Civic Intelligence

Sheldon Terrace Supportive Housing Corporation

990 • Fiscal year 2022 • EIN 26-1712321

Jul 01, 2021 to Jun 30, 2022 • Filed on Feb 22, 2023

109 Legion AvenueNew Haven, CT 06519

(203) 562-2264

Siviq Scores

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

Liabilities / Assets

47th percentile

0.05x

Higher debt load relative to assets than 47% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

87th percentile

0.92x

Higher debt load relative to revenue than 87% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

5th percentile

-68%

Higher net margin than 5% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

97th percentile

$398,550

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 249.1% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

39th percentile

-2.3%

Faster asset growth than 39% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

36th percentile

-2.1%

Faster revenue growth than 36% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Assets

Down

$2,850,853

Down $65,769 (-2.3%) from 2021

Net Assets

Down

$2,704,341

Down $109,072 (-3.9%) from 2021

Liabilities

Up

$146,512

Up $43,303 (+42%) from 2021

Revenue

Down

$159,995

Down $3,461 (-2.1%) from 2021

Expenses

Up

$269,067

Up $17,052 (+6.8%) from 2021

Net Income

Down

-$109,072

Down $20,513 (-23%) from 2021

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2014: $3,421,472Liabilities 2014: $2,697,812Net Assets 2014: $723,6602014Assets 2015: $3,362,126Liabilities 2015: $2,683,797Net Assets 2015: $678,3292015Assets 2016: $3,286,091Liabilities 2016: $2,660,779Net Assets 2016: $625,3122016Assets 2017: $3,205,429Liabilities 2017: $2,665,860Net Assets 2017: $539,5692017Assets 2018: $3,135,853Liabilities 2018: $57,977Net Assets 2018: $3,077,8762018Assets 2019: $3,064,266Liabilities 2019: $89,997Net Assets 2019: $2,974,2692019Assets 2020: $2,987,220Liabilities 2020: $85,248Net Assets 2020: $2,901,9722020Assets 2021: $2,916,622Liabilities 2021: $103,209Net Assets 2021: $2,813,4132021Assets 2022: $2,850,853Liabilities 2022: $146,512Net Assets 2022: $2,704,3412022

Highlighted filing

2022

Assets$2,850,853
Liabilities$146,512
Net Assets$2,704,341

Operations Trend

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

$300K$200K$100K$0-$100K-$200KRevenue 2014: $176,046Expenses 2014: $271,205Net Income 2014: -$95,1592014Revenue 2015: $174,671Expenses 2015: $220,002Net Income 2015: -$45,3312015Revenue 2016: $173,506Expenses 2016: $226,523Net Income 2016: -$53,0172016Revenue 2017: $174,195Expenses 2017: $259,938Net Income 2017: -$85,7432017Revenue 2018: $169,846Expenses 2018: $241,639Net Income 2018: -$71,7932018Revenue 2019: $167,490Expenses 2019: $271,097Net Income 2019: -$103,6072019Revenue 2020: $167,377Expenses 2020: $239,674Net Income 2020: -$72,2972020Revenue 2021: $163,456Expenses 2021: $252,015Net Income 2021: -$88,5592021Revenue 2022: $159,995Expenses 2022: $269,067Net Income 2022: -$109,0722022

Highlighted filing

2022

Revenue$159,995
Expenses$269,067
Net Income-$109,072
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Feb 22, 2023
Return Version
2021v4.2
Gross Receipts
$159,995
Mission and Program Overview

Mission

The organization provides elderly or disabled persons with housing facilities and services specially designed to meet their physical, social, and psychological needs, and to promote their health, security, happiness and usefulness in longer living.

The provision of residential support services, including case management, to the mentally ill and developmentally disabled individuals.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,862,144$2,780,379▼ $81,765
Cash and Non-Interest-Bearing Accounts$50,493$57,649▲ $7,156
Accounts Receivable$3,985$12,422▲ $8,437
Prepaid Expenses and Deferred Charges$0$403▲ $403
Total Assets$2,916,622$2,850,853▼ $65,769
Liabilities
Other Liabilities$77,213$103,361▲ $26,148
Accounts Payable and Accrued Expenses$25,996$43,151▲ $17,155
Total Liabilities$103,209$146,512▲ $43,303
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,813,413$2,704,341▼ $109,072
Total Net Assets Fund Balance$2,813,413$2,704,341▼ $109,072
Total Liabilities and Net Assets / Fund Balance$2,916,622$2,850,853▼ $65,769

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,805,379$870,105$2,675,484
Land$975,000-$975,000
Compensation and Service Providers

