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 sedc4@sheltonedc1.com
Web and Social Media
Web Site http://sheltonedc.com
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. Paul Joseph Grimmer
Board Chair Mr. William Charles Partington
Board Chair Company Affiliation Savings Bank of Danbury
Financial Summary
Revenue vs Expenses Bar Graph - All Years
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.  Paul J. Grimmer has been appointed as President of the corporation in 2016 and brings over 20 years of experience in community and economic development.  The Shelton Economic Development Corporation has a 44-member volunteer board and a staff of four (two part-time).
Impact
*Road infrastructure and utility upgrades for Phase II has been completed on Canal Street.  The next phase has gone out to bid and the contractor has started.  
*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 as well as the Chromium Process land parcel 
*Continue coordination with multiple stakeholders (public and private) in the implementation of new development activities.
*Implement grant in the amount of $1.5 million for the demolition of the Chromium Process site awarded from the CT DECD 
*Implement recently awarded U. S. EPA grant for the Chromium Process site "post demolition"
*Implement recently awarded grant from the CT DECD towards the demolition and environmental remediation of 223 Canal Street 
 *Implement most recent grant award from the U. S. EPA for an area-wide assessment of Canal Street and downtown
*Implement and assist with recent grant award from CT DECD for 267 Canal Street 
Needs
  • 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
Lower Naugatuck Valley
Shelton
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 Shelton, Ansonia, Derby, Oxford, and Seymour.  The downtown corridor has been a major priority of the SEDC and has seen results with the reuse of contaminated properties, i.e. 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
Canal Street - Phase III Engineering Design
Description
The SEDC's efforts to impact the growth and redevelopment of Canal Street includes the design, engineering and construction of the public infrastructure along Canal Street.  The project will include road reconstruction, extension pedestrian sidewalks, and underground of all utilities in support of 400+ units of rental and owner occupied housing. Program outcomes includes new and affordable housing development, expansion of the public infrastructure, creation of green spaces / public recreation and job expansion. 
BudgetHelpSome organizations have unified budgeting and do not budget by program. Because of this, some budget fields may be blank or represent an approximation. $2,000,000.00
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 General/Unspecified / Families / Adults
Program is linked to organization’s mission and strategy Yes
Program is frequently assessed based on predetermined program goals Yes
Short Term SuccessHelpOrganizations describe near term achievement(s) or improvement(s) that will result from this program. This may represent immediate outcomes occurring as a result of the end of a session or service. Completion of 1/2 miles of road improvements including underground utilities, new sidewalks, hazardous materials cleanup and demolition of 223 Canal Street.  Construction of 250 market rate rental housing, 100 units of owner occupied housing and 68 units of tiered income housing by NeighborWorks New Horizons.
Long Term SuccessHelpOrganizations describe the ultimate change(s) that will result from this program. This may be far into the future and represent an ideal state. This program will provide for the infrastructure improvement of 1/4 mile of road surface along Canal Street and Wooster Street; support the reclamation of up to 6 acres of previously contaminated of blighted industrial properties, encourage the creation / construction of up to 150 new residential housing units, enable the extension of the Housatonic Riverwalk and create 200 short and long term employment opportunities. 
Program Success Monitored ByHelpOrganizations describe the tools used to measure or track program impact. The Shelton Economic Development Corporation will oversee the project activities on behalf of the City of Shelton. Project reports are provided to the State of CT Department of Economic and Community Development as well as the U.S. Environmental Protection Agency as needed.
Examples of Program SuccessHelpOrganization's site specific examples of changes in clients' behaviors or testimonies of client's changes to demonstrate program success. The project is nearing completion.  Approximately 90% of all funds have been expended and 3/4's of the public infrastructure improvements have been completed; 250 Units of rental housing and 103 units of owner occupied housing has been developed, an estimated 200 short term construction jobs were created and 20 long term employment opportunities were developed.  The balance of public infrastructure will be completed by Aug. 2017 and the final elements including the construction of the tiered income housing will be constructed in 2018.
