Civic Intelligence

Sharon Ridge Expansion Corporation

EIN 46-5761700 • 501(c)3 • Southington, CT

Profile

Provide affordable housing to low income individuals and families in the town of sharon, connecticut

CO Crem 97 Wheeler Village DriveSouthington, CT 06489

n/A

Siviq Scores

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

Liabilities / Assets

75th percentile

0.32x

Higher debt load relative to assets than 75% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Liabilities / Revenue

97th percentile

5.27x

Higher debt load relative to revenue than 97% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Net Margin

10th percentile

-31%

Higher net margin than 10% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Top Officer Pay

40th percentile

$0

Higher top officer pay than 40% of similar nonprofits.

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

501(c)3 • $1M-$5M nonprofits • Source year 2025

Asset Growth

33rd percentile

-1.9%

Faster asset growth than 33% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Revenue Growth

62nd percentile

16%

Faster revenue growth than 62% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Assets

Down

$2,936,128

Down $56,856 (-1.9%) from 2024

Liabilities

Down

$936,349

Down $1,522 (-0.2%) from 2024

Net Assets

Down

$1,999,779

Down $55,334 (-2.7%) from 2024

Revenue

Up

$177,700

Up $24,165 (+16%) from 2024

Expenses

Down

$233,034

Down $8,546 (-3.5%) from 2024

Net Income

Up

-$55,334

Up $32,711 (+37%) from 2024

Trend Graphs

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2017: $3,453,566Liabilities 2017: $1,288,062Net Assets 2017: $2,165,5042017Assets 2018: $3,382,179Liabilities 2018: $1,280,071Net Assets 2018: $2,102,1082018Assets 2019: $3,330,148Liabilities 2019: $1,273,279Net Assets 2019: $2,056,8692019Assets 2020: $3,263,554Liabilities 2020: $1,261,363Net Assets 2020: $2,002,1912020Assets 2021: $3,223,479Liabilities 2021: $1,270,900Net Assets 2021: $1,952,5792021Assets 2022: $3,121,487Liabilities 2022: $943,606Net Assets 2022: $2,177,8812022Assets 2024: $2,992,984Liabilities 2024: $937,871Net Assets 2024: $2,055,1132024Assets 2025: $2,936,128Liabilities 2025: $936,349Net Assets 2025: $1,999,7792025

Highlighted filing

2025

Assets$2,936,128
Liabilities$936,349
Net Assets$1,999,779

Operations Trend

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

$300K$200K$100K$0-$100KRevenue 2017: $145,264Expenses 2017: $206,663Net Income 2017: -$61,3992017Revenue 2018: $153,626Expenses 2018: $217,022Net Income 2018: -$63,3962018Revenue 2019: $159,335Expenses 2019: $204,574Net Income 2019: -$45,2392019Revenue 2020: $162,028Expenses 2020: $216,706Net Income 2020: -$54,6782020Revenue 2021: $164,978Expenses 2021: $214,590Net Income 2021: -$49,6122021Revenue 2022: $154,976Expenses 2022: $229,274Net Income 2022: -$74,2982022Revenue 2024: $153,535Expenses 2024: $241,580Net Income 2024: -$88,0452024Revenue 2025: $177,700Expenses 2025: $233,034Net Income 2025: -$55,3342025

Highlighted filing

2025

Revenue$177,700
Expenses$233,034
Net Income-$55,334

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Jan 13, 2026
Return Version
2024v5.5
Gross Receipts
$177,700
Mission and Program Overview

Mission

To provide affordable housing to low income individuals and families in the town of sharon, connecticut.

To provide low income housing to individuals and families in the town of sharon, connecticut.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,984,101$2,905,324▼ $78,777
Prepaid Expenses and Deferred Charges-$7,073-
Cash and Non-Interest-Bearing Accounts$2,958$2,543▼ $415
Accounts Receivable$190$645▲ $455
Total Assets$2,992,984$2,936,128▼ $56,856
Other Assets Total$5,735$20,543▲ $14,808
Liabilities
Mortgage Notes Payable Secured by Investment Property$913,837$902,703▼ $11,134
Accounts Payable and Accrued Expenses$18,715$25,519▲ $6,804
Other Liabilities$5,319$8,127▲ $2,808
Total Liabilities$937,871$936,349▼ $1,522
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,055,113$1,999,779▼ $55,334
Total Net Assets Fund Balance$2,055,113$1,999,779▼ $55,334
Total Liabilities and Net Assets / Fund Balance$2,992,984$2,936,128▼ $56,856

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,749,290$780,429$3,529,719
Other Land Buildings$156,034$42,601$198,635
Compensation and Service Providers

Board Members and Trustees

NameTitle
Brent ColleyChairman
Jennifer BairdCommissioner
Dora PrueTenant Representative
Donald CastonguayTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$177,697
Investment Income
$3
Other Revenue
$0
Change in Net Assets
$-55,334

Audited Revenue Reconciliation

Revenue per Audited Statements
$177,700
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$16,992
Total Revenue per Audited Statements
$194,692
Total Revenue per Form 990
$177,700
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$218,186
Salaries, Compensation, and Employee Benefits$14,848
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$80,577--$80,577
Occupancy$31,787--$31,787
Fees for Services Accounting-$15,100-$15,100
Interest$14,814--$14,814
Fees for Services Management-$12,600-$12,600
Other Salaries and Wages-$9,478-$9,478
Other Expenses$7,359--$7,359
Insurance$6,790--$6,790
Other Employee Benefits-$5,370-$5,370
Office Expenses-$1,311-$1,311
Advertising-$242-$242
Total Functional Expenses$188,933$44,101$0$233,034

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$250,026
Expenses per Audited Statements$233,034
Total Expenses per Form 990$233,034
Expenses Not Reported on Form 990$16,992
Expenses Not Reported on Financial Statements$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
Tenant Security Deposits$8,127
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
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

The organization has contracted with connecticut real estate management (ctrem) to provide property management services for the project. All employees are employees of ctrem. Salaries, other employee benefits and payroll taxes shown on the form 990 represent reimbursements to ctrem for their employees who work on-site at the organization's apartment complexes. Ctrem provides management, accounting and other services to the property.

