Connect Foundation
- Assets
- $2.6m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 14
- Location
- San Diego, CA
- Founding
- 04/2006
- Data as of
- 06/2023
- EIN
- 20-3049742
Organization Overview
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 06/2023, Connect Foundation employed 14 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 06/2023, Connect Foundation generated $2.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $2.2m during the year ending 06/2023. While expenses have increased by 0.2% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
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
LIFE SCIENCE LUMINARY DINNER, AN ANNUAL DINNER OF KEY PLAYERS IN THE SAN DIEGO LIFE SCIENCE COMMUNITY, TRADITIONALLY HOSTED AT THE HOME OF A SUCCESSFUL LIFE SCIENCE ENTREPRENEUR THAT MADE GREAT STRIDES IN THE LIFE SCIENCE COMMUNITY IN THE PAST YEAR. THE DINNER BRINGS IN ONLY THE TOP INNOVATORS TO BUILD RELATIONSHIPS, NETWORK, AND CELEBRATE THE SAN DIEGO LIFE SCIENCE COMMUNITY
COOL COMPANIESCOOL COMPANIES PRIVATE EVENT, AN 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, 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;VC ROAD TRIP, DURING DAY 2 OF THE COOL COMPANIES PRIVATE EVENT, VENTURE CAPITALISTS FROM ALL AROUND THE COUNTRY EMBARK ON AN OUTING, TYPICALLY SAILING, AND ARE GIVEN A TOUR OF SAN DIEGO. THE PURPOSE OF THE DAY LEARN ABOUT SAN DIEGO AND TO GROW RELATIONSHIPS BETWEEN OUT-OF-TOWN VENTURE CAPITALISTS AND THE SAN DIEGO INNOVATION COMMUNITY.
OFFICE HOURS, PROVIDES ENTREPRENEURS AN OPPORTUNITY FOR PRIVATE, PRO BONO PROFESSIONAL ADVICE;
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Adam Harris Member Of Board | Trustee | 0 | $0 |
Ajay Nirula Member Of Board | Trustee | 0 | $0 |
Arama Kukutai Member Of Board | Trustee | 0 | $0 |
Ashley Van Zeeland Member Of Board | Trustee | 0 | $0 |
Ben Williams Member Of Board | Trustee | 0 | $0 |
Bob Brower Member Of Board | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $842,475 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,263,656 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,106,131 |
| Total Program Service Revenue | $456,384 |
| Investment income | $362 |
| 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 | $2,562,877 |
| 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. | $476,287 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,165,862 |
| 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 | $63,196 |
| 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 | $34,853 |
| Information technology | $39,638 |
| Royalties | $0 |
| Occupancy | $22,424 |
| Travel | $35,653 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $16,313 |
| Interest | $7,380 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,177 |
| Insurance | $11,129 |
| All other expenses | $0 |
| Total functional expenses | $2,217,821 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,008,981 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $390,572 |
| 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 | $156,762 |
| Net Land, buildings, and equipment | $24,283 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $500 |
| Total assets | $2,581,098 |
| Accounts payable and accrued expenses | $94,234 |
| Grants payable | $0 |
| Deferred revenue | $1,184,475 |
| 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 | $1,278,709 |
| Net assets without donor restrictions | $343,481 |
| Net assets with donor restrictions | $958,908 |
| 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 | $2,581,098 |