FIRST CITY FUND CORPORATION: Form 990, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- FIRST CITY FUND CORPORATION (EIN 20-1198307)
- Tax period
- 2024-01-01 to 2024-12-31
- Filed
- 2025-07-28
- IRS object ID
- 202502099349300235
- Schema version
- 2024v5.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2025-07-28T12:49:48-05:00 | ReturnTs |
| Tax Period End | 2024-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 060903326 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | WHITTLESEY PC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 280 TRUMBULL ST 24TH FL | AddressLine1Txt |
| City | HARTFORD | CityNm |
| State Abbreviation | CT | StateAbbreviationCd |
| ZIP | 06103 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2024-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 201198307 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FIRST CITY FUND CORPORATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | FIRS | BusinessNameControlTxt |
| Phone | 2037721426 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 299 WHALLEY AVENUE | AddressLine1Txt |
| City | NEW HAVEN | CityNm |
| State Abbreviation | CT | StateAbbreviationCd |
| ZIP | 065113141 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | MICHAEL KINNE | PersonNm |
| Person Title | CFO | PersonTitleTxt |
| Phone | 2037721426 | PhoneNum |
| Signature | 2025-07-28 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | LAWRENCE CARBONI | PreparerPersonNm |
| PTIN | P02535289 | PTIN |
| Phone | 8605223111 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2024 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | MICHAEL KINNE | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 299 WHALLEY AVENUE | AddressLine1Txt |
| City | NEW HAVEN | CityNm |
| State Abbreviation | CT | StateAbbreviationCd |
| ZIP | 06510 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $0 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | N/A | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2004 | FormationYr |
| Legal Domicile State | CT | LegalDomicileStateCd |
| Activity Or Mission | ENGAGE IN ACTIVITIES THAT PROMOTE COMMUNITY DEVELOPMENT WITHIN THE GREATER NEW HAVEN AREA, INCLUDING, BUT NOT LIMITED TO, AFFORDABLE HOUSING, EDUCATION, COMMUNITY SERVICES, SMALL BUSINESS DEVELOPMENT, ECONOMIC DEVELOPMENT, ACTIVITIES THAT REVITALIZE OR STABILIZE LOW AND MODERATE INCOME GEOGRAPHIES AND OTHER FORMS OR CHARITABLE ASSISTANCE TO THOSE IN NEED THEREOF; AND ENGAGE IN ACTIVITIES THAT PROMOTE COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS WITHIN THE GREATER NEW HAVEN AREA THAT SERVE LOW AND MODERATE INCOME GEOGRAPHIES, INCLUDING, BUT NOT LIMITED TO PLANNING, MARKETING, STUDYING, RESEARCHING OR INVESTING THEREIN. PURCHASE, ACCEPT, EXCHANGE, INHERIT, LEASE OR OTHERWISE ACQUIRE REAL AND PERSONAL PROPERTY, OR ANY INTEREST THEREIN, OR WHATEVER KIND, AND TO OWN, HOLD, CONTROL, MAINTAIN, MANAGE, CONVEY, DISPOSE OF, OR CHANGE THE CHARACTER OF SUCH PROPERTY, AND ENGAGE IN ANY LAWFUL ACT OR ACTIVITY FOR WHICH A CORPORATION MAY BE ORGANIZED UNDER THE REVISED NON-STOCK CORPORATION ACT OF THE | ActivityOrMissionDesc |
| Voting Members Governing Body | 8 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 8 | VotingMembersIndependentCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $0 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $0 | CYProgramServiceRevenueAmt |
| PY Investment Income | $0 | PYInvestmentIncomeAmt |
| CY Investment Income | $0 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $0 | PYTotalRevenueAmt |
| CY Total Revenue | $0 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $0 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $0 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $99,592 | PYOtherExpensesAmt |
