Civic Intelligence

The Connection Fund - Liberty Inc

990 • Fiscal year 2017 • EIN 06-1436605

Jul 01, 2016 to Jun 30, 2017 • Filed on Apr 26, 2018

100 Roscommon Drive Suite 203Middletown, CT 06457

(860) 343-5500

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

76th percentile

0.52x

Higher debt load relative to assets than 76% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Liabilities / Revenue

96th percentile

8.35x

Higher debt load relative to revenue than 96% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Net Margin

8th percentile

-35%

Higher net margin than 8% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Top Officer Pay

20th percentile

$0

Higher top officer pay than 20% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Asset Growth

23rd percentile

-2.7%

Faster asset growth than 23% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Revenue Growth

42nd percentile

2.1%

Faster revenue growth than 42% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Assets

Down

$6,316,173

Down $178,085 (-2.7%) from 2016

Net Assets

Down

$3,035,845

Down $136,104 (-4.3%) from 2016

Liabilities

Down

$3,280,328

Down $41,981 (-1.3%) from 2016

Revenue

Up

$392,948

Up $8,030 (+2.1%) from 2016

Expenses

Up

$529,052

Up $2,646 (+0.5%) from 2016

Net Income

Up

-$136,104

Up $5,384 (+3.8%) from 2016

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$8.0M$6.0M$4.0M$2.0M$0Assets 2010: $764,516Liabilities 2010: $321,418Net Assets 2010: $443,0982010Assets 2011: $733,515Liabilities 2011: $279,021Net Assets 2011: $454,4942011Assets 2012: $754,113Liabilities 2012: $273,291Net Assets 2012: $480,8222012Assets 2013: $6,769,799Liabilities 2013: $3,103,599Net Assets 2013: $3,666,2002013Assets 2014: $6,678,166Liabilities 2014: $3,188,903Net Assets 2014: $3,489,2632014Assets 2015: $6,591,910Liabilities 2015: $3,278,473Net Assets 2015: $3,313,4372015Assets 2016: $6,494,258Liabilities 2016: $3,322,309Net Assets 2016: $3,171,9492016Assets 2017: $6,316,173Liabilities 2017: $3,280,328Net Assets 2017: $3,035,8452017Assets 2018: $6,190,443Liabilities 2018: $3,276,548Net Assets 2018: $2,913,8952018Assets 2019: $6,118,727Liabilities 2019: $3,326,746Net Assets 2019: $2,791,9812019Assets 2020: $6,032,834Liabilities 2020: $3,361,809Net Assets 2020: $2,671,0252020Assets 2021: $5,970,678Liabilities 2021: $3,481,456Net Assets 2021: $2,489,2222021Assets 2022: $5,873,914Liabilities 2022: $3,564,859Net Assets 2022: $2,309,0552022Assets 2023: $5,907,206Liabilities 2023: $3,702,296Net Assets 2023: $2,204,9102023Assets 2024: $5,789,608Liabilities 2024: $3,613,835Net Assets 2024: $2,175,7732024

Highlighted filing

2017

Assets$6,316,173
Liabilities$3,280,328
Net Assets$3,035,845

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $100,3412010Expenses 2011: $90,8292011Expenses 2012: $81,6722012Revenue 2013: $4,180,225Expenses 2013: $430,590Net Income 2013: $3,749,6352013Revenue 2014: $352,375Expenses 2014: $529,312Net Income 2014: -$176,9372014Revenue 2015: $369,345Expenses 2015: $545,171Net Income 2015: -$175,8262015Revenue 2016: $384,918Expenses 2016: $526,406Net Income 2016: -$141,4882016Revenue 2017: $392,948Expenses 2017: $529,052Net Income 2017: -$136,1042017Revenue 2018: $409,443Expenses 2018: $531,393Net Income 2018: -$121,9502018Revenue 2019: $431,828Expenses 2019: $553,742Net Income 2019: -$121,9142019Revenue 2020: $432,276Expenses 2020: $553,232Net Income 2020: -$120,9562020Revenue 2021: $407,188Expenses 2021: $588,991Net Income 2021: -$181,8032021Revenue 2022: $428,428Expenses 2022: $608,595Net Income 2022: -$180,1672022Revenue 2023: $524,805Expenses 2023: $628,950Net Income 2023: -$104,1452023Revenue 2024: $567,276Expenses 2024: $596,413Net Income 2024: -$29,1372024

Highlighted filing

2017

Revenue$392,948
Expenses$529,052
Net Income-$136,104
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Apr 26, 2018
Return Version
2016v3.0
Gross Receipts
$392,948
Mission and Program Overview

Mission

Organization's mission or most significant activities are to acquire, own, finance, mortgage, lease, and operate a certain improved parcel of real property located at 601 main street, middletown, connecticut, known as liberty commons, along with providing elderly, handicapped and disabled persons housing facilities and services specifically designed to meet their physical, social, and pyschological needs and to promote their health, happiness, and usefulness in longer living.

