Hartford Business Improvement District
Nonprofit profile at a glance
- EIN
- 412229120
- IRS 990 coverage
- 2014–2024
- Forms available
- Form 990 2024
- Location
- Hartford, CT, USA
- Phone
- 8609858806
- Rating
- 84
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Human Service Organizations
Reported finances
- Revenue
- $1,258,228
- Expenses
- $1,428,242
- Assets
- $552,098
- Liabilities
- $200,559
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
26 people listed
Executive titles in this filing
- JORDON POLON (EXECUTIVE DIRECTOR)
Highest reported compensation
- JORDON POLON (EXECUTIVE DIRECTOR): $141,380 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
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.
What it reported doing in 2024
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.
Operating model
- Revenue model
- Grant-funded. 80% of the money available for current operations came from government grants.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 81
- Transparency & Controls: 86
- Accountability: 100
- Sustainability: 19
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 95.6%; rating input score 96
- Program expense ratio: 84.2%; rating input score 84
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 92.9%; rating input score 93; 19th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 8 of 8 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -13.5%; rating input score 14; 14th percentile among comparable filings
- Total-asset coverage ratio: 0.39; rating input score 18; 18th percentile among comparable filings
- Liabilities to assets ratio: 0.36; rating input score 21; 21st percentile among comparable filings
- Officer compensation ratio: 9.9%; rating input score 37; 37th percentile among comparable filings
Growth
- Program expense growth: 3.5% per year; rating input score 100; 34th percentile among comparable filings
- Revenue growth: 1% per year; rating input score 100; 19th percentile among comparable filings
- Asset growth: 10.1% per year; rating input score 100; 59th percentile among comparable filings
Details
- Where the money goes: 95.6% of revenue deployed · 84.2% of spending went to programs
- Governance: 23 of 23 board members independent · 8 of 8 filing controls reported
- Programs: 3 filed program accomplishments · $1.2M in reported program spending
- Leadership: top reported pay $141K · 26 people listed
- Highest-paid contractors: 1 contractor listed · $703K reported
- Consistency: 30 of 31 current checks pass · 1 finding to review
- Schedules: 4 filed schedules · includes major donors
- Filing history: 10 filing years from 2014 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: Filed and resolved organization relationships.
- 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 — Sustainability: Operating margin scored 14/100.
- High — Sustainability: Total-asset coverage ratio scored 18/100.
- Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
- High — Sustainability: Liabilities to assets ratio scored 21/100.
- Moderate — Sustainability: Officer compensation ratio scored 37/100.