2024-04-12T14:51:05-05:00 2023-05-31 060903326 WHITTLESEY PC 280 TRUMBULL ST 24TH FL HARTFORD CT 06103 990 2022-06-01 060919160 HEDCO INC HEDC 8605271301 207 MAIN STREET 4TH FLOOR HARTFORD CT 06106 KIM B HAWKINS PRESIDENT & CEO 8605271301 2024-04-11 1 KIM HAWKINS 999009999 0 SHAUN SHERIDAN P01340755 8605223111 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z KIM B HAWKINS 207 MAIN STREET 4TH FLOOR HARTFORD CT 06106 4502536 0 X HEDCOINC.COM X 1975 CT TO ORGANIZE AND PROMOTE FURTHER ECONOMIC GROWTH. 19 18 13 18 0 0 2287226 3080385 862357 1371085 30534 51066 2909 0 3183026 4502536 899214 507995 0 0 1142526 1331299 0 0 27830 1549256 1313651 3590996 3152945 -407970 1349591 31561156 35604811 10938723 15186137 20622433 20418674 TO PROMOTE AND FURTHER THE ECONOMIC DEVELOPMENT OF SMALL BUSINESSES AND ORGANIZATIONS THROUGHOUT THE REGIONS 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. 0 0 2578958 507995 1371085 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. 2578958 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 12 0 1 13 1 0 0 0 0 0 0 0 0 0 0 0 0 X 19 18 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CT X KIM HAWKINS 8605271301 207 MAIN STREET 4TH FLOOR HARTFORD CT 06106 KIM HAWKINS PRESIDENT & CEO 40.00 X X 220524 0 20128 BARBARA RANDOLPH CHAIRPERSON 1.00 X X 0 0 0 ERIC M BAUER VICE CHAIR 1.00 X X 0 0 0 MARIANNE STOWELL TREASURER 1.00 X X 0 0 0 EDWARD J SAMORAJCZYK SECRETARY 1.00 X X 0 0 0 PAUL PERAKOS ASST. SECRETARY 1.00 X X 0 0 0 WAYNE BENJAMIN ASST. TREASURER 1.00 X X 0 0 0 JULIO MENDOZA CHAIR, NOMINATING COMMITTEE 1.00 X X 0 0 0 ANA ALFARO DIRECTOR 1.00 X 0 0 0 DANTE FAZZINA DIRECTOR 1.00 X 0 0 0 MICHAEL CASPARINO DIRECTOR 1.00 X 0 0 0 JEFF HUBBARD DIRECTOR 1.00 X 0 0 0 SHEILA S HUMMEL DIRECTOR 1.00 X 0 0 0 ANDREAS KAPETANOPOULOS DIRECTOR 1.00 X 0 0 0 ALAN LAZOWSKI DIRECTOR 1.00 X 0 0 0 PAULINE YODER DIRECTOR 1.00 X 0 0 0 DAVID CABEZAS DIRECTOR 1.00 X 0 0 0 ROBERT J KREUZER DIRECTOR 1.00 X 0 0 0 PATRICIA GERONIMO CHIEF FINANCIAL OFFICER 40.00 X 128439 0 32081 348963 0 52209 2 0 1 0 0 13098 2780420 286867 3080385 SERVICE FEES 525990 954722 954722 LOAN INTEREST INCOME 525990 416363 416363 1371085 51066 51066 4502536 1371085 0 51066 507995 507995 419270 344850 74420 672254 540790 116706 14758 44774 36329 7840 605 117795 95576 20626 1593 77206 62643 13519 1044 30832 16692 14140 49000 26529 22471 286160 154928 131232 20874 18185 2689 107400 71625 35775 29200 15809 13391 247885 165315 82570 16858 14687 2171 32226 28075 4151 15273 13306 1967 LOAN LOSS PROVISION 448795 448795 MISCELLANEOUS 14768 12865 1903 EVENTS 9830 9830 CHARITABLE CONTRIBUTION 4550 3964 586 3152945 2578958 546157 27830 16637821 15085001 61772 1148657 265573 284214 12758243 16549557 191874 