CHRYSALIS CENTER REAL ESTATE CORPORATION

EIN: 200243489 Community Improvement

HARTFORD, CT

Total Revenue
$3,223,040
Total Expenses
$3,710,129
Total Assets
$46,098,282
Net Assets
$33,853,667
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Financial Trends

Organization Details

Formation Year
2003
Legal Domicile
CT
Principal Officer
SHARON CASTELLI
Phone
8602634400
Tax Period
2024-07-01 to 2025-06-30

CHRYSALIS CENTER REAL ESTATE CORPORATION, founded in 2003, is a community nonprofit in the Community Improvement sector that reported $3.2M in total revenue in fiscal year 2024. Expenses of $3.7M exceeded revenue, resulting in a 15% operating deficit.

Mission

CHRYSALIS CENTER REAL ESTATE CORPORATION IS BOTH A REAL ESTATE HOUSING DEVELOPER AND A HOLDING CORPORATION FOR AFFORDABLE HOUSING FOR CHRYSALIS CENTER, INC.

Program Service Accomplishments

Program 1
Expenses: $434,958 Revenue: $426,545

CORPORATE SITE - MAINTAINS OPERATIONAL HEADQUARTERS FOR CHRYSALIS CENTER, INC. AT 255 HOMESTEAD AVENUE IN HARTFORD AND A SATELLITE OFFICE AT 1338 BALDWIN AVENUE IN WATERBURY.CHRYSALIS CENTER, INC. IS...

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CORPORATE SITE - MAINTAINS OPERATIONAL HEADQUARTERS FOR CHRYSALIS CENTER, INC. AT 255 HOMESTEAD AVENUE IN HARTFORD AND A SATELLITE OFFICE AT 1338 BALDWIN AVENUE IN WATERBURY.CHRYSALIS CENTER, INC. IS A MULTI-SERVICE NON-PROFIT ORGANIZATION SERVING HARTFORD AND GREATER HARTFORD WITH COMMUNITY PROGRAMS AND SERVICES TO A WIDE RANGE OF INDIVIDUALS AND FAMILIES IN NEED OF SUPPORT. THE ORGANIZATION PROVIDES SERVICES IN 5 CORE AREAS: COMMUNITY CASE MANAGEMENT, SUPPORTIVE HOUSING SERVICES, EMPLOYMENT SERVICES, RECOVERY SERVICES AND COMMUNITY CONNECTIONS. CHRYSALIS CENTER SERVES OVER 4,000 INDIVIDUALS EACH YEAR WHO FACE SUCH CHALLENGES AS MENTAL ILLNESS, SUBSTANCE ABUSE, HIVAIDS, HOMELESSNESS, RETURN FROM INCARCERATION AND OTHER CHALLENGES. SERVICES ARE PROVIDED TO ASSIST EACH INDIVIDUAL WITH THE RIGHT SUPPORT TO MAXIMIZE THEIR ABILITY TO RECOVER AND REMAIN PRODUCTIVE AND STABLE IN THEIR COMMUNITY. THE ORGANIZATION IS ACCREDITED BY THE COMMISSION FOR ACCREDITATION OF REHABILITATIVE FACILITIES FOR: COMMUNITY CASE MANAGEMENT, SUPPORTIVE HOUSING SERVICES AND COMMUNITY BASED REHABILITATIVE SERVICES.

Program 2
Expenses: $753,199 Revenue: $398,089

CLOVER GARDENS - AFFORDABLE HOUSINGCLOVER GARDENS IS A HISTORICAL REHABILITATION OF FOUR BUILDINGS INTO 32 UNITS OF AFFORDABLE HOUSING. EIGHT UNITS ARE SET ASIDE FOR NINE INDIVIDUALS WITH AN...

