Connecticut Business Development

EIN 22-2534136 • 501(c)4 • Wallingford, CT

Profile

To stimulate economic growth through loan administration.

22 Ridge Knoll RoadWallingford, CT 06492

n/A

Siviq Scores

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

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2016

No value available

Liabilities-to-revenue requires both liabilities and revenue on the latest valid filing.

Source year 2016

No value available

Net margin requires both revenue and expenses on the latest valid filing.

Source year 2016

Higher top officer pay than 91% of similar nonprofits.

501(c)4 • <$500k nonprofits • Source year 2016

-100%

Faster asset growth than 7% of similar nonprofits.

501(c)4 • <$500k nonprofits • Annualized from 2015 to 2016

-100%

Faster revenue growth than 3% of similar nonprofits.

501(c)4 • <$500k nonprofits • Annualized from 2015 to 2016

Balance Sheet

Liabilities / AssetsScore unavailable

Assets

Down

Down $91,253 (-100%) from 2015

Liabilities

Down

Down $10,656 (-100%) from 2015

Net Assets

Down

Down $80,597 (-100%) from 2015

Operations

Liabilities / RevenueScore unavailable Net MarginScore unavailable

Revenue

Down

Down $17,327 (-100%) from 2015

Expenses

$80,597

Up $65,074 (+419%) from 2015

Net Income

Down

-$80,597

Down $82,401 (-4568%) from 2015

Trend Graphs

Balance Sheet Trend

Asset Growth7th percentile

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

Highlighted filing

2016

Assets$0

Liabilities$0

Net Assets$0

Open 2016 Filing

Operations Trend

Revenue Growth3rd percentile

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

Highlighted filing

2016

Revenue$0

Expenses$80,597

Net Income-$80,597

Open 2016 Filing

Filings

Most recent year

2016 • Form 990EZDetailed filing. Detailed filing data is available for this year.

Open filing

Assets: $0
Liabilities: $0
Net assets: $0
Revenue: $0
Expenses: $80,597
Net income: -$80,597

	Balance Sheet			Operations
Year	Assets	Liabilities	Net Assets	Revenue	Expenses	Net Income
2016Detailed filing. Detailed filing data is available for this year.	$0.00	$0.00	$0.00	$0.00	$0.81	$0.81
2015Detailed filing. Detailed filing data is available for this year.	$0.91	$0.11	$0.81	$0.17	$0.16	$0.02
2014Summary only. Only limited summary data is available for this year.	$1.03	$0.25		$0.00	$0.57	$0.57
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.	$1.41	$0.04	$1.36	$0.42	$1.25	$0.83
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.	$2.24	$0.04	$2.19	$0.67	$0.99	$0.32
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.	$2.63	$0.13	$2.51	$0.91	$0.90	$0.01
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.	$2.82	$0.33	$2.49	$1.06	$1.06	$0.01

Latest Filing Detail

Jump To

Filing Snapshot

Filing Period: Oct 1, 2015 to Sep 30, 2016
Signed: Sep 21, 2016
Return Version: 2015v2.1
Gross Receipts: $0

Mission and Program Overview

Mission

To stimulate economic growth through loan administration.

Program Services

Description	Grants	Expenses
TO STIMULATE ECONOMIC GROWTH THROUGH ADMINISTRATION AND PROCESSING OF LOANS TO INDUSTRIAL AND COMMERCIAL COMPANIES IN THE STATE OF CONNECTICUT FOR THE PURPOSE OF CAPITAL INVESTMENT. DURING THE YEAR ENDING SEPTEMBER 30, 2016, THE ORGANIZATION CEASED OPERATIONS AND THE REMAINING ASSETS WERE DONATED TO TWO CONNECTICUT TAX EXEMPT ENTITIES WITH SIMILAR MISSIONS.	$0	$0

Compensation and Service Providers

Top Officer Pay91st percentile

Employees

Name	Title	Full / Part Time	Base	Other	Total
PATRICK LEMP	VP/Treasurer/Secretary	-	$0	-	-
BERNARD F WILBUR JR	Director	-	$0	-	-
VINCENT T PELLEGRINO	President/Chairman	-	$0	-	-
JENNIFER L RODRIGUEZ	Director	-	$0	-	-
LESLIE COSGROVE	Director	-	$0	-	-
JAMES MAHONLEY	Director	-	$0	-	-

