Connecticut Project Inc
- Assets
- $31.0m
- Revenue
- $33.5m
- Investments
- $0.0
- Employees
- 8
- Location
- Bridgeport, CT
- Founding
- Data as of
- 12/2022
- EIN
- 87-2622825
Organization Overview
Connecticut Project Inc is located in Bridgeport, CT. According to its NTEE Classification (S99) the organization is classified as: Community Improvement & Capacity Building N.E.C., under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Connecticut Project Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Connecticut Project Inc 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 12/2022, Connecticut Project Inc generated $33.5m in total revenue. All expenses for the organization totaled $3.1m during the year ending 12/2022. While expenses have increased by 345.4% per year over the past 2 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
A JUST, THRIVING, AND OPTIMISTIC CT WHERE RACE, GENDER, INCOME, GEOGRAPHY, DON'T PREDETERMINE OPPORTUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BUILT OUR ORGANIZATION AND EXPLORED OUR ROLE THROUGH >200 CONVERSATIONS WITH PEOPLE AND ORGANIZATIONS ACROSS CT. ALSO:1) PUBLIC SERVICE LOAN FORGIVENESS: WORKED IN COALITION TO CONNECT OVER 7000 CONNECTICUT PUBLIC SERVANTS FROM THE GOVERNMENT, NONPROFIT, AND EDUCATIONAL SECTORS WITH MORE THAN $500M IN DEBT FORGIVENESS, $50-$75M MORE THAN CT'S NEIGHBORING STATES. 2) CHILDCARE BUSINESS INCUBATORS: FUNDED THE LAUNCH OF THE NEW BRITAIN CHILDCARE BUSINESS INCUBATOR, WHICH CATALYZED INCUBATOR PLANNING TEAMS IN ANOTHER SIX ELIGIBLE COMMUNITIES. 3) CENTER FOR HOUSING EQUITY AND OPPORTUNITY IN EASTERN CT: SUPPORTED THE CENTER'S LAUNCH TO ENHANCE CAPACITY FOR MORE AFFORDABLE HOUSING DEVELOPMENT IN EASTERN CONNECTICUT.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen F Mandel Board Chairman | OfficerTrustee | 1 | $0 |
Susan Z Mandel Board Member | Trustee | 1 | $0 |
Angelica Matos Board Member | Trustee | 1 | $0 |
Britt-Marie Cole-Johnson Secretary | OfficerTrustee | 1 | $0 |
Kerwin Charles Treasurer | OfficerTrustee | 1 | $0 |
Garth Harries President And CEO | Officer | 40 | $275,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Delivery Associates Ltd Consulting Expenses | 12/30/22 | $240,000 |
Grossman Solutions Llc Consulting Expenses | 12/30/22 | $354,200 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $33,500,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $33,500,000 |
| Total Program Service Revenue | $0 |
| Investment income | $265 |
| 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 | $33,500,265 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $738,200 |
| 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. | $467,948 |
| Compensation of current officers, directors, key employees. | $180,169 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $631,891 |
| Pension plan accruals and contributions | $22,551 |
| Other employee benefits | $113,427 |
| Payroll taxes | $77,394 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $46,945 |
| Fees for services: Accounting | $45,702 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,550 |
| Fees for services: Other | $701,649 |
| Advertising and promotion | $35,271 |
| Office expenses | $15,358 |
| Information technology | $41,000 |
| Royalties | $0 |
| Occupancy | $7,419 |
| Travel | $7,167 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,351 |
| All other expenses | $168,902 |
| Total functional expenses | $3,130,725 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $30,942,606 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $48,699 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $30,991,305 |
| Accounts payable and accrued expenses | $215,963 |
| Grants payable | $66,500 |
| Deferred revenue | $0 |
| 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 | $282,463 |
| Net assets without donor restrictions | $30,708,842 |
| 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 | $30,991,305 |
Grants Awarded
Over the last fiscal year, Connecticut Project Inc has awarded $626,000 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
THE MODERN CLASSROOMS PROJECT PURPOSE: GENERAL OPERATING GRANT TO SUPPORT THE 2022 SUMMER COHORT OF CONNECTICUT EDUCATORS | $100,000 |
YWCA NEW BRITAIN INC PURPOSE: GENERAL OPERATING GRANT TO SUPPORT THE NEW BRITAIN CHILD CARE BUSINESS INCUBATOR | $155,000 |
CONNECTICUT COMMUNITY FOUNDATION PURPOSE: DONOR ADVISED FUND GRANT FOR EMPLOYEE DISCRETIONARY AND MATCHING GRANTS | $85,000 |
STUDENT LOAN FUND INC PURPOSE: GENERAL OPERATING GRANT TO SUPPORT A CAMPAIGN TO SECURE PUBLIC SERVICE LOAN FORGIVENESS FOR AS MANY CONNECTICUT NEIGHBORS AS POSSIBLE | $167,000 |
CT COUNCIL FOR PHILANTHROPY PURPOSE: GENERAL OPERATING AND EARLY CHILDHOOD COLLABORATIVE GRANT | $12,500 |
THE CONNECTICUT PROJECT ACTION FUND INC PURPOSE: ADVOCACY AND COALITION BUILDING TO SUPPORT CIVIC ENGAGEMENT AND EARLY VOTING PASSAGE IN CONNECTICUT | $66,500 |