Connect Foundation

Analysis

Connect Foundation is a registered charity in United States, based in San Diego, CA. It received its IRS tax-exemption ruling in April 2006, 20 years ago. Its declared purposes cover education, which this site groups under education and training. 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 June 2023, Connect Foundation reported income of $2.6m and spending of $2.2m, spending 87% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $2.3m to $2.6m (+10%), an average of +3.2% a year. The sharpest change came in the year to June 2022, when income rose by 89%. Over the whole period it spent 88% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Connect Foundation sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 88th percentile within CA. Charities of a similar size with the same main cause include Digitallift US ($2.6m), Childrens Center at Usc ($2.6m) and Foundation for Civic Leadership Inc ($2.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 82% and program service revenue 18% of the total. Compensation of current officers, directors and key employees was $476k (21% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $2.6m against liabilities of $1.3m, net assets of $1.3m. It reported 14 employees.