| CY Other Expenses | $31,261 | CYOtherExpensesAmt |
| PY Total Expenses | $99,592 | PYTotalExpensesAmt |
| CY Total Expenses | $31,261 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$99,592 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$31,261 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $19,767,998 | TotalAssetsBOYAmt |
| Total Assets EOY | $15,688,853 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $22,916 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $0 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $19,745,082 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $15,688,853 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | ENGAGE IN ACTIVITIES THAT PROMOTE COMMUNITY DEVELOPMENT WITHIN THE GREATER NEW HAVEN AREA, INCLUDING, BUT NOT LIMITED TO, AFFORDABLE HOUSING, EDUCATION, COMMUNITY SERVICES, SMALL BUSINESS DEVELOPMENT, ECONOMIC DEVELOPMENT, ACTIVITIES THAT REVITALIZE OR STABILIZE LOW AND MODERATE INCOME GEOGRAPHIES, AND OTHER FORMS OR CHARITABLE ASSISTANCE TO THOSE IN NEED THEREOF, AND ENGAGE IN ACTIVITIES THAT PROMOTE COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS WITHIN THE GREATER NEW HAVEN AREA THAT SERVE LOW AND MODERATE INCOME GEOGRAPHIES, INCLUDING, BUT NOT LIMITED TO PLANNING, MARKETING, STUDYING, RESEARCHING, OR INVESTING THEREIN. PURCHASE, ACCEPT, EXCHANGE, INHERIT, LEASE, OR OTHERWISE ACQUIRE REAL AND PERSONAL PROPERTY, OR ANY INTEREST THEREIN, OR WHATEVER KIND, AND TO OWN, HOLD, CONTROL, MAINTAIN, MANAGE, CONVEY, DISPOSE OF, OR CHANGE THE CHARACTER OF SUCH PROPERTY, AND ENGAGE IN ANY LAWFUL ACT OR ACTIVITY FOR WHICH A CORPORATION MAY BE ORGANIZED UNDER THE REVISED NON-STOCK CORPORATION ACT. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | FIRST CITY FUND CORPORATION ("FCFC") WAS CREATED IN MAY 2004, THROUGH NEGOTIATIONS BETWEEN THE MAYOR OF THE CITY OF NEW HAVEN AND NEW HAVEN SAVINGS BANK (NHSB) (NOW KEYCORP) ("KEY") TO ENSURE ACCESS TO FINANCIAL RESOURCES FOR NEW HAVEN'S LOWER INCOME AND FINANCIALLY UNDERSERVED CITIZENS. IN 2003, THE NHSB ANNOUNCED PLANS TO CONVERT FROM A MUTUAL SAVINGS BANK INTO A CAPITAL STOCK SAVINGS BANK, AND TO EXPAND BEYOND THE NEW HAVEN REGION THROUGH THE ACQUISITION OF TWO BANKS IN NORTHERN CONNECTICUT. THE MAYOR AND OTHER NEW HAVEN RESIDENTS WERE CONCERNED THAT NHSB'S CHANGE IN STRUCTURE WOULD RESULT IN DISINVESTMENT IN THE NEW HAVEN AREA, NEGATIVELY IMPACTING THE ECONOMIC PROSPECTS OF THE CITY OF NEW HAVEN, AND ESPECIALLY ITS DISADVANTAGED AREAS, WHICH WERE ALREADY UNDERSERVED BY BANKING SERVICES. AS PART OF THE AGREEMENT BETWEEN THE CITY OF NEW HAVEN AND NHSB, NHSB AGREED TO FUND FCFC. ON NOVEMBER 3, 2005, THE INTERNAL REVENUE SERVICE APPROVED FCFC'S APPLICATION FOR TAX-EXEMPT STATUS WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE"); PROVIDED, HOWEVER, IN ACCORDANCE WITH THE PROVISIONS OF SECTION 509(A)(3) OF THE CODE AND THE TREASURY REGULATIONS THEREIN, FCFC (THE "SUPPORT ORGANIZATION") IS ORGANIZED, AND SHALL AT ALL TIMES BE OPERATED EXCLUSIVELY TO BENEFIT, TO SUPPORT, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES OF THE CITY OF NEW HAVEN (THE "SUPPORTED ORGANIZATION").FCFC ENGAGED IN ACTIVITIES FOR THE CREATION AND ESTABLISHMENT OF A COMMUNITY DEVELOPMENT BANK, NEW HAVEN BANK (THE "BANK"). FCFC PERFORMED AN EXECUTIVE SEARCH AND HIRED A CHIEF EXECUTIVE OFFICER, CHIEF FINANCIAL OFFICER, CHIEF LENDING OFFICER, AND OTHER SUPPORT STAFF; DEVELOPED A BUSINESS PLAN; AND CREATED THE NECESSARY DOCUMENTS FOR THE ESTABLISHMENT AND OPERATION OF THE BANK. ON OCTOBER 15, 2008, THE APPLICATION TO FORM A BANK WAS SUBMITTED TO, AND ACCEPTED BY, THE CONNECTICUT DEPARTMENT OF BANKING. ON JUNE 19, 2009, FCFC RECEIVED A TEMPORARY CERTIFICATE OF AUTHORITY FROM THE CONNECTICUT STATE