Southeastern Connecticut Enterprise Region Corporation

Analysis

Southeastern Connecticut Enterprise Region Corporation is a registered charity in United States, based in Groton, CT. It received its IRS tax-exemption ruling in May 1989, 37 years ago. 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 2024, Southeastern Connecticut Enterprise Region Corporation reported income of $3.4m and spending of $2.8m, spending 83% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $1.3m to $3.4m (+167%), an average of +28% a year. The sharpest change came in the year to June 2021, when income rose by 108%. Over the whole period it spent 82% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Southeastern Connecticut Enterprise Region Corporation sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 88th percentile within CT. Charities of a similar size with the same main cause include Stepping Stone of San Diego ($3.4m), Jewish Council for Public Affairs ($3.4m) and Guy and Mary Felt Manor Incorporated ($3.4m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 79% and program service revenue 5.1% of the total. Compensation of current officers, directors and key employees was $152k (5.4% of expenses). Other salaries and wages came to $838k. At year end it held assets of $8.4m against liabilities of $146k, net assets of $8.2m. It reported 11 employees.