HARTFORD BUSINESS IMPROVEMENT DIST… - Form 990 Financial Data

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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

2006

Legal Domicile

Principal Officer

JORDAN POLON

Phone

8609858806

Tax Period

2023-07-01 to 2024-06-30

HARTFORD BUSINESS IMPROVEMENT DISTRICT, founded in 2006, is a community nonprofit in the Human Services sector that reported $1.4M in total revenue in fiscal year 2023.

Mission

TO BRING ABOUT POSITIVE AND LASTING CHANGE BY ENHANCING THE ECONOMIC VITALITY AND QUALITY OF LIFE WITHIN THE DISTRICT. WORKING COLLECTIVELY WITH THE MAYOR'S OFFICE, POLICE DEPARTMENT AND PUBLIC WORKS DEPARTMENT, AS WELL AS MORE THAN 100 PROPERTY OWNERS AND OTHER ORGANIZATIONS WITH THE DISTRICT, HARTFORD BUSINESS IMPROVEMENT DISTRICT WILL ACCOMPLISH ITS MISSION THROUGH INITIATIVES THAT WILL CREATE A SAFER, CLEANER AND MORE ATTRACTIVE ENVIRONMENT FOR EMPLOYEES, VISITORS AND RESIDENTS THAT FREQUENT THE DISTRICT.

Program Service Accomplishments

Program 1

Expenses: $724,914

CLEANING & SECURITY AMBASSADOR PROGRAM - DAILY ON STREET CLEAN STREET AND SECURITY OPERATIONS WITHIN THE DISTRICT

Program 2

Expenses: $187,698 Revenue: $79,470

PROMOTING THE CITY - PROMOTING THE CITY WAS FOCUSED ON PROMOTING HARTFORD'S ASSETS TO CREATE A RELEVANT AND POSITIVE MESSAGE ABOUT CONNECTICUT'S CAPITAL CITY, AND GETTING THE HARTFORD BUSINESS...

PROMOTING THE CITY - PROMOTING THE CITY WAS FOCUSED ON PROMOTING HARTFORD'S ASSETS TO CREATE A RELEVANT AND POSITIVE MESSAGE ABOUT CONNECTICUT'S CAPITAL CITY, AND GETTING THE HARTFORD BUSINESS IMPROVEMENT DISTRICT'S NAME OUT TO THE COMMUNITY.

Program 3

Expenses: $297,770 Revenue: $135,170

PLACEMAKING AND EVENTS - TO CREATE AND BEAUTIFY PROGRAM SPACES IN THE DISTRICT

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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 $1,190,328

Program Service Revenue $214,640

Investment Income $0

Other Revenue $766

TOTAL REVENUE $1,405,734

Expense Breakdown

Grants Paid $0

Salaries & Benefits $410,005

Fundraising Expenses $0

Program Expenses $1,210,382

Other Expenses $1,016,506

TOTAL EXPENSES $1,426,511

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,405,734	$1,358,342	+0.0%
Expenses	$1,426,511	$1,330,925	+0.1%
Net Income	$-20,777	$27,417	-1.8%

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

$135,032

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JORDAN POLON	EXECUTIVE DIRECTOR	40.00	Officer	$110,927	$24,105	$135,032
WAYNE BENJAMIN	CHAIR	0.75	Officer Director	$0	$0	$0
TIM MOORE	VICE CHAIR	0.50	Officer Director	$0	$0	$0
DINA SILVA	SECRETARY	0.50	Officer Director	$0	$0	$0
JOHN WALSH	TREASURER	0.50	Officer Director	$0	$0	$0
CYNTHIA HUVELDT	IMMEDIATE PAST CHAIR	0.50	Director	$0	$0	$0
SHELLEY BEST	COMMISSIONER	0.25	Director	$0	$0	$0
MARY BUJEAUD	COMMISSIONER	0.25	Director	$0	$0	$0
JULIO CONCEPCION	COMMISSIONER	0.25	Director	$0	$0	$0
DAVE FAGONE	COMMISSIONER	0.25	Director	$0	$0	$0
TRACY GOVE	COMMISSIONER	0.25	Director	$0	$0	$0
ANKIT HARPALDAS	COMMISSIONER	0.25	Director	$0	$0	$0
JORDAN HAYNES	COMMISSIONER	0.25	Director	$0	$0	$0
HANK HOFFMAN	COMMISSIONER	0.25	Director	$0	$0	$0
ERIN HOWARD	COMMISSIONER	0.25	Director	$0	$0	$0
ELIZABETH JUDD	COMMISSIONER	0.25	Director	$0	$0	$0
EDWARD KAESER	COMMISSIONER	0.25	Director	$0	$0	$0
JIM MILLER CONSTITUTION PLAZA	COMMISSIONER	0.25	Director	$0	$0	$0
CHELSEA POLLARD	COMMISSIONER	0.25	Director	$0	$0	$0
MARILYN ROSSETTI	COMMISSIONER	0.25	Director	$0	$0	$0
EMILY VAN SCOY	COMMISSIONER	0.25	Director	$0	$0	$0
BREANA VESSICHIO	COMMISSIONER	0.25	Director	$0	$0	$0
NICK VISONE	COMMISSIONER	0.25	Director	$0	$0	$0
SHIRLEY SURGEON	COMMISSIONER (UNTIL 07/23)	1.00	Director	$0	$0	$0
DAVID JAKUBOWSKI SR	COMMISSIONER (UNTIL 09/23)	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
2025	No data	No data	No data	No data
2024	$1,405,734	$1,426,511	$759,051	$-20,777
2023	$1,358,342	$1,330,925	$680,222	$27,417
2022	$1,371,568	$1,274,737	$658,302	$96,831
2021	$1,081,072	$1,009,386	$517,856	$71,686
2019	$1,094,754	$1,076,104	$412,533	$18,650
2018	$1,127,040	$1,107,081	$398,714	$19,959

HARTFORD BUSINESS IMPROVEMENT DISTRICT