Riverwalk Extension
Description
Riverwalk Extension from the existing Riverwalk up to the Shelton Locks
BudgetHelpSome organizations have unified budgeting and do not budget by program. Because of this, some budget fields may be blank or represent an approximation. $500,000.00
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 / /
Short Term SuccessHelpOrganizations describe near term achievement(s) or improvement(s) that will result from this program. This may represent immediate outcomes occurring as a result of the end of a session or service. The development of the Housatonic Riverwalk has been completed in phases.  The current effort is to extend the Riverwalk from the Veterans' Memorial Park to Canal Street.  The final length of (1/4 mile) the Riverwalk will extend from 223 Canal Street to 267 Canal Street.
Long Term SuccessHelpOrganizations describe the ultimate change(s) that will result from this program. This may be far into the future and represent an ideal state. The goal of the Housatonic Riverwalk is to provide a 1 mile brick-paved walking path along the Housatonic River from the Route 8 Bridge to the Entrance of the Shelton Locks.  
Program Success Monitored ByHelpOrganizations describe the tools used to measure or track program impact. The Shelton Economic Development Corporation will oversee the project activities on behalf of the City of Shelton. Project reports are provided to the State of CT Department of Economic and Community Development as well as the U.S. Environmental Protection Agency as needed.
Examples of Program SuccessHelpOrganization's site specific examples of changes in clients' behaviors or testimonies of client's changes to demonstrate program success. The Riverwalk in its current form is visited each day by numerous individuals throughout he year.  During the Spring, Summer in Fall the riverwalk is used by 1,000 people per month.  As more individuals become aware of the attraction and access to the riverfront, the usage increases.  
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
 
 
BudgetHelpSome organizations have unified budgeting and do not budget by program. Because of this, some budget fields may be blank or represent an approximation. $3,000,000.00
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 General/Unspecified / Families / General/Unspecified
Program is linked to organization’s mission and strategy Yes
Program is frequently assessed based on predetermined program goals Yes
Short Term SuccessHelpOrganizations describe near term achievement(s) or improvement(s) that will result from this program. This may represent immediate outcomes occurring as a result of the end of a session or service. Creation of the Veteran's Memorial Park, installation of the Veteran's War Memorial, Development of the Shelton Farm and Public Market and construction of the Housatonic Riverwalk. Combined, these public spaces generate an estimated 75,000 visitors each year. In addition to the above, the SEDC has managed the environmental remediation of twelve acres of land spanning eight properties. The remediation may include the removal of hazardous materials, demolition of blighted properties and clean-up of contaminated soils and groundwater. The result has been improvements to the health, safety and welfare of the community, construction of 353 units of housing and creation of 200 short and 20 long term jobs.
Long Term SuccessHelpOrganizations describe the ultimate change(s) that will result from this program. This may be far into the future and represent an ideal state. Brownfield Redevelopment is the primary program goal of the Shelton Economic Development Corporation.  From this focus comes all other valued outcomes, including: environmental cleanup, demolition of blighted properties, housing construction, economic development, public infrastructure improvements, and job creation.  Since the inception of the program, the SEDC has worked to develop the six acre Veteran's Memorial Park, developed the Shelton Farm and Public Market, created the Housatonic Riverwalk.  Other work include nearly 3/4 of a mile of infrastructure improvements, including new roads and sidewalks.  6 properties have been or are currently under active brownfield remediation and nearly 22 million dollars have been received from local, state and federal resources.  
Program Success Monitored ByHelpOrganizations describe the tools used to measure or track program impact. The Shelton Economic Development Corporation will oversee the project activities on behalf of the City of Shelton. Project reports are provided to the State of CT Department of Economic and Community Development as well as the U.S. Environmental Protection Agency as needed.
Examples of Program SuccessHelpOrganization's site specific examples of changes in clients' behaviors or testimonies of client's changes to demonstrate program success. Creation of the Veteran's Memorial Park, installation of the Veteran's War Memorial, Development of the Shelton Farm and Public Market and construction of the Housatonic Riverwalk.   Combined, these public spaces generate an estimated 75,000 visitors each year.  In addition to the above, the SEDC has managed the environmental remediation of twelve acres of land spanning eight properties.  The remediation may include the removal of hazardous materials, demolition of blighted properties and clean-up of contaminated soils and groundwater.  The result has been improvements to the health, safety and welfare of the community, construction of 353 units of housing and creation of 200 short and 20 long term jobs.  
