Civic Intelligence

Naugatuck Economic Development Corporation

990 • Fiscal year 2016 • EIN 56-2320868

Jul 01, 2015 to Jun 30, 2016 • Filed on Sep 24, 2016

270 Church StreetNaugatuck, CT 06770

(203) 723-4411

Siviq Scores

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

Liabilities / Assets

87th percentile

0.37x

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

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

74th percentile

0.04x

Higher debt load relative to revenue than 74% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Net Margin

35th percentile

-2.3%

Higher net margin than 35% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Top Officer Pay

96th percentile

$73,389

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 60.6% of source-year revenue.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Asset Growth

16th percentile

-28%

Faster asset growth than 16% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

55th percentile

3.7%

Faster revenue growth than 55% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Assets

Down

$12,764

Down $4,882 (-28%) from 2015

Net Assets

Down

$8,102

Down $2,760 (-25%) from 2015

Liabilities

Down

$4,662

Down $2,122 (-31%) from 2015

Revenue

Up

$121,125

Up $4,375 (+3.7%) from 2015

Expenses

Up

$123,885

Up $5,384 (+4.5%) from 2015

Net Income

Down

-$2,760

Down $1,009 (-58%) from 2015

Historical Trend

Balance Sheet Trend

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

$60K$40K$20K$0-$20KAssets 2012: $21,821Liabilities 2012: $4,639Net Assets 2012: $17,1822012Assets 2013: $16,604Liabilities 2013: $3,841Net Assets 2013: $12,7632013Assets 2014: $17,196Liabilities 2014: $4,583Net Assets 2014: $12,6132014Assets 2015: $17,646Liabilities 2015: $6,784Net Assets 2015: $10,8622015Assets 2016: $12,764Liabilities 2016: $4,662Net Assets 2016: $8,1022016Assets 2017: $6,082Liabilities 2017: $2,654Net Assets 2017: $3,4282017Assets 2018: $11,060Liabilities 2018: $14,136Net Assets 2018: -$3,0762018Assets 2019: $6,484Liabilities 2019: $2,522Net Assets 2019: $3,9622019Assets 2020: $7,369Liabilities 2020: $3,213Net Assets 2020: $4,1562020Assets 2021: $20,589Liabilities 2021: $3,590Net Assets 2021: $16,9992021Assets 2022: $23,528Liabilities 2022: $4,126Net Assets 2022: $19,4022022Assets 2023: $29,187Liabilities 2023: $5,219Net Assets 2023: $23,9682023Assets 2024: $27,835Liabilities 2024: $4,610Net Assets 2024: $23,2252024Assets 2025: $40,947Liabilities 2025: $1,544Net Assets 2025: $39,4032025

Highlighted filing

2016

Assets$12,764
Liabilities$4,662
Net Assets$8,102

Operations Trend

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

$150K$100K$50K$0-$50KExpenses 2012: $120,4852012Expenses 2013: $128,2192013Revenue 2014: $126,365Expenses 2014: $126,515Net Income 2014: -$1502014Revenue 2015: $116,750Expenses 2015: $118,501Net Income 2015: -$1,7512015Revenue 2016: $121,125Expenses 2016: $123,885Net Income 2016: -$2,7602016Revenue 2017: $121,350Expenses 2017: $126,024Net Income 2017: -$4,6742017Revenue 2018: $116,450Expenses 2018: $122,954Net Income 2018: -$6,5042018Revenue 2019: $128,500Expenses 2019: $121,462Net Income 2019: $7,0382019Revenue 2020: $120,312Expenses 2020: $120,118Net Income 2020: $1942020Revenue 2021: $131,500Expenses 2021: $118,657Net Income 2021: $12,8432021Revenue 2022: $124,830Expenses 2022: $122,427Net Income 2022: $2,4032022Revenue 2023: $127,680Expenses 2023: $123,114Net Income 2023: $4,5662023Revenue 2024: $123,045Expenses 2024: $123,788Net Income 2024: -$7432024Revenue 2025: $125,130Expenses 2025: $108,952Net Income 2025: $16,1782025

Highlighted filing

2016

Revenue$121,125
Expenses$123,885
Net Income-$2,760
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Sep 24, 2016
Return Version
2015v2.1
Gross Receipts
$121,125
Mission and Program Overview

