Connect to Compete Inc

Analysis

Connect to Compete Inc is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in April 2014, 12 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. 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, Connect to Compete Inc reported income of $2.2m and spending of $1.9m, spending 84% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $661k to $2.2m (+236%), an average of +35% a year. The sharpest change came in the year to December 2020, when income rose by 157%. Over the whole period it spent 76% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Connect to Compete Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 87th percentile within CA. Charities of a similar size with the same main cause include Lorton Community Action Center ($2.2m), Rye Free Reading Room ($2.2m) and Voluntary Protection Programs Participants Association Inc ($2.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 0.9% of the total. Compensation of current officers, directors and key employees was $273k (15% of expenses). Other salaries and wages came to $750k. At year end it held assets of $2.4m against liabilities of $35k, net assets of $2.4m. It reported 13 employees.