Congregations Organized for a New Connecticut Inc

Analysis

Congregations Organized for a New Connecticut Inc is a registered charity in United States, based in Hamden, CT. It received its IRS tax-exemption ruling in March 1995, 31 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Congregations Organized for a New Connecticut Inc reported income of $495k and spending of $466k, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $367k to $495k (+35%), an average of +7.8% a year. The sharpest change came in the year to December 2021, when income rose by 52%. Over the whole period it spent 91% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Congregations Organized for a New Connecticut Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 68th percentile within CT. Charities of a similar size with the same main cause include San Antonio Community Development Council Inc ($495k), Global Mentorship Initiative ($496k) and Somali Senior Resource and Family Services ($495k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 0.8% of the total. Compensation of current officers, directors and key employees was $122k (26% of expenses). Other salaries and wages came to $80k. At year end it held assets of $655k against liabilities of $3,226, net assets of $651k. It reported 6 employees.