Mission

To promote economic development in the borough of naugatuck, connecticut

Advance the economic development and public welfare of the borough of naugatuck, a municipal organized and existing under the state of connecticut by promoting and assisting the development of business and industry for the borough of naugatuck, including but not limited to by encouraging of public and private partnerships, coordinating of planning and development, leveraging of resources, providing and developing leadership for economic and development activities, revitalizing downtown naugatuck, providing technical support to local business, and other community development activities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$15,607$10,637▼ $4,970
Prepaid Expenses and Deferred Charges$1,789$1,937▲ $148
Land, Buildings, and Equipment, Net$150$90▼ $60
Total Assets$17,646$12,764▼ $4,882
Other Assets Total$100$100→ $0
Liabilities
Accounts Payable and Accrued Expenses$6,784$4,662▼ $2,122
Total Liabilities$6,784$4,662▼ $2,122
Net Assets / Fund Balance
Unrestricted Net Assets$10,862$8,102▼ $2,760
Total Net Assets Fund Balance$10,862$8,102▼ $2,760
Total Liabilities and Net Assets / Fund Balance$17,646$12,764▼ $4,882

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$90$12,612$12,702
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Ron PulgieseCEOFT$73,389$73,389

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$121,125
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$27,075
Change in Net Assets
$-2,760

Audited Revenue Reconciliation

Revenue per Audited Statements
$121,125
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$121,125
Total Revenue per Form 990
$121,125
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$103,540
Other Expenses$20,345
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$73,389--$73,389
Other Salaries and Wages$19,125--$19,125
Payroll Taxes$8,080--$8,080
Insurance$4,833--$4,833
Pension Plan Contributions$2,946--$2,946
Advertising$2,626--$2,626
Fees for Services Accounting$2,200--$2,200
Travel$1,420--$1,420
Office Expenses$1,156--$1,156
Other Expenses$900--$900
Occupancy$679--$679
Information Technology$373--$373
All Other Expenses$196--$196
Depreciation Depletion$60--$60
Total Functional Expenses$123,885$0$0$123,885

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$123,885
Total Expenses per Audited Statements$123,885
Total Expenses per Form 990$123,885
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

The tax return is issued in draft, then reviewed by management and comments and changes are proposed and made before the file copies go out.

Form 990, Part VI, Section B, Line 15A

Employees salaries are reviewed annually and are tied to the funds received from the town.

Form 990, Part VI, Section C, Line 18

UPON REQUEST

Form 990, Part VI, Section C, Line 19

UPON REQUEST

Filing and Contact Details

Filer

Filer Name
Naugatuck Economic Development
EIN
56-2320868
Phone
2037234411
Address
270 CHURCH STREET, NAUGATUCK, CT 06770

Signing Officer

Name
Ron Pugliese
Title
CEO
Phone
2037234411
Signed
2016-09-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ron Pugliese
Formed
2002
Legal Domicile
Ct
Voting Board Members
20
Independent Board Members
20
Employees
2
Volunteers
20

Preparer

Firm
Kircaldie Randall & Mcnab LLC
Address
605 WASHINGTON AVENUE, NORTH HAVEN, CT 06473-1187
Preparer
John F Onofrio CPA
Phone
2032394478
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 2C

Board of directors review auditor anually, and the audit report and form 990 are issued by the auditor in draft form and then reviewed by the board before the report and tax return are issued as final copies

