Shore Area Community Development Corporation

Organization Overview

Shore Area Community Development Corporation is located in New Haven, CT. The organization was established in 1996. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Shore Area Community 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 12/2021, Shore Area Community Development Corporation generated $2.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.6% each year . All expenses for the organization totaled $4.6m during the year ending 12/2021. While expenses have increased by 16.3% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO DEVELOP AFFORDABLE HOUSING LOCATIONS THROUGHOUT SOUTHERN CONNECTICUT

Describe the Organization's Program Activity:

Part 3 - Line 4a

TO IMPROVE THE LIVES OF INDIVIDUALS AND FAMILIES BY ENSURING AFFORDABLE QUALITY HOUSING, BY IMPROVING THE SOCIAL AND ECONOMIC STABILITY OF NEIGHBORHOODS AND BY EXPANDING LOCALLY BASED COMMUNITY DEVELOPMENT EFFORTS. (APPROX 1,400 PEOPLE)


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Board, Officers & Key Employees

Name (title)Compensation
Lin Christie
Chair
$0
Louis Procaccini
Vice-Chair
$0
Sabine Kuczo
Secretary
$0
Timothy Romano
Treasurer (in Transition)
$0
Michael Leone
Treasurer
$0
Patrick Mcgrath
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $166,360
All other contributions, gifts, grants, and similar amounts not included above$2
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$166,362
Total Program Service Revenue$2,742,217
Investment income $5,727
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 $2,914,306

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