Chrysalis Center Real Estate Corporation
- Assets
- $54.9m
- Revenue
- $7.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Hartford, CT
- Founding
- 08/2004
- Data as of
- 06/2023
- EIN
- 20-0243489
Organization Overview
Chrysalis Center Real Estate Corporation is located in Hartford, CT. The organization was established in 2004. According to its NTEE Classification (S47) the organization is classified as: Real Estate Associations, 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.
For the year ending 06/2023, Chrysalis Center Real Estate Corporation generated $7.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $4.0m during the year ending 06/2023. 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
REAL ESTATE HOLDING CORPORATION FOR THE CHRYSALIS CENTER, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CORPORATE SITE - MAINTAINS OPERATIONAL HEADQUARTERS FOR CHRYSALIS CENTER, INC. AT 255 HOMESTEAD AVENUE IN HARTFORD AND A SATELLITE OFFICE AT 1338 BALDWIN AVENUE IN WATERBURY.CHRYSALIS CENTER, INC. IS A MULTI-SERVICE NON-PROFIT ORGANIZATION SERVING HARTFORD AND GREATER HARTFORD WITH COMMUNITY PROGRAMS AND SERVICES TO A WIDE RANGE OF INDIVIDUALS AND FAMILIES IN NEED OF SUPPORT. THE ORGANIZATION PROVIDES SERVICES IN 5 CORE AREAS: COMMUNITY CASE MANAGEMENT, SUPPORTIVE HOUSING SERVICES, EMPLOYMENT SERVICES, RECOVERY SERVICES AND COMMUNITY CONNECTIONS. CHRYSALIS CENTER SERVES OVER 4,000 INDIVIDUALS EACH YEAR WHO FACE SUCH CHALLENGES AS MENTAL ILLNESS, SUBSTANCE ABUSE, HIVAIDS, HOMELESSNESS, RETURN FROM INCARCERATION AND OTHER CHALLENGES. SERVICES ARE PROVIDED TO ASSIST EACH INDIVIDUAL WITH THE RIGHT SUPPORT TO MAXIMIZE THEIR ABILITY TO RECOVER AND REMAIN PRODUCTIVE AND STABLE IN THEIR COMMUNITY. THE ORGANIZATION IS ACCREDITED BY THE COMMISSION FOR ACCREDITATION OF REHABILITATIVE FACILITIES FOR: COMMUNITY CASE MANAGEMENT, SUPPORTIVE HOUSING SERVICES AND COMMUNITY BASED REHABILITATIVE SERVICES.
CLOVER GARDENS - AFFORDABLE HOUSINGCLOVER GARDENS IS A HISTORICAL REHABILITATION OF FOUR BUILDINGS INTO 32 UNITS OF AFFORDABLE HOUSING. EIGHT UNITS ARE SET ASIDE FOR NINE INDIVIDUALS WITH AN INTELLECTUAL OR DEVELOPMENT DISABILITY OR AUTISM SPECTRUM DISORDER. THE BUILDINGS HOUSE AN OFFICE, A CONFERENCE ROOM, A LAUNDRY FACILITY, RESTORED ENTRANCE AREAS, AND ARE HANDICAP ACCESSIBLE. THE LOT PROVIDES ADEQUATE OFF-STREET PARKING FOR THE DEVELOPMENT. CHRYSALIS CENTER THROUGH ITS REAL ESTATE CORPORATION IS THE DEVELOPER AND OWNER AND HARC, INC. IS THE SERVICE PROVIDER FOR THIS PROJECT.
COURTLAND ARMS - AFFORDABLE/SUPPORTIVE HOUSING - COURTLAND ARMS IS A HISTORICAL REHABILITATION OF A 24-UNIT APARTMENT BUILDING BUILT IN 1924. FOUR UNITS ARE SET ASIDE FOR HOMELESS VETERANS. THE BUILDING HOUSES OFFICES, MEETING ROOMS, A RESTORED LOBBY AND IS FULLY HANDICAPPED ACCESSIBLE. AN ADJACENT LOT PROVIDES ADEQUATE PARKING FOR THE DEVELOPMENT. CHRYSALIS CENTER THROUGH ITS REAL ESTATE CORPORATION IS THE DEVELOPER, OWNER AND SERVICE PROVIDER FOR THIS PROJECT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sharon Castelli Chrysalis CEO | Officer | 1 | $0 |
Wendy D Briere Chrysalis CFO | Officer | 1 | $0 |
Tia Cintron Chair | OfficerTrustee | 1 | $0 |
Thomas P Kennedy Vice Chair | OfficerTrustee | 1 | $0 |
James Christopher Secretary/treasurer | OfficerTrustee | 1 | $0 |
Bridget D'angelo Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Konover Residental Corporation Property Management | 6/29/22 | $412,713 |
Enterprise Builders Inc Construction | 6/29/22 | $172,997 |
Hammer N Nails Construction | 6/29/22 | $102,007 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,595,729 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,595,729 |
| Total Program Service Revenue | $2,530,427 |
| Investment income | $24,691 |
| 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 | $7,693,337 |
| 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 | $8,025 |
| Fees for services: Legal | $56,848 |
| Fees for services: Accounting | $71,675 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $125,311 |
| Advertising and promotion | $1,848 |
| Office expenses | $97,625 |
| Information technology | $2,993 |
| Royalties | $0 |
| Occupancy | $1,492,338 |
| Travel | $8,777 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $980 |
| Interest | $321,300 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,433,903 |
| Insurance | $2,235 |
| All other expenses | $0 |
| Total functional expenses | $4,041,591 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,755,850 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,028,868 |
| 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 | $14,638 |
| Net Land, buildings, and equipment | $48,841,153 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,286,670 |
| Total assets | $54,927,179 |
| Accounts payable and accrued expenses | $2,545,479 |
| 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 | $12,961,340 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,729,784 |
| Total liabilities | $19,236,603 |
| Net assets without donor restrictions | $161,544 |
| Net assets with donor restrictions | $35,529,032 |
| 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 | $54,927,179 |