Organization's mission or most significant activities are to acquire, own, finance, mortgage, lease, and operate a certain improved parcel of real property located at 601 main street, middletown, connecticut, known as liberty commons, and along with providing elderly, handicapped and disabled persons housing facilities and services specifically designed to meet their physical, social, and pyschological needs and to promote their health, happiness, and usefulness in longer living.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$3,171,949$3,035,845▼ $136,104
Land, Buildings, and Equipment, Net$2,929,634$2,857,573▼ $72,061
Accounts Receivable$16,051$19,402▲ $3,351
Cash and Non-Interest-Bearing Accounts$22,323$10,999▼ $11,324
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$6,494,258$6,316,173▼ $178,085
Other Assets Total$3,526,250$3,428,199▼ $98,051
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,996,876$2,961,073▼ $35,803
Other Liabilities$133,285$168,574▲ $35,289
Accounts Payable and Accrued Expenses$192,148$150,681▼ $41,467
Total Liabilities$3,322,309$3,280,328▼ $41,981
Net Assets / Fund Balance
Total Net Assets Fund Balance$3,171,949$3,035,845▼ $136,104
Total Liabilities and Net Assets / Fund Balance$6,494,258$6,316,173▼ $178,085

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,590,217$349,954$2,940,171
Land$267,356-$267,356
Other Land Buildings$0--
Other Assets Org$11,213--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Lisa Dematteis-leporePresident/CEO
Helen McalindenSecretary
Elizabeth CroninTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$380,308
Investment Income
$10,770
Other Revenue
$1,870
Change in Net Assets
$-136,104

Audited Revenue Reconciliation

Revenue per Audited Statements
$392,948
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$392,948
Total Revenue per Form 990
$392,948
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$529,052
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$319,933--$319,933
Depreciation Depletion$78,714--$78,714
Office Expenses$55,806--$55,806
Interest$36,799--$36,799
Fees for Services Management$26,480--$26,480
Fees for Services Accounting$11,320--$11,320
Total Functional Expenses$529,052$0$0$529,052

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$529,052
Total Expenses per Audited Statements$529,052
Total Expenses per Form 990$529,052
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Interest Payable-mortgages$157,336
Tenant Security Deposits$11,213
Due to Owner$25
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

Form 990, part vi, line 3b - organization delegated control over some duties to a professional property manager.

Form 990, Part VI, Section B, Line 11B

Form 990. Part vi, line 11b - organization's process to review form 990 the finance department prepares the source information for the tax preparer. Upon receipt of the drafts, the finance department then conducts a complete review prior to sending copies to each board of directors member for their review and comments prior to submitting the return to the irs.

Form 990, Part VI, Section B, Line 12C

Form 990, part vi, line 12c - enforcement of conflicts policy all members of the board of directors annually fill out a conflict of interest disclosure.

Form 990, Part VI, Section C, Line 18

Form 990, part vi, line 19 - governing documents disclosure explanation all governing documents are made available upon written request within a reasonable amount of time.

Form 990, Part VI, Section C, Line 19

Form 990, part vi, line 12c - enforcement of conflicts policy all members of the board of directors annually fill out a conflict of interest disclosure.

Filing and Contact Details

Filer

Filer Name
The Connection Fund - Liberty Inc
EIN
06-1436605
Phone
8603435500
Address
100 ROSCOMMON DRIVE SUITE 203, MIDDLETOWN, CT 06457

Signing Officer

Name
Lisa Dematteis-lepore
Title
President/CEO
Phone
8603435500
Signed
2018-04-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lisa Dematteis-lepore
Formed
1996
Legal Domicile
Ct
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Whittlesey Pc
Address
280 TRUMBULL ST 24TH FL, HARTFORD, CT 06103
Preparer
Lisa Wills
Phone
8605223111
Supplemental Narrative

Additional Explanations

Part 12 Line 2C

The organization did not change its process during the year.

Raw XML Appendix351 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.