TREASURER AND THE CONNECTICUT STATE COMPTROLLER.THE BANK IS A STATE OF CONNECTICUT CHARTERED COMMUNITY DEVELOPMENT BANK HEADQUARTERED IN NEW HAVEN, CONNECTICUT, WHOSE DEPOSITS ARE INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION ("FDIC"). THE BANK IS A WHOLLY-OWNED SUBSIDIARY OF FIRST COMMUNITY BANCORP, INC. (A "MID-TIER BANK HOLDING COMPANY"), WHICH IS A WHOLLY-OWNED SUBSIDIARY OF FCFC, WHICH IS ALSO ORGANIZED AS A BANK HOLDING COMPANY. ON DECEMBER 1, 2010, FCFC AND THE MID-TIER BANK HOLDING COMPANY RECEIVED APPROVAL FROM THE FEDERAL RESERVE BANK OF BOSTON TO BECOME BANK HOLDING COMPANIES UNDER THE BANK HOLDING COMPANY ACT. ON DECEMBER 20, 2010, THE STATE OF CONNECTICUT AND FDIC ISSUED THE BANK'S FINAL CERTIFICATE OF AUTHORITY AND THE BANK OPENED FOR BUSINESS ON THAT DATE. ON THAT DATE, FCFC INVESTED APPROXIMATELY $17,000,000 INTO THE MID-TIER BANK HOLDING COMPANY, WHICH HAS, IN TURN, INVESTED $16,750,000 IN THE CAPITAL STOCK OF THE BANK. THE INVESTMENT IN CAPITAL STOCK OF THE BANK OF $16,750,000 CONSISTED OF CASH OF $11,435,427, FIXED ASSETS OF $1,475,706, OTHER ASSETS OF $134,826, ACCRUED EXPENSES AND OTHER LIABILITIES OF $69,393, AND COSTS INCURRED BY FCFC IN THE ORGANIZATIONAL ACTIVITIES OF THE BANK OF $3,773,434. THE MID-TIER HOLDING COMPANY OWNS 100% OF THE BANK'S VOTING SHARES.THE BANK PROVIDES A FULL RANGE OF BANKING SERVICES TO PRIVATE CUSTOMERS IN SOUTH-CENTRAL CONNECTICUT. THE BANK'S APPLICATION TO BECOME A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION WAS APPROVED ON SEPTEMBER 10, 2012. | Desc |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | 0 | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | Yes (1) | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | 0 | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | 0 | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | 0 | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 0 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 0 | EmployeeCnt |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 8 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 8 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | 0 | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MICHAEL KINNE | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2037721426 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 299 WHALLEY AVENUE | AddressLine1Txt |
| City | NEW HAVEN | CityNm |
| State Abbreviation | CT | StateAbbreviationCd |
| ZIP | 065113141 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| No Listed Persons Compensated | Yes (X) | NoListedPersonsCompensatedInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (8 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt |
|---|---|---|---|---|---|---|
| MARK G SKLARZ | ||||||
| DIRECTOR & PRESIDENT | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| JOHN DESTEFANO | ||||||
| DIRECTOR & SECRETARY | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| ROBIN GOLDEN | ||||||
| DIRECTOR & TREASURER | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| CHARLES NEGARO | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| ROLAN JONI YOUNG | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| DAVID NEWTON | ||||||
| DIRECTOR & VICE PRESIDENT | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| SHENAE DRAUGHN | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| CARLOS EYZAGUIRRE | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $0 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $0 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | 0 | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
| Cntrct Rcvd Greater Than100 K | 0 | CntrctRcvdGreaterThan100KCnt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $781 | TotalAmt |
