Economic Development Corporation of New Haven (EIN 261854785) - 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

2008

Legal Domicile

Principal Officer

Virginia Kozlowski

Phone

2037851000

Tax Period

2023-01-01 to 2023-12-31

Economic Development Corporation of New Haven, founded in 2008, is a small nonprofit in the Community Improvement sector that reported $668K in total revenue in fiscal year 2023. Revenue fell 62% from the prior year — a significant decline worth monitoring. Expenses of $571K left a modest 15% surplus.

Mission

The Organization's mission is to create a vibrant business environment in New Haven, Connecticut and to serve as a catalyst for attracting human and capital investment to the city and its neighborhoods by retaining and attracting businesses and fostering a positive economic climate.

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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 (2023)

Revenue Breakdown

Contributions & Grants $449,567

Program Service Revenue $218,522

Investment Income $28

Other Revenue $0

TOTAL REVENUE $668,117

Expense Breakdown

Grants Paid $64,050

Salaries & Benefits $384,541

Fundraising Expenses $0

Program Expenses $451,982

Other Expenses $122,274

TOTAL EXPENSES $570,865

Year-over-Year Comparison

	2023	2022	Change
Revenue	$668,117	$1,745,231	-0.6%
Expenses	$570,865	$1,704,050	-0.7%
Net Income	$97,252	$41,181	+1.4%

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

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

$127,846

Total Directors

$127,846

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Virginia Kozlowski	Chief Executive Officer	20.00	Officer Director	$127,846	$0	$127,846
Shelly Saczynski	Chairperson	1.00	Officer Director	$0	$0	$0
Laura Brown	Treasurer	1.00	Officer Director	$0	$0	$0
Mayor Justin Elicker	Member	1.00	Director	$0	$0	$0
Michael Piscitelli	Administrator	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	No data	No data	No data	No data
2023	$668,117	$570,865	$1,003,721	$97,252
2022	$1,745,231	$1,704,050	$1,069,144	$41,181
2021	$2,800,912	$2,966,215	$1,820,406	$-165,303
2020	$3,263,176	$3,598,669	$888,723	$-335,493
2019	$2,854,763	$2,224,337	$2,382,672	$630,426
2018	$2,294,710	$2,241,406	$741,064	$53,304

Economic Development Corporation of New Haven