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

A draft copy of form 990 was provided to the board of directors for review and approval prior to filing.

Form 990, Part VI, Section B, Line 15

Connecticut real estate management provides the employees and determines their pay rates which are within the board approved budget.

Form 990, Part VI, Section C, Line 18

The organization will make its form 1023 and 990 available upon written request.

Form 990, Part VI, Section C, Line 19

The organization will make its financial statements and other information available upon written request.

Filing and Contact Details

Filer

Filer Name
Sharon Ridge Expansion Corporation
EIN
46-5761700
Phone
8603641372
Address
CO CREM 97 WHEELER VILLAGE DRIVE, SOUTHINGTON, CT 06489

Signing Officer

Name
Brent Colley
Title
Chairman
Phone
8603641372
Signed
2026-01-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brent Colley
Formed
2014
Legal Domicile
Ct
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
4

Preparer

Firm
SEWARD AND MONDE CPA'S
Address
296 STATE STREET, NORTH HAVEN, CT 06473-2165
Preparer
Gayle a Carbone
Phone
2032489341
Supplemental Narrative

Financial Statement Notes

PART XI, LINE 2D - OTHER ADJUSTMENTS:

In-kind interest subsidy 16,992.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

In-kind interest subsidy 16,992.

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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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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0164929
IRS990ScheduleA/Total509Grp/TotalAmt0858615
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0177700
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0153535
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0207497
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0154976
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0164978
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0858686
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt02749290
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0780429
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt03529719
IRS990ScheduleD/ExpensesNotReportedAmt016992
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0233034
IRS990ScheduleD/OtherExpensesIncludedAmt016992
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0156034
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt042601
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0198635
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt08127
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherRevenueAmt016992
IRS990ScheduleD/RevenueNotReportedAmt016992
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0177700
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0IN-KIND INTEREST SUBSIDY 16,992.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1IN-KIND INTEREST SUBSIDY 16,992.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02905324
IRS990ScheduleD/TotalExpensesPerForm990Amt0233034
IRS990ScheduleD/TotalLiabilityAmt08127
IRS990ScheduleD/TotalRevenuePerForm990Amt0177700
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0194692
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0250026
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS CONTRACTED WITH CONNECTICUT REAL ESTATE MANAGEMENT (CTREM) TO PROVIDE PROPERTY MANAGEMENT SERVICES FOR THE PROJECT. ALL EMPLOYEES ARE EMPLOYEES OF CTREM. SALARIES, OTHER EMPLOYEE BENEFITS AND PAYROLL TAXES SHOWN ON THE FORM 990 REPRESENT REIMBURSEMENTS TO CTREM FOR THEIR EMPLOYEES WHO WORK ON-SITE AT THE ORGANIZATION'S APARTMENT COMPLEXES. CTREM PROVIDES MANAGEMENT, ACCOUNTING AND OTHER SERVICES TO THE PROPERTY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A DRAFT COPY OF FORM 990 WAS PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CONNECTICUT REAL ESTATE MANAGEMENT PROVIDES THE EMPLOYEES AND DETERMINES THEIR PAY RATES WHICH ARE WITHIN THE BOARD APPROVED BUDGET.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION WILL MAKE ITS FORM 1023 AND 990 AVAILABLE UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION WILL MAKE ITS FINANCIAL STATEMENTS AND OTHER INFORMATION AVAILABLE UPON WRITTEN REQUEST.
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 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt02992984
IRS990/TotalAssetsEOYAmt02936128
IRS990/TotalAssetsGrp/BOYAmt02992984
IRS990/TotalAssetsGrp/EOYAmt02936128
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt044101
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0188933
IRS990/TotalFunctionalExpensesGrp/TotalAmt0233034
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0937871
IRS990/TotalLiabilitiesEOYAmt0936349
IRS990/TotalLiabilitiesGrp/BOYAmt0937871
IRS990/TotalLiabilitiesGrp/EOYAmt0936349
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02055113
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01999779
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0188933
IRS990/TotalProgramServiceRevenueAmt0177697
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt03
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0177697
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0177700
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt04
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02992984
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02936128
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0C/O CREM 97 WHEELER VILLAGE DRIVE
IRS990/USAddress/CityNm0SOUTHINGTON
IRS990/USAddress/StateAbbreviationCd0CT
IRS990/USAddress/ZIPCd006489
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0BRENT COLLEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum08603641372
ReturnHeader/BusinessOfficerGrp/SignatureDt02026-01-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SHARON RIDGE EXPANSION CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0SHAR
ReturnHeader/Filer/EIN0465761700
ReturnHeader/Filer/PhoneNum08603641372
ReturnHeader/Filer/USAddress/AddressLine1Txt0CO CREM 97 WHEELER VILLAGE DRIVE
ReturnHeader/Filer/USAddress/CityNm0SOUTHINGTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CT
ReturnHeader/Filer/USAddress/ZIPCd006489
ReturnHeader/Form8822BAttachedInd0X
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0060530830
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SEWARD AND MONDE CPA'S
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0296 STATE STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NORTH HAVEN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0064732165
ReturnHeader/PreparerPersonGrp/PhoneNum02032489341
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0GAYLE A CARBONE
ReturnHeader/ReturnTs02026-02-12T15:13:38-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-07-01
ReturnHeader/TaxPeriodEndDt02025-06-30
ReturnHeader/TaxYr02024

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