Va Connecticut Research and Education Foundation Inc

Analysis

Va Connecticut Research and Education Foundation Inc is a registered charity in United States, based in West Haven, CT. It received its IRS tax-exemption ruling in September 2005, 21 years ago. Its declared purposes cover medical research, which this site groups under health and saving lives. The IRS classifies it as a hospital or medical research organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Va Connecticut Research and Education Foundation Inc reported income of $2.1m and spending of $2.2m, spending 105% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.7m to $2.1m (+22%), an average of +5.1% a year. The sharpest change came in the year to September 2023, when income rose by 42%. Over the whole period it spent 119% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Va Connecticut Research and Education Foundation Inc sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 84th percentile within CT. Charities of a similar size with the same main cause include Martin County Health Start Coalition Inc ($2.1m), Ronald McDonald House Charities of the Ohio Valley Inc ($2.1m) and Access Community Health Center ($2.1m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.4% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $176k (8.0% of expenses). Other salaries and wages came to $204k. At year end it held assets of $7.6m against liabilities of $3.4m, net assets of $4.2m. It reported 12 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.