Filing and Contact Details

Filer

Filer Name: Connecticut Business Development
EIN: 22-2534136
Phone: 2032690549
Address: 22 RIDGE KNOLL ROAD, WALLINGFORD, CT 06492

Signing Officer

Name: Vincent Pellegrino
Title: President
Phone: 2032690549
Signed: 2016-09-21
Discuss with paid preparer: Yes

Preparer

Firm: Marcum Llp
Address: CITY PLACE II 185 ASYLUM STREET, HARTFORD, CT 06103
Preparer: Gregory C Marazita
Phone: 8607600600

Supplemental Narrative

Additional Explanations

Form 990-ez, Part I, Line 10 - Grants and Similar Amounts Paid

“Activity classification: . Grantee name: northwest connecticut economic development grantee name: northwest connecticut economic development. Grantee address: po box 59 torrington, ct 06790. Date of gift: 05/03/16. Amount given: 38,000.”

Form 990-ez, Part I, Line 10 - Grants and Similar Amounts Paid

“Activity classification: . Grantee name: southeastern connecticut enterprise region grantee name: southeastern connecticut enterprise region. Grantee address: 19 thames street groton, ct 06340. Date of gift: 05/03/16. Amount given: 38,000. Total included on form 990-ez, line 10: 76,000.”

Form 990-ez, Part II, Line 26 - Other Liabilities

“Description: other accrued liabilities. Beg. Of year amount: 10,656. End of year amount: 0.”

