2026-02-18T15:26:21-06:00 2025-05-31 060903326 WHITTLESEY PC 280 TRUMBULL ST 24TH FL HARTFORD CT 06103 990 2024-06-01 060919160 HEDCO INC HEDC 8605271301 207 MAIN STREET 4TH FLOOR HARTFORD CT 06106 KIM B HAWKINS PRESIDENT & CEO 8605271301 2026-02-11 1 1 SHAUN SHERIDAN P01340755 8605223111 2024 2025-03-06 01:10:19Z KIM B HAWKINS 207 MAIN STREET 4TH FLOOR HARTFORD CT 06106 4109075 0 X HEDCOINC.COM X 1975 CT PROVIDING RESOURCES, EMPOWERING ENTREPRENEURS, BUILDING COMMUNITIES. 20 19 14 19 0 0 3688042 2787765 961712 725081 239485 559006 0 -56127 4889239 4015725 2549824 817006 0 0 1123276 1445854 0 0 28416 2022640 2563438 5695740 4826298 -806501 -810573 34515828 35798063 14925470 16873589 19590358 18924474 PROVIDING RESOURCES, EMPOWERING ENTREPRENEURS, BUILDING COMMUNITIES. 0 0 3953091 817006 725081 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. 3953091 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 14 0 1 14 1 0 0 0 0 0 0 0 0 0 0 0 0 X 20 19 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 JEFF HUBBARD DIRECTOR 1.00 X 0 0 0 YVONNE ZHAO DIRECTOR 1.00 X 0 0 0 ROBERT J KREUZER DIRECTOR 1.00 X 0 0 0 PAULINE YODER DIRECTOR 1.00 X 0 0 0 ALAN LAZOWSKI DIRECTOR 1.00 X 0 0 0 ANDREAS KAPETANOPOULOS DIRECTOR 1.00 X 0 0 0 ANA ALFARO DIRECTOR 1.00 X 0 0 0 MICHAEL CASPARINO DIRECTOR 1.00 X 0 0 0 SHEILA S HUMMEL DIRECTOR 1.00 X 0 0 0 KIM HAWKINS PRESIDENT & CEO 40.00 X X 225069 0 32450 JULIO MENDOZA CHAIR, NOMINATING COMMITTE 1.00 X X 0 0 0 WAYNE BENJAMIN ASST. TREASURER 1.00 X X 0 0 0 PAUL PERAKOS ASST. SECRETARY 1.00 X X 0 0 0 EDWARD J SAMORAJCZYK SECRETARY 1.00 X X 0 0 0 MARIANNE STOWELL TREASURER 1.00 X X 0 0 0 ERIC M BAUER VICE CHAIR 1.00 X X 0 0 0 BARBARA RANDOLPH CHAIRPERSON 1.00 X X 0 0 0 PATRICIA GERONIMO CHIEF FINANCIAL OFFICER 40.00 X 158555 0 29431 383624 0 61881 2 0 1 0 SPANISH AMERICAN MERCHANTS ASSOCIATION ( 95 PARK STREET HARTFORD CT 06103 OUTREACH AND TECHNICAL ASSISTANCE TO SMA 460467 1 85000 2191841 510924 2787765 LOAN INTEREST INCOME 525990 511561 511561 SERVICE FEES 525990 213520 213520 725081 559006 559006 37223 85000 93350 -56127 -56127 4015725 725081 0 502879 X 817006 817006 443203 330419 112784 745632 530921 186295 28416 43194 32202 10992 124310 92676 31634 89515 66736 22779 51414 32391 19023 62610 39444 23166 838802 668413 170389 35940 14735 21205 57245 34919 22326 155157 94646 60511 264587 161641 102946 54664 22412 32252 23760 9742 14018 18351 7524 10827 PROVISION FOR CREDIT LO 966425 966425 MISCELLANEOUS 34483 30839 3644 4826298 3953091 844791 28416 14030529 15472156 509366 377152 258651 57730 13586921 12124478 191874 191874 23760 0 5572689 7424225 533912 342322 34515828 35798063 261696 27624 4284510 8030568 1714547 292204 7954388 8162421 710329 360772 14925470 16873589 X 18900159 18367212 690199 557262 19590358 18924474 34515828 35798063 -810573 144689 0 X X 0 1 X 1 1 1 X 6088146 2287226 3080385 3688042 2702765 17846564 585795 862357 1371085 961712 725081 4506030 6673941 3149583 4451470 4649754 3427846 22352594 0 0 0 22352594 29858 30534 51066 239485 559006 909949 29858 30534 51066 239485 559006 909949 6703799 3180117 4502536 4889239 3986852 23262543 0.96090 0.98090 0.03910 0.01910 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 