Shelton Economic Development Corporation
475 Howe Ave Ste 202
Shelton CT 06484
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Contact Information
Address 475 Howe Ave Ste 202
Shelton, CT 06484-
Telephone (203) 924-2521 x
Fax 203-924-0547
E-mail sedc1@sheltonedc1.com
Web and Social Media
Web Site http://sheltonedcorp.org
Mission
The Shelton Economic Development Corporation (SEDC) is a non-profit corporation that focuses on the balanced development of the City of Shelton.  The SEDC's goal is to advance the economic development and public welfare of the City of Shelton by promoting and assisting the growth and development of businesses, including the encouragement of public and private partnerships, coordinate planning and development, leverage resources, provide and develop leadership for economic and development activities, revitalizing downtown Shelton, the Shelton riverfront and any other community development activities deemed a priority by the Corporation.  The principle objectives of the Corporation shall be to benefit the community by increasing employment opportunities and the establishment and expansion of business and industry for the citizens of the City of Shelton and surrounding communities.
 
At A Glance
Year of Incorporation 1983
Organization's type of tax exempt status Exempt-Other
Organization received a competitive grant from the community foundation in the past five years Yes
Leadership
CEO/Executive Director Mr. James Edward Ryan
Board Chair Mr. William Charles Partington
Board Chair Company Affiliation Savings Bank of Danbury
Financial Summary
 
Projected Revenue $482,800.00
Projected Expenses $482,800.00
Statements
Mission
The Shelton Economic Development Corporation (SEDC) is a non-profit corporation that focuses on the balanced development of the City of Shelton.  The SEDC's goal is to advance the economic development and public welfare of the City of Shelton by promoting and assisting the growth and development of businesses, including the encouragement of public and private partnerships, coordinate planning and development, leverage resources, provide and develop leadership for economic and development activities, revitalizing downtown Shelton, the Shelton riverfront and any other community development activities deemed a priority by the Corporation.  The principle objectives of the Corporation shall be to benefit the community by increasing employment opportunities and the establishment and expansion of business and industry for the citizens of the City of Shelton and surrounding communities.
 
Background
The Shelton Economic Development Corporation is a 501(c)(3) organized in 1983.  James E. Ryan has been the Executive Director/President since 1984.  The Shelton Economic Development Corporation has a 44-member volunteer board and a staff of three (one part-time).
Impact
*Obtained a grant from the U. S. EDA to be applied towards the required update of a new five-year Comprehensive Economic Development Strategy for the  federally approved Economic Development District (20-town)
*Road infrastructure and utility upgrades for Phase II has been completed on Canal Street of the Shelton Enterprise and Commerce Park.  The next phase is moving towards design.
*Phase II of the Riverwalk Housatonic project has been completed.  The next phase is moving towards design up to the Shelton Locks. 
*Continue brownfields remediation on Samarius, Axton Cross and Cel-lastik sites
*Continue coordination with multiple stakeholders (public and private) in the implementation of new development activities.
*Implement recently awarded grant for the Chromium Process land awarded from the U. S. EPA
*Implement recently awarded grant for the Chromium Parcel building awarded from the CT DECD
*Awarded a second-year grant from the U. S. EDA for the implementation of the newly-developed Comprehensive Economic Development Strategy for the 20-towns 
 
Needs
  • Work with 20-town partnership with rating and ranking of Tier 1 shovel-ready projects for consideration of EDA funding
  • Focus on funding for the next phase of the Shelton Enterprise and Commerce Park (Phase IV) 
  • Continue discussions and negotations with Railroad
  • Continue discussions with Army Corps of Engineers for next phase of infrastructure improvements
  • Coordinate private and public partnerships
 
