Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 2006.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
86 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
122 people listed on the 990; $459K paid to officers and key staff.
Mike Krenn’s $216K as CEO is at the 86th percentile of top reported officer pay among 3394 $1–10M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 5 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Mike Krenn | $215,590 | $289,970 | $301,140 | $297,277 | $222,264 |
| Christie Marcella | $134,118 | $183,909 | — | — | — |
| Marcela Christie | — | — | $175,147 | $156,729 | — |
| Laura Shaw | — | — | — | $47,712 | $133,322 |
| Tre Braquet | $108,817 | — | — | — | — |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Accelerates the growth of San Diego life science and technology startups by connecting them with funding, education, mentorship, and venture capital investors.
Questions for Connect Foundation
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Innovation day (FIVE.TEN.THIRTY) was the largest gathering of the innovation community in sandiego history. Connect gathered 200 VCS, angel investors, ceos, ctos, dei leaders,national security leaders, and 160+ tech and life science companies, driving innovation acrosssan diego to continue collective momentum forward to scaling up a more…
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.
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…
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2025 990, line by line.
Download 990
| Line | Start FY25 | End FY25 |
|---|---|---|
| Cash and savingsLn 1–2 | $2.0M | $1.9M |
| Land, buildings, equipmentLn 10c | $32K | $22K |
| Total assetsLn 16 | $2.9M | $2.2M |
| LiabilitiesLn 26 | $1.5M | $906K |
| Net assetsLn 32 | $1.3M | $1.3M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $459K | $368K | $55K | $35K |
| Other salaries and wagesLn 7 | $1.1M | $922K | $137K | $88K |
| Legal feesLn 11b | $91K | $54K | $18K | $18K |
| Advertising and promotionLn 12 | $7K | $3K | $2K | $2K |
| Office expensesLn 13 | $18K | $10K | $4K | $4K |
| Information technologyLn 14 | $34K | $25K | $4K | $5K |
| OccupancyLn 16 | $32K | $24K | $5K | $3K |
| TravelLn 17 | $51K | $30K | $5K | $15K |
| Conferences, conventions and meetingsLn 19 | $26K | $23K | $3K | |
| Depreciation, depletion and amortizationLn 22 | $13K | $10K | $3K | |
| InsuranceLn 23 | $8K | $4K | $2K | $2K |
| Other expenses (24a–d)Ln 24 | $1.2M | $1.2M | $5K | $6K |
| Total functional expensesLn 25 | $3.1M | $2.7M | $263K | $182K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest Viewing | $3.1M | $3.1M | −$17K | $1.3M | 990 PDF |
| FY2024 | $2.8M | $2.8M | $36K | $1.3M | 990 PDF |
| FY2023 | $2.6M | $2.2M | $345K | $1.3M | 990 PDF |
| FY2022 | $2.7M | $2.2M | $484K | $957K | 990 PDF |
| FY2021 | $1.4M | $1.4M | −$22K | $330K | 990 PDF |
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Schedules filed Part IV
See the full FY2025 990 (6 parts)
Part I · Summary $3,094,359 revenue, 12 lines filed
Part VI · Governance 92 of 92 board members independent, no flags
Part VIII · Statement of revenue $3,094,359 across 7 lines filed
Part IX · Statement of functional expenses $3,111,063 across 12 lines filed
Part X · Balance sheet $2,228,305 assets, 13 lines filed
Part XI · Reconciliation of net assets $1,322,155 net assets at year end
Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File
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