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TO ORGANIZE AND PROMOTE FURTHER ECONOMIC GROWTH.
Source: IRS Form 990 (Tax Year 2024)
Source: IRS e-Filed Form 990 (from the IRS e-File system), Tax Year 2023
Total Revenue
▼$4.9M
Program Spending
88%
of total expenses go to program services
Total Contributions
$3.7M
Total Expenses
▼$5.7M
Total Assets
$34.5M
Total Liabilities
▼$14.9M
Net Assets
$19.6M
Officer Compensation
→$479.9K
Other Salaries
$437.4K
Investment Income
$239.5K
Fundraising
▼N/A
Tax Year 2023 · Source: IRS Form 990, Schedule I (Grants and Other Assistance)
Total grants awarded: $929.5K
| Recipient | Location | Amount | Type | Purpose |
|---|---|---|---|---|
SPANISH AMERICAN MERCHANTS ASSOCIATION | HARTFORD, CT | $929.5K | Cash | PARTNER DISBURSEMENT RELATED TO DECD MINORITY SMALL BUSINESS PROGRAM |
| Total | $929.5K | |||
SPANISH AMERICAN MERCHANTS ASSOCIATION
HARTFORD, CT
$929.5K
Source: USAspending.gov · Searched by organization name
Total Federal Funding
$3.5M
Awards Found
19
Small Business Administration
$200K
HEDCO WILL WORK WITH ITS CORE PARTNERS TO OFFER TECHNICAL ASSISTANCE TO ECONOMICALLY DISADVANTAGED ENTREPRENEURS DOING BUSINESS OR SEEKING TO BUSINESS IN THE FEDERAL NORTH HARTFORD PROMISE ZONE
Small Business Administration
$150K
PROGRAM FOR INVESTMENT IN MICROENTREPRENEURS - PRIME
Small Business Administration
$150K
PROGRAM FOR INVESTMENT IN MICROENTREPRENEURS
Small Business Administration
$138.5K
HEDCO INC - CT TO ASSIST ALL ENTREPRENEURS BUSINESS OWNERS AND OTHER INDIVIDUALS POSSESSING THE CAPABILITY TO OPERATE SUCCESSFUL BUSINESS CONCERNS AND TO ASSIST SMALL BUSINESS CONCERNS IN THOSE AREAS SUFFERING FROM A LACK OF CREDIT DUE TO ECONOMIC DOWNTURNS UNDER THE PROGRAM THE SMALL BUSINESS ADMINISTRATION SBA WILL MAKE LOANS OR PROVIDE GUARANTIES TO PRIVATE NON PROFIT AND QUASI GOVERNMENTAL ORGANIZATIONS INTERMEDIARY LENDERS THAT WILL USE THE LOAN FUNDS TO MAKE SHORT TERM FIXED INTEREST RATE MICROLOANS IN AMOUNTS UP TO 50000 DOLLARS TO START UP NEWLY ESTABLISHED AND GROWING SMALL BUSINESS CONCERNS THESE MICROLOANS ARE TO BE USED EXCLUSIVELY FOR WORKING CAPITAL INVENTORY SUPPLIES FURNITURE FIXTURES MACHINERY AND OR EQUIPMENT IN ADDITION THE SBA WILL MAKE GRANTS TO PARTICIPATING INTERMEDIARY LENDERS TO PROVIDE MARKETING MANAGEMENT AND TECHNICAL ASSISTANCE TO PROSPECTIVE BORROWERS AND BORROWERS RECEIVING MICROLOANS UNDER THE PROGRAM SBA WILL ALSO PROVIDE TRAINING FOR INTERMEDIARY LENDERS PARTICIPATING IN THE
Small Business Administration
$131.3K
HEDCO SMALL BUSINESS INTERMEDIARY TECHNICAL ASSISTANCE PROGRAM
Small Business Administration
$105.4K
MICROLOAN TECHNICAL ASSISTANCE PROGRAM
Small Business Administration
$102.4K
HARTFORD ECONOMIC DEVELOPMENT CORP, CT THE SMALL BUSINESS ADMINISTRATION (SBA) MICROLOAN PROGRAM PROVIDES DIRECT LOANS AND GRANTS TO ELIGIBLE NON-PROFIT MICROLENDERS SO THAT THEY MAY PROVIDE MICRO-LEVEL LOANS, AND BUSINESS BASED TRAINING AND TECHNICAL ASSISTANCE TO START- UP, NEWLY ESTABLISHED AND GROWING SMALL BUSINESS CONCERNS.
