Civic Intelligence

Shelton Economic Development Corp

EIN 06-1092685 • 501(c)3 • Shelton, CT

Profile

Advance the economic development and public welfare of the city of shelton by increasing employment opportunities and expanding business and industy for the citizens of the area.

25 Brook St Ste 203Shelton, CT 06484

www.sheltonedc.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

90th percentile

0.69x

Higher debt load relative to assets than 90% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

91st percentile

0.41x

Higher debt load relative to revenue than 91% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Net Margin

39th percentile

-2.7%

Higher net margin than 39% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Top Officer Pay

99th percentile

$132,902

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 35.1% of source-year revenue.

501(c)3 • <$500k nonprofits • Source year 2024

Asset Growth

28th percentile

-26%

Faster asset growth than 28% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

44th percentile

-7.5%

Faster revenue growth than 44% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets90th percentile

Assets

Down

$222,684

Down $79,705 (-26%) from 2023

Liabilities

Down

$154,721

Down $69,368 (-31%) from 2023

Net Assets

Down

$67,963

Down $10,337 (-13%) from 2023

Operations
Liabilities / Revenue91st percentileNet Margin39th percentile

Revenue

Down

$378,893

Down $30,710 (-7.5%) from 2023

Expenses

Down

$389,230

Down $25,197 (-6.1%) from 2023

Net Income

Down

-$10,337

Down $5,513 (-114%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth28th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$400K$300K$200K$100K$0Assets 2011: $343,832Liabilities 2011: $76,154Net Assets 2011: $267,6782011Assets 2012: $286,220Liabilities 2012: $63,543Net Assets 2012: $222,6772012Assets 2013: $257,212Liabilities 2013: $55,877Net Assets 2013: $201,3352013Assets 2014: $277,025Liabilities 2014: $71,178Net Assets 2014: $205,8472014Assets 2015: $392,607Liabilities 2015: $179,144Net Assets 2015: $213,4632015Assets 2016: $340,219Liabilities 2016: $110,070Net Assets 2016: $230,1492016Assets 2017: $339,125Liabilities 2017: $102,099Net Assets 2017: $237,0262017Assets 2018: $304,250Liabilities 2018: $91,160Net Assets 2018: $213,0902018Assets 2019: $239,221Liabilities 2019: $116,700Net Assets 2019: $122,5212019Assets 2020: $225,928Liabilities 2020: $91,143Net Assets 2020: $134,7852020Assets 2021: $225,396Liabilities 2021: $121,401Net Assets 2021: $103,9952021Assets 2022: $314,497Liabilities 2022: $231,373Net Assets 2022: $83,1242022Assets 2023: $302,389Liabilities 2023: $224,089Net Assets 2023: $78,3002023Assets 2024: $222,684Liabilities 2024: $154,721Net Assets 2024: $67,9632024

Highlighted filing

2024

Assets$222,684
Liabilities$154,721
Net Assets$67,963
Open 2024 Filing

Operations Trend

Revenue Growth44th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$600K$400K$200K$0-$200KRevenue 2011: $373,043Expenses 2011: $386,051Net Income 2011: -$13,0082011Revenue 2012: $361,512Expenses 2012: $384,613Net Income 2012: -$23,1012012Revenue 2013: $356,081Expenses 2013: $370,805Net Income 2013: -$14,7242013Revenue 2014: $383,082Expenses 2014: $401,776Net Income 2014: -$18,6942014Revenue 2015: $537,583Expenses 2015: $530,181Net Income 2015: $7,4022015Revenue 2016: $478,372Expenses 2016: $499,913Net Income 2016: -$21,5412016Revenue 2017: $421,613Expenses 2017: $414,737Net Income 2017: $6,8762017Revenue 2018: $382,047Expenses 2018: $405,983Net Income 2018: -$23,9362018Revenue 2019: $335,900Expenses 2019: $426,469Net Income 2019: -$90,5692019Revenue 2020: $421,968Expenses 2020: $409,704Net Income 2020: $12,2642020Revenue 2021: $559,919Expenses 2021: $590,709Net Income 2021: -$30,7902021Revenue 2022: $513,356Expenses 2022: $534,227Net Income 2022: -$20,8712022Revenue 2023: $409,603Expenses 2023: $414,427Net Income 2023: -$4,8242023Revenue 2024: $378,893Expenses 2024: $389,230Net Income 2024: -$10,3372024

Highlighted filing

2024

Revenue$378,893
Expenses$389,230
Net Income-$10,337
Open 2024 Filing

Filings

Most recent year

2024 • Form 990XML pending. An XML filing is linked for this year, but detailed extraction is still pending.

