Connect Foundation is located in San Diego, CA. The organization was established in 2006. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 06/2021, Connect Foundation employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Connect Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Connect Foundation generated $1.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.6%) each year. All expenses for the organization totaled $1.4m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (8.8%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
CONNECT ELEVATES ENTREPRENEURS BY PROVIDING EDUCATIONAL PROGRAMMING, MENTORSHIP, INTRODUCTIONS, AND ACCESS TO CAPITAL. WE HELP INNOVATIVE COMPANIES THRIVE SO THEY CAN MAKE A MEANINGFUL IMPACT IN THE DEVELOPMENT OF THE SAN DIEGO REGION. WE'RE ON A MISSION TO BUILD A WORLD-CLASS INNOVATION ECONOMY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COOL COMPANIESCOOL COMPANIES PRIVATE EVENT ISAN ANNUAL PROGRAM WHERE CONNECT SELECTS THE TOP CENTURE CAPITAL-READY TECHNOLOGY AND LIFE SCIENCE COMPANIES TO BE NAMED A "COOL COMPANY". ALL THE COMPANIES' CEOS MEET INVESTORS IN A PRIVATE INVITE-ONLY EVENT WITH THE INTENTION OF SECURING FUNDING FOR THEIR COMPANY.COOL COMPANIES PUBLIC EVENT IS AN ANNUAL GATHERING FOR THE SAN DIEGO COMMUNITY TO MEET AND LEARN ABOUT EACH COOL COMPANY, AS WELL AS NETWORK, MAKE RELATIONSHIPS, AND CELEBRATE THE NEW COOL COMPANIES.
SPRINGBOARDA BUSINESS CREATION AND DEVELOPMENT PROGRAM IN WHICH BUSINESS ADVISORS PROVIDE MENTORSHIP TO NEW TECHNOLOGY COMPANIES WHO THEN PRESENT TO A PANEL OF INDUSTRY VETERANS, INVESTORS AND SERVICE PROVIDERS
CDBG/CONNECT ALLCONNECT ALL IS AN INITIATIVE FOCUSED ON INCREASING DIVERSITY AMONG ENTREPRENEURS TO BRIDGE THE GAP BETWEEN UNDERREPRESENTED GROUPS AND THE INNOVATION ECONOMY. THE ORGANIZATION IS OPERATING AS A CONTRACTOR FOR JACOB'S CENTER FOR NEIGHBORHOOD INNOVATION FOR THE OPERATION OF A BUSINESS ACCELERATOR OPERATING AGREEMENT ON PROPERTY TO BE USED FOR THE ACCELERATOR SPACE
CONNECT INNOVATION REPORTA REGIONAL QUARTERLY INDEX WHICH TRACKS THE HEALTH OF THE SAN DIEGO INNOVATION ECONOMY BY COMPARING DATA YEAR TO YEAR AND QUARTER TO QUARTER, PROVIDING A COMPARISON ACROSS TECH INDUSTRY CLUSTERS TO SELECTED REGIONS AND MONITORING AVAILABILITY OF VARIOUS TYPES OF CAPITAL. THE DATA HELPS POLICYMAKERS AND TRADE ORGANIZATIONS PLAN AND ADVOCATE EFFECTIVELY FOR INNOVATION ECONOMY INCLUDING AVAILABILITY OF VISAS AND WORKFORCE TRAINING FOR TALENT IN HIGH GROWTH CLUSTERS, BUILDING AN ATTRACTIVE ENVIRONMENT FOR CAPITAL INVESTMENT, ALLOCATION OF GRANT FUNDING, REFORM OF THE PATENT SYSTEM AND ZONING;FRAMEWORKS WORKSHOPSFRAMEWORKS WORKSHOPS ARE HALF-DAY, PROFESSIONAL DEVELOPMENT PROGRAMS STRUCTURED TO PROVIDE AN OVERVIEW OF BUSINESS BASICS THROUGH 'FUNDAMENTALS': A VOCABULARY, FOUNDATION AND 'FRAMEWORK' IN WHICH BUSINESS LEADERSHIP CAN BE BUILT AROUND, AND 'ADVANCED WORKSHOPS': A FOCUSED AND DETAILED LOOK AT SPECIALIZED AND INDUSTRY SPECIFIC TOPICS CUSTOMIZED TO FIT THE NEEDS OF A START-UP COMPANY;SBIR@CONNECTSBIR@CONNECT AIMS TO DRIVE INNOVATION AND BRING NON-DILUTIVE FUNDING TO THE INNOVATION COMMUNITY BY FOSTERING PARTNERSHIPS BETWEEN INDUSTRY AND GOVERNMENT;VENTURE OUTLOOK/VENTURE SUMMITVENTURE OUTLOOK PROVIDES A YEARLY UPDATE FROM EXPERTS ON INNOVATION, THE ECONOMY, AND INVESTING TO THE SAN DIEGO INNOVATION COMMUNITY;VENTURE SUMMIT IS A TWO-DAY CONFERENCE CONNECTING SAN DIEGO'S COMPANIES TO INVESTORS FROM ALL OVER THE COUNTRY. THE FIRST DAY FOCUSES ON SAN DIEGO LIFE-SCIENCE AND TECHNOLOGY COMPANIES IN MULTIPLE TRACKS, PITCHING TO INVESTORS FROM ALL OVER THE COUNTRY. THEN THE INVESTORS AND KEY PLAYERS FROM THE SAN DIEGO INNOVATION COMMUNITY HEAD TO A NETWORKING EVENT FOCUSED ON BUILDING RELATIONSHIPS AND ELEVATING THE SAN DIEGO ECOSYSTEM. THE SECOND DAY BRINGS IN UP-AND-COMING VENTURE CAPITALISTS FROM ALL