EIN 06-0919160

Hartford Economic Development Corporation (HEDCO)

Name: Hartford Economic Development Corporation (HEDCO) financials for 2024
Creator: Cause IQ
License: https://creativecommons.org/licenses/by-nc-nd/4.0/

IRS 501(c) type

501(c)(3)

Num. employees

City

Hartford

State

Connecticut

Year formed

1975

Most recent tax filings

2024-05-01

NTEE code, primary

S30: Economic Development

Description

To promote and further the economic development of small businesses and organizations throughout the regiions of the state of Connecticut and to engage and assist in the establishment, growth, and development of small businesses within the city of hartford, Connecticut. To organize and promote further economic growth in the hartford metropolitan area.

Total revenues

$4,889,239

2024

Total expenses

$5,695,740

2024

Total assets

$34,515,828

2024

Num. employees

2024

Program areas at HEDCO

Loan programs provide small business clientele with access to capital needs that would be otherwise un-met or under-served. These loan programs also provide hope and opportunity for people to realize their dream business, create financial freedom and contribute to their communities through job creations and needed services. In addition to small businesses, non-profits are also being assisted through these programs.

Grants made by HEDCO

Grantee	Grant description	Grant year	Amount
Spanish American Merchants Association	Partner Disbursement Related To Decd Minority Small Business Program	2024-05	$929,467

Who funds Hartford Economic Development Corporation (HEDCO)

Grants from foundations and other nonprofits

Grantmaker	Grantmaker tax period	Description	Amount
Hartford Foundation for Public Giving (HFPG)	2023-12	General Operating Support	$300,250
Travelers Foundation	2023-12	Operating Support To Allow Hedco To Sustain Its Business Resource Center Specifically To Hire A Dir	$70,000
NewAlliance Foundation	2023-12	To Support Northeastern Connecticut Small Businesses & Entrepreneurs. This Program Will Enable Hedco To Foster Economic Growth and Provide Small Business Support and Resources To Minority and Women-Owned Business Enterprises and Other Underserved Small Businesses in Towns Within Northeastern Connecticut.	$3,500

Personnel at HEDCO

Name	Title	Compensation	Date of data
Kim B Hawkins	President and Chief Executive Officer	$242,493	2025-01-27
Patricia Geronimo	Chief Financial Officer	$135,362	2024-11-20
Tony Rodriguez	It Director		2024-11-20
Danielle Sporbert	Administrative Manager		2024-11-20

Financials for HEDCO

Revenues	FYE 05/2024	FYE 05/2023	% Change
Total grants, contributions, etc.	$3,688,042	$3,080,385	19.7%
Program services	$961,712	$1,371,085	-29.9%
Investment income and dividends	$239,485	$51,066	369%
Tax-exempt bond proceeds	$0	$0	-
Royalty revenue	$0	$0	-
Net rental income	$0	$0	-
Net gain from sale of non-inventory assets	$0	$0	-
Net income from fundraising events	$0	$0	-
Net income from gaming activities	$0	$0	-
Net income from sales of inventory	$0	$0	-
Miscellaneous revenues	$0	$0	-
Total revenues	$4,889,239	$4,502,536	8.6%

Form 990s for HEDCO

Fiscal year ending	Date received by IRS	Form	PDF link
2024-05	2025-01-27	990	View PDF
2023-05	2024-04-12	990	View PDF
2022-05	2023-01-13	990	View PDF
2021-05	2021-09-10	990	View PDF
2020-05	2021-04-05	990	View PDF
...and 10 more Form 990s

Organizations like HEDCO

Organization	Type	Location	Revenue
Tulsa Economic Development Corporation	501(c)(3)	Tulsa, OK	$5,003,005
Greenpoint Manufacturing and Design Center (GMDC)	501(c)(3)	Brooklyn, NY	$6,472,967
Lawrence Economic Development Corporation (LEDC)	501(c)(3)	South Point, OH	$5,284,486
Omaha Economic Development Corporation (OEDC)	501(c)(3)	Omaha, NE	$4,706,173
Battle Creek Unlimited (BCU)	501(c)(3)	Battle Creek, MI	$19,224,833
Thurston Economic Development Council Center for Business and Innovation	501(c)(3)	Lacey, WA	$4,139,814
Houston Business Development	501(c)(3)	Houston, TX	$6,050,246
New Bedford Economic Development Council	501(c)(3)	New Bedford, MA	$3,383,460
SouthernCarolina Alliance (SCA)	501(c)(3)	Barnwell, SC	$7,461,884
Main Street Ventures (the Brandery)	501(c)(3)	Cincinnati, OH	$2,249,420

Data update history

August 26, 2024

Received grants

Identified 1 new grant, including a grant for $3,500 from NewAlliance Foundation

July 13, 2024

Received grants

Identified 1 new grant, including a grant for $70,000 from Travelers Foundation

May 22, 2024

Posted financials

Added Form 990 for fiscal year 2023

May 20, 2024

Updated personnel

Identified 1 new personnel

October 23, 2023

Received grants

Identified 2 new grant, including a grant for $70,000 from Travelers Foundation

Nonprofit Types

Public sector nonprofitsBusiness and community development organizationsCharities

Issues

Community improvementEconomic developmentBusiness and industry

Characteristics

State / local levelReceives government fundingManagement and technical assistanceTax deductible donationsAccepts online donations

General information

Address: 207 Main St 4th Floor; Hartford, CT 06106
Metro area: Hartford-East Hartford-Middletown, CT
County: Capitol Planning Region, CT
Website URL: hedcoinc.com/
Phone: (860) 527-1301

IRS details

EIN: 06-0919160
Fiscal year end: May
Taxreturn type: Form 990
Year formed: 1975
Eligible to receive tax-deductible contributions (Pub 78): Yes

Categorization

NTEE code, primary: S30: Economic Development
NAICS code, primary: 926110: Economic Development Corporations and Economic Program Organizations
Parent/child status: Independent

Blog articles

Free account sign-up

Want updates when HEDCO has new information, or want to find more organizations like Hartford Economic Development Corporation (HEDCO)?

Create free Cause IQ account

Hartford Economic Development Corporation (HEDCO)

Program areas at HEDCO

Grants made by HEDCO

Who funds Hartford Economic Development Corporation (HEDCO)

Personnel at HEDCO

Financials for HEDCO

Form 990s for HEDCO

Organizations like HEDCO

Nonprofits

Product

Customers

About