Connecticut Business Development Corporation

Nonprofit profile at a glance

EIN
222534136
IRS 990-EZ coverage
2009–2015
Forms available
Form 990-EZ 2015
Location
Wallingford, CT, USA
Phone
2032690549
Rating confidence
Limited
Sector
Community, Neighborhood Development

Reported finances

Revenue
$0
Expenses
$80,597
Assets
$0
Liabilities
$0

Source: IRS Form 990-EZ. Selected filing: tax year 2015. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • VINCENT T PELLEGRINO (PRESIDENT/CHAIRMAN)

People named in this filing

  • PATRICK LEMP (VP/TREASURER/SECRETARY)
  • BERNARD F WILBUR JR (DIRECTOR)
  • VINCENT T PELLEGRINO (PRESIDENT/CHAIRMAN)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2015. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To stimulate economic growth through loan administration.

What it reported doing in 2015

To stimulate economic growth through administration and processing of loans to industrial and commercial companies in the state of Connecticut for the purpose of capital investment. During the year ending september 30, 2016, the organization ceased operations and the remaining assets were donated to two Connecticut tax exempt entities with similar missions.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 82
  • Sustainability: 7
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: 0%; rating input score 0

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 57; 57th percentile among comparable filings

Growth

  • Program expense growth: -26.5% per year; rating input score 0; 17th percentile among comparable filings
  • Revenue growth: -41.1% per year; rating input score 0; 9th percentile among comparable filings
  • Asset growth: -29.7% per year; rating input score 0; 9th percentile among comparable filings

Details

  • Where the money goes: 0% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 8 of 9 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • Filing history: 7 filing years from 2009 to 2015
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • Moderate — Transparency & Controls: Part III transfer expenses within program total did not reconcile in the filed values.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 57/100.