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
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. Kenneth Elmer Schaible
Board Chair Company Affiliation
Key Development, LLC
Financial Summary
Projected Revenue
$446,650.00
Projected Expenses
$446,650.00
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 47-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
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
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
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).
CEO/Executive Director
Mr. James Edward Ryan
Term Start
Aug 1984
Email
sedc1@sheltonedc1.com
Experience
Over 38 years experience in economic development.
Staff
Number of Full Time Staff
2
Number of Part Time Staff
1
Number of Volunteers
47
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
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 Sub Committee of Planning and Zoning
Economic Development Commission
Derby Shelton Rotary Club
Board Chair
Mr. Kenneth Elmer Schaible
Company Affiliation
Key Development, LLC
Term
Jan 1984 to Dec 2014
Email
sedc2@sheltonedc1.com
Board Demographics - Ethnicity
African American/Black
0
Asian American/Pacific Islander
0
Caucasian
46
Hispanic/Latino
0
Native American/American Indian
1
Other
0 0
Board Demographics - Gender
Male
36
Female
11
Unspecified
0
Governance
Board Term Lengths
3
Board Term Limits
0
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
Financials
Fiscal Year Start
Jan 01 2015
Fiscal Year End
Dec 31 2015
Projected Revenue
$446,650.00
Projected Expenses
$446,650.00
Spending Policy
N/A
Detailed Financials
Prior Three Years Expense Allocations Chart
Prior Three Years Assets and Liabilities Chart
Prior Three Years Top Three Funding Sources
Solvency
Short Term Solvency
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.