New Milford Economic Development Corporation
- Assets
- $87.5k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- New Milford, CT
- Founding
- 03/2012
- Data as of
- 06/2023
- EIN
- 27-4484172
Organization Overview
New Milford Economic Development Corporation is located in New Milford, CT. The organization was established in 2012. According to its NTEE Classification (S30) the organization is classified as: 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. New Milford Economic 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, New Milford Economic Development Corporation generated $22.4k in total revenue. All expenses for the organization totaled $41.1k during the year ending 06/2023. While expenses have increased by 65.0% per year over the past 4 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
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
THE PRINCIPAL OBJECTIVE OF THE ORGANIZATION IS TO BENEFIT THE COMMUNITY BY INCREASING EMPLOYMENT OPPORTUNITIES AND THE ESTABLISHMENT AND EXPANSION OF BUSINESS AND INDUSTRY FOR THE CITIZENS OF NEW MILFORD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter Bass Director | 0.5 | $0 | |
Denise Delmastro Director | 0.5 | $0 | |
Patricia Hembrook Director | 0.5 | $0 | |
Geoff Ball Director | 0.5 | $0 | |
Paul Murphy Director | 0.5 | $0 | |
Michael Nahom Director | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,000 |
| Total Program Service Revenue | $20,350 |
| Membership dues | $0 |
| Investment income | $19 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $22,369 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $9,568 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $232 |
| Other expenses | $31,293 |
| Total expenses | $41,093 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $65,370 |
| Other assets | $0 |
| Total assets | $87,464 |
| Total liabilities | $0 |
| Net assets or fund balances | $87,464 |