CHRYSALIS CENTER HOUSING DEVELOPMENT CORPORATION INC

EIN: 861766233 501(c)(3) Housing & Shelter

HARTFORD, CT

Total Revenue
$881,490
Total Expenses
$10,011
Total Assets
$2,302,258
Net Assets
$871,479
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2020
Legal Domicile
CT
Principal Officer
SHARON CASTELLI
Phone
8602634431
Tax Period
2023-07-01 to 2024-06-30

CHRYSALIS CENTER HOUSING DEVELOPMENT CORPORATION INC, founded in 2020, is a small nonprofit in the Housing & Shelter sector that reported $881K in total revenue in fiscal year 2023. Revenue fell 82% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $871K, a strong 99% operating margin.

Mission

CHRYSALIS CENTER HOUSING DEVELOPMENT CORPORATION (CCHDC) IS A PRIVATE 501(C)3 HOUSING DEVELOPMENT ORGANIZATION, ESTABLISHED IN 2020, THAT POSITIVELY TRANSFORMS URBAN AND RURAL ENVIRONMENTS BY DEVELOPING AFFORDABLE HOUSING THROUGHOUT CONNECTICUT. CCHDC FOCUSES ON BUILDING HOUSING FOR THE UNDERSERVED AND CREATES QUALITY HOUSING THROUGHOUT CONNECTICUT THAT IS SAFE AND AFFORDABLE AND FOSTERS A SENSE OF HOME TO CREATE A HEALTHY LIVING ENVIRONMENT.

Program Service Accomplishments

Program 1
Expenses: $10,011

THE BERKOWITZ IS THE REHABILITATION OF A VACANT, HISTORIC BUILDING AT 610-626 MAIN STREET, NEW BRITAIN INTO 24 STUDIO, ONE AND TWO-BEDROOM UNITS, WHICH OPENED IN DECEMBER 2023 AND IS LOCATED IN THE...

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THE BERKOWITZ IS THE REHABILITATION OF A VACANT, HISTORIC BUILDING AT 610-626 MAIN STREET, NEW BRITAIN INTO 24 STUDIO, ONE AND TWO-BEDROOM UNITS, WHICH OPENED IN DECEMBER 2023 AND IS LOCATED IN THE LITTLE POLAND NEIGHBORHOOD. SURROUNDING THE HOUSING SITE IS A COMMUNITY HEALTH CENTER, GROCERY AND SHOPPING AT SAV-A-LOT SHOPPING CENTER, THE GIRLS AND BOYS CLUB OF NEW BRITAIN, URGENT CARE, RESTAURANTS, AND WALGREENS, ALL WALKABLE FROM THE SITE. DOWNTOWN EMPLOYMENT, CITY HALL, PUBLIC LIBRARY, AND CULTURAL EVENTS AT THE HOLE IN THE WALL THEATER AND TRINITY ON MAIN ARE ALSO WALKABLE FROM THE PROJECT SITE. ALL UNITS ARE AFFORDABLE HOUSING AT 50% AMI.

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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 $881,490
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $881,490

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $10,011
Other Expenses $10,011
TOTAL EXPENSES $10,011

Year-over-Year Comparison

2023 2022 Change
Revenue $881,490 $4,932,276 -0.8%
Expenses $10,011 $12,623 -0.2%
Net Income $871,479 $4,919,653 -0.8%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
8
Independent Members
8
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
5
$756,501
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TIA CINTRON CHAIR 1.00
Officer Director
$0 $0 $0
THOMAS P KENNEDY VICE CHAIR 1.00
Officer Director
$0 $0 $0
JAMES CHRISTOPHER SECRETARY/TREASURER 1.00
Director
$0 $0 $0
BRIDGET D'ANGELO DIRECTOR 1.00
Director
$0 $0 $0
MARK FISHER DIRECTOR 1.00
Director
$0 $0 $0
SHARON CASTELLI CHRYSALIS CEO 1.00
Officer
$0 $36,169 $340,820
WENDY D BRIERE CHRYSALIS CFO 1.00
Officer
$0 $43,070 $226,256
JUDITH GOUGH CHRYSALIS COS 1.00
Officer
$0 $19,131 $189,425
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 $881,490 $10,011 $2,302,258 $871,479
2023 $4,932,276 $12,623 $5,644,860 $4,919,653
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