Open filing
Assets
$222,684
Liabilities
$154,721
Net assets
$67,963
Revenue
$378,893
Expenses
$389,230
Net income
-$10,337
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.23$1.55$0.68$3.79$3.89$0.10
2023Detailed filing. Detailed filing data is available for this year.$3.02$2.24$0.78$4.10$4.14$0.05
2022Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$3.14$2.31$0.83$5.13$5.34$0.21
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.25$1.21$1.04$5.60$5.91$0.31
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.26$0.91$1.35$4.22$4.10$0.12
2019Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$2.39$1.17$1.23$3.36$4.26$0.91
2018Detailed filing. Detailed filing data is available for this year.$3.04$0.91$2.13$3.82$4.06$0.24
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.39$1.02$2.37$4.22$4.15$0.07
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.40$1.10$2.30$4.78$5.00$0.22
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.93$1.79$2.13$5.38$5.30$0.07
2014Detailed filing. Detailed filing data is available for this year.$2.77$0.71$2.06$3.83$4.02$0.19
2013Summary only. Only limited summary data is available for this year.$2.57$0.56$2.01$3.56$3.71$0.15
2012Summary only. Only limited summary data is available for this year.$2.86$0.64$2.23$3.62$3.85$0.23
2011Summary only. Only limited summary data is available for this year.$3.44$0.76$2.68$3.73$3.86$0.13
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2023 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Sep 24, 2024
Return Version
2023v5.0
Gross Receipts
$409,603
Mission and Program Overview

Mission

Advance the economic development and public welfare of the city of shelton by increasing employment opportunities and expanding business and industy for the citizens of the area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$99,965$74,448▼ $25,517
Pledges and Grants Receivable$35,000$62,825▲ $27,825
Accounts Receivable$20,972$20,392▼ $580
Land, Buildings, and Equipment, Net$5,791$6,904▲ $1,113
Total Assets$314,497$302,389▼ $12,108
Other Assets Total$152,769$137,820▼ $14,949
Liabilities
Other Liabilities$152,769$137,820▼ $14,949
Deferred Revenue$53,975$58,400▲ $4,425
Accounts Payable and Accrued Expenses$24,629$27,869▲ $3,240
Total Liabilities$231,373$224,089▼ $7,284
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$69,749$71,675▲ $1,926
Net Assets With Donor Restrictions$13,375$6,625▼ $6,750
Total Net Assets Fund Balance$83,124$78,300▼ $4,824
Total Liabilities and Net Assets / Fund Balance$314,497$302,389▼ $12,108

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$6,904$30,502$37,406
Other Assets Org$137,820--
Compensation and Service Providers
Top Officer Pay99th percentile

Board Members and Trustees

NameTitle
William PartingtonBoard Chair
Paul GrimmerPresident
Michelle KawalautzkiVice Chair
Patrick CareyVice Chair
Fred RuggioSecretary
Alberto MartinsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$408,392
Program Service Revenue
$0
Investment Income
$1,211
Other Revenue
$0
All Other Contributions
$57,349
Change in Net Assets
$-4,824

Audited Revenue Reconciliation

Revenue per Audited Statements
$409,603
Total Revenue per Audited Statements
$409,603
Total Revenue per Form 990
$409,603
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$282,676
Other Expenses$131,751
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$172,166$43,042-$215,208
Fees for Services Other$75,014$5,484-$80,498
Other Employee Benefits$23,030$5,758-$28,788
Occupancy$1,959$20,864-$22,823
Pension Plan Contributions$17,112$4,278-$21,390
Payroll Taxes$13,832$3,458-$17,290
Fees for Services Accounting-$16,200-$16,200
Office Expenses$562$4,127-$4,689
Insurance-$3,985-$3,985
Depreciation Depletion$224$2,018-$2,242
Travel$657$657-$1,314
Total Functional Expenses$304,556$109,871$0$414,427

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$414,427
Total Expenses per Audited Statements$414,427
Total Expenses per Form 990$414,427
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Schaible Realty LLCLandlordRent and UtilitiesNo-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Right of Use Noncurrent$121,926
Lease Right of Use -current$15,894
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
Yes
Business relationship with family members
No
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“Form 990 is reviewed by officers before submission.”

Form 990, Page 6, Part VI, Line 12C

“The organization advises its officers and directors of the conflict of interest policy as enumerated in section 33-457 of the connecticut general statutes non-stock corporation act wherein full disclosure, fairness and voting by disinterested directors are required elements.”

Form 990, Page 6, Part VI, Line 15A

“The president receives an annual review by the officers. Performance and comparatives are taken into consideration in the process.”

Form 990, Page 6, Part VI, Line 19

“Documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Shelton Economic Development Corp
EIN
06-1092685
Phone
2039242521
Address
25 BROOK ST STE 203, SHELTON, CT 06484

Signing Officer

Name
Paul Grimmer
Title
President
Phone
2039242521
Signed
2024-09-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William Partington
Formed
1983
Legal Domicile
Ct
Voting Board Members
12
Independent Board Members
37
Employees
2

Preparer

Firm
Raymond a Oppel CPA LLC
Address
259 CORAM AVE, SHELTON, CT 06484
Preparer
Raymond a Oppel
Phone
2039296616
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“Promote economic development by facilitating site studies,”

Form 990, Part IX, Line 11G

“Consultants 63,625 0 0 events 2,617 0 0 conference 3,288 0 0 business expenses 5,484 5,484 0 total 75,014 5,484 0”

