Metrohartford Alliance Inc
- Assets
- $6.2m
- Revenue
- $3.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Hartford, CT
- Founding
- 03/2002
- Data as of
- 12/2021
- 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 12/2021, Metrohartford Alliance Inc generated $3.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $2.1m during the year ending 12/2021. 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
2021
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.
PROMOTE THE STABILITY AND GROWTH OF TARGETED INDUSTRY SECTORS AND A BUSINESS CLIMATE THAT IS FRIENDLY TO ENTREPRENEURS. RETAIN, EXPAND AND ATTRACT NEW BUSINESSES TO THE REGION.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Griggs President & CEO | Officer | 40 | $0 |
Julie Daly Meehan Chief Operating Officer | Officer | 40 | $0 |
David Robinson Board Chair | Trustee | 1 | $0 |
Andy Bessette Immediate Past Chair | Trustee | 1 | $0 |
Shannon Lapierre Chair Of Governance | Trustee | 1 | $0 |
John Guy Chair Of Finance | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rainmaking Innovation Corp Insuretech Accelerator Program | 12/30/19 | $448,114 |
Digital Surgeons Llc Marketing And Consulting | 12/30/19 | $179,576 |
Mceivr Inc Consulting | 12/30/19 | $125,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $2,562,052 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $837,461 |
| All other contributions, gifts, grants, and similar amounts not included above | $36,510 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,436,023 |
| Total Program Service Revenue | $233,788 |
| Investment income | $916 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $8,278 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,681,272 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,473 |
| Fees for services: Accounting | $143,313 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $684,084 |
| Advertising and promotion | $246,981 |
| Office expenses | $262,507 |
| Information technology | $129,238 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $13,938 |
| 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 | $78,394 |
| Insurance | $19,101 |
| All other expenses | $96,358 |
| Total functional expenses | $2,095,881 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $350,253 |
| Savings and temporary cash investments | $691,472 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $439,957 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $9,984 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $53,781 |
| Net Land, buildings, and equipment | $171,179 |
| Investments—publicly traded securities | $115,133 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,363,903 |
| Total assets | $6,195,662 |
| Accounts payable and accrued expenses | $351,116 |
| Grants payable | $0 |
| Deferred revenue | $652,765 |
| 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 | $115,133 |
| Total liabilities | $1,119,014 |
| Net assets without donor restrictions | $4,742,164 |
| Net assets with donor restrictions | $334,484 |
| 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 | $6,195,662 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Metrohartford Alliance Inc has recieved totaling $50,000.
| Awarding Organization | Amount |
|---|---|
Hartford Foundation For Public Giving Hartford, CT PURPOSE: CAPACITY BUILDING | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Provport Inc Providence, RI | $45,314,013 | $11,716,204 |
Homestart Inc Boston, MA | $5,713,584 | $14,864,192 |
The Community Action Agency Of Western Connecticut Inc Danbury, CT | $3,614,776 | $12,103,732 |
Massachusetts Manufacturing Extension Partnership Inc Auburn, MA | $5,456,400 | $10,807,956 |
Greater Jamaica Development Corp Jamaica, NY | $43,416,674 | $8,397,998 |
South Bronx Overall Economic Development Corporation Bronx, NY | $11,273,834 | $9,485,057 |
Dorchester Bay Economic Development Corporation Dorchester, MA | $50,118,730 | $16,286,134 |
National Basketball Association Foundation New York, NY | $26,984,536 | $31,000,000 |
Rdc Commercial Center Inc Brooklyn, NY | $15,313,985 | $4,091,889 |
Grow America Fund Inc Brooklyn, NY | $143,748,091 | $12,181,976 |
Upper Manhattan Empowerment Zone Development Corporation New York, NY | $90,632,786 | $3,433,188 |
Hester Street Collaborative Inc New York, NY | $3,142,438 | $5,168,829 |