Putnam Business Association Inc

Nonprofit profile at a glance

EIN
352398349
IRS 990 coverage
2025–2025
Forms available
Form 990 2025, Form 990-EZ 2024, Form 990-N 2013
Location
Putnam, CT, USA
Phone
8604281278
Rating
32
Verdict
REVIEW
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$56,859
Expenses
$53,846
Assets
$31,812
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

  • Kate Cerrone (President)
  • Sheila Frost (Vice President)

People named in this filing

  • Gary Osbrey (Director)
  • Thomas Borner (Director)
  • Laura Jones (Secretary)

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

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Putnam Business Association (PBA) is an organization consisting of local business owners who meet on the second Wednesday of every month with the unified goal of promoting local businesses through the generation, organization, implementation and conduction of local events.In 2024 the following were the PBA's 3 largest events and with the Gross Revenue for each: Fire & Ice Festival - $59,992Rubber Duck Race - $43,288Turkey Drive - $9,510In 2024 were PBA's Expenses for the these activities: Fire & Ice Festival - $62,194Rubber Duck Race - $15,076Turkey Drive - $9,358

What it reported doing in 2025

The Putnam Business Association (PBA) is an organization consisting of local business owners who meet on the second Wednesday of every month with the unified goal of promoting local businesses through the generation, organization, implementation and conduction of local events.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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

REVIEW - The filed numbers largely add up and revenue has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 90
  • Accountability: 0
  • Sustainability: 48
  • Growth: 60

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 10th percentile among comparable filings
  • Governance controls: 0 of 7 controls in place; rating input score 0
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 5.3%; rating input score 57; 57th percentile among comparable filings
  • Total-asset coverage ratio: 0.59; rating input score 21; 21st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 66; 66th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 58; 58th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 5% per year; rating input score 100; 75th percentile among comparable filings
  • Asset growth: 4% per year; rating input score 100; 58th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 0 of 13 board members independent · 0 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 13 people listed
  • Consistency: 11 of 12 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 6 of 6 not reported.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • High — Sustainability: Total-asset coverage ratio scored 21/100.
  • Review — Sustainability: Operating margin scored 57/100.
  • Review — Sustainability: Officer compensation ratio scored 58/100.