Stonington Village Improvement Association Incorporated
- Assets
- $1.0m
- Revenue
- $353.4k
- Investments
- $0.0
- Employees
- 2
- Location
- Stonington, CT
- Founding
- 08/1953
- Data as of
- 03/2023
- EIN
- 06-1259940
Organization Overview
Stonington Village Improvement Association Incorporated is located in Stonington, CT. The organization was established in 1953. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 03/2023, Stonington Village Improvement Association Incorporated employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Stonington Village Improvement Association Incorporated 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 03/2023, Stonington Village Improvement Association Incorporated generated $353.4k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.0% each year. All expenses for the organization totaled $272.6k during the year ending 03/2023. While expenses have increased by 5.7% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE JAMES MERRILL HOUSE RESIDENCY PROGRAM REMAINED STABLE. IT COMPRISES FOUR SHORT RESIDENCIES OF TWO TO FOUR WEEKS EACH IN THE FALL, THE 4 1/2 MONTH SPRING RESIDENCY, THE 2-4 WEEK YALE YOUNGER POET PRIZEWINNER RESIDENCY IN JUNE, AND THE INVITED MERRILL FELLOW IN JULY OR AUGUST. EIGHT READINGS OR LECTURES WERE OFFERED TO THE PUBLIC. RENTAL SPACES ARE FULLY OCCUPIED. ROUTINE MAINTENANCE WORK WAS CARRIED OUT THIS YEAR, AS WELL AS CONTINUING PRESERVATION OF THE JAMES MERRILL APARTMENT CONTENTS.
BEACH AND PARKSTHE SVIA OWNS THREE BEACH AND PARK PROPERTIES; DUBOIS BEACH, MATHEWS PARK AND THE EAST LAWN. DUBOIS BEACH IS ENJOYED BY THOUSANDS, BOTH RESIDENTS AND NON-RESIDENTS.THE COMO RENTS THE BEACH FROM US AT A MODEST FEE, RUNS THE BEACH AND PROVIDES SWIMMING LESSONS TO CHILDREN. MATHEWS PARK, NEAR DODSONS BOATYARD, IS A BEAUTIFULGREEN SPACE IN THE BORO AND IS MAINTAINED NICELY. WE ALSO MAINTAIN THE EAST LAWN THAT IS ACROSS FROM DUBOIS BEACH, AND BUILT AND INSTALLED FOUR LITTLE FREE LIBRARIES AROUND THE VILLAGE. 18 TREK PARK BENCHES WERE PLACED IN PUBLIC OPEN SPACES AND SVIA PROPERTIES.
STONINGTON FARMERS MARKETTHE STONINGTON FARMERS MARKET IS A YEAR ROUND MARKET AND CONSISTS OF TWENTY TO TWENTY-FIVE VENDORS WHO ASSEMBLE EACH SATURDAY FROM 9AM-12PM, MAY THROUGH OCTOBER. LOCALLY GROWN VEGETABLES, FRUITS, JAMS, A VARIETY OF BREADS, PIES AND BAKED GOODS, MEATS, FISH, SHRIMP, DAIRY PRODUCTS, ITALIAN ICE, MAPLE SYRUP, HONEY, FLOWERS, DECORATIVE PLANTS ARE SOLD, DEPENDING ON THE SEASON. CRAFT VENDORS SELL A VARIETY OF HAND MADE ITEMS. THE SVIA OVERSEES THE MARKET AND SETS UP A TENT EACH WEEK. FRESH COFFEE IS PROVIDED FOR A SUGGESTED DONATION. ATTENDANCE CAN BE UP TO 600 PEOPLE ON A GIVEN SATURDAY. THE WINTER MARKET HOURS ARE 10AM TO 1PM. IN THE WINTER, THE MARKET IS LOCATED IN THE VELVET MILL. THE SAME VENDORS PARTICIPATE IN THE WINTER MARKET, ALTHOUGH SOME DON'T ATTEND IF THEY DON'T HAVE PRODUCT OVER THE WINTER. THE VENDORS PAY A FEE TO PARTICIPATE IN THE MARKET, WHICH IS USED TO PAY THE OPERATING AND MARKETING EXPENSES OF RUNNING THE MARKET. THE SVIA PROVIDES ENTERTAINMENT FOR CHILDREN DURING THE WINTER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jamie Lewis Treasurer | OfficerTrustee | 2 | $0 |
Shaun Mastroianni President | OfficerTrustee | 3 | $0 |
Jonathan Shockley Director | Trustee | 1 | $0 |
Tom Frohnapfel Director | Trustee | 1 | $0 |
Jennifer O'brien Secretary | OfficerTrustee | 1 | $0 |
Karen Appleman Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $8,300 |
| All other contributions, gifts, grants, and similar amounts not included above | $85,862 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $94,162 |
| Total Program Service Revenue | $203,282 |
| Investment income | $4,586 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $51,357 |
| 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 | $353,387 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $19,954 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,751 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,282 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $195 |
| Office expenses | $0 |
| Information technology | $2,126 |
| Royalties | $0 |
| Occupancy | $41,720 |
| Travel | $0 |
| 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 | $40,404 |
| Insurance | $18,233 |
| All other expenses | $6,041 |
| Total functional expenses | $272,603 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $347,313 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,275 |
| 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 | $4,609 |
| Net Land, buildings, and equipment | $483,613 |
| Investments—publicly traded securities | $169,995 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,009,805 |
| Accounts payable and accrued expenses | $4,653 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,600 |
| Total liabilities | $10,253 |
| Net assets without donor restrictions | $957,138 |
| Net assets with donor restrictions | $42,414 |
| 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 | $1,009,805 |