Nonprofit · EIN 06-1380472
COMMUNITY ECONOMIC DEVELOPMENT FUND FOUNDATION INC
Tax-exempt · MERIDEN, CT 06450
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $2,343,607 | $2,200,300 | $143,307 | $22,066,926 | $7,036,855 | $15,030,071 |
| December 31, 2023 | 990 | $2,433,942 | $2,249,503 | $184,439 | $20,904,533 | $6,656,099 | $14,248,434 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $616,301
- of which government grants
- $490,266
- Program service revenue
- $1,260,458
- Investment income
- $400,614
- Net gain from sales of assets
- $128,881
- Other revenue
- $66,234
Expenses
- Grants and similar amounts paid
- $15,000
- Compensation of officers, directors and key employees
- $430,646
- Other salaries and wages
- $811,519
- Salaries, compensation and benefits (total)
- $1,493,808
- Professional fundraising fees
- $0
- Legal fees
- $10,427
- Accounting fees
- $30,266
- Occupancy
- $107,177
- Travel
- $20,934
- Depreciation
- $91,505
- Program services (functional)
- $1,466,719
- Management and general (functional)
- $682,676
- Fundraising (functional)
- $50,905
Balance sheet and other
- Total assets, start of year
- $20,904,533
- Total assets, end of year
- $22,066,926
- Total liabilities, end of year
- $7,036,855
- Net assets, end of year
- $15,030,071
- Land, buildings and equipment
- $2,031,446
- Publicly traded securities
- $9,801,739
- Net assets without donor restrictions
- $11,917,759
- Net assets with donor restrictions
- $3,112,312
- Gross receipts
- $3,498,718
- Employees
- 14
- Volunteers
- 0
- Year formed
- 1993
- State of legal domicile
- CT
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JAMES BZDYRA | PRESIDENT/CEO Officer | 40 | $214,975 | $29,006 |
| KAREN MACIOROWSKI | VP/CFO Officer | 40 | $178,650 | $8,015 |
| RICARDO VIDAL | DIRECTOR OF LENDING Highest-paid employee | 40 | $106,284 | $17,827 |
| KATHLEEN DOMIJAN | DIRECTOR OF ACCOUNTING Highest-paid employee | 40 | $109,855 | $13,746 |
| DAVID CANTOR | BOARD CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| KIM HEALEY | BOARD VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| MARK NOLAN | TREASURER & SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| JOHN FIORELLO | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ANA ALFARO | DIRECTOR Trustee or director | 1 | $0 | $0 |
| PASTOR CARL MCCLUSTER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| COMMISSIONER JORGE PEREZ | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TED MURPHY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| THOMAS MALLOY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| HOLLY WILLIAMS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MICHAEL BRADY | DIRECTOR Trustee or director | 1 | $0 | $0 |
5 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JOHN JEPSON JR | DIRECTOR Trustee or director | 1 | $0 |
| ALLISON STANDISH PLIMPTON | DIRECTOR Trustee or director | 1 | $0 |
| ROSANNE FORD | DIRECTOR Trustee or director | 1 | $0 |
| MARCIA FOUNTAIN | DIRECTOR Trustee or director | 1 | $0 |
| MILLIE TEXIDOR | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 15 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JAMES BZDYRA | PRESIDENT/CEO Officer | 40 | $211,395 | $25,813 |
| KAREN MACIOROWSKI | VP/CFO Officer | 40 | $172,089 | $8,548 |
| DAVID CANTOR | BOARD CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| KIM HEALEY | BOARD VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| MARK NOLAN | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| FRANK MAC HUGH | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| ANA ALFARO | DIRECTOR Trustee or director | 1 | $0 | $0 |
| PASTOR CARL MCCLUSTER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| COMMISSIONER JORGE PEREZ | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TED MURPHY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| THOMAS MALLOY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| HOLLY WILLIAMS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MICHELLE HAWES | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JOHN JEPSON JR | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ALLISON STANDISH PLIMPTON | DIRECTOR Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 965 E MAIN ST, MERIDEN, CT 06450-6006
- In care of
- % BARBARA S MCGRATH
- Principal officer (990 for 2024)
- KAREN MACIOROWSKI, 965 MAIN STREET, MERIDEN, CT 06450
- Signed the 990
- KAREN MACIOROWSKI, VICE PRESIDENT AND CFO
- Phone
- (203) 235-2333
- Website
- WWW.CEDF.COM
- Return prepared by
- WHITTLESEY PC
Mission
TO STRENGTHEN NEIGHBORHOOD ECONOMIES BY PROVIDING FLEXIBLE FINANCING AND TECHNICAL SUPPORT TO BUSINESSES, COMMUNITY ORGANIZATIONS AND INITIATIVES THROUGHOUT CONNECTICUT. WE HELP TO STABILIZE AND GROW SMALL BUSINESSES SO INDIVIDUALS MAY REALIZE THEIR DREAMS, FAMILIES MAY CELEBRATE INCREASED FINANCIAL INDEPENDENCE, AND COMMUNITIES MAY PROSPER. THE COMMUNITY ECONOMIC DEVELOPMENT FUND (CEDF) WAS FOUNDED IN 1993. THERE WAS AN URGENT NEED FOR SMALL BUSINESS LENDING IN CONNECTICUT'S ECONOMICALLY DEPRESSED AND STAGNANT CITIES AT A TIME WHEN TRADITIONAL BANKING INSTITUTIONS WERE SCALING BACK LENDING ACTIVITY. TODAY CEDF CONTINUES TO ACTIVELY LEAD AND SUPPORT SMALL BUSINESS FORMATION AND GROWTH AS A CATALYST FOR MEANINGFUL, DIVERSE AND INCLUSIVE ECONOMIC DEVELOPMENT. OVER THE LAST 31 YEARS, CEDF HAS FULFILLED ITS MISSION OF SMALL BUSINESS LENDING, TECHNICAL ASSISTANCE AND BUSINESS EDUCATION FOR ENTREPRENEURS AND SMALL BUSINESS OWNERS ACROSS CONNECTICUT.