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IRS990/LandBldgEquipAccumDeprecAmt012612
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0150
IRS990/LandBldgEquipBasisNetGrp/EOYAmt090
IRS990/LandBldgEquipCostOrOtherBssAmt012702
IRS990/LegalDomicileStateCd0CT
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO PROMOTE ECONOMIC DEVELOPMENT IN THE BOROUGH OF NAUGATUCK, CONNECTICUT
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt010862
IRS990/NetAssetsOrFundBalancesEOYAmt08102
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt0679
IRS990/OccupancyGrp/TotalAmt0679
IRS990/OfficeExpensesGrp/ProgramServicesAmt01156
IRS990/OfficeExpensesGrp/TotalAmt01156
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0100
IRS990/OtherAssetsTotalGrp/EOYAmt0100
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0TELEPHONE
IRS990/OtherExpensesGrp/Desc1PAYROLL SERVICE
IRS990/OtherExpensesGrp/Desc2UTILITIES
IRS990/OtherExpensesGrp/Desc3MOVING
IRS990/OtherExpensesGrp/ProgramServicesAmt02491
IRS990/OtherExpensesGrp/ProgramServicesAmt12203
IRS990/OtherExpensesGrp/ProgramServicesAmt21208
IRS990/OtherExpensesGrp/ProgramServicesAmt3900
IRS990/OtherExpensesGrp/TotalAmt02491
IRS990/OtherExpensesGrp/TotalAmt12203
IRS990/OtherExpensesGrp/TotalAmt21208
IRS990/OtherExpensesGrp/TotalAmt3900
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt019125
IRS990/OtherSalariesAndWagesGrp/TotalAmt019125
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ProgramServicesAmt08080
IRS990/PayrollTaxesGrp/TotalAmt08080
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt02946
IRS990/PensionPlanContributionsGrp/TotalAmt02946
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt01789
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt01937
IRS990/PrincipalOfficerNm0RON PUGLIESE
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0116750
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt018536
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-1751
IRS990/PYSalariesCompEmpBnftPaidAmt099965
IRS990/PYTotalExpensesAmt0118501
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0116750
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-2760
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0121125
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0116750
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0126365
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0123800
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0124350
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0612390
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct01.00000
IRS990ScheduleA/PublicSupportPY170Pct01.00000
IRS990ScheduleA/PublicSupportTotal170Amt0612390
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0121125
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0116750
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0126365
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0123800
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0124350
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0612390
IRS990ScheduleA/TotalSupportAmt0612390
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt090
IRS990ScheduleD/EquipmentGrp/DepreciationAmt012612
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt012702
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0123885
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0121125
IRS990ScheduleD/TotalBookValueLandBuildingsAmt090
IRS990ScheduleD/TotalExpensesPerForm990Amt0123885
IRS990ScheduleD/TotalRevenuePerForm990Amt0121125
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0121125
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0123885
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE TAX RETURN IS ISSUED IN DRAFT, THEN REVIEWED BY MANAGEMENT AND COMMENTS AND CHANGES ARE PROPOSED AND MADE BEFORE THE FILE COPIES GO OUT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EMPLOYEES SALARIES ARE REVIEWED ANNUALLY AND ARE TIED TO THE FUNDS RECEIVED FROM THE TOWN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BOARD OF DIRECTORS REVIEW AUDITOR ANUALLY, AND THE AUDIT REPORT AND FORM 990 ARE ISSUED BY THE AUDITOR IN DRAFT FORM AND THEN REVIEWED BY THE BOARD BEFORE THE REPORT AND TAX RETURN ARE ISSUED AS FINAL COPIES
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 2C
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt017646
IRS990/TotalAssetsEOYAmt012764
IRS990/TotalAssetsGrp/BOYAmt017646
IRS990/TotalAssetsGrp/EOYAmt012764
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0121125
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0123885
IRS990/TotalFunctionalExpensesGrp/TotalAmt0123885
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt06784

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.41$0.02$0.39$1.25$1.09$0.16
2024Detailed filing. Detailed filing data is available for this year.$0.28$0.05$0.23$1.23$1.24$0.01
2023Detailed filing. Detailed filing data is available for this year.$0.29$0.05$0.24$1.28$1.23$0.05
2022Detailed filing. Detailed filing data is available for this year.$0.24$0.04$0.19$1.25$1.22$0.02
2021Detailed filing. Detailed filing data is available for this year.$0.21$0.04$0.17$1.32$1.19$0.13
2020Detailed filing. Detailed filing data is available for this year.$0.07$0.03$0.04$1.20$1.20$0.00
2019Detailed filing. Detailed filing data is available for this year.$0.06$0.03$0.04$1.29$1.21$0.07
2018Detailed filing. Detailed filing data is available for this year.$0.11$0.14$0.03$1.16$1.23$0.07
2017Detailed filing. Detailed filing data is available for this year.$0.06$0.03$0.03$1.21$1.26$0.05
2016Detailed filing. Detailed filing data is available for this year.$0.13$0.05$0.08$1.21$1.24$0.03
2015Detailed filing. Detailed filing data is available for this year.$0.18$0.07$0.11$1.17$1.19$0.02
2014Detailed filing. Detailed filing data is available for this year.$0.17$0.05$0.13$1.26$1.27$0.00
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.17$0.04$0.13$1.28
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.22$0.05$0.17$1.20
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2016 filings • 501(c)3 • <$500k nonprofits