Independent Connecticut Petroleum Association Education Foundation

Analysis

Independent Connecticut Petroleum Association Education Foundation is a registered charity in United States, based in Cromwell, CT. It received its IRS tax-exemption ruling in January 2005, 21 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, Independent Connecticut Petroleum Association Education Foundation reported income of $838k and spending of $844k, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $759k to $838k (+10%), an average of +2.5% a year. The sharpest change came in the year to December 2022, when income rose by 25%. Over the whole period it spent 86% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Independent Connecticut Petroleum Association Education Foundation sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 75th percentile within CT. Charities of a similar size with the same main cause include Unad Florida Inc ($838k), Northeast Wa-Northern Idaho Sheet Metal Educational Training Trust ($838k) and Eternity Christian School ($838k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 9.2% and program service revenue 88% of the total. Other salaries and wages came to $334k. At year end it held assets of $2.3m against liabilities of $852k, net assets of $1.4m. It reported 5 employees.