Chromium Process Building/Site Demolition
Description  Implement and oversee the grant award of over $1.5 million from the CT DECD towards the demolition of the Chromium Process building located within the downtown corridor
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 General/Unspecified / Families /
Program is linked to organization’s mission and strategy Yes
Program is frequently assessed based on predetermined program goals Yes
Short Term SuccessHelpOrganizations describe near term achievement(s) or improvement(s) that will result from this program. This may represent immediate outcomes occurring as a result of the end of a session or service.
Demolition of a 36,000 square foot building, removal of 1,200 tons of environmentally contaminated materials, including; 
800 tons of wood waste and asbestos items, 500 tons of hazardous waste (impacted concrete and brick), 200 tons of hazardous wastes (containerize materials/plating wastes), and 5,000 gallons of contaminated fluids (drums and tanks)
Long Term SuccessHelpOrganizations describe the ultimate change(s) that will result from this program. This may be far into the future and represent an ideal state. The demolition of a blighted structure directly affecting the health, safety and welfare of the local population.  Key elements of the program is removal of hazardous materials such as Asbestos, Arsenic, Chromium, Cyanide, and lead from the immediate area and providing a safe clean environment for the local population.  In the long term, the property will be converted into a public municipal parking (75+ Spaces) to serve the developmental needs of the City's downtown, 
Program Success Monitored ByHelpOrganizations describe the tools used to measure or track program impact.

The Shelton Economic Development Corporation will oversee the demolition and environmental clean up of the site on behalf of the City of Shelton.  Project reports are provided to the State of CT Department of Economic and Community Development as well as the U.S. Environmental Protection Agency. 

Examples of Program SuccessHelpOrganization's site specific examples of changes in clients' behaviors or testimonies of client's changes to demonstrate program success.
The structure has been fully demolished and 1,500 tons and 5,000 gallons of environmental contamination has been removed from the site. The demolition project is on target for completion by May 31, 2017.
 
Final Disposition of the site will include the design and construction of a new 75 car municipal parking lot. 
223 Canal Street
Description  Implement and oversee the grant award of $875,000 from the CT DECD towards the remediation and demolition of 223 Canal Street located within the downtown corridor.   
BudgetHelpSome organizations have unified budgeting and do not budget by program. Because of this, some budget fields may be blank or represent an approximation. $1,080,000.00
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 General/Unspecified / Families /
Program is linked to organization’s mission and strategy Yes
Program is frequently assessed based on predetermined program goals Yes
Short Term SuccessHelpOrganizations describe near term achievement(s) or improvement(s) that will result from this program. This may represent immediate outcomes occurring as a result of the end of a session or service. Complete the environmental remediation and demolition of a 40,000 sf building.  Additional work to include minor soil clean up to provide a property cleaned to residential standards as defined by State of CT Department of Energy and Environmental Protection.
Long Term SuccessHelpOrganizations describe the ultimate change(s) that will result from this program. This may be far into the future and represent an ideal state. The environmental clean up and demolition of the existing structure will lead to the construction of 68 tiered income housing units by NeighborWorks New Horizons in 2018.
Program Success Monitored ByHelpOrganizations describe the tools used to measure or track program impact. The Shelton Economic Development Corporation will oversee the project activities on behalf of the City of Shelton. Project reports are provided to the State of CT Department of Economic and Community Development as well as the U.S. Environmental Protection Agency as needed.
Examples of Program SuccessHelpOrganization's site specific examples of changes in clients' behaviors or testimonies of client's changes to demonstrate program success. The program has been successfully bid and a contractor has been selected.  The Contractor officially started their work to complete the remediation and demolition of the property.  It is estimated that the project will conclude by June 30, 2017.
CEO/Executive Director
Mr. Paul Joseph Grimmer
Term Start Apr 2016
Email sedc4@sheltonedc1.com
Experience
Over 20 years experience in community and economic development.