| Management And General | $781 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $12,100 | TotalAmt |
| Management And General | $12,100 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $16,355 | TotalAmt |
| Management And General | $16,355 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,025 | TotalAmt |
| Management And General | $2,025 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $31,261 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $31,261 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $97,813 | BOYAmt |
| EOY | $45,661 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,569 | BOYAmt |
| EOY | $3,544 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $19,664,616 | BOYAmt |
| EOY | $15,639,648 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $19,767,998 | BOYAmt |
| EOY | $15,688,853 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $22,916 | BOYAmt |
| EOY | $0 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $22,916 | BOYAmt |
| EOY | $0 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $19,745,082 | BOYAmt |
| EOY | $15,688,853 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $19,745,082 | BOYAmt |
| EOY | $15,688,853 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $19,767,998 | BOYAmt |
| EOY | $15,688,853 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | -$31,261 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$51,765 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$3,973,203 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supporting Organization509a3 | Yes (X) | SupportingOrganization509a3Ind |
| Supporting Org Type3 Func Int | Yes (X) | SupportingOrgType3FuncIntInd |
| IRS Written Determination | Yes (X) | IRSWrittenDeterminationInd |
| Supported Organizations | 1 | SupportedOrganizationsCnt |
Supported Org Information SupportedOrgInformationGrp
Supported Organization Name SupportedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CITY OF NEW HAVEN | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 066001876 | EIN |
| Organization Type | 6 | OrganizationTypeCd |
| Governing Document Listed | Yes (1) | GoverningDocumentListedInd |
| Support | $0 | SupportAmt |
| Other Support | $0 | OtherSupportAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supported Organizations Total | 1 | SupportedOrganizationsTotalCnt |
| Support Sum | $0 | SupportSumAmt |
| Other Support Sum | $0 | OtherSupportSumAmt |
Form990 Sch A Supporting Org Form990SchASupportingOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Listed By Name Governing Doc | Yes (1) | ListedByNameGoverningDocInd |
| Suprt Org No IRS Determination | 0 | SuprtOrgNoIRSDeterminationInd |
| Supported Org Section C456 | 0 | SupportedOrgSectionC456Ind |
| Supported Org Not Organized US | 0 | SupportedOrgNotOrganizedUSInd |
| Organization Change Suprt Org | 0 | OrganizationChangeSuprtOrgInd |
| Support Non Supported Org | 0 | SupportNonSupportedOrgInd |
| Payment Substantial Contribtr | 0 | PaymentSubstantialContribtrInd |
| Loan Disqualified Person | 0 | LoanDisqualifiedPersonInd |
| Controlled Disqualified Prsn | 0 | ControlledDisqualifiedPrsnInd |
| Disqualified Prsn Controll Int | 0 | DisqualifiedPrsnControllIntInd |
| Disqualified Prsn Ownr Int | 0 | DisqualifiedPrsnOwnrIntInd |
| Excess Business Holdings Rules | 0 | ExcessBusinessHoldingsRulesInd |
| Contribution Controller | 0 | ContributionControllerInd |
| Contribution Family | 0 | ContributionFamilyInd |
| Contribution35 Controlled | 0 | Contribution35ControlledInd |
Form990 Sch A Type3 Sprt Org All Form990SchAType3SprtOrgAllGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timely Provided Documents | Yes (1) | TimelyProvidedDocumentsInd |
| Officers Close Relationship | Yes (1) | OfficersCloseRelationshipInd |