Small Business Administration
$102.3K
THE SMALL BUSINESS ADMINISTRATION (SBA) MICROLOAN PROGRAM PROVIDES DIRECT LOANS AND GRANTS TO ELIGIBLE NON-PROFIT MICROLENDERS SO THAT THEY MAY PROVIDE MICRO-LEVEL LOANS, AND BUSINESS BASED TRAINING AND TECHNICAL ASSISTANCE TO START- UP, NEWLY ESTABLISHED AND GROWING SMALL BUSINESS CONCERNS.
Small Business Administration
$92.8K
THE SMALL BUSINESS ADMINISTRATION (SBA) MICROLOAN PROGRAM PROVIDES DIRECT LOANS AND GRANTS TO ELIGIBLE NON-PROFIT MICROLENDERS SO THAT THEY MAY PROVIDE MICRO-LEVEL LOANS, AND BUSINESS BASED TRAINING AND TECHNICAL ASSISTANCE TO START- UP, NEWLY ESTABLISHED AND GROWING SMALL BUSINESS CONCERNS.
Small Business Administration
$57.8K
MICROLOAN PROGRAM ? TECHNICAL ASSISTANCE
Small Business Administration
$50K
MICROLOAN TECHNICAL ASSISTANCE PROGRAM
Source: Federal Audit Clearinghouse (fac.gov)
Total Audits
6
Clean Audits
5
Material Weakness
Yes
Noncompliance Issues
No
| Year | Status | Financial Report | Federal Expenditure | Low Risk | Accepted |
|---|---|---|---|---|---|
| 2025 | Clean | Unmodified (Clean) | $1.4M | No | 2025-12-31 |
| 2024 | Clean | Unmodified (Clean) | $1.1M | No | 2024-10-21 |
| 2023 | Material Weakness | Unmodified (Clean) | $2.6M | Yes | 2024-02-08 |
| 2022 | Clean | Unmodified (Clean) | $844.5K | No | 2023-01-10 |
| 2021 | Clean | Unmodified (Clean) | $955K | No | 2021-09-13 |
| 2020 | Clean | Unmodified (Clean) | $1M | No | 2021-01-06 |
Financial Report
Unmodified (Clean)
Federal Expenditure
$1.4M
Financial Report
Unmodified (Clean)
Federal Expenditure
$1.1M
Financial Report
Unmodified (Clean)
Federal Expenditure
$2.6M
Financial Report
Unmodified (Clean)
Federal Expenditure
$844.5K
Financial Report
Unmodified (Clean)
Federal Expenditure
$955K
Financial Report
Unmodified (Clean)
Federal Expenditure
$1M
Tax Year 2024 · Source: IRS e-Filed Form 990Schedule J available
Individuals serving as officers, directors, or trustees of the organization.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other |
|---|
Source: IRS Publication 78, Auto-Revocation List & e-Postcard Data
Tax-deductible contributions: Yes
Deductibility code: PC
Sources: IRS e-Filed Form 990 (XML) & ProPublica Nonprofit Explorer
Scroll →
| Year | Revenue | Contributions | Expenses | Assets | Net Assets |
|---|---|---|---|---|---|
| 2023IRS e-File | $4.9M | $3.7M | $5.7M | $34.5M | $19.6M |
| 2022IRS e-File | $4.5M | $3.1M | $3.2M | $35.6M | $20.4M |
| 2021 | $7.6M | $6.1M | $6.2M | $31.6M | $21.2M |
| 2020 | $2.4M |
Sources: ProPublica Nonprofit Explorer & IRS e-File Index
Financial data: IRS e-Filed Form 990 (Tax Year 2023)
Leadership & compensation: IRS e-Filed Form 990, Part VII (Tax Year 2024)
Federal grants: USAspending.gov (live)
Organization info: IRS Business Master File
Tax-deductibility: IRS Publication 78
| Total |
|---|
| Kim Hawkins | President & CEO | 40 | $242.5K | $0 | $31.3K | $273.8K |
| Patricia Geronimo | Chief Financial Officer | 40 | $135.4K | $0 | $28.6K | $164K |
| Wayne Benjamin | Asst. Treasurer | 1 | $0 | $0 | $0 | $0 |
| Julio Mendoza | Chair, Nominating Committe | 1 | $0 | $0 | $0 | $0 |
| Barbara Randolph | Chairperson | 1 | $0 | $0 | $0 | $0 |
| Eric M Bauer | Vice Chair | 1 | $0 | $0 | $0 | $0 |
| Marianne Stowell | Treasurer | 1 | $0 | $0 | $0 | $0 |