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CLOVER GARDENS - AFFORDABLE HOUSINGCLOVER GARDENS IS A HISTORICAL REHABILITATION OF FOUR BUILDINGS INTO 32 UNITS OF AFFORDABLE HOUSING. EIGHT UNITS ARE SET ASIDE FOR NINE INDIVIDUALS WITH AN INTELLECTUAL OR DEVELOPMENT DISABILITY OR AUTISM SPECTRUM DISORDER. THE BUILDINGS HOUSE AN OFFICE, A CONFERENCE ROOM, A LAUNDRY FACILITY, RESTORED ENTRANCE AREAS, AND ARE HANDICAP ACCESSIBLE. THE LOT PROVIDES ADEQUATE OFF-STREET PARKING FOR THE DEVELOPMENT. CHRYSALIS CENTER THROUGH ITS REAL ESTATE CORPORATION IS THE DEVELOPER AND OWNER AND HARC, INC. IS THE SERVICE PROVIDER FOR THIS PROJECT.

Program 3
Expenses: $542,667 Revenue: $312,078

COURTLAND ARMS - AFFORDABLE/SUPPORTIVE HOUSING - COURTLAND ARMS IS A HISTORICAL REHABILITATION OF A 24-UNIT APARTMENT BUILDING BUILT IN 1924. FOUR UNITS ARE SET ASIDE FOR HOMELESS VETERANS. THE...

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COURTLAND ARMS - AFFORDABLE/SUPPORTIVE HOUSING - COURTLAND ARMS IS A HISTORICAL REHABILITATION OF A 24-UNIT APARTMENT BUILDING BUILT IN 1924. FOUR UNITS ARE SET ASIDE FOR HOMELESS VETERANS. THE BUILDING HOUSES OFFICES, MEETING ROOMS, A RESTORED LOBBY AND IS FULLY HANDICAPPED ACCESSIBLE. AN ADJACENT LOT PROVIDES ADEQUATE PARKING FOR THE DEVELOPMENT. CHRYSALIS CENTER THROUGH ITS REAL ESTATE CORPORATION IS THE DEVELOPER, OWNER AND SERVICE PROVIDER FOR THIS PROJECT.

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Trantor Score

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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 $2,700,028
Investment Income $59,753
Other Revenue $463,259
TOTAL REVENUE $3,223,040

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $3,801,428
Other Expenses $3,710,129
TOTAL EXPENSES $3,710,129

Year-over-Year Comparison

2024 2023 Change
Revenue $3,223,040 $3,173,349 +0.0%
Expenses $3,710,129 $4,436,358 -0.2%
Net Income $-487,089 $-1,263,009 -0.6%
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
7
Independent Members
7
Employees
N/A
Volunteers
N/A

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
6
$616,815
Total Directors
7
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JEAN WAGNER CHAIR 1.00
Officer Director
$0 $0 $0
THOMAS P KENNEDY VICE CHAIR 1.00
Officer Director
$0 $0 $0
JAMES CHRISTOPHER SECRETARY/TREASURER 1.00
Officer Director
$0 $0 $0
YVONNE BENNETT DIRECTOR 1.00
Director
$0 $0 $0
BRIDGET D'ANGELO DIRECTOR 1.00
Director
$0 $0 $0
MARK FISHER DIRECTOR 1.00
Director
$0 $0 $0
KIMALEE WILLIAMS DIRECTOR 1.00
Director
$0 $0 $0
SHARON CASTELLI CHRYSALIS CEO 1.00
Officer
$0 $38,605 $335,066
JOHN MILES CHRYSALIS CFO 1.00
Officer
$0 $4,970 $88,308
JUDITH GOUGH CHRYSALIS COS 1.00
Officer
$0 $20,289 $193,441
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 $3,223,040 $3,710,129 $46,098,282 $-487,089
2024 No data No data No data No data
2023 $7,693,337 $4,041,591 $54,927,179 $3,651,746
2022 $6,009,738 $3,650,765 $47,837,141 $2,358,973
2021 $1,856,040 $2,490,853 $43,383,642 $-634,813
2020 $1,822,181 $2,398,408 $35,784,547 $-576,227
2019 $3,605,556 $1,981,100 $29,871,680 $1,624,456
2018 $1,536,190 $2,021,167 $27,647,942 $-484,977
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