OVER THE COUNTRY TO GIVE EDUCATIONAL TALKS. THE ATTENDEES ALSO HAVE THE CHANCE TO NETWORK AND MEET THE COMPANIES THAT PITCHED FROM THE PREVIOUS DAY. THE PROGRAM WAS SUSPENDED DURING FISCAL YEAR 2021 DUE TO COVID-19 LOCKDOWNS, BUT WILL RESUME IN FISCAL YEAR 2022;MEET A MENTORMEET A MENTOR IS A PROGRAM THAT MATCHES EARLY-STAGE COMPANIES WITH GENERALIST MENTORS TO ANSWER QUESTIONS RANGING FROM IDEAS, BUSINESS PLANS, MARKETING, AND MORE;OFFICE HOURSOFFICE HOURS PROVIDES ENTREPRENEURS AN OPPORTUNITY FOR PRIVATE, PRO BONO PROFESSIONAL ADVICE;CONNECT CAPITALCONNECT CAPITAL INTRODUCES TECHNOLOGY AND LIFE SCIENCE ENTREPRENEURS TO POTENTIAL INSTITUTIONAL INVESTORS;CEO SKI TRIP/SUMMITCEO SKI TRIP/SUMMIT IS A GATHERING OF CEOS, INVESTORS, AND ADVISORS FOCUSED ON ELEVATING THE SAN DIEGO INNOVATION SECTOR AROUND VARIOUS ACTIVITIES AND EVENTS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Mike Krenn CEO | Officer | 40 | $222,264 |
Laura Shaw COO | Officer | 40 | $133,322 |
Adam Harris Member Of Board | Trustee | 0 | $0 |
Don Rosenberg Member Of The Board | Trustee | 0 | $0 |
Ajay Nirula Member Of Board | Trustee | 0 | $0 |
Arama Kukutai Member Of Board | Trustee | 0 | $0 |
Statement of Revenue | |
---|---|
Total Revenue from Contributions, Gifts, Grants & Similar | $1,145,687 |
Investment income | $242 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $1,425,572 |
Statement of Expenses | |
---|---|
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. | $415,949 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $833,061 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $24,125 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $0 |
Office expenses | $22,562 |
Information technology | $42,579 |
Royalties | $0 |
Occupancy | $74,721 |
Travel | $1,147 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $160 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $4,621 |
Insurance | $9,101 |
All other expenses | $0 |
Total functional expenses | $1,447,084 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $1,437,389 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $260,277 |
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 | $47,134 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $1,763,046 |
Accounts payable and accrued expenses | $53,359 |
Grants payable | $0 |
Deferred revenue | $1,091,516 |
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 | $288,493 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $1,433,368 |
Net assets without donor restrictions | $0 |
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 |
Total liabilities and net assets/fund balances | $329,678 |
Over the last fiscal year, we have identified 2 grants that Connect Foundation has recieved totaling $260,000.
Awarding Organization | Amount |
---|---|
Conrad Prebys Foundation San Diego, CA PURPOSE: LIFE SCIENCES SPRINGBOARD & CAPITAL CONNECT | $250,000 |
Perkins Coie Foundation Seattle, WA PURPOSE: 2021 MEMBERSHIP | $10,000 |
Organization Name | Assets | Revenue |
---|---|---|
Live Oak A Learning Center For Children San Francisco, CA | $40,489,721 | $19,594,406 |
Biocomx Dana Point, CA | $308,692 | $15,969,949 |
Open Up Resources Menlo Park, CA | $29,661,554 | $16,279,319 |
Teach-Org Inc San Francisco, CA | $5,801,007 | $13,162,873 |
The Reason Foundation Los Angeles, CA | $15,187,245 | $16,170,727 |
San Francisco Study Center Inc San Francisco, CA | $5,230,719 | $12,852,895 |
Hoffman Institute Foundation San Rafael, CA | $2,301,194 | $11,907,757 |
Legacy Traditional School Maricopa Chandler, AZ | $18,281,409 | $11,917,984 |
Cambiar Education San Diego, CA | $11,761,927 | $15,993,046 |
Associated Students Of California State University Chico Chico, CA | $29,452,040 | $13,695,718 |
Todays Fresh Start Los Angeles, CA | $38,805,224 | $12,503,064 |
Agape Fresno, CA | $5,383,451 | $10,431,263 |