CEO Statement
The Shelton Economic Development Corporation works to promote economic development for the City of Shelton.  Shelton has become an outstanding example of economic growth within the State of Connecticut through its ability to promote private investment with public funding along with securing federal grants - in particular those focused on the cleanup of contaminated properties.  With the downturn in the economy, Shelton can boast that there has still been an increase in the Grand List due to the retention, expansion and attraction of new businesses in the city.
Board Chair Statement The SEDC presents a unique opportunity for the private sector to partner in a meaningful way with local, regional, state, and federal agencies and organizations to highly impact community economic development needs and opportunities without duplication of effort.
Service Categories
Primary Organization Category Community Improvement, Capacity Building / Economic Development
Areas Served
Ansonia
Derby
Lower Naugatuck Valley
Seymour
Shelton
Oxford
The Shelton Economic Development Corporation promotes economic development within the City of Shelton which in turn benefits the surrounding communities comprising of the Lower Naugatuck Valley.  These communities include Ansonia, Derby, Oxford, Seymour and Shelton.  The downtown corridor has been a major priority of the SEDC and has seen results with the reuse of contaminated properties,  the conversion of a former factory into over 100 condominiums, and the  construction of 250 rental units (Avalon Bay Properties).  A pavilion,  a Farm and Public Market and  a Veterans Memorial are focal points in downtown.
Programs
Phase III and IV Engineering Design
Description
Utility Coordination
Site Improvement Programs
Project Planning
CategoryHelpAs defined by the National Center for Charitable Statistics (NCCS), Program Classification codes are linked to the Nonprofit Program Classification (N.P.C.) coding system (http://nccsdataweb.urban.org). Community Development, General/Other / Community Economic Development
Population Served / /
Riverwalk Extension
Description
Riverwalk Extension from the existing Riverwalk up to the Shelton Locks
CategoryHelpAs defined by the National Center for Charitable Statistics (NCCS), Program Classification codes are linked to the Nonprofit Program Classification (N.P.C.) coding system (http://nccsdataweb.urban.org). Community Development, General/Other / Community Economic Development
Population Served / /
Comprehensive Economic Development Strategy
Description
The Shelton Economic Development Corporation (SEDC) and the Naugatuck Valley Development Corporation (NVC) prepared and submitted a new Comprehensive Economic Development Strategy (CEDS) for the 20-town municipalities that make up the Naugatuck Valley Corridor.  Required by the U. S. Department of Commerce Administration (EDA), the CEDS allows the region to qualify for EDA assistance.  The CEDS is designed to guide the economic growth of the region.  It helps create jobs, fosters more stable and diversified economies, and improves living conditions.  It provides a mechanism for coordinating the resources of individuals, organizations, local governments and private industry concerned with economic development. 
A new updated five-year CEDS is required and the SEDC on behalf of the NVC/EDD was recently awarded a grant in the amount of $70,000 from the U. S. EDA.  A match of $70,000 is being pursued, and the SEDC has procured a consultant and work is proceeding.  
 
A second-year grant of $70,000 was awarded from the U. S. EDA in 2015 towards the implementation of this new five-year CEDS.  A match is required and is being secured.  
CategoryHelpAs defined by the National Center for Charitable Statistics (NCCS), Program Classification codes are linked to the Nonprofit Program Classification (N.P.C.) coding system (http://nccsdataweb.urban.org). Community Development, General/Other / Regional Economic Development
Population Served / /
Brownfields Programs
Description
Manage EPA Programs for Cleanup Studies
Manage EPA Programs for Site Cleanups
Manage CT DECD Programs for Site Cleanups
Manage Site Prioritization with the City
Environmental Land Use Restrictions Coordination
Site Monitoring
Regulated Soils Management and Disposal Upon Request
Grant Planning, Reporting and Administration
Guide "All Appropriate Inquiries" Process Upon Request
 
 
CategoryHelpAs defined by the National Center for Charitable Statistics (NCCS), Program Classification codes are linked to the Nonprofit Program Classification (N.P.C.) coding system (http://nccsdataweb.urban.org). Environment, General/Other / Environmental & Urban Beautification
Population Served / /
CEO/Executive Director
Mr. James Edward Ryan
Term Start Aug 1984
Email sedc1@sheltonedc1.com
Experience
Over 39 years experience in economic development.
Staff
Number of Full Time Staff 2
Number of Part Time Staff 1
Number of Volunteers 44
Number of Contract Staff 1
Staff Retention Rate 100%
Staff Demographics - Ethnicity
African American/Black 0
Asian American/Pacific Islander 0
Caucasian 3
Hispanic/Latino 0
Native American/American Indian 0
Other 0 0
Staff Demographics - Gender
Male 1
Female 2
Unspecified 0
Plans & Policies
Organization has a Fundraising Plan? Yes
Organization has a Strategic Plan? Under Development
Management Succession Plan? Under Development
Organization Policy and Procedures Yes
Nondiscrimination Policy Yes
Whistleblower PolicyHelpThe 2002 Sarbanes-Oxley Act provides certain protections for whistle-blowers and criminal penalties for actions taken in retaliation against whistle-blowers. The Act protects persons who risk their careers by reporting suspected illegal activities in the organization. It is illegal for a corporate entity, for-profit or nonprofit, to punish the whistle-blower in any manner. For more information, visit Independent Sector (http://www.independentsector.org). Yes
Document Destruction PolicyHelpThe 2002 Sarbanes-Oxley Act addresses the destruction of business records and documents and turns intentional document destruction into a process that must be carefully monitored.For more information, visit Independent Sector (http://www.independentsector.org). Yes
Formal Evaluations
CEO Formal Evaluation Yes
CEO/Executive Formal Evaluation Frequency Annually
Senior Management Formal Evaluation Yes
Senior Management Formal Evaluation Frequency Annually
Non Management Formal Evaluation Yes
Non Management Formal Evaluation Frequency Annually
Collaborations
Waterbury Development Corporation
Citizens Advisory Board
Planning and Zoning
Downtown Subcommittee of Planning and Zoning
Economic Development Commission
Derby Shelton Rotary Club
 
