Nonprofit · EIN 82-3795053
CONNCORP LLC
Tax-exempt · NEW HAVEN, CT 06511
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $7,356,863 | $4,769,829 | $2,587,034 | $81,175,577 | $57,468,666 | $23,706,911 |
| December 31, 2023 | 990 | $5,587,210 | $4,236,351 | $1,350,859 | $42,277,692 | $21,157,815 | $21,119,877 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $6,433,745
- of which government grants
- $3,500,374
- Program service revenue
- $530,434
- Investment income
- $150,268
- Net rental income
- $239,454
- Other revenue
- $242,416
Expenses
- Grants and similar amounts paid
- $41,289
- Compensation of officers, directors and key employees
- $1,072,766
- Other salaries and wages
- $1,095,752
- Salaries, compensation and benefits (total)
- $2,555,333
- Professional fundraising fees
- $0
- Legal fees
- $80,374
- Accounting fees
- $152,802
- Occupancy
- $431,633
- Travel
- $4,287
- Depreciation
- $113,896
- Program services (functional)
- $3,373,346
- Management and general (functional)
- $1,336,905
- Fundraising (functional)
- $59,578
Balance sheet and other
- Total assets, start of year
- $42,277,692
- Total assets, end of year
- $81,175,577
- Total liabilities, end of year
- $57,468,666
- Net assets, end of year
- $23,706,911
- Land, buildings and equipment
- $29,948,052
- Net assets without donor restrictions
- $23,106,911
- Net assets with donor restrictions
- $600,000
- Gross receipts
- $7,423,607
- Employees
- 28
- Volunteers
- 8
- Year formed
- 2021
- 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 | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| ERIK CLEMONS | CEO / PRESIDENT & SECRETAR Trustee or director, Officer | 20 | $471,075 | $150,000 | $20,478 |
| ANNA BLANDING | CIO Officer | 40 | $261,601 | $0 | $0 |
| PAUL MCCRAVEN | VICE PRESIDENT Trustee or director, Officer | 40 | $170,039 | $0 | $11,960 |
| ANDREW ASCHETTINO | CFO Officer | 40 | $129,496 | $0 | $8,038 |
| GIDEON GEBREYESUS | VP OF FOOD SERVICES Highest-paid employee | 40 | $119,381 | $0 | $5,419 |
| ANDREA TAYLOR | HR DIRECTOR Highest-paid employee | 40 | $111,942 | $0 | $6,530 |
| JAHKEEVA K MORGAN | DIRECTOR OF THE LAB Highest-paid employee | 40 | $108,893 | $0 | $6,134 |
| IAN WILLIAMS | VP OF HOUSING Highest-paid employee | 40 | $107,885 | $0 | $4,315 |
| ELAINE ROPER | VP OF CULTURE AND COMMUNITY Highest-paid employee | 40 | $101,144 | $0 | $4,700 |
| CARLTON L HIGHSMITH | BOARD CHAIR / TREASURER Trustee or director, Officer | 3 | $0 | $0 | $0 |
| BRIDGET D'ANGELO | BOARD DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| MALCOLM ELLIS | BOARD DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| KIM HARRIS | BOARD DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| MILES LASATER | BOARD DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| JESSE PHILLIPS | BOARD DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
2 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| NINA SILVA | BOARD DIRECTOR Trustee or director | 1 | $0 |
| ALAN BOWIE | BOARD DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 19 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| ERIK CLEMONS | CEO / PRESIDENT & SECRETAR Trustee or director, Officer | 20 | $311,651 | $41,245 |
| ANDREW ASCHETTINO | CFO Officer | 40 | $205,192 | $40,068 |
| ANNA BLANDING | CIO Officer | 40 | $240,001 | $0 |
| PAUL MCCRAVEN | VICE PRESIDENT Trustee or director, Officer | 40 | $175,000 | $26,797 |
| AYA BECKLES SWANSON | EXECUTIVE DIRECTOR Highest-paid employee | 40 | $133,522 | $37,997 |
| ELAINE ROPER | VICE PRESIDENT Highest-paid employee | 40 | $101,731 | $47,057 |
| GIDEON GEBREYESUS | VICE PRESIDENT Highest-paid employee | 40 | $110,154 | $23,297 |
| ANDREA TAYLOR | HR DIRECTOR Highest-paid employee | 40 | $109,869 | $19,674 |
| IAN WILLIAMS | VICE PRESIDENT Highest-paid employee | 40 | $102,500 | $4,933 |
| CARLTON L HIGHSMITH | BOARD CHAIR / TREASURER Trustee or director, Officer | 3 | $0 | $0 |
| ALAN BOWIE | BOARD DIRECTOR Trustee or director | 1 | $0 | $0 |
| MALCOLM ELLIS | BOARD DIRECTOR Trustee or director | 1 | $0 | $0 |
| KIM HARRIS | BOARD DIRECTOR Trustee or director | 1 | $0 | $0 |
| GERALD JAYNES | BOARD DIRECTOR (LEFT 4/2023) Trustee or director | 1 | $0 | $0 |
| MILES LASATER | BOARD DIRECTOR Trustee or director | 1 | $0 | $0 |
| JESSE PHILLIPS | BOARD DIRECTOR Trustee or director | 1 | $0 | $0 |
| NINA SILVA | BOARD DIRECTOR Trustee or director | 1 | $0 | $0 |
| KAREN DUBOIS WALTON | BOARD DIRECTOR Trustee or director | 1 | $0 | $0 |
| BRIDGET D'ANGELO | BOARD DIRECTOR Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 4 SCIENCE PARK, NEW HAVEN, CT 06511-1962
- In care of
- % CONNECTICUT CENTER FOR ARTS & TEC
- Principal officer (990 for 2024)
- ERIK CLEMONS, 4 SCIENCE PARK, NEW HAVEN, CT 06511
- Signed the 990
- ERIK CLEMONS, CEO & PRESIDENT
- Phone
- (203) 823-9823
- Website
- HTTPS://CONNCORP.ORG/
- Return prepared by
- CBIZ ADVISORS LLC
Mission
OUR MISSION IS TO DRIVE ECONOMIC DEVELOPMENT AND ECONOMIC JUSTICE IN IMPOVERISHED COMMUNITIES BY INVESTING IN LOCAL COMMERCIAL AND RESIDENTIAL REAL ESTATE, AND MINORITY-OWNED BUSINESSES.OUR VISION IS TO CREATE A COMMUNITY WHERE ALL CITIZENS ARE THRIVING ECONOMICALLY, AND SOCIALLY.
