Connect Foundation
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Accelerates the growth of San Diego life science and technology startups by connecting them with funding, education, mentorship, and venture capital investors. For fiscal year 2025 it reported $3.1M in revenue, $3.1M in expenses, and $1.3M in net assets.Pt I
Summary of the Filing
Where the work happens
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…
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Identity & Classification
Governance & Policies
Officers, Directors & Key Employees
Mike Krenn’s $216K as CEO is at the 86th percentile of top reported officer pay among 3392 $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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Statement of Revenue
Statement of Functional Expenses
Balance Sheet
Financial Metrics
Same NTEE category, revenue band, and state where available. Descriptive — not a grade.
| Metric | This org | Peer median | Percentile |
|---|---|---|---|
| Program ratio | 86% | — | — |
| Overhead ratio | 8% | — | — |
| Fundraising cost ratio | 8% | — | — |
| Revenue growth | 9% | — | — |
| Legal fee ratