Tobacco Valley Development Corporation

Nonprofit profile at a glance

EIN
823312064
IRS 990 coverage
2022–2024
Forms available
Form 990 2024
Location
Enfield, CT, USA
Phone
8607457493
Rating
47
Verdict
MIXED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$11,182
Expenses
$3,550
Assets
$558,899
Liabilities
$199,249

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • MICHAEL STEFANOWICZ (PRESIDENT)
  • KYLE BELL (VICE PRESIDENT)
  • SCOTT C BERTRAND (EXECUTIVE DIRECTOR/CEO)

People named in this filing

  • MICHAEL STEFANOWICZ (PRESIDENT)
  • KYLE BELL (VICE PRESIDENT)
  • VINCENT WESELIZA (SECRETARY/TREASURER)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Develop, redevelop, manage, finance, sponsor, invest in, own operate and/or expand the availability of low & moderate income, disabled, elderly, mixed-income and/or mixed-use affordable housing in & around enfield, ct.

What it reported doing in 2024

Pre-development activities related to the enfield manor & extension redevelopment project.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. 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: 76
  • Sustainability: 80
  • Growth: 20

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: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 68.3%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 157.44; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.36; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -133.1% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: 24% per year; rating input score 100; 93rd percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 6 of 6 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 12 of 12 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2022 to 2024
  • 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: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.