Awards
Award/RecognitionOrganizationYear
Celebrate CTState of Connecticut2011
Board Chair
Mr. William Charles Partington
Company Affiliation Savings Bank of Danbury
Term Dec 2015 to Dec 2016
Board of Directors
NameAffiliation
Mr. Stephen Guy Beardsley Guy's Eco Garden
Ms. Elizabeth Camerino-Schultz Aquarion Co.
Mr. Robert F. Caponi Retired
Mr. Patrick Carey Carey and Guarrera Real Estate
Ms. Madelyn Cerritelli Conti Rentals
Mr. Derrick Champagne Pitney Bowes Incorporated
Mr. James Cosgrove Dworken, Hillman, LaMorte & Sterczala
Mr. Martin Coughlin Retired
Mr. Thomas D'Addario D'Addario, Buick, Pontiac, GMC Nissan
Mr. Alvaro DaSilva DSA Corporation
Mr. Edward R. DeMarseilles Curtiss Ryan Honda
Mr. David M. Grant David M. Grant Caterers
Ms. Nicole Grant United Illuminating Co.
Mr. Tim Greer State Farm Insurance
Mr. Thomas Harbinson IDA International, Inc.
Mr. Brett Haywood Riverview Funeral Home, Inc.
Mr. Terry Jones Jones Family Farms
Ms. Michelle Kawalautzki Dana's Pond Construction
Mr. Mark Anthony Lauretti City of Shelton
Ms. Susan LeDonne-Coyle Real Esate Two
Mr. Brian Loffredo Wal-Mart
Mr. Michael Marcinek Fletcher Thompson
Mr. Ralph J. Matto Building Coordinators, Inc.
Ms. Kathleen McNichols Marks Marks of Design
Mr. Ned Miller Ned Miller Associates
Mr. James F. Oram Community Volunteer
Mr. Frank Osak Retired
Mr. Albert Paolozzi People's United Bank
Ms. Ruth Parkins Iroquois Gas
Mr. Anthony Pogoda Community Volunteer
Mr. Yashu (John) Putorti Hubbell Incorporated
Mr. Fred Ruggio Healthcare Solutions Group
Mr. George Ryan Curtiss Ryan Honda
Ms. Mary Ellen Samatulski TD Bank North
Mr. Robert D. Scinto R. D. Scinto Incorporated
Ms. Janice Sheehy Webster Bank
Ms. Cristin Sheehy Tilki Sheehy Associates LLC
Dr. Ramesh Wadhwani SAI Systems, Inc.
Mr. Manuel Weinberg M. Herb
Mr. Phillip White Better Packages
Mr. Charles Wilson Wilson Agency
Mr. James Witkowski Community Volunteer
Board Demographics - Ethnicity
African American/Black 0
Asian American/Pacific Islander 0
Caucasian 42
Hispanic/Latino 0
Native American/American Indian 1
Other 0 0
Board Demographics - Gender
Male 33
Female 10
Unspecified 0
Governance
Board Term Lengths 3
Board Term Limits 0
Board Meeting Attendance %HelpThe Better Business Bureau's Standards for Charity Accountability recommends at least 65% board attendance (http://us.bbb.org). 60%
Number of Full Board Meetings AnnuallyHelpThe Better Business Bureau's Standards for Charity Accountability recommends a minimum of three evenly spaced meetings per year of the full governing body, with a majority in attendance and face-to-face participation (http://us.bbb.org). The Standards for Excellence Institute recommends a minimum of four board meetings per year (www.standardsforexcellenceinstitute.org). 4
Written Board Selection Criteria Yes
Written Conflict of Interest Policy Yes
Percentage Making Monetary Contributions 8%
Percentage Making In-Kind Contributions 4%
Constituency Includes Client Representation Yes
Additional Board/s Members and Affiliations
NameAffiliation
Ms. Judith Augusta Derby Neck Library
Mr. Stephen Guy Beardsley Guy's Eco Garden
Mr. Joseph Bienkowski Town of Fairfield
Mr. Joseph DeFilippo Retired
Mr. Regis Dognin Community Volunteer
Ms. Cheryl Dzuibina Community Volunteer
Mr. Robert Novak, Jr. Community Volunteer
Mr. James F. Oram Retired
Ms. Rebecca Twombly Community Volunteer
Mr. David Zamba Cubitt, Jacobs and Prosek
 