Program accomplishments
- FOOD SERVICE - ORCHID HOSPITALITY CONTINUES TO PROVIDE FOOD SERVICES FOR THE LOCAL COMMUNITY THROUGH ITS CATERING COMPANY, PETAL'S MARKET, AND ORCHID CAFE. IT HAS GROWN TO A STAFF OF OVER 20 PEOPLE, MANY OF WHOM WERE TRAINED THROUGH OUR RELATED CULINARY PROGRAM.Expenses $2,117,660 · revenue $533,396
- "ECONOMIC IMPACT LAB - THE LAB HAS SUCCESSFULLY PARTNERED WITH QUINNIPIAC UNIVERSITY TO ESTABLISH A ROBUST ENTREPRENEURIAL TRAINING PROGRAM, WHICH GRADUATED 40 CLIENTS THIS PAST YEAR. THE LAB HAS ALSO HOSTED ONGOING BUSINESS RELATED SEMINARS, AND PROVIDED TECHNICAL SUPPORT THROUGH IT'S BUSINESS INCUBATOR. THE LAB WAS ALSO SUCCESSFUL IN OBTAINING A FOUR MILLION DOLLAR SBA GRANT, PRIMARILY TO COMPLETE THE RENOVATION OF TWO MORE FLOORS TO BE USED AS INCUBATOR SPACE TO MEET THE GROWINGDEMAND."Expenses $785,725
- CONNCAT PLACE ON DIXWELL - CONNCORP HAS BROKEN GROUND AND STARTED CONSTRUCTION ON THE FIRST BUILDING AS PART OF A MAJOR MIXED-USE DEVELOPMENT. THE DEVELOPMENT WILL INCLUDE A TRAINING CENTER, 184 UNITS OF HOUSING, PERFORMING ARTS CENTER, A GROCERY,VARIOUS RETAIL AND A DAYCARE CENTER.Expenses $252,410
- CONNCORP IS FOCUSED ON ECONOMIC DEVELOPMENT IN NEW HAVEN. CONNCORP WAS DESIGNED TO ADVANCE CONNCAT'S MISSION TO PROVIDE OPPORTUNITIES TO NEW HAVEN'S UNDERSERVED RESIDENTS. ADDITIONAL KEY ACTIVITIES INCLUDE THE ACQUISITION AND REVITALIZATION OF COMMERCIAL PROPERTIES AS WELL AS INVESTMENT IN NEW AND EXISTING LOCAL COMMUNITY-BASED BUSINESSES. CONNCORP ALSO SEEKS TO ATTRACT BUSINESSES TO NEW HAVEN AND, ULTIMATELY, TO CATALYZE AND SUPPORT A PLACE-BASED IMPACT INVESTING ECOSYSTEM IN THE CITY.Expenses $217,551 · grants $41,289
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 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 82-3795053
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2022
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S20)
- Assets (IRS master file)
- $81,175,577
- Income (IRS master file)
- $7,423,607
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $7,356,863 | $4,769,829 | $81,175,577 | IRS |
| 990 | December 2023 | $5,587,210 | $4,236,351 | $42,277,692 | XML |
| 990 | December 2022 | $7,168,100 | $2,823,988 | $36,784,901 | IRS |
| 990 | December 2021 | – | – | – | 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 82-3795053).
Questions about CONNCORP LLC
- What is the EIN of CONNCORP LLC?
- The employer identification number (EIN) of CONNCORP LLC is 82-3795053.
- Is CONNCORP LLC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2022.
- Are donations to CONNCORP LLC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does CONNCORP LLC 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 CONNCORP LLC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did CONNCORP LLC 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 CONNCORP LLC?
- The 990 for the year ended December 31, 2024 names ERIK CLEMONS.
- Who are the officers and directors of CONNCORP LLC?
- The 990 for the year ended December 31, 2024 lists 17 people; 9 received compensation from the organization, the highest $471,075 (ERIK CLEMONS, CEO / PRESIDENT & SECRETAR).
- How much revenue does CONNCORP LLC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $7,356,863, expenses of $4,769,829 and total assets of $81,175,577 at year end.
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All nonprofits in NEW HAVEN · Connecticut · Community improvement and capacity building