141404 79612 50470 1758135 1770500 0 716412 31561156 35604811 107478 200128 1369000 5985750 9423903 8266762 38342 733497 10938723 15186137 X 13581736 18292712 7040697 2125962 20622433 20418674 31561156 35604811 1349591 -53350 -1500000 0 X X 0 1 X 1 1 1 X 3376186 1699406 6088146 2287226 3080385 16531349 594467 603169 585795 862357 1371085 4016873 3970653 2302575 6673941 3149583 4451470 20548222 0 0 0 20548222 28708 62356 29858 30534 51066 202522 28708 62356 29858 30534 51066 202522 3999361 2364931 6703799 3180117 4502536 20750744 0.99020 0.98980 0.00980 0.01020 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 185007 137262 47745 6867 4142 2725 50470 OPERATING LEASE LIABILITY 733497 733497 4449186 -53350 -53350 4502536 0 4502536 3152945 0 3152945 0 3152945 0 SPANISH AMERICAN MERCHANTS ASSOCIATION 95 PARK ST HARTFORD CT 06103 061390672 501(C)(3) 507995 0 PARTNER DISBURSEMENT RELATED TO DECD MINORITY SMALL BUSINESS PROGRAM 1 1 X 0 0 0 0 0 0 0 0 0 KIM HAWKINS PRESIDENT & CEO 185524 0 35000 0 0 0 11132 0 8996 0 240652 0 0 0 PATRICIA GERONIMO CHIEF FINANCIAL OFFICER 112939 0 15500 0 0 0 7051 0 25030 0 160520 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT AND THE BOARD OF DIRECTORS REVIEW THE FORM 990 FOR COMPLETENESS BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C UPON ELECTION AND TO BE UPDATED ANNUALLY. ALL DIRECTORS OR OFFICERS OF THE CORPORATION MUST DISCLOSE ANY POTENTIAL CONFLICT BETWEEN HIS OR HER OWN INDIVIDUAL INTEREST, THOSE OF AN IMMEDIATE FAMILY MEMBER, OR THOSE OF A RELATED PARTY AND THE INTEREST OF THE CORPORATION, FULL DISCLOSURE OF ALL FACTS PERTAINING TO SUCH POTENTIAL CONFLICT SHALL BE MADE TO THE BOARD OF DIRECTORS. FACT-GATHERING AND SUBSEQUENT REVIEW BY THE BOARD OF DIRECTORS WILL DETERMINE WHETHER OR NOT AN ACTUAL CONFLICT EXISTS OR WOULD OCCUR. FORM 990, PART VI, SECTION B, LINE 15 PERFORMANCE REVIEWS AND SALARY ADJUSTMENT RECOMMENDATIONS ARE PREPARED BY THE VICE PRESIDENT/COO FOR THE STAFF OF THE ORGANIZATION. THESE REVIEWS AND RECOMMENDED COMPENSATION ARE PRESENTED TO THE PRESIDENT/CEO. THE PRESIDENT/CEO PREPARES A REVIEW FOR THE VICE PRESIDENT/COO FOR HER COMPENSATION. THE RECOMMENDATIONS ARE FORWARDED TO THE HEDCO BOARD OF DIRECTORS' CHAIRMAN FOR APPROVAL. THE CHAIRMAN AND THE EXECUTIVE COMMITTEE REVIEW, APPROVE OR AMEND AND FORWARD AUTHORIZATIONS TO IMPLEMENT THE CHANGES INCLUSIVE OF ANY BONUS ADJUSTMENTS. APPRAISAL OF THE PRESIDENT/CEO AND ANY AGREED UPON COMPENSATION ADJUSTMENTS ARE APPROVED BY THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES IT'S GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC BY REQUEST IN THE FORM OF HARD COPIES KEPT AT THE OFFICE. FORM 990, PART XII, LINE 2C THE PROCESS DID NOT CHANGE FROM PRIOR YEAR.