NAUGATUCK ECONOMIC DEVELOPMENT COR… - 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

2002

Legal Domicile

Principal Officer

REBECCA ZANDVLIET

Phone

2037234411

Tax Period

2024-07-01 to 2025-06-30

NAUGATUCK ECONOMIC DEVELOPMENT CORPORATION, founded in 2002, is a small nonprofit in the Community Improvement sector that reported $125K in total revenue in fiscal year 2024. Expenses of $109K left a modest 13% surplus.

Mission

TO PROMOTE ECONOMIC DEVELOPMENT IN THE BOROUGH OF NAUGATUCK, CONNECTICUT

Program Service Accomplishments

Program 1

Expenses: $108,952

ECONOMIC DEVELOPMENT IN THE BOROUGH OF NAUGATUCK CONNECTICUT

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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 (2024)

Revenue Breakdown

Contributions & Grants $125,130

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $125,130

Expense Breakdown

Grants Paid $0

Salaries & Benefits $86,269

Fundraising Expenses $0

Program Expenses $108,952

Other Expenses $22,683

TOTAL EXPENSES $108,952

Year-over-Year Comparison

	2024	2023	Change
Revenue	$125,130	$123,045	+0.0%
Expenses	$108,952	$123,788	-0.1%
Net Income	$16,178	$-743	-22.8%

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

Total Directors

Key Employees

$57,115

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROBERT MEZZO	SECRETARY	1.00	Officer Director	$0	$0	$0
REBECCA ZANDVLIET	CHAIRMAN	1.00	Officer Director	$0	$0	$0
CARLOS SANTOS	VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
CHRISTOPHER MONTINI	DIRECTOR	1.00	Director	$0	$0	$0
LISA SHAPPY	DIRECTOR	1.00	Director	$0	$0	$0
DOREEN SORRENTINO	DIRECTOR	1.00	Director	$0	$0	$0
SETH BRONKO	DIRECTOR	1.00	Director	$0	$0	$0
N WARREN HESS	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT NETH	DIRECTOR	1.00	Director	$0	$0	$0
PEDRO PIRES	TREASURER	1.00	Officer Director	$0	$0	$0
WILLIAM HIGGINS	DIRECTOR	1.00	Director	$0	$0	$0
CHESTER CORNACCHIA	DIRECTOR	1.00	Director	$0	$0	$0
ROSA REBIMBAS	DIRECTOR	1.00	Director	$0	$0	$0
MARCELO MARTINS	DIRECTOR	1.00	Director	$0	$0	$0
LINDA MAYFIELD	DIRECTOR	1.00	Director	$0	$0	$0
ALAN MONTEIRO	DIRECTOR	1.00	Director	$0	$0	$0
FRED DLUGOKECKI	DIRECTOR	1.00	Director	$0	$0	$0
VINCE SIEFERT	DIRECTOR	1.00	Director	$0	$0	$0
RON PULGIESE	CEO	40.00	Key Emp	$57,115	$0	$57,115

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	$125,130	$108,952	$40,947	$16,178
2024	$123,045	$123,788	$27,835	$-743
2023	$127,680	$123,114	$29,187	$4,566
2022	$124,830	$122,427	$23,528	$2,403
2021	$131,500	$118,657	$20,589	$12,843
2020	$120,312	$120,118	$7,369	$194
2019	$128,500	$121,462	$6,484	$7,038

NAUGATUCK ECONOMIC DEVELOPMENT CORPORATION