HAMDEN ECONOMIC DEVELOPMENT CORPOR… - 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

2008

Legal Domicile

Principal Officer

SCOTT JACKSON

Phone

2032877033

Tax Period

2023-07-01 to 2024-06-30

HAMDEN ECONOMIC DEVELOPMENT CORPORATION, founded in 2008, is a community nonprofit in the Community Improvement sector that reported $3.6M in total revenue in fiscal year 2023. Revenue surged 45% from the prior year, signaling strong growth momentum. Expenses of $3.3M left a modest 8% surplus.

Mission

TO ENCOURAGE ECONOMIC GROWTH AND DEVELOPMENT THROUGHOUT HAMDEN AND IT'S SURROUNDING COMMUNITIES

Program Service Accomplishments

Program 1

Expenses: $3,140,248

THE ORGANIZATION ACQUIRES, OPERATES AND CONVEYS REAL PROPERTY FOR THE PURPOSE OF MAKING IMPROVEMENTS DESIGNED TO ENHANCE THE ECONOMIC PRODUCTIVITY OF THE COMMUNITY AND SURROUNDING NEIGHBORHOODS.

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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 $3,553,669

Program Service Revenue $0

Investment Income $7,412

Other Revenue $0

TOTAL REVENUE $3,561,081

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $3,140,248

Other Expenses $3,261,208

TOTAL EXPENSES $3,261,208

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,561,081	$2,458,138	+0.4%
Expenses	$3,261,208	$3,018,646	+0.1%
Net Income	$299,873	$-560,508	-1.5%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ERIC WEST	TREASURER	1.00	Officer Director	$0	$0	$0
STEVEN ROLNICK	PRESIDENT	1.00	Officer Director	$0	$0	$0
THOMAS CARIGLIO	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
JOSEPH ACETO	DIRECTOR	1.00	Director	$0	$0	$0
SCOTT JACKSON	EXECUTIVE DIRECTOR	15.00	Officer Director	$0	$0	$0
JON TERRY	SECRETARY	1.00	Officer Director	$0	$0	$0
ANTHONY ROSSLEY	DIRECTOR	1.00	Director	$0	$0	$0
CATHY DEFRANCES-VITTORIO	DIRECTOR	1.00	Director	$0	$0	$0
ROB LEIGHTON	DIRECTOR	1.00	Director	$0	$0	$0
DAVID GOLEBIEWSKI	DIRECTOR	1.00	Director	$0	$0	$0
JOHN NUTCHER	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
2025	No data	No data	No data	No data
2024	$3,561,081	$3,261,208	$909,101	$299,873
2023	$2,458,138	$3,018,646	$2,235,556	$-560,508
2022	$1,657,660	$1,766,367	$3,046,023	$-108,707
2021	$167,824	$7,078,777	$3,370,551	$-6,910,953
2020	$2,012,176	$475,604	$10,155,667	$1,536,572
2019	$4,523,808	$446,921	$10,097,253	$4,076,887
2018	$882,746	$485,160	$4,877,559	$397,586

HAMDEN ECONOMIC DEVELOPMENT CORPORATION