Connecticut Center for Arts & Technology Inc

Analysis

Connecticut Center for Arts & Technology Inc is a registered charity in United States, based in New Haven, CT. It received its IRS tax-exemption ruling in September 2011, 15 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Connecticut Center for Arts & Technology Inc reported income of $1.2m and spending of $2.5m, spending 203% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $8.4m to $1.2m (-86%), an average of -38% a year. The sharpest change came in the year to December 2022, when income dropped by 91%. Over the whole period it spent 56% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Connecticut Center for Arts & Technology Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 80th percentile within CT. Charities of a similar size with the same main cause include Klamath Community College Foundation ($1.2m), Tennessee Higher Education Initiative Inc ($1.2m) and Hope Preparatory School Inc ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $103k (4.2% of expenses). Other salaries and wages came to $831k. At year end it held assets of $1.5m against liabilities of $3.1m, net assets of -$1.5m. It reported 30 employees.