Raw XML Appendix161 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
IRS990EZ/ActivitiesNotPreviouslyRptInd	0	0
IRS990EZ/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt	0	VINCENT PELLEGRINO
IRS990EZ/BooksInCareOfDetail/PhoneNum	0	2032690549
IRS990EZ/BooksInCareOfDetail/USAddress/AddressLine1Txt	0	22 RIDGE KNOLL ROAD
IRS990EZ/BooksInCareOfDetail/USAddress/CityNm	0	WALLINGFORD
IRS990EZ/BooksInCareOfDetail/USAddress/StateAbbreviationCd	0	CT
IRS990EZ/BooksInCareOfDetail/USAddress/ZIPCd	0	06492
IRS990EZ/CashSavingsAndInvestmentsGrp/BOYAmt	0	91253
IRS990EZ/CashSavingsAndInvestmentsGrp/EOYAmt	0	0
IRS990EZ/ChgMadeToOrgnzngDocNotRptInd	0	0
IRS990EZ/DirectIndirectPltclExpendAmt	0	0
IRS990EZ/DonorAdvisedFndsInd	0	0
IRS990EZ/EngagedInExcessBenefitTransInd	0	0
IRS990EZ/ExcessOrDeficitForYearAmt	0	-80597
IRS990EZ/FeesAndOtherPymtToIndCntrctAmt	0	4195
IRS990EZ/FinalReturnInd	0	X
IRS990EZ/ForeignFinancialAccountInd	0	0
IRS990EZ/ForeignOfficeInd	0	0
IRS990EZ/Form990TotalAssetsGrp/BOYAmt	0	91253
IRS990EZ/Form990TotalAssetsGrp/EOYAmt	0	0
IRS990EZ/GrantsAndSimilarAmountsPaidAmt	0	76000
IRS990EZ/GrossReceiptsAmt	0	0
IRS990EZ/InfoInScheduleOPartIIIInd	0	X
IRS990EZ/InfoInScheduleOPartIIInd	0	X
IRS990EZ/InfoInScheduleOPartIInd	0	X
IRS990EZ/InfoInScheduleOPartVInd	0	X
IRS990EZ/MadeLoansToFromOfficersInd	0	0
IRS990EZ/MethodOfAccountingAccrualInd	0	X
IRS990EZ/NetAssetsOrFundBalancesBOYAmt	0	80597
IRS990EZ/NetAssetsOrFundBalancesEOYAmt	0	0
IRS990EZ/NetAssetsOrFundBalancesGrp/BOYAmt	0	80597
IRS990EZ/NetAssetsOrFundBalancesGrp/EOYAmt	0	0
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt	0	1.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt	1	1.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt	2	1.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt	3	1.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt	4	1.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt	5	1.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt	0	0
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt	1	0
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt	2	0
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt	3	0
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt	4	0
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt	5	0
IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt	0	0
IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt	1	0
IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt	2	0
IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt	3	0
IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt	4	0
IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt	5	0
IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt	0	0
IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt	1	0
IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt	2	0
IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt	3	0
IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt	4	0
IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt	5	0
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm	0	PATRICK LEMP
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm	1	BERNARD F WILBUR JR
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm	2	VINCENT T PELLEGRINO
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm	3	JENNIFER L RODRIGUEZ
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm	4	LESLIE COSGROVE
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm	5	JAMES MAHONLEY
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt	0	VP/TREASURER/SECRETARY
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt	1	DIRECTOR
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt	2	PRESIDENT/CHAIRMAN
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt	3	DIRECTOR
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt	4	DIRECTOR
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt	5	DIRECTOR
IRS990EZ/OperateHospitalInd	0	0
IRS990EZ/Organization501cInd	0	X
IRS990EZ/OrganizationDissolvedEtcInd	0	1
IRS990EZ/OrganizationHadUBIInd	0	0
IRS990EZ/OtherChangesInNetAssetsAmt	0	0
IRS990EZ/PoliticalCampaignActyInd	0	0
IRS990EZ/PrimaryExemptPurposeTxt	0	TO STIMULATE ECONOMIC GROWTH THROUGH LOAN ADMINISTRATION.
IRS990EZ/PrintingPublicationsPostageAmt	0	402
IRS990EZ/ProgramServiceRevenueAmt	0	0
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt	0	TO STIMULATE ECONOMIC GROWTH THROUGH ADMINISTRATION AND PROCESSING OF LOANS TO INDUSTRIAL AND COMMERCIAL COMPANIES IN THE STATE OF CONNECTICUT FOR THE PURPOSE OF CAPITAL INVESTMENT. DURING THE YEAR ENDING SEPTEMBER 30, 2016, THE ORGANIZATION CEASED OPERATIONS AND THE REMAINING ASSETS WERE DONATED TO TWO CONNECTICUT TAX EXEMPT ENTITIES WITH SIMILAR MISSIONS.
IRS990EZ/ProgramSrvcAccomplishmentGrp/GrantsAndAllocationsAmt	0	0
IRS990EZ/ProgramSrvcAccomplishmentGrp/ProgramServiceExpensesAmt	0	0
IRS990EZ/ProhibitedTaxShelterTransInd	0	0
IRS990EZ/RelatedOrganizationCtrlEntInd	0	0
IRS990EZ/ScheduleBNotRequiredInd	0	X
IRS990EZ/StatesWhereCopyOfReturnIsFldCd	0	CT
IRS990EZ/SubjectToProxyTaxInd	0	0
IRS990EZ/SumOfTotalLiabilitiesGrp/BOYAmt	0	10656
IRS990EZ/SumOfTotalLiabilitiesGrp/EOYAmt	0	0
IRS990EZ/TanningServicesProvidedInd	0	0