Raw XML Appendix346 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
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IRS990/AllOtherContributionsAmt057349
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IRS990/BooksInCareOfDetail/PhoneNum02039242521
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IRS990/BooksInCareOfDetail/USAddress/CityNm0SHELTON
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IRS990/BooksInCareOfDetail/USAddress/ZIPCd006484
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IRS990/CreditCounselingInd0false
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt0408392
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt01211
IRS990/CYOtherExpensesAmt0131751
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt00
IRS990/CYRevenuesLessExpensesAmt0-4824
IRS990/CYSalariesCompEmpBnftPaidAmt0282676
IRS990/CYTotalExpensesAmt0414427
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IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt0409603
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IRS990/DepreciationDepletionGrp/ManagementAndGeneralAmt02018
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IRS990/DepreciationDepletionGrp/TotalAmt02242
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IRS990/DescribedInSection501c3Ind0true
IRS990/DisregardedEntityInd0false
IRS990/DocumentRetentionPolicyInd0true
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IRS990/DonorRestrictionNetAssetsGrp/BOYAmt013375
IRS990/DonorRestrictionNetAssetsGrp/EOYAmt06625
IRS990/DonorRstrOrQuasiEndowmentsInd0false
IRS990/ElectionOfBoardMembersInd0false
IRS990/EmployeeCnt02
IRS990/EmploymentTaxReturnsFiledInd0true
IRS990/EngagedInExcessBenefitTransInd0false
IRS990/ExpenseAmt078416
IRS990/FamilyOrBusinessRlnInd0false
IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt016200
IRS990/FeesForServicesAccountingGrp/TotalAmt016200
IRS990/FeesForServicesOtherGrp/ManagementAndGeneralAmt05484
IRS990/FeesForServicesOtherGrp/ProgramServicesAmt075014
IRS990/FeesForServicesOtherGrp/TotalAmt080498
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IRS990/ForeignFinancialAccountInd0false
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IRS990/Form990PartVIISectionAGrp/OfficerInd2X
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IRS990/Form990PartVIISectionAGrp/OfficerInd5X
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
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IRS990/Form990PartVIISectionAGrp/PersonNm1WILLIAM PARTINGTON
IRS990/Form990PartVIISectionAGrp/PersonNm2PATRICK CAREY
IRS990/Form990PartVIISectionAGrp/PersonNm3ALBERTO MARTINS
IRS990/Form990PartVIISectionAGrp/PersonNm4MICHELLE KAWALAUTZKI
IRS990/Form990PartVIISectionAGrp/PersonNm5FRED RUGGIO
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1BOARD CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt5SECRETARY
IRS990/Form990ProvidedToGvrnBodyInd0false
IRS990/FormationYr01983
IRS990/FormerOfcrEmployeesListedInd0false
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IRS990/FundraisingActivitiesInd0false
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt012
IRS990/GovernmentGrantsAmt0351043
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IRS990/GrantsToOrganizationsInd0false
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IRS990/IndependentAuditFinclStmtInd0true
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IRS990/IRPDocumentCnt04
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IRS990/LoanOutstandingInd0false
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IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
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IRS990/MoreThan5000KToIndividualsInd0false
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IRS990/ReportOtherLiabilitiesInd0true
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PROMOTE ECONOMIC DEVELOPMENT BY FACILITATING SITE STUDIES,
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS REVIEWED BY OFFICERS BEFORE SUBMISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION ADVISES ITS OFFICERS AND DIRECTORS OF THE CONFLICT OF INTEREST POLICY AS ENUMERATED IN SECTION 33-457 OF THE CONNECTICUT GENERAL STATUTES NON-STOCK CORPORATION ACT WHEREIN FULL DISCLOSURE, FAIRNESS AND VOTING BY DISINTERESTED DIRECTORS ARE REQUIRED ELEMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE PRESIDENT RECEIVES AN ANNUAL REVIEW BY THE OFFICERS. PERFORMANCE AND COMPARATIVES ARE TAKEN INTO CONSIDERATION IN THE PROCESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5CONSULTANTS 63,625 0 0 EVENTS 2,617 0 0 CONFERENCE 3,288 0 0 BUSINESS EXPENSES 5,484 5,484 0 TOTAL 75,014 5,484 0
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IRS990/WebsiteAddressTxt0WWW.SHELTONEDC.COM
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ReturnHeader/BuildTS02024-08-08 14:25:15Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0PAUL GRIMMER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02039242521
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-09-24
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SHELTON ECONOMIC DEVELOPMENT CORP
ReturnHeader/Filer/BusinessNameControlTxt0SHEL
ReturnHeader/Filer/EIN0061092685
ReturnHeader/Filer/PhoneNum02039242521
ReturnHeader/Filer/USAddress/AddressLine1Txt025 BROOK ST STE 203
ReturnHeader/Filer/USAddress/CityNm0SHELTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CT
ReturnHeader/Filer/USAddress/ZIPCd006484
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0472367519
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RAYMOND A OPPEL CPA LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0259 CORAM AVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SHELTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd006484
ReturnHeader/PreparerPersonGrp/PhoneNum02039296616
ReturnHeader/PreparerPersonGrp/PreparationDt02024-09-24
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RAYMOND A OPPEL
ReturnHeader/ReturnTs02024-09-24T15:55:25-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

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