Metrohartford Alliance Inc
- Assets
- $10.3m
- Revenue
- $5.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Hartford, CT
- Founding
- 03/2002
- Data as of
- 12/2023
- EIN
- 06-1614518
Organization Overview
Metrohartford Alliance Inc is located in Hartford, CT. The organization was established in 2002. 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. Metrohartford Alliance Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, Metrohartford Alliance Inc generated $5.9m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 6.9% each year. All expenses for the organization totaled $3.9m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2022, Metrohartford Alliance Inc has awarded 56 individual grants totaling $3,999,999. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO HELP HARTFORD COMPETE AGGRESSIVELY AND SUCCESSFULLY FOR JOBS, TALENT AND CAPITAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BUSINESS CLIMATE AND INFRASTRUCTURE: STRENGTHEN THE BUSINESS CLIMATE AND INFRASTRUCTURE OF THE REGION. PROMOTE PRO-BUSINESS POLICIES; DEVELOP, PRIORITIZE AND ADVOCATE FOR MAJOR CAPITAL PROJECTS; ADVOCATE STRENGTHENED REGIONAL TRANSPORTATION INFRASTRUCTURE; PROMOTE DIALOGUE ON ROLE OF BUSINESS; IDENTIFY OPPORTUNITIES; AND, ENCOURAGE GREATER COLLABORATION AMONG MUNICIPALITIES.
CITY AS THE URBAN CORE:ENSURE THAT THE CAPITAL CITY IS THE DYNAMIC URBAN CORE OF THE REGION. ENHANCE THE CITY'S LIVABILITY; PROMOTE IQUILT; DEVELOP HOUSING ALTERNATIVES; ENCOURAGE BUSINESS FORMATION, GROWTH AND REDUCTION IN COMMERCIAL VACANCIES; ADVOCATE FOR EDUCATION REFORM; AND, STRENGTHEN PUBLIC SERVICES WITH PRIVATE FUNDING.
TALENT RETENTION:BUILD, RETAIN, RECRUIT, AND ENGAGE A DIVERSE AND TALENTED POOL OF EMPLOYEES AND ENTREPRENEURS. DEVELOP A ROBUST TALENT PIPELINE; INCREASE NUMBER OF COLLEGE GRADUATES IN THE REGION; AND, CONTINUE TO GROW AND INCREASE THE VALUE OF HYPE MEMBERSHIP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Guy Board Chair | Trustee | 1 | $0 |
David Robinson Immediate Past Chair | Trustee | 1 | $0 |
Meera Krishnamurthy Chair Of Governance | Trustee | 1 | $0 |
Jonathan Bennett Chair Of Finance | Trustee | 1 | $0 |
Andy Bessette Chair Of Recruitment | Trustee | 1 | $0 |
Ron Angelo Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Digital Surgeons Llc Marketing And Consulting | 12/30/19 | $179,576 |
Rainmaking Innovation Corp Insuretech Accelerator Program | 12/30/19 | $448,114 |
Mceivr Inc Consulting | 12/30/19 | $125,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $2,396,920 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,005,421 |
| All other contributions, gifts, grants, and similar amounts not included above | $137,149 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,539,490 |
| Total Program Service Revenue | $367,005 |
| Investment income | $0 |
| 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 | $5,912,005 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,234,952 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,661 |
| Fees for services: Accounting | $140,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $216,039 |
| Advertising and promotion | $220,329 |
| Office expenses | $248,424 |
| Information technology | $110,711 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $48,179 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $51,245 |
| Insurance | $21,651 |
| All other expenses | $176,163 |
| Total functional expenses | $3,924,423 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $400,317 |
| Savings and temporary cash investments | $425,588 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $92,526 |
| 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 | $85,063 |
| Net Land, buildings, and equipment | $36,969 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,289,614 |
| Total assets | $10,330,077 |
| Accounts payable and accrued expenses | $61,695 |
| Grants payable | $0 |
| Deferred revenue | $789,494 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $851,189 |
| Net assets without donor restrictions | $9,343,305 |
| Net assets with donor restrictions | $135,583 |
| 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 | $10,330,077 |
Grants Awarded
Over the last fiscal year, Metrohartford Alliance Inc has awarded $2,234,952 in support to 30 organizations.
| Grant Recipient | Amount |
|---|---|
40 AIRPORT ROAD HARTFORD LLC PURPOSE: ECONOMIC DEVELOPMENT | $112,500 |
ALLYN STREET COMMERCIAL LLC PURPOSE: ECONOMIC DEVELOPMENT | $50,297 |
JO BARB LLC PURPOSE: ECONOMIC DEVELOPMENT | $112,500 |
FULL CIRCLE REALTY LLC PURPOSE: ECONOMIC DEVELOPMENT | $176,750 |
HISPANIC HEALTH COUNCIL INC PURPOSE: ECONOMIC DEVELOPMENT | $107,500 |
1420 PARK STREET LLC PURPOSE: ECONOMIC DEVELOPMENT | $37,500 |