Connecticut Business & Industry Assn Inc
- Assets
- $21.3m
- Revenue
- $5.9m
- Investments
- $0.0
- Employees
- 33
- Location
- Hartford, CT
- Founding
- 06/1938
- Data as of
- 06/2023
- EIN
- 06-0439660
Organization Overview
Connecticut Business & Industry Assn Inc, operating under the name Cbia, is located in Hartford, CT. The organization was established in 1938. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2023, Cbia employed 33 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cbia is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 06/2023, Cbia generated $5.9m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $5.7m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (1.1%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
CBIA IS THE VOICE OF BUSINESS IN CONNECTICUT, WITH THOUSANDS OF MEMBER COMPANIES CHAMPIONING CHANGE AT THE STATE CAPITOL, SHAPING DEBATE ABOUT ECONOMIC COMPETITIVENESS AND FIGHTING FOR A BETTER FUTURE FOR ALL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CBIA REPRESENTS THE INTERESTS OF ITS MEMBERS AT THE STATE CAPITOL BY EMPLOYING REGISTERED LOBBYISTS; HOSTING MEETINGS AND COMPANY TOURS TO FACILITATE COMMUNICATION BETWEEN CBIA MEMBERS AND THEIR ELECTED STATE OFFICIALS; SPONSORING EVENTS AT THE STATE CAPITOL TO HIGHLIGHT THE IMPORTANCE OF BUSINESS AND MANUFACTURING TO THE STATE'S ECONOMY; AND SPONSORING COUNCILS TO ENCOURAGE MEMBER INVOLVEMENT IN THE LEGISLATIVE PROCESS.
CBIA COMMUNICATES WITH ITS MEMBERS AND THE PUBLIC BY PUBLISHING NEWSLETTERS AND EMAIL ALERTS ON ISSUES AFFECTING BUSINESS WHILE THE STATE LEGISLATURE IS IN SESSION; USING PRINT, BROADCAST, AND SOCIAL MEDIA TO EDUCATE MEMBERS AND THE GENERAL PUBLIC ON BUSINESS-RELATED PUBLIC POLICY ISSUES; PUBLISHING ARTICLES AND OPINION PIECES IN CONNECTICUT NEWSPAPERS; AND MAINTAINING A CONTENT-RICH WEBSITE.
CBIA HELPS ITS MEMBERS COMPETE IN A GLOBAL ECONOMY BY OFFERING A FREE TELEPHONE SERVICE TO MEMBERS ON HUMAN RESOURCE AND OTHER COMPLIANCE ISSUES; SPONSORING EVENTS TO EDUCATE MEMBERS ON BUSINESS AND ECONOMIC ISSUES; PUBLISHING NEWSLETTERS ON HUMAN RESOURCE, HEALTH AND SAFETY ISSUES; AND PUBLISHING SURVEYS AND OTHER REPORTS ON ECONOMIC AND BUSINESS TOPICS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed President | OfficerTrustee | 38 | $444,265 |
Name Not Listed Vice Chair | OfficerTrustee | 2 | $0 |
Name Not Listed Vice Chair | OfficerTrustee | 2 | $0 |
Name Not Listed Chair | OfficerTrustee | 2 | $0 |
Name Not Listed Immediate Past Chair | OfficerTrustee | 2 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Intersect Public Solutions Llc Public Relations | 6/29/23 | $127,620 |
Roy & Leroy Government Relations Llc Public Relations | 6/29/23 | $106,350 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,539 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,539 |
| Total Program Service Revenue | $5,520,820 |
| Investment income | $491,688 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$115,178 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,905,869 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $909,873 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,954,095 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $485,423 |
| Payroll taxes | $217,920 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,842 |
| Fees for services: Accounting | $28,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $137,649 |
| Advertising and promotion | $448,581 |
| Office expenses | $245,437 |
| Information technology | $450,204 |
| Royalties | $0 |
| Occupancy | $358,341 |
| Travel | $30,455 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $247,386 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,962 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $5,731,477 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,884,256 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $23,559 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | -$22,291 |
| Net Land, buildings, and equipment | $2,780 |
| Investments—publicly traded securities | $13,184,169 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,247,918 |
| Total assets | $21,320,391 |
| Accounts payable and accrued expenses | $544,478 |
| Grants payable | $0 |
| Deferred revenue | $2,931,151 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,475,629 |
| Net assets without donor restrictions | $17,844,762 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $21,320,391 |