HOUSATONIC INDUSTRIAL DEVELOPMENT CORP

EIN: 237061237

DANBURY, CT

Total Revenue
$127,022
Total Expenses
$170,188
Total Assets
$151,849
Net Assets
$139,549
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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
1969
Legal Domicile
CT
Principal Officer
LEONARD VOLPE JR
Phone
2037430306
Tax Period
2023-10-01 to 2024-09-30

HOUSATONIC INDUSTRIAL DEVELOPMENT CORP, founded in 1969, is a small nonprofit that reported $127K in total revenue in fiscal year 2023. Revenue fell 28% from the prior year — a significant decline worth monitoring. Expenses of $170K exceeded revenue, resulting in a 34% operating deficit.

Mission

ORGANIZATION IS DESIGNED TO FURTHER THE ECONOMIC DEVELOPMENT IN THE STATE OF CONNECTICUT AND TO PROMOTE AND ASSIST THE GROWTH AND DEVELOPMENT OF SMALL BUSINESS CONCERNS IN THAT GEOGRAPHIC REGION.

Program Service Accomplishments

Program 1
Expenses: $106,390 Revenue: $126,904

MORTGAGE LOANS TO PROMOTE THE GROWTH OF SMALL BUSINESSES IN ASSOCIATION WITH THE SMALL BUSINESS ADMINISTRATION. CURRENTLY APPROXIMATELY 52 COMPANIES ARE BEING ASSISTED.

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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 $0
Program Service Revenue $126,904
Investment Income $118
Other Revenue $0
TOTAL REVENUE $127,022

Expense Breakdown

Grants Paid $0
Salaries & Benefits $118,320
Fundraising Expenses $0
Program Expenses $106,390
Other Expenses $51,868
TOTAL EXPENSES $170,188

Year-over-Year Comparison

2023 2022 Change
Revenue $127,022 $175,394 -0.3%
Expenses $170,188 $164,519 +0.0%
Net Income $-43,166 $10,875 -5.0%
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

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Governance

Voting Members
9
Independent Members
8
Employees
2
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
4
$72,000
Total Directors
9
$72,000
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ELIZABETH STOCKER CHAIRMAN, TREASURER, ASSISTANT SECRETARY 1.00
Officer Director
$0 $0 $0
MICHAEL YAO VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
KEVIN MCMAHON SECRETARY, ASSISTANT TREASURER 1.00
Officer Director
$0 $0 $0
PJ PRUNTY DIRECTOR 1.00
Director
$0 $0 $0
JANICE CHRZESCIJANEK DIRECTOR 1.00
Director
$0 $0 $0
NELSON MERCHAN DIRECTOR 1.00
Director
$0 $0 $0
LEONARD VOLPE EXECUTIVE DIRECTOR 40.00
Officer Director
$72,000 $0 $72,000
FRANCIS G PENNAROLA DIRECTOR 1.00
Director
$0 $0 $0
AUGUSTUS RYER DIRECTOR 1.00
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
2024 $127,022 $170,188 $151,849 $-43,166
2023 $175,394 $164,519 $194,715 $10,875
2022 $176,305 $163,274 $191,140 $13,031
2021 $173,756 $163,484 $208,085 $10,272
2020 $143,104 $164,808 $157,537 $-21,704
2019 $165,737 $170,339 $183,941 $-4,602
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