Meriden Economic Development Corp
- Assets
- $350.6k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Meriden, CT
- Founding
- 09/1979
- Data as of
- 06/2022
- EIN
- 06-1007618
Organization Overview
Meriden Economic Development Corp is located in Meriden, CT. The organization was established in 1979. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Meriden Economic Development Corp is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Meriden Economic Development Corp generated $75.4k in total revenue. All expenses for the organization totaled $114.5k during the year ending 06/2022. While expenses have increased by 26.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
PROMOTE ECONOMIC HEALTH MERIDEN AREA, BUSINESS DEVELOPMENT, PROPERTY DEVELOPMENT TO ATTRACT BUSINESS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas J Welsh President/dir | 1 | $0 | |
Imran Saeed Treasurer/dir | 1 | $0 | |
Tim Coon Director | 0.25 | $0 | |
Dan Quesnel Vice Pres/dir | 1 | $0 | |
Frank W Ridley Secretary/dir | 1 | $0 | |
Kenneth Mango Director | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $65,000 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $10,431 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $75,431 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $2,080 |
| Occupancy, rent, utilities, and maintenance | $12,225 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $75,181 |
| Total expenses | $114,486 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $256,088 |
| Other assets | $0 |
| Total assets | $350,551 |
| Total liabilities | $0 |
| Net assets or fund balances | $350,551 |
Grants Awarded
Over the last fiscal year, Meriden Economic Development Corp has awarded $35,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CT MAIN ST CENTER | | | $25,000 |
FREINDS MERIDEN PUB LIBRARY | | | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
43north Bpc Inc Buffalo, NY | $13,425,800 | $3,001,464 |
Grameen America Inc Jackson Heights, NY | $237,127,552 | $50,248,348 |
Provport Inc Providence, RI | $45,314,013 | $11,716,204 |
Homestart Inc Boston, MA | $5,713,584 | $14,864,192 |
The Community Action Agency Of Western Connecticut Inc Danbury, CT | $3,614,776 | $12,103,732 |
Massachusetts Manufacturing Extension Partnership Inc Auburn, MA | $5,456,400 | $10,807,956 |
Greater Jamaica Development Corp Jamaica, NY | $43,416,674 | $8,397,998 |
South Bronx Overall Economic Development Corporation Bronx, NY | $11,273,834 | $9,485,057 |
Dorchester Bay Economic Development Corporation Dorchester, MA | $50,118,730 | $16,286,134 |
National Basketball Association Foundation New York, NY | $26,984,536 | $31,000,000 |
Rdc Commercial Center Inc Brooklyn, NY | $15,313,985 | $4,091,889 |
Grow America Fund Inc Brooklyn, NY | $143,748,091 | $12,181,976 |