185007 185007 0 6867 6867 0 0 OPERATING LEASE LIABILITY 355629 ALLOWANCE FOR CREDIT LOSSES - UNFUNDED COMMITMENTS 5143 360772 4253764 144689 93350 238039 4015725 0 4015725 4919648 93350 93350 4826298 0 4826298 PART IV, LINE 2B: HEDCO ENTERED INTO AN AGREEMENT WITH THE STATE OF CONNECTICUT DEPARTMENT OF ENERGY AND ENVIRONMENTAL PROTECTION ("DEEP") WHEREBY HEDCO SERVES AS A FISCAL AGENT ON BEHALF OF THE OTHER PARTY. SINCE HEDCO IS ACTING AS AN INTERMEDIARY, NO INCOME OR EXPENSE RELATED TO THESE TRANSACTIONS IS RECORDED TO THE STATEMENT OF ACTIVITIES. FOR THE YEAR ENDED MAY 31, 2025, HEDCO SERVED AS INTERMEDIARY FOR GRANTS OF $1,422,343. AMOUNTS RECEIVED IN ADVANCE FOR AGENCY TRANSACTIONS ARE RECORDED AS A LIABILITY AND CASH HELD IS REPORTED AS RESTRICTED CASH ON THE STATEMENTS OF FINANCIAL POSITION. IN EXCHANGE FOR SERVICES PROVIDED UNDER THIS CONTRACT, HEDCO RECEIVED $18,861 IN SERVICE FEE REVENUE FOR THE YEAR ENDED MAY 31, 2025. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNRAISING EXPENSES 93,350. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNRAISING EXPENSES 93,350. 50TH YEAR EVENT 122223 85000 37223 24876 798 47517 20159 122223 85000 37223 24876 798 47517 20159 93350 -56127 1 CONNECTICUT SMALL BUSINESS GRANT PROGRAM FUNDED BY THE DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT 56 817006 PART I, LINE 2: HEDCO PERFORMS A MONTHLY AND QUARTERLY REVIEW OF PROGRAM EXPENSES ENSURING FUNDS ARE UTILIZED IN ACCORDANCE WITH THE APPROVED BUDGET AND THAT EXPENDITURES ALIGN WITH THE GRANT'S INTENDED PURPOSE. X 0 0 0 0 0 0 0 0 0 KIM HAWKINS PRESIDENT & CEO 175069 0 50000 0 0 0 11698 0 20752 0 257519 0 0 0 PATRICIA GERONIMO CHIEF FINANCIAL OFFICER 133555 0 25000 0 0 0 9540 0 19891 0 187986 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT REVIEWS THE INITIAL DRAFT OF THE FORM 990, AND THEN THE FINAL DRAFT IS PRESENTED TO THE FULL BOARD OF DIRECTORS FOR THEIR REVIEW AND INPUT PRIOR TO FILING. 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 DEPARTMENT HEADS PREPARE PERFORMANCE REVIEWS AND SALARY ADJUSTMENT RECOMMENDATIONS FOR THEIR STAFF AND SUBMIT THEM TO THE PRESIDENT/CEO. THE PRESIDENT/CEO REVIEWS THESE RECOMMENDATIONS AND CONDUCTS PERFORMANCE REVIEWS FOR THE DEPARTMENT HEADS, INCLUDING THEIR COMPENSATION. ALL RECOMMENDATIONS ARE THEN FORWARDED TO THE CHAIRMAN OF THE HEDCO BOARD OF DIRECTORS FOR APPROVAL. THE CHAIRMAN AND THE EXECUTIVE COMMITTEE REVIEW, APPROVE, OR MODIFY THE RECOMMENDATIONS AND AUTHORIZE THE IMPLEMENTATION OF ANY APPROVED CHANGES, INCLUDING BONUS ADJUSTMENTS. THE PERFORMANCE EVALUATION OF THE PRESIDENT/CEO AND ANY RELATED COMPENSATION ADJUSTMENTS ARE REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE AND THEN PRESENTED TO THE FULL BOARD OF DIRECTORS. 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 IX, LINE 11G GRANT UNDERWRITER: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 25,350. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 25,350. CONSULTING: PROGRAM SERVICE EXPENSES 668,413. MANAGEMENT AND GENERAL EXPENSES 145,039. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 813,452. FORM 990, PART XII, LINE 2C THE PROCESS DID NOT CHANGE FROM PRIOR YEAR.