Program accomplishments
- SMALL BUSINESS LENDING PROGRAM: AS A CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION LOAN FUND, CEDF OFFERS EASIER-TO-OBTAIN SMALL BUSINESS LOANS TO STARTUP AND SMALL BUSINESSES THROUGHOUT CONNECTICUT THAT CANNOT OBTAIN FINANCING FROM TRADITIONAL LENDING INSTITUTIONS. OUR BORROWERS MUST ALSO OPERATE A BUSINESS IN AN ECONOMICALLY DISADVANTAGED CENSUS TRACT (AS IDENTIFIED BY THE STATE OF CT AND/OR U.S. TREASURY) OR HAVE A LOW-TO-MODERATE HOUSEHOLD INCOME. BY ALLOWING CLIENTS THE OPPORTUNITY TO START A SMALL BUSINESS ENTERPRISE, EXPAND AN EXISTING BUSINESS, TAKE ADVANTAGE OF ECONOMIES OF SCALE, BUY THEIR OWN BUILDINGS, OR MOVE INTO NEW MARKETS, CEDF PROVIDES INDIVIDUALS THE CHANCE TO REALIZE POSITIVE CHANGE FOR THEMSELVES, THEIR FAMILIES, AND THEIR COMMUNITIES. THE COMMUNITIES IN WHICH THESE ENTREPRENEURS OPERATE THEIR BUSINESSES OFTEN EXPERIENCE A WIDE RANGE OF SOCIAL BENEFITS, INCLUDING AN INCREASE OF ECONOMIC ACTIVITY IN NEIGHBORHOODS, COMMUNITY WELLNESS, BLIGHT REDUCTION, AND JOB CREATION AND RETENTION. IN 2024, CEDF FOUNDATION ORIGINATED 37 MICROLOANS/LINES OF CREDIT/OWNER-OCCUPIED MORTGAGES FOR $1,084,000 AND ANOTHER 32 FOR $2,899,811 FOR AFFILIATE, CEDF FUND I, LLC, COMPRISING THE TOTAL LENDING FOR CEDF ORGANIZATION. OF THE CEDF FUND I, LLC TOTALS, 7 LOANS FOR $1,080,000 WERE ORIGINATED ON BEHALF OF CT DECD SMALL BUSINESS BOOST PROGRAM, OF WHICH 95% WERE REQUIRED TO BE SOLD BACK TO THE CT SMALL BUSINESS BOOST FUND.Expenses $897,046 · revenue $855,255
- BUSINESS ADVISORY PROGRAM: CEDF PROVIDES A BUSINESS ADVISOR (BA) TO EACH OF OUR LOAN RECIPIENTS FOR THE LIFE OF THEIR LOAN(S) AT NO CHARGE TO THEM, JUST PRIOR TO LOAN ORIGINATION. BA'S ARE FULL-TIME CEDF EMPLOYEES AND EACH ADVISOR HAS OWNED AND OPERATED A SUCCESSFUL SMALL BUSINESS BEFORE JOINING CEDF. THIS EQUIPS THEM WITH EXPERT TECHNICAL KNOWLEDGE AND THE WILLINGNESS TO PROVIDE ATTENTIVE, UNDERSTANDING AND EMOTIONAL SUPPORT TO THOSE FACING DIFFICULT CIRCUMSTANCES. BA'S SERVE OUR BORROWERS AS COACHES AND RELATIONSHIP MANAGERS TO HELP FOSTER BUSINESS GROWTH AND REDUCE RISK OF BUSINESS CLOSURE. THEY OFFER GUIDANCE ON BEST PRACTICES IN MANAGEMENT, MARKETING, FINANCE AND OPERATIONS; HELP INVESTIGATE, DIAGNOSE OR RESEARCH BUSINESS CHALLENGES AND OPPORTUNITIES IN ORDER TO IDENTIFY PATHS TO IMPROVED RESULTS; AND COACH ON MATTERS OF LEADERSHIP, ACCOUNTABILITY, ACTION PLANNING, IDEA GENERATION, MOTIVATION, AND MANAGEMENT OF THE EMOTIONAL COMPONENTS OF BUSINESS OWNERSHIP. CEDF'S BUSINESS ADVISORS PROVIDED 5,470 SERVICE HOURS TO 193 CLIENTS WITH 239 LOANS ACROSS CT'S 169 TOWNS/CITIES IN 2024 AND SUPPORTED THE CREATION AND RETENTION OF 1,092 JOBS.Expenses $414,744 · revenue $401,549
