Greater Dwight Development Corporation
- Assets
- $3.2m
- Revenue
- $597.4k
- Investments
- $0.0
- Employees
- 1
- Location
- New Haven, CT
- Founding
- 06/1996
- Data as of
- 06/2023
- EIN
- 06-1414605
Organization Overview
Greater Dwight Development Corporation is located in New Haven, CT. The organization was established in 1996. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Dwight Development Corporation 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 06/2023, Greater Dwight Development Corporation generated $597.4k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.5% each year . All expenses for the organization totaled $472.7k during the year ending 06/2023. 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
THE GREATER DWIGHT DEVELOPMENT CORPORATION (GDDC) IS ENGAGED IN A VARIETY OF COMMUNITY BUILDING ACTIVITIES IN THE NEW HAVEN, CT AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GREATER DWIGHT DEVELOPMENT CORPORATION (GDDC) HAS ENGAGED IN A VARIETY OF COMMUNITY BUILDING ACTIVITIES:-GDDC BECAME THE OWNER OF DWIGHT PLACE, THE FIRST COMMUNITY OWNED, SUPERMARKET ANCHORED CENTER IN 1998. GDDC HAS SINCE DIRECTED THE MANAGEMENT OF THE CHOPPING CENTER TO PROVIDE ALL OF ITS BUSINESSES WITH THE BEST CHANCE OF SUCCESS. THIS WAS A $15 MILLION PROJECT, FOR WHICH GDDC PARTNERED WITH LISC AND THE RETAIL INITIATIVE.-GDDC SECURED FUNDING IN THE AMOUNT OF THREE MILLION DOLLARS AND COMPLETED THE CONSTRUCTION IN 2006 OF THE 11,000 S.F. ALVIS BROOKER BUILDING LOCATED AT 230 EDGEWOOD AVE. TO HOUSE ITS OFFICES AND THE MONTESSORI SCHOOL ON EDGEWOOD.-THE DWIGHT NEIGHBORHOOD PLAN CALLED FOR THE CREATION OF A QUALITY FULL DAY, YEAR ROUND EARLY LEARNING CENTER TO SUPPORT WORKING FAMILIES. THIS LED TO THE CREATION OF THE MONTESSORI SCHOOL ON EDGEWOOD WHICH HAS BEEN FULLY OPERATIONAL SINCE 2006. THE SCHOOL HAS CREATED 18 JOBS, AND OPERATES ON AN ANNUAL BUDGET OF $700,000 THROUGH CITY AND STATE FUNDING. THE SCHOOL ALSO SERVES 54 CHILDREN, MANY OF WHOM RESIDE IN THE DWIGHT NEIGHORHOOD AND BELONG TO LOW AND MIDDLE INCOME FAMILIES.-GDDC COLLABORATED WITH THE BOARD OF EDUCATION TO CONTRIBUTE THE 20% LOCAL SHARE FOR THE CONSTRUCTION OF A 10,000 S.F. ADDITION TO THE TIMOTHY DWIGHT ELEMENTARY SCHOOL IN EXCHANGE FOR EXTENSIVE COMMUNITY ACCESS TO THE FACILITY DURING NON-SCHOOL HOURS.-THE GDDC HOMEOWNERS ASSISTANCE PROGRAM HAS COMPLETED MORE THAN ONE HUNDRED TWENTY 50/50 REPAIRS PROJECTS, EIGHT LOAN TO GRANT REPAIR PROJECTS, AND 32 REPAIR PROJECTS FOR EMPOWERMENT ZONE RESIDENTS.-GDDC IS CURRENTLY WORKING ON AN EXPANSION PLAN FOR THE SCHOOL WHICH WILL CREATE AN ADDITIONAL 16 INFANT TODDLER SLOTS, 8 JOBS, AND FIVE HOME CHILD CARE CENTERES THAT WILL ADD AN ADDITIONAL 12 JOBS TO THE NEIGHBORHOOD OVER THE NEXT FIVE YEARS. THE MAIN EXPANSION OF THE PROGRAM WILL BE TO 1377 ELLA T. GRASSO BLVD., WHERE GDDC WILL RENOVATE THE 7,886 S.F. BUILDING INTO A 2,473 S.F. CHILD CARE CENTER. THE LOCATION WILL ALSO INCLUDE AFFORDABLE HOUSING FOR THE TEACHERS IN THE UPPER FLOOR APARTMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Tinney Treasurer | OfficerTrustee | 2 | $0 |
Anne Demchek President | OfficerTrustee | 2 | $0 |
Sheila Shanklin Secretary | OfficerTrustee | 2 | $0 |
Tabitha Sookdeo Vice President | OfficerTrustee | 2 | $0 |
Mike Shanklin Director | Trustee | 2 | $0 |
Floirtia Gillespie Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $233,817 |
| Government grants | $310,759 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,250 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $546,826 |
| Total Program Service Revenue | $46,443 |
| Investment income | $4,144 |
| 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 | $597,413 |
| 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. | $150,913 |
| Compensation of current officers, directors, key employees. | $60,365 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $33,800 |
| Pension plan accruals and contributions | $5,000 |
| Other employee benefits | $0 |
| Payroll taxes | $10,626 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,894 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,308 |
| Fees for services: Other | $6,881 |
| Advertising and promotion | $0 |
| Office expenses | $11,652 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $20,804 |
| 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 | $71,219 |
| Insurance | $17,442 |
| All other expenses | $2,602 |
| Total functional expenses | $472,715 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $100,473 |
| Savings and temporary cash investments | $390,284 |
| Pledges and grants receivable | $49,944 |
| Accounts receivable, net | $0 |
| 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 | $2,144 |
| Net Land, buildings, and equipment | $1,582,972 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $153,667 |
| Intangible assets | $0 |
| Other assets | $898,032 |
| Total assets | $3,177,516 |
| Accounts payable and accrued expenses | $62,413 |
| Grants payable | $0 |
| Deferred revenue | $297,396 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $7,943 |
| 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 | $367,752 |
| Net assets without donor restrictions | $2,809,764 |
| Net assets with donor restrictions | $0 |
| 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 | $3,177,516 |