| Supported Org Voice Investment | Yes (1) | SupportedOrgVoiceInvestmentInd |
Form990 Sch A Type3 Func Int Form990SchAType3FuncIntGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Activities Test | Yes (X) | ActivitiesTestInd |
| Activities Further Exempt Prps | Yes (1) | ActivitiesFurtherExemptPrpsInd |
| Activities Engaged Org Invlmnt | Yes (1) | ActivitiesEngagedOrgInvlmntInd |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, SECTION D, LINE 3 | THE SUPPORTING ORGANIZATION IS A MEMBER OF THE BOARD OF WHOSE INVOLVEMENT IS TO ADVISE ON INVESTMENT OPPORTUNITIES THAT WOULD BENEFIT THE RESIDENTS OF THE CITY OF NEW HAVEN. THE CURRENT MEMBER IS THE EXECUTIVE DIRECTOR OF THE NEW HAVEN HOUSING AUTHORITY AND IT IS ANTICIPATED THAT THESE OPPORTUNITIES WOULD INVOLVE HOUSING, BOTH FIRST TIME HOME BUYERS AS WELL AS INITIATIVES THAT WOULD SERVE LOW INCOME HOUSING OPPORTUNITIES. |
| PART IV, SECTION E, LINE 2B | IF FCFC DID NOT PERFORM THE ACTIVITIES AS DESCRIBED IN LINE 2.A, THEN THE CITY OF NEW HAVEN WOULD NEED TO FIND AN ALTERNATE ENTITY TO PERFORM THESE ACTIVITIES. |
| PART IV, SECTION E, LINE 2A | FCFC'S ONLY ACTIVITIES ARE THE OPERATIONS OF THE BANK, AND SUBSTANTIALLY ALL OF THE BANK'S ACTIVITIES SUPPORT THE CITY OF NEW HAVEN (SUPPORTED ORGANIZATION) THROUGH THE PROMOTION OF COMMUNITY DEVELOPMENT WITHIN THE GREATER NEW HAVEN AREA, INCLUDING, BUT NOT LIMITED TO, AFFORDABLE HOUSING, EDUCATION, COMMUNITY SERVICES, SMALL BUSINESS DEVELOPMENT, ECONOMIC DEVELOPMENT, ACTIVITIES THAT REVITALIZE OR STABILIZE LOW AND MODERATE INCOME GEOGRAPHIES AND OTHER FORMS OF CHARITABLE ASSISTANCE TO THOSE IN NEED THEREOF. THE BANK, WHICH IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION, ENSURES ACCESS TO FINANCIAL RESOURCES FOR NEW HAVEN'S LOWER INCOME AND FINANCIALLY UNDERSERVED CITIZENS. |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $0 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | INVESTMENT IN SUBSIDIARY | Desc |
| Book Value | $15,639,648 | BookValueAmt |
| Method Valuation | C | MethodValuationCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $15,639,648 | TotalBookValueProgramRltdAmt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (7 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION B, LINE 11B | PRESENTED BEFORE FILING AND REVIEWED FOR CORRECTNESS. |
| FORM 990, PART VI, SECTION B, LINE 15 | COMPENSATION LEVELS WERE REVIEWED AND DETERMINED TO BE REASONABLE WITHIN THE INDUSTRY WHICH THE ORGANIZATION OPERATES. |
| FORM 990, PART VI, SECTION C, LINE 18 | DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST |
| FORM 990, PART VI, SECTION C, LINE 19 | DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST |
| FORM 990, PART IX, LINE 11G | OTHER EXPENSES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 16,355. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 16,355. |
| FORM 990, PART XI, LINE 9: | INCOME/(EXPENSE) FROM SUBSIDIARY -3,973,203. |
| FORM 990, PART X, LINE 13 | THE INVESTMENTS ARE SOLELY RELATED TO THE BANK HOLDING COMPANY (AND NOT ANY OTHER SECURITIES). |
Schedule R IRS990ScheduleR
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FIRST COMMUNITY BANCORP INC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 299 WHALLEY AVENUE | AddressLine1Txt |
| City | NEW HAVEN | CityNm |
| State Abbreviation | CT | StateAbbreviationCd |
| ZIP | 06511 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 273725977 | EIN |
| Primary Activities | BANKING | PrimaryActivitiesTxt |
| Legal Domicile State | CT | LegalDomicileStateCd |
| Entity Type | C | EntityTypeTxt |
| Share Of Total Income | -$3,973,203 | ShareOfTotalIncomeAmt |
| Share Of EOY Assets | $15,688,853 | ShareOfEOYAssetsAmt |
| Controlled Organization | 0 | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |