Connecticut News Project Inc

Analysis

Connecticut News Project Inc is a registered charity in United States, based in Hartford, CT. It received its IRS tax-exemption ruling in June 2010, 16 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Connecticut News Project Inc reported income of $2.7m and spending of $2.5m, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.7m to $2.7m (+61%), an average of +13% a year. The sharpest change came in the year to December 2020, when income rose by 29%. Over the whole period it spent 79% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Connecticut News Project Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 86th percentile within CT. Charities of a similar size with the same main cause include Farmers Museum Inc ($2.7m), Midwest Art Conservation Center Inc ($2.7m) and Lexarts Inc ($2.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% and program service revenue 5.3% of the total. Compensation of current officers, directors and key employees was $134k (5.3% of expenses). Other salaries and wages came to $1.6m. At year end it held assets of $2.8m against liabilities of $73k, net assets of $2.7m. It reported 34 employees.