Clasp Homes Inc
- Assets
- $7.8m
- Revenue
- $10.0m
- Investments
- $0.0
- Employees
- 149
- Location
- Westport, CT
- Founding
- 03/1983
- Data as of
- 06/2022
- EIN
- 06-1074055
Organization Overview
Clasp Homes Inc is located in Westport, CT. The organization was established in 1983. According to its NTEE Classification (P80) the organization is classified as: Centers to Support the Independence of Specific Populations, under the broad grouping of Human Services and related organizations. As of 06/2022, Clasp Homes Inc employed 149 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Clasp Homes Inc 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, Clasp Homes Inc generated $10.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $9.7m during the year ending 06/2022. While expenses have increased by 5.1% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SERVICES AND SUPPORT FOR DEVELOPMENTALLY DISABLED INDIVIDUALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY LIVING ARRANGEMENTS - 11 GROUP HOMES FOR DEVELOPMENTALLY DISABLED ADULTS.
DAY SERVICES - OPTIONS FOR EMPLOYMENT FOR INDIVIDUALS WITH DEVELOPMENTAL DISABILITIES.
IN-HOME SUPPORTS - SUPERVISED APARTMENTS FOR INDIVIDUALS WITH DEVELOPMENTAL DISABILITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tracy Flood President | Officer | 35 | $103,289 |
Octavia Catana Fin. Dir. Pa | Officer | 40 | $89,479 |
Michele Markelon VP Finance P | Officer | 35 | $12,007 |
Marc Hawley Director | Trustee | 1 | $0 |
Patricia Loh Director | Trustee | 1 | $0 |
Darleen Ferraro Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $110,317 |
| Related organizations | $0 |
| Government grants | $8,617,593 |
| All other contributions, gifts, grants, and similar amounts not included above | $457,548 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,185,458 |
| Total Program Service Revenue | $709,878 |
| Investment income | $47,526 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,985,591 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $219,342 |
| Compensation of current officers, directors, key employees. | $15,092 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,593,806 |
| Pension plan accruals and contributions | $35,525 |
| Other employee benefits | $1,598,799 |
| Payroll taxes | $432,329 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $62,453 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $45,587 |
| Advertising and promotion | $0 |
| Office expenses | $46,131 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $444,919 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $27,051 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $281,335 |
| Insurance | $89,906 |
| All other expenses | $206,959 |
| Total functional expenses | $9,739,553 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,534,267 |
| Savings and temporary cash investments | $67,984 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $223,769 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $36,005 |
| Net Land, buildings, and equipment | $3,394,856 |
| Investments—publicly traded securities | $2,551,789 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $21,043 |
| Total assets | $7,829,713 |
| Accounts payable and accrued expenses | $1,417,645 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $617,649 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $280,977 |
| Total liabilities | $2,316,271 |
| Net assets without donor restrictions | $5,456,125 |
| Net assets with donor restrictions | $57,317 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $7,829,713 |