The Connecticut Renaissance Fund Inc

Analysis

The Connecticut Renaissance Fund Inc is a registered charity in United States, based in Shelton, CT. It received its IRS tax-exemption ruling in June 1990, 36 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, The Connecticut Renaissance Fund Inc reported income of $198k and spending of $49k, leaving 75% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $257k to $198k (-23%), an average of -6.3% a year. The sharpest change came in the year to June 2022, when income dropped by 20%. Over the whole period it spent 88% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, The Connecticut Renaissance Fund Inc sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 54th percentile, and in the 51st percentile within CT. Charities of a similar size with the same main cause include Business and Education Network Inc ($198k), Community Based Organization Partners ($198k) and 25045-A New Clendenin Inc ($198k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 97% of the total. At year end it held assets of $1.9m against liabilities of $292k, net assets of $1.6m.