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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1157336
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt225
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1ACCRUED INTEREST PAYABLE-MORTGAGES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2DUE TO OWNER
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0392948
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02857573
IRS990ScheduleD/TotalBookValueOtherAssetsAmt03428199
IRS990ScheduleD/TotalExpensesPerForm990Amt0529052
IRS990ScheduleD/TotalLiabilityAmt0168574
IRS990ScheduleD/TotalRevenuePerForm990Amt0392948
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0392948
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0529052
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990, PART VI, LINE 3B - ORGANIZATION DELEGATED CONTROL OVER SOME DUTIES TO A PROFESSIONAL PROPERTY MANAGER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990. PART VI, LINE 11B - ORGANIZATION'S PROCESS TO REVIEW FORM 990 THE FINANCE DEPARTMENT PREPARES THE SOURCE INFORMATION FOR THE TAX PREPARER. UPON RECEIPT OF THE DRAFTS, THE FINANCE DEPARTMENT THEN CONDUCTS A COMPLETE REVIEW PRIOR TO SENDING COPIES TO EACH BOARD OF DIRECTORS MEMBER FOR THEIR REVIEW AND COMMENTS PRIOR TO SUBMITTING THE RETURN TO THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990, PART VI, LINE 12C - ENFORCEMENT OF CONFLICTS POLICY ALL MEMBERS OF THE BOARD OF DIRECTORS ANNUALLY FILL OUT A CONFLICT OF INTEREST DISCLOSURE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FORM 990, PART VI, LINE 19 - GOVERNING DOCUMENTS DISCLOSURE EXPLANATION ALL GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON WRITTEN REQUEST WITHIN A REASONABLE AMOUNT OF TIME.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4FORM 990, PART VI, LINE 12C - ENFORCEMENT OF CONFLICTS POLICY ALL MEMBERS OF THE BOARD OF DIRECTORS ANNUALLY FILL OUT A CONFLICT OF INTEREST DISCLOSURE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION DID NOT CHANGE ITS PROCESS DURING THE YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5PART 12 LINE 2C
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0CT
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt06494258
IRS990/TotalAssetsEOYAmt06316173
IRS990/TotalAssetsGrp/BOYAmt06494258
IRS990/TotalAssetsGrp/EOYAmt06316173
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0529052
IRS990/TotalFunctionalExpensesGrp/TotalAmt0529052
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03322309
IRS990/TotalLiabilitiesEOYAmt03280328
IRS990/TotalLiabilitiesGrp/BOYAmt03322309
IRS990/TotalLiabilitiesGrp/EOYAmt03280328
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03171949
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03035845
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0529052
IRS990/TotalProgramServiceRevenueAmt0380308
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt010770
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0382178
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0392948
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt06494258
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt06316173
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0100 ROSCOMMON DRIVE SUITE 203
IRS990/USAddress/CityNm0MIDDLETOWN
IRS990/USAddress/StateAbbreviationCd0CT
IRS990/USAddress/ZIPCd006457
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0LISA DEMATTEIS-LEPORE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT/CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum08603435500
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-04-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE CONNECTION FUND - LIBERTY INC
ReturnHeader/Filer/BusinessNameControlTxt0CONN
ReturnHeader/Filer/EIN0061436605
ReturnHeader/Filer/PhoneNum08603435500
ReturnHeader/Filer/USAddress/AddressLine1Txt0100 ROSCOMMON DRIVE SUITE 203
ReturnHeader/Filer/USAddress/CityNm0MIDDLETOWN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CT
ReturnHeader/Filer/USAddress/ZIPCd006457
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId08562B75AF7EC97730401606024F025A6C3916CF0
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0EFCBC2532276BFF4E5BECD5AF2FBCECD783F270E
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0198.0.144.57
ReturnHeader/FilingSecurityInformation/IPDt02018-04-26
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm016:14:26
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0060903326
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WHITTLESEY PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0280 TRUMBULL ST 24TH FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0HARTFORD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd006103
ReturnHeader/PreparerPersonGrp/PhoneNum08605223111
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LISA WILLS
ReturnHeader/ReturnTs02018-04-26T15:15:18-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-07-01
ReturnHeader/TaxPeriodEndDt02017-06-30
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.79$3.61$2.18$0.57$0.60$0.03
2023Detailed filing. Detailed filing data is available for this year.$5.91$3.70$2.20$0.52$0.63$0.10
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.87$3.56$2.31$0.43$0.61$0.18
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.97$3.48$2.49$0.41$0.59$0.18
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.03$3.36$2.67$0.43$0.55$0.12
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.12$3.33$2.79$0.43$0.55$0.12
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.19$3.28$2.91$0.41$0.53$0.12
2017Detailed filing. Detailed filing data is available for this year.$6.32$3.28$3.04$0.39$0.53$0.14
2016Detailed filing. Detailed filing data is available for this year.$6.49$3.32$3.17$0.38$0.53$0.14
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.59$3.28$3.31$0.37$0.55$0.18
2014Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$6.68$3.19$3.49$0.35$0.53$0.18
2013Summary only. Only limited summary data is available for this year.$6.77$3.10$3.67$4.18$0.43$3.75
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.75$0.27$0.48$0.08
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.73$0.28$0.45$0.09
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.76$0.32$0.44$0.10
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2017 filings • 501(c)3 • $5M-$10M nonprofits