Conncorp LLC

Analysis

Conncorp LLC is a registered charity in United States, based in New Haven, CT. It received its IRS tax-exemption ruling in April 2022, 4 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Conncorp LLC reported income of $5.6m and spending of $4.2m, leaving 24% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income grew from $1.8m to $5.6m (+206%), an average of +75% a year. The sharpest change came in the year to December 2022, when income rose by 293%. Over the whole period it spent 55% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Conncorp LLC 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 93rd percentile, and in the 91st percentile within CT. Charities of a similar size with the same main cause include Epic Family of Human Service Agencies ($5.6m), Construction Craft Laborers Training and Apprenticeship Fund ($5.6m) and Jackson County Developmental Center Inc ($5.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 85% and program service revenue 9.0% of the total. Compensation of current officers, directors and key employees was $1.0m (24% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $42.3m against liabilities of $21.2m, net assets of $21.1m. It reported 32 employees.