Nonprofit · EIN 06-1369657
CONNECTICUT ECONOMIC RESOURCE
Tax-exempt · NEW HAVEN, CT 06513
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $5,345,997 | $4,730,237 | $615,760 | $4,715,567 | $1,552,447 | $3,163,120 |
| December 31, 2023 | 990 | $5,035,626 | $4,722,183 | $313,443 | $3,903,297 | $1,355,937 | $2,547,360 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $2,501,333
- Membership dues
- $2,282,333
- Program service revenue
- $2,746,550
- Investment income
- $97,464
- Other revenue
- $650
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $1,548,387
- Other salaries and wages
- $847,830
- Salaries, compensation and benefits (total)
- $2,911,414
- Professional fundraising fees
- $0
- Legal fees
- $3,532
- Accounting fees
- $140,429
- Occupancy
- $159,581
- Travel
- $150,169
- Depreciation
- $89,166
- Program services (functional)
- $4,131,066
- Management and general (functional)
- $599,171
Balance sheet and other
- Total assets, start of year
- $3,903,297
- Total assets, end of year
- $4,715,567
- Total liabilities, end of year
- $1,552,447
- Net assets, end of year
- $3,163,120
- Land, buildings and equipment
- $212,926
- Net assets without donor restrictions
- $3,163,120
- Gross receipts
- $5,345,997
- Employees
- 28
- Volunteers
- 0
- Year formed
- 1993
- State of legal domicile
- CT
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JOHN W BOURDEAUX | PRESIDENT & CEO Officer | 40 | $271,173 | $23,945 |
| CATHERINE SCANGARELLA | VP BUSINESS DEVELOPMENT Key employee | 40 | $209,160 | $23,139 |
| SHIRAR MUGLER | VP, MARKETING Highest-paid employee | 40 | $131,945 | $32,208 |
| RACHEL GRETENCORD | VP, RESEARCH Highest-paid employee | 40 | $143,265 | $14,574 |
| TIMOTHY MILLER | SENIOR DIR, BUSINESS DEVEL Highest-paid employee | 40 | $130,760 | $18,777 |
| PATRICIA MCLAUGHLIN | VP OPERATIONS Highest-paid employee | 40 | $126,839 | $18,701 |
| LISA MERCURIO | VP BUSINESS DEVELOPMENT Highest-paid employee | 40 | $114,986 | $29,753 |
| R ADAM NORWITT | CO-CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| JUDY OLIAN | CO-CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| DAN O'KEEFE | DIRECTOR & TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| JOSH GEBALLE | SECRETARY Trustee or director | 2 | $0 | $0 |
| DONALD ALLAN | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| FRANK REYNOLDS | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| GREG BUTLER | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| MARGARET KEANE | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
14 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| KATHLEEN SILARD | DIRECTOR Trustee or director | 0.5 | $0 |
| CARLTON HIGHSMITH | DIRECTOR Trustee or director | 0.5 | $0 |
| JAMES SMITH | DIRECTOR Trustee or director | 0.5 | $0 |
| JUDY MARKS | DIRECTOR Trustee or director | 0.5 | $0 |
| JAY WILLIAMS | DIRECTOR Trustee or director | 0.5 | $0 |
| JEFFREY SONNENFELD SR | DIRECTOR Trustee or director | 0.5 | $0 |
| RAJ RAMACHANDRAN | DIRECTOR Trustee or director | 0.5 | $0 |
| JOHN CIULLA | DIRECTOR Trustee or director | 0.5 | $0 |
| STACEY KENNEDY | DIRECTOR Trustee or director | 0.5 | $0 |
| PETER L DENIOUS | DIRECTOR Trustee or director | 0.5 | $0 |
| LUTZ LABISCH | DIRECTOR Trustee or director | 0.5 | $0 |
| LOUIS LU | DIRECTOR Trustee or director | 0.5 | $0 |
| JEFFREY FLAKS | DIRECTOR Trustee or director | 0.5 | $0 |
| SALIL PAREKH | DIRECTOR Trustee or director | 0.5 | $0 |
990 for the year ended December 31, 2023: 29 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| PETER L DENIOUS | CEO (THRU 9/30) Officer | 40 | $227,798 | $32,150 |
| JOHN W BOURDEAUX | PRESIDENT & CEO Officer | 40 | $198,508 | $10,277 |
| SHIRAR MUGLER | VP, MARKETING Highest-paid employee | 40 | $143,285 | $30,305 |
| CATHERINE SCANGARELLA | VP BUSINESS DEVELOPMENT Highest-paid employee | 40 | $153,462 | $17,340 |
| RACHEL GRETENCORD | VP, RESEARCH Highest-paid employee | 40 | $136,462 | $13,621 |
| EDWIN FISHER | DIRECTOR, BUSINESS DEVELOPMENT Highest-paid employee | 40 | $119,005 | $28,097 |
| TIMOTHY MILLER | SENIOR DIR, BUSINESS DEVELOPMENT Highest-paid employee | 40 | $115,723 | $17,776 |
| LISA MERCURIO | VP BUSINESS DEVELOPMENT Highest-paid employee | 40 | $101,323 | $27,004 |
| PATRICIA MCLAUGHLIN | VP OPERATIONS Highest-paid employee | 40 | $102,042 | $5,697 |
