Connec Train Corp

Analysis

Connec Train Corp is a registered charity in United States, based in Charleston, WV. It received its IRS tax-exemption ruling in July 2020, 6 years ago. Its declared purposes cover employment, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Connec Train Corp reported income of $2.0m and spending of $710k, leaving 64% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $1.1m to $2.0m (+89%), an average of +89% a year. The sharpest change came in the year to December 2023, when income rose by 89%. Over the whole period it spent 57% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Connec Train Corp sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 85th percentile within WV. Charities of a similar size with the same main cause include Berwyn Development Corporation ($2.0m), Hawaii Local 2030 Hub ($2.0m) and Sandra Day Oconnor Institute ($2.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $50k. At year end it held assets of $1.7m against liabilities of $334k, net assets of $1.3m.