Connecticut Institute for Communities Inc

Analysis

Connecticut Institute for Communities Inc is a registered charity in United States, based in Danbury, CT. It received its IRS tax-exemption ruling in March 2004, 22 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, Connecticut Institute for Communities Inc reported income of $41.9m and spending of $41.6m, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $28.8m to $41.9m (+45%), an average of +9.8% a year. The sharpest change came in the year to December 2022, when income rose by 20%. Over the whole period it spent 93% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Connecticut Institute for Communities Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within CT. Charities of a similar size with the same main cause include National Center for Civic Innovation Inc ($41.7m), Community Crossroads Inc ($42.5m) and Motivation Education and Training ($41.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 63% and program service revenue 35% of the total. Compensation of current officers, directors and key employees was $523k (1.3% of expenses). Other salaries and wages came to $21.5m. At year end it held assets of $34.6m against liabilities of $13.1m, net assets of $21.5m. It reported 522 employees.