Civic Intelligence

Naugatuck Economic Development Corporation

990 • Fiscal year 2018 • EIN 56-2320868

Jul 01, 2017 to Jun 30, 2018 • Filed on Sep 27, 2018

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

96th percentile

1.28x

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

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

84th percentile

0.12x

Higher debt load relative to revenue than 84% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Net Margin

29th percentile

-5.6%

Higher net margin than 29% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Top Officer Pay

96th percentile

$74,550

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 64.0% of source-year revenue.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Asset Growth

89th percentile

82%

Faster asset growth than 89% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

42nd percentile

-4.0%

Faster revenue growth than 42% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Assets

Up

$11,060

Up $4,978 (+82%) from 2017

Net Assets

Down

-$3,076

Down $6,504 (-190%) from 2017

Liabilities

Up

$14,136

Up $11,482 (+433%) from 2017

Revenue

Down

$116,450

Down $4,900 (-4.0%) from 2017

Expenses

Down

$122,954

Down $3,070 (-2.4%) from 2017

Net Income

Down

-$6,504

Down $1,830 (-39%) from 2017

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

2018

Assets$11,060
Liabilities$14,136
Net Assets-$3,076

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

2018

Revenue$116,450
Expenses$122,954
Net Income-$6,504
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Sep 27, 2018
Return Version
2017v2.3
Gross Receipts
$116,450
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$4,044$10,221▲ $6,177
Prepaid Expenses and Deferred Charges$1,908$739▼ $1,169
Land, Buildings, and Equipment, Net$30$0▼ $30
Total Assets$6,082$11,060▲ $4,978
Other Assets Total$100$100→ $0
Liabilities
Unsecured Notes Loans Payable-$12,000-
Accounts Payable and Accrued Expenses$2,654$2,136▼ $518
Total Liabilities$2,654$14,136▲ $11,482
Net Assets / Fund Balance
Unrestricted Net Assets$3,428$-3,076▼ $6,504
Total Net Assets Fund Balance$3,428$-3,076▼ $6,504
Total Liabilities and Net Assets / Fund Balance$6,082$11,060▲ $4,978

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$0$12,702$12,702
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Ron PulgieseCEOFT$74,550$74,550

Board Members and Trustees

NameTitle
Rebecca ZandvlietChairman
Terry BarberVice Chairman
Carlos SantosDirector
Chester CornacchiaDirector
Edward FennellDirector
Elizabeth SantoroDirector
Gene FridlandDirector
Glenn DavisDirector
Lisa ShappyDirector
Paul R SimkoDirector
Peter HessDirector
Robert NethDirector
Rosa RebimbasDirector
Seth BronkoDirector
Sharon LockeDirector
Stephanie FuscoDirector
Yvette WilmotSecretary
David RotatoriTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$116,450
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$26,450
Change in Net Assets
$-6,504

Audited Revenue Reconciliation

Revenue per Audited Statements
$116,450
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$116,450
Total Revenue per Form 990
$116,450
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$106,882
Other Expenses$16,072
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$74,550--$74,550
Other Salaries and Wages$20,923--$20,923
Payroll Taxes$8,409--$8,409
Insurance$3,902--$3,902
Pension Plan Contributions$3,000--$3,000
Fees for Services Accounting$2,200--$2,200
Conferences and Meetings$1,815--$1,815
Other Expenses$960--$960
Office Expenses$686--$686
Advertising$168--$168
Information Technology$101--$101
All Other Expenses$98--$98
Depreciation Depletion$30--$30
Total Functional Expenses$122,954$0$0$122,954

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$122,954
Total Expenses per Audited Statements$122,954
Total Expenses per Form 990$122,954
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 11B

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
2018-09-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ron Pugliese
Formed
2002
Legal Domicile
Ct
Voting Board Members
18
Independent Board Members
18
Employees
2
Volunteers
18

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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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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IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt012702
IRS990/LandBldgEquipBasisNetGrp/BOYAmt030
IRS990/LandBldgEquipBasisNetGrp/EOYAmt00
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/NetAssetsOrFundBalancesBOYAmt03428
IRS990/NetAssetsOrFundBalancesEOYAmt0-3076
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/ProgramServicesAmt0686
IRS990/OfficeExpensesGrp/TotalAmt0686
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0100
IRS990/OtherAssetsTotalGrp/EOYAmt0100
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0TELEPHONE
IRS990/OtherExpensesGrp/Desc1UTILITIES
IRS990/OtherExpensesGrp/Desc2PAYROLL SERVICE
IRS990/OtherExpensesGrp/Desc3RENT
IRS990/OtherExpensesGrp/ProgramServicesAmt02244
IRS990/OtherExpensesGrp/ProgramServicesAmt12047
IRS990/OtherExpensesGrp/ProgramServicesAmt21821
IRS990/OtherExpensesGrp/ProgramServicesAmt3960
IRS990/OtherExpensesGrp/TotalAmt02244
IRS990/OtherExpensesGrp/TotalAmt12047
IRS990/OtherExpensesGrp/TotalAmt21821
IRS990/OtherExpensesGrp/TotalAmt3960
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt020923
IRS990/OtherSalariesAndWagesGrp/TotalAmt020923
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ProgramServicesAmt08409
IRS990/PayrollTaxesGrp/TotalAmt08409
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt03000
IRS990/PensionPlanContributionsGrp/TotalAmt03000
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt01908
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0739
IRS990/PrincipalOfficerNm0RON PUGLIESE
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0121350
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt019139
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-4674
IRS990/PYSalariesCompEmpBnftPaidAmt0106885
IRS990/PYTotalExpensesAmt0126024
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0121350
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-6504
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0116450
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0121350
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0121125
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0116750
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0126365
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0602040
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct01.00000
IRS990ScheduleA/PublicSupportPY170Pct01.00000
IRS990ScheduleA/PublicSupportTotal170Amt0602040
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0116450
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0121350
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0121125
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0116750
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0126365
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0602040
IRS990ScheduleA/TotalSupportAmt0602040
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt012702
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt012702
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0122954
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0116450
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0122954
IRS990ScheduleD/TotalRevenuePerForm990Amt0116450
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0116450
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0122954
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 11B
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/TotalAssetsBOYAmt06082
IRS990/TotalAssetsEOYAmt011060
IRS990/TotalAssetsGrp/BOYAmt06082
IRS990/TotalAssetsGrp/EOYAmt011060
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0116450
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0122954
IRS990/TotalFunctionalExpensesGrp/TotalAmt0122954
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02654
IRS990/TotalLiabilitiesEOYAmt014136
IRS990/TotalLiabilitiesGrp/BOYAmt02654
IRS990/TotalLiabilitiesGrp/EOYAmt014136
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03428
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-3076
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0122954
IRS990/TotalReportableCompFromOrgAmt074550
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0116450
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt018
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt06082
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt011060

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

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