- BUSINESS EDUCATION PROGRAM: CEDF EDUCATES ENTREPRENEURS ON THE ESSENTIAL KNOWLEDGE FOR OPERATING SUCCESSFUL, SUSTAINABLE ENTERPRISES. BUSINESS EDUCATIONAL OFFERINGS ARE PROVIDED TO ENTREPRENEURS/SMALL BUSINESS OWNERS ACROSS CONNECTICUT AT LITTLE TO NO COST TO THEM. WE DELIVER EDUCATION THROUGH A VARIETY OF CHANNELS, INCLUDING PODCASTS, WEBINARS, INSTRUCTIONAL ARTICLES, ONLINE EDUCATION AND LIVE SEMINARS AND OFFER ON-DEMAND FORMAT ALL HOUSED ON OUR EDUCATION WEBSITE FOR EASY ACCESS TO EDUCATIONAL RESOURCES NEEDED BY THE SMALL BUSINESS OWNER WWW.WETEACHSUCCESS.ORG. PROGRAM SERVICES IN SPANISH: CEDF EMPLOYS THREE SPANISH SPEAKING INDIVIDUALS AND PROSPECTIVE CLIENTS MORE COMFORTABLE CONDUCTING BUSINESS IN SPANISH CAN ACCESS PRE-LOAN COUNSELING, BUSINESS EDUCATION AND BUSINESS ADVISORY SERVICES IN THEIR OWN LANGUAGE. IN 2024, WE EXPERIENCED 7,535 LEARNING ENGAGEMENTS AND OFFERED 74 EDUCATIONAL PROGRAMS OF WHICH 39 WERE IN SPANISH.Expenses $149,954 · grants $10,000 · revenue $143,290
- Expenses $4,975 · grants $5,000 · revenue $1,964
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 06-1380472
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1994
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S30Z)
- Assets (IRS master file)
- $22,066,926
- Income (IRS master file)
- $3,498,718
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $2,343,607 | $2,200,300 | $22,066,926 | IRS |
| 990 | December 2023 | $2,433,942 | $2,249,503 | $20,904,533 | XML |
| 990 | December 2022 | $2,219,165 | $2,035,384 | $20,499,835 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 06-1380472).
Questions about COMMUNITY ECONOMIC DEVELOPMENT FUND FOUNDATION INC
- What is the EIN of COMMUNITY ECONOMIC DEVELOPMENT FUND FOUNDATION INC?
- The employer identification number (EIN) of COMMUNITY ECONOMIC DEVELOPMENT FUND FOUNDATION INC is 06-1380472.
- Is COMMUNITY ECONOMIC DEVELOPMENT FUND FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1994.
- Are donations to COMMUNITY ECONOMIC DEVELOPMENT FUND FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does COMMUNITY ECONOMIC DEVELOPMENT FUND FOUNDATION INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of COMMUNITY ECONOMIC DEVELOPMENT FUND FOUNDATION INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did COMMUNITY ECONOMIC DEVELOPMENT FUND FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of COMMUNITY ECONOMIC DEVELOPMENT FUND FOUNDATION INC?
- The 990 for the year ended December 31, 2024 names KAREN MACIOROWSKI.
- Who are the officers and directors of COMMUNITY ECONOMIC DEVELOPMENT FUND FOUNDATION INC?
- The 990 for the year ended December 31, 2024 lists 20 people; 4 received compensation from the organization, the highest $214,975 (JAMES BZDYRA, PRESIDENT/CEO).
- How much revenue does COMMUNITY ECONOMIC DEVELOPMENT FUND FOUNDATION INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $2,343,607, expenses of $2,200,300 and total assets of $22,066,926 at year end.
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All nonprofits in MERIDEN · Connecticut · Community improvement and capacity building