IRS990EZ/TaxImposedOnOrganizationMgrAmt	0	0
IRS990EZ/TaxReimbursedByOrganizationAmt	0	0
IRS990EZ/TotalExpensesAmt	0	80597
IRS990EZ/TotalProgramServiceExpensesAmt	0	0
IRS990EZ/TotalRevenueAmt	0	0
IRS990EZ/TypeOfOrganizationCorpInd	0	X
IRS990EZ/WebsiteAddressTxt	0	N/A
IRS990ScheduleN/AssetsDistributedInd	0	1
IRS990ScheduleN/AttorneyGeneralNotifiedInd	0	0
IRS990ScheduleN/BondsOutstandingInd	0	0
IRS990ScheduleN/DirectorOfSuccessorInd	0	0
IRS990ScheduleN/EmployeeOfSuccessorInd	0	0
IRS990ScheduleN/LiabilitiesPaidInd	0	1
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc	0	GRANT
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc	1	GRANT
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt	0	NORTHWEST CONNECTICUT ECONOMIC DEVELOPMENT CORPORATION
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt	1	SOUTHEASTERN CONNECTICUT ENTERPRISE REGION CORPORATION
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt	0	2016-05-03
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt	1	2016-05-03
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN	0	200421459
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN	1	222973506
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt	0	38000
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt	1	38000
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt	0	501(C)(4)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt	1	501(C)(3)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt	0	CASH VALUE
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt	1	CASH VALUE
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt	0	PO BOX 59
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt	1	195 THAMES STREET
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm	0	TORRINGTON
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm	1	GROTON
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd	0	CT
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd	1	CT
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd	0	06790
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd	1	06340
IRS990ScheduleN/OwnerOfSuccessorInd	0	0
IRS990ScheduleN/ReceiveCompensationInd	0	0
IRS990ScheduleN/RequiredToNotifyAGInd	0	0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	0	ACTIVITY CLASSIFICATION: . GRANTEE NAME: NORTHWEST CONNECTICUT ECONOMIC DEVELOPMENT GRANTEE NAME: NORTHWEST CONNECTICUT ECONOMIC DEVELOPMENT. GRANTEE ADDRESS: PO BOX 59 TORRINGTON, CT 06790. DATE OF GIFT: 05/03/16. AMOUNT GIVEN: 38,000.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	1	ACTIVITY CLASSIFICATION: . GRANTEE NAME: SOUTHEASTERN CONNECTICUT ENTERPRISE REGION GRANTEE NAME: SOUTHEASTERN CONNECTICUT ENTERPRISE REGION. GRANTEE ADDRESS: 19 THAMES STREET GROTON, CT 06340. DATE OF GIFT: 05/03/16. AMOUNT GIVEN: 38,000. TOTAL INCLUDED ON FORM 990-EZ, LINE 10: 76,000.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	2	DESCRIPTION: OTHER ACCRUED LIABILITIES. BEG. OF YEAR AMOUNT: 10,656. END OF YEAR AMOUNT: 0.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	0	FORM 990-EZ, PART I, LINE 10 - GRANTS AND SIMILAR AMOUNTS PAID
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	1	FORM 990-EZ, PART I, LINE 10 - GRANTS AND SIMILAR AMOUNTS PAID
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	2	FORM 990-EZ, PART II, LINE 26 - OTHER LIABILITIES
TransferPrsnlBnftContractsDecl/DeclarationDesc	0	THE ORGANIZATION DID NOT, DURING THE YEAR, RECEIVE ANY FUNDS, DIRECTLY,OR INDIRECTLY, TO PAY PREMIUMS ON A PERSONAL BENEFIT CONTRACT.THE ORGANIZATION, DID NOT, DURING THE YEAR, PAY ANY PREMIUMS, DIRECTLY,OR INDIRECTLY, ON A PERSONAL BENEFIT CONTRACT.
ReturnHeader/BuildTS	0	2017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd	0	1
ReturnHeader/BusinessOfficerGrp/PersonNm	0	VINCENT PELLEGRINO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt	0	PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum	0	2032690549
ReturnHeader/BusinessOfficerGrp/SignatureDt	0	2016-09-21
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt	0	CONNECTICUT BUSINESS DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt	0	CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt	0	CONN
ReturnHeader/Filer/EIN	0	222534136
ReturnHeader/Filer/PhoneNum	0	2032690549
ReturnHeader/Filer/USAddress/AddressLine1Txt	0	22 RIDGE KNOLL ROAD
ReturnHeader/Filer/USAddress/CityNm	0	WALLINGFORD
ReturnHeader/Filer/USAddress/StateAbbreviationCd	0	CT
ReturnHeader/Filer/USAddress/ZIPCd	0	06492
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN	0	111986323
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt	0	MARCUM LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt	0	CITY PLACE II 185 ASYLUM STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm	0	HARTFORD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd	0	CT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd	0	06103
ReturnHeader/PreparerPersonGrp/PhoneNum	0	8607600600
ReturnHeader/PreparerPersonGrp/PreparerPersonNm	0	GREGORY C MARAZITA
ReturnHeader/ReturnTs	0	2016-09-27T10:11:33-05:00
ReturnHeader/ReturnTypeCd	0	990EZ
ReturnHeader/TaxPeriodBeginDt	0	2015-10-01
ReturnHeader/TaxPeriodEndDt	0	2016-09-30
ReturnHeader/TaxYr	0	2015