUSING KNOWN AS MARY J. CARUSO GABLES IN HARTFORD, CONNECTICUT.

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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 (2023)

Revenue Breakdown

Contributions & Grants $7,800
Program Service Revenue $289,792
Investment Income $3,241
Other Revenue $35,036
TOTAL REVENUE $335,869

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $409,152
Other Expenses $457,704
TOTAL EXPENSES $457,704

Year-over-Year Comparison

2023 2022 Change
Revenue $335,869 $388,378 -0.1%
Expenses $457,704 $441,302 +0.0%
Net Income $-121,835 $-52,924 +1.3%
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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Liquidity & Cash Position

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Governance

Voting Members
4
Independent Members
4
Employees
N/A
Volunteers
4

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
2
$0
Total Directors
4
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KATE KELLETT PRESIDENT 0.10
Officer Director
$0 $0 $0
BARBARA KEATING TREASURER/SECRETARY 0.10
Officer Director
$0 $0 $0
LORI SHIELDS DIRECTOR 0.10
Director
$0 $0 $0
LIZ SITLER LPC DIRECTOR 0.10
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
2024 No data No data No data No data
2023 $335,869 $457,704 $1,240,621 $-121,835
2022 $388,378 $441,302 $1,391,643 $-52,924
2021 $459,426 $386,221 $1,370,992 $73,205
2020 $288,322 $396,745 $1,355,682 $-108,423
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