 
Financials
Fiscal Year Start Jan 01 2016
Fiscal Year End Dec 31 2016
Projected Revenue $482,800.00
Projected Expenses $482,800.00
Endowment ValueHelpA legal definition of endowment is used in this system (i.e. restricted assets or a supporting foundation). Rainy day funds are not included in endowments figures. $0.00
Spending Policy N/A
Credit Line No
Reserve Fund No
Documents
Form 990s
Form 9902014
Form 9902013
Form 9902012
Form 9902011
Form 9902010
Form 9902009
Form 9902008
Form 9902007
Audit Documents
Audit2014
Audit2013
Audit 2012-20112012
Audit 2011-20102011
Audit 2009-20102010
Audit2009
Audit2008
IRS Letter of Exemption
IRS Determination Letter
Detailed Financials
Prior Three Years Total Revenue and Expense Totals ChartHelpFinancial data for prior years is entered by foundation staff based on the documents submitted by nonprofit organizations.Foundation staff members enter this information to assure consistency in the presentation of financial data across all organizations.
Fiscal Year201420132012
Total Revenue$393,162$356,081$361,512
Total Expenses$407,535$370,805$384,613
Prior Three Years Revenue Sources ChartHelpThe financial analysis involves a comparison of the IRS Form 990 and the audit report (when available) and revenue sources may not sum to total based on reconciliation differences. Revenue from foundations and corporations may include individual contributions when not itemized separately.
Fiscal Year201420132012
Foundation and
Corporation Contributions		$98,813$81,968$128,323
Government Contributions$287,730$268,886$228,188
Federal------
State------
Local------
Unspecified$287,730$268,886$228,188
Individual Contributions------

Indirect Public Support HelpIndirect public support represents revenue received through solicitation campaigns. This includes funding United Way and other federated fundraising organizations, but does not include donor designated contributions.

------

Earned Revenue HelpEarned revenue represents income generated in direct exchange for a product or service.Earned income includes income from government contracts.

------
Investment Income, Net of Losses$584$867$1,121
Membership Dues------
Special Events------
Revenue In-Kind------
Other$6,035$4,360$3,880
Prior Three Years Expense Allocations Chart
Fiscal Year201420132012
Program Expense$47,869$19,840$27,258
Administration Expense$359,666$350,965$357,355
Fundraising Expense------
Payments to Affiliates------
Total Revenue/Total Expenses0.960.960.94
Program Expense/Total Expenses12%5%7%
Fundraising Expense/Contributed Revenue0%0%0%
Prior Three Years Assets and Liabilities Chart
Fiscal Year201420132012
Total Assets$356,025$257,212$286,220
Current Assets$351,407$252,406$280,413
Long-Term Liabilities------
Current Liabilities$149,964$55,877$63,543
Total Net Assets$206,061$201,335$222,677
Prior Three Years Top Three Funding Sources
Fiscal Year201420132012
Top Funding Source & Dollar Amount --United Illuminating $20,000 --
Second Highest Funding Source & Dollar Amount --The Valley Community Foundation $15,000 --
Third Highest Funding Source & Dollar Amount --Matthies Foundation $15,000 --
Solvency
Short Term Solvency
Fiscal Year201420132012
Current Ratio: Current Assets/Current Liabilities2.344.524.41
Long Term Solvency
Fiscal Year201420132012
Long-Term Liabilities/Total Assets0%0%0%
Capitial Campaign
Currently in a Capital Campaign? No
Comments
Foundation Staff Comments

This profile, including the financial summaries prepared and submitted by the organization based on its own independent and/or internal audit processes and regulatory submissions, has been read by the Foundation. Financial information is inputted by Foundation staff directly from the organization’s IRS Form 990, audited financial statements or other financial documents approved by the nonprofit’s board. The Foundation has not audited the organization’s financial statements or tax filings, and makes no representations or warranties thereon. The Community Foundation is continuing to receive information submitted by the organization and may periodically update the organization’s profile to reflect the most current financial and other information available. The organization has completed the fields required by The Community Foundation and updated their profile in the last year. To see if the organization has received a competitive grant from The Community Foundation in the last five years, please go to the General Information Tab of the profile.
Address 475 Howe Ave Ste 202
Shelton, CT 06484
Primary Phone 203 924-2521
Contact Email sedc1@sheltonedc1.com
Website http://sheltonedcorp.org
CEO/Executive Director Mr. James Edward Ryan
Board Chair Mr. William Charles Partington
Board Chair Company Affiliation Savings Bank of Danbury

 

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