Board Members and Trustees

NameTitle
Virginia T SpellChairperson
Jay Brotman AiaCo-vice Chairperson
Maureen WeaverCo-vice Chairperson
Barbara EllinghausDirector
Cathy R GravesDirector
Damion X Cogle CPADirector
Eric Overland AiaDirector
James N RascatiDirector
Lieutenant Michael FumiattiDirector
Patti L WalkerCEO
Angela WestwoodCFO
James FarralesCOO
Mark SevillaSecretary
Robert a ColeTreasurer
MONICA O'CONNORVP Facilities & It
Detrie AntunesVP of Hr
Deborah CoxVP of Marketing and Develo
Gretchen RichardsonVP Program Development
David OstromVP Quality Improvement
Revenue and Support

Revenue Composition

Contributions and Grants
$95,632
Program Service Revenue
$64,338
Investment Income
$25
Other Revenue
$0
Change in Net Assets
$-109,072

Audited Revenue Reconciliation

Revenue per Audited Statements
$159,995
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$159,995
Total Revenue per Form 990
$159,995
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$235,387
Salaries, Compensation, and Employee Benefits$33,680
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$85,565--$85,565
Insurance$31,355--$31,355
Other Salaries and Wages$16,483$14,145-$30,628
Fees for Services Accounting-$12,200-$12,200
Fees for Services Management$10,639--$10,639
Other Expenses$3,978--$3,978
Payroll Taxes-$3,052-$3,052
Office Expenses-$2,373-$2,373
Fees for Services Legal$1,167--$1,167
Total Functional Expenses$237,297$31,770$0$269,067

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$269,067
Total Expenses per Audited Statements$269,067
Total Expenses per Form 990$269,067
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
Due to Affiliates$97,057
Security Deposits$4,510
Prepaid Rent$1,794
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 35% controlled entity
No
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

Demarco management corporation, a property management company, is utilized to operate the facility.

Form 990, Part VI, Section A, Line 8B

No committee has the authority to act on behalf of the governing body.

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

A copy of the 990 was emailed to the board prior to return being filed.

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

The agency requires that all employees upon hire acknowledge that they have received and understand the agency's policy on corporate compliance, ethics, and conflicts of interest as outlined in the employee handbook. Annually, the agency requires all staff to complete a competency-based training on ethics and compliance which also includes conflicts of interest. Board members are also required to sign a no conflict statement while tenured with the board.

Form 990, Part VI, Section B, Line 15

A salary study is performed and is then presented to the board for approval

Form 990, Part VI, Section C, Line 19

Documents are available upon request and through the state of connecticut.

Filing and Contact Details

Filer

Filer Name
Sheldon Terrace Supportive Housing
EIN
26-1712321
Phone
2035622264
Address
109 LEGION AVENUE, NEW HAVEN, CT 06519

Signing Officer

Name
Patti Walker
Title
President & CEO
Phone
2035622254
Signed
2023-02-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Patti Walker
Formed
2007
Legal Domicile
Ct
Voting Board Members
12
Independent Board Members
11
Employees
0
Volunteers
0

Preparer

Firm
Cliftonlarsonallen Llp
Address
29 SOUTH MAIN STREET 4TH FLOOR, WEST HARTFORD, CT 06107
Preparer
Lori Budnick
Phone
8605614000
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IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
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IRS990/FormationYr02007
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/ConsolAndSepBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt012
IRS990/GovernmentGrantsAmt095632
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt0159995
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd00
IRS990/IndependentAuditFinclStmtInd01
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IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
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IRS990/LandBldgEquipCostOrOtherBssAmt03650484
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IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd01
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd00
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE ORGANIZATION PROVIDES ELDERLY OR DISABLED PERSONS WITH HOUSING FACILITIES AND SERVICES SPECIALLY DESIGNED TO MEET THEIR PHYSICAL, SOCIAL, AND PSYCHOLOGICAL NEEDS, AND TO PROMOTE THEIR HEALTH, SECURITY, HAPPINESS AND USEFULNESS IN LONGER LIVING.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt02813413
IRS990/NetAssetsOrFundBalancesEOYAmt02704341
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IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt02813413
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt02704341
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt02373
IRS990/OfficeExpensesGrp/TotalAmt02373
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
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IRS990/OtherExpensesGrp/Desc1CONTRACTS
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IRS990/OtherExpensesGrp/ProgramServicesAmt134274
IRS990/OtherExpensesGrp/ProgramServicesAmt23978
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IRS990/OtherExpensesGrp/TotalAmt134274
IRS990/OtherExpensesGrp/TotalAmt23978
IRS990/OtherLiabilitiesGrp/BOYAmt077213
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IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt014145
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt040
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt040
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IRS990ScheduleA/InvestmentIncomeCYPct00.00030
IRS990ScheduleA/InvestmentIncomePYPct00.00040
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IRS990ScheduleA/Total509Grp/TotalAmt0550983
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0119156
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0551168
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt01805379
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0870105
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02675484
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0269067
IRS990ScheduleD/LandGrp/BookValueAmt0975000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0975000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt097057
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt14510
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt21794
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO AFFILIATES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1SECURITY DEPOSITS

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