| R ADAM NORWITT | CO-CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| JUDY OLIAN | CO-CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| DAN OKEEFE | DIRECTOR & TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| JOSH GEBALLE | SECRETARY Trustee or director | 2 | $0 | $0 |
| DONALD ALLAN | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| FRANK REYNOLDS | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| GREG BUTLER | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| MARGARET KEANE | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| KATHLEEN SILARD | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| CARLTON HIGHSMITH | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| JAMES SMITH | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| JUDY MARKS | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| JAY WILLIAMS | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| JEFFREY SONNENFELD SR | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| RAJ RAMACHANDRAN | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| LARRY BINGAMAN | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| STACEY KENNEDY | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| ALEXANDRA DAUM | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| DONALD KENDALL JR | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| THOMAS RUTLEDGE | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 470 JAMES ST STE 9, NEW HAVEN, CT 06513-3175
- In care of
- % A SCHMITZ
- Principal officer (990 for 2024)
- JOHN W BOURDEAUX, 470 JAMES STREET 9, NEW HAVEN, CT 06513
- Signed the 990
- JOHN W BOURDEAUX, PRESIDENT AND CEO
- Phone
- (860) 571-7136
- Website
- ADVANCECT.ORG
- Return prepared by
- WHITTLESEY PC
Mission
ADVANCECT IS A PRIVATE NONPROFIT CORPORATION THAT DRIVES JOB CREATION AND NEW CAPITAL INVESTMENT IN CONNECTICUT THROUGH HIGH-IMPACT ECONOMIC DEVELOPMENT INCLUDING BUSINESS ATTRACTION, RETENTION, AND EXPANSION.
Program accomplishments
- ADVANCECT WORKS TO ENGAGE, RETAIN AND RECRUIT BUSINESSES, AND GROW THE CONNECTICUT ECONOMY FOR THE BENEFIT OF THE STATE'S COMPANIES AND RESIDENTS. IN COLLABORATION WITH THE STATE OF CONNECTICUT DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT, ADVANCECT OPERATES AS THE PLACE WHERE BUSINESS, GOVERNMENT, HIGHER EDUCATION AND NONPROFITS COME TOGETHER TO IMPLEMENT HIGH IMPACT AND INCLUSIVE ECONOMIC DEVELOPMENT SOLUTIONS TO IMPROVE QUALITY OF LIFE FOR ALL.Expenses $4,131,066 · revenue $2,747,200
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Check at the IRS |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 06-1369657
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 1994
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $3,839,337
- Income (IRS master file)
- $4,841,236
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $5,345,997 | $4,730,237 | $4,715,567 | XML |
| 990 | December 2023 | $5,035,626 | $4,722,183 | $3,903,297 | XML |
| 990 | December 2022 | $4,786,663 | $4,370,375 | $4,751,498 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 06-1369657).
Questions about CONNECTICUT ECONOMIC RESOURCE
- What is the EIN of CONNECTICUT ECONOMIC RESOURCE?
- The employer identification number (EIN) of CONNECTICUT ECONOMIC RESOURCE is 06-1369657.
- Is CONNECTICUT ECONOMIC RESOURCE tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1994.
- Are donations to CONNECTICUT ECONOMIC RESOURCE tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does CONNECTICUT ECONOMIC RESOURCE file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of CONNECTICUT ECONOMIC RESOURCE due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did CONNECTICUT ECONOMIC RESOURCE last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of CONNECTICUT ECONOMIC RESOURCE?
- The 990 for the year ended December 31, 2024 names JOHN W BOURDEAUX.
- Who are the officers and directors of CONNECTICUT ECONOMIC RESOURCE?
- The 990 for the year ended December 31, 2024 lists 29 people; 7 received compensation from the organization, the highest $271,173 (JOHN W BOURDEAUX, PRESIDENT & CEO).
- How much revenue does CONNECTICUT ECONOMIC RESOURCE have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $5,345,997, expenses of $4,730,237 and total assets of $4,715,567 at year end.
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