Staff
Number of Full Time Staff 2
Number of Part Time Staff 2
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 4
Hispanic/Latino 0
Native American/American Indian 0
Other 0 0
Staff Demographics - Gender
Male 1
Female 3
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
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
Environmental AwardU. S. EPA2017
Board Chair
Mr. William Charles Partington
Company Affiliation Savings Bank of Danbury
Term Dec 2015 to Dec 2017
Board of Directors
NameAffiliation
Mr. Stephen Guy Beardsley Guy's Eco Garden
Ms. Karen Bentlage Future Industries
Ms. Elizabeth Camerino-Schultz Aquarion Co.
Mr. Robert F. Caponi Retired
Mr. Bing Carbone Modern Plastics
Mr. Patrick Carey Carey and Guarrera Real Estate
Ms. Madelyn Cerritelli Conti Rentals
Mr. Derrick Champagne Pitney Bowes Incorporated
Mr. Martin Coughlin Retired
Ms. Susan Coyle Real Estate Two
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. Thomas Harbinson IDA International, Inc.
Mr. Terry Jones Jones Family Farms
Ms. Michelle Kawalautzki Dana's Pond Construction
Mr. Mark A. Lauretti City of Shelton
Mr. Brian Loffredo Wal-Mart
Mr. Michael Marcinek Fletcher Thompson
Ms. Kathleen Marks Marks of Design
Mr. Alberto Martins Dworken, Hillman, LaMorte & Sterczala
Mr. Ralph J. Matto Building Coordinators, Inc.
Mr. Thomas McGorty Preferred Lighting
Mr. Angelo Melisi Bridge Street Partners
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. Kenneth E. Schaible Key Development, LLC
Mr. Robert D. Scinto R. D. Scinto Incorporated
Ms. Janice Sheehy Webster Bank
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 43
Hispanic/Latino 0
Native American/American Indian 0
Other 0 1
Board Demographics - Gender
Male 34
Female 10
Unspecified 1
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 2017
Fiscal Year End Dec 31 2017
Projected Revenue $454,400.00
Projected Expenses $454,400.00
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 9902015
Form 9902014
Form 9902013
Form 9902012
Form 9902011
Form 9902010
Form 9902009
Form 9902008
Form 9902007
Audit Documents
Audit 20152015
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 Year201520142013
Total Revenue$537,583$393,162$356,081
Total Expenses$530,181$407,535$370,805
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 Year201520142013
Foundation and
Corporation Contributions		$105,787$98,813$81,968
Government Contributions$431,731$287,730$268,886
Federal------
State------
Local$100,000$95,000--
Unspecified$331,731$192,730$268,886
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$65$584$867
Membership Dues------
Special Events------
Revenue In-Kind------
Other--$6,035$4,360
Prior Three Years Expense Allocations Chart
Fiscal Year201520142013
Program Expense$151,864$47,869$19,840
Administration Expense$378,317$359,666$350,965
Fundraising Expense------
Payments to Affiliates------
Total Revenue/Total Expenses1.010.960.96
Program Expense/Total Expenses29%12%5%
Fundraising Expense/Contributed Revenue0%0%0%
Prior Three Years Assets and Liabilities Chart
Fiscal Year201520142013
Total Assets$392,607$356,025$257,212
Current Assets$386,354$351,407$252,406
Long-Term Liabilities------
Current Liabilities$179,144$149,964$55,877
Total Net Assets$213,493$206,061$201,335
Prior Three Years Top Three Funding Sources
Fiscal Year201520142013
Top Funding Source & Dollar AmountCity of Shelton $100,000City of Shelton $95,000United Illuminating $20,000
Second Highest Funding Source & Dollar AmountUIL Foundation $17,500UIL Foundation $12,500The Valley Community Foundation $15,000
Third Highest Funding Source & Dollar AmountKatharine Matthies Foundation $17,500Katharine Matthies Foundation $17,500Matthies Foundation $15,000
Solvency
Short Term Solvency
Fiscal Year201520142013
Current Ratio: Current Assets/Current Liabilities2.162.344.52
Long Term Solvency
Fiscal Year201520142013
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 sedc4@sheltonedc1.com
Website http://sheltonedc.com
CEO/Executive Director Mr. Paul Joseph Grimmer
Board Chair Mr. William Charles Partington
Board Chair Company Affiliation Savings Bank of Danbury

 

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