| Edward J Samorajczyk | Secretary | 1 | $0 | $0 | $0 | $0 |
| Paul Perakos | Asst. Secretary | 1 | $0 | $0 | $0 | $0 |
Kim Hawkins
President & CEO
$273.8K
Hrs/Wk
40
Compensation
$242.5K
Related Orgs
$0
Other
$31.3K
Patricia Geronimo
Chief Financial Officer
$164K
Hrs/Wk
40
Compensation
$135.4K
Related Orgs
$0
Other
$28.6K
Wayne Benjamin
Asst. Treasurer
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Julio Mendoza
Chair, Nominating Committe
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Barbara Randolph
Chairperson
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Eric M Bauer
Vice Chair
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Marianne Stowell
Treasurer
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Edward J Samorajczyk
Secretary
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Paul Perakos
Asst. Secretary
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Members of the governing board. Board members often serve without compensation.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Alan Lazowski | Director | 1 | $0 | $0 | $0 | $0 |
| Ana Alfaro | Director | 1 | $0 | $0 | $0 | $0 |
| Andreas Kapetanopoulos | Director | 1 | $0 | $0 | $0 | $0 |
| Dante Fazzina | Director | 1 | $0 | $0 | $0 | $0 |
| David Cabezas | Director | 1 | $0 | $0 | $0 | $0 |
| Jeff Hubbard | Director |
Alan Lazowski
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Ana Alfaro
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Andreas Kapetanopoulos
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
| $1.7M |
| $2.6M |
| $40.2M |
| $19.6M |
| 2019 | $4M | $3.4M | $2.4M | $35.8M | $20.3M |
| 2018 | $3.3M | $2.5M | $2.3M | $34.9M | $18.7M |
| 2017 | $6.4M | $5.7M | $3M | $34.6M | $17.7M |
| 2016 | $4.7M | $3.8M | $2.5M | $32.6M | $15.2M |
| 2015 | $4.1M | $3.1M | $2.6M | $30.1M | $13M |
| 2014 | $2.2M | $1.2M | $2M | $28.5M | $11.5M |
| 2013 | $3.6M | $2.7M | $2.4M | $28.6M | $11.2M |
| 2012 | $2.1M | $1.5M | $1.9M | $24.8M | $10M |
| 2021 | 990 | Data | PDF not yet published by IRS |
| 2020 | 990 | Data |
| 2019 | 990 | Data |
| 2018 | 990 | Data | PDF not yet published by IRS |
| 2017 | 990 | Data |
| 2016 | 990 | Data |
| 2015 | 990 | Data |
| 2014 | 990 | Data |
| 2013 | 990 | Data |
| 2012 | 990 | Data |
| 2011 | 990 | — |
| 2010 | 990 | — |
| 2009 | 990 | — |
| 2008 | 990 | — |
| 2007 | 990 | — |
| 2006 | 990 | — |
| 2005 | 990 | — |
| 2004 | 990 | — |
| 2003 | 990 | — |
| 2002 | 990 | — |
| 2001 | 990 | — |
| 1 |
| $0 |
| $0 |
| $0 |
| $0 |
| Michael Casparino | Director | 1 | $0 | $0 | $0 | $0 |
| Pauline Yoder | Director | 1 | $0 | $0 | $0 | $0 |
| Robert J Kreuzer | Director | 1 | $0 | $0 | $0 | $0 |
| Sheila S Hummel | Director | 1 | $0 | $0 | $0 | $0 |
| Yvonne Zhao | Director | 1 | $0 | $0 | $0 | $0 |
Dante Fazzina
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
David Cabezas
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Jeff Hubbard
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Michael Casparino
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Pauline Yoder
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Robert J Kreuzer
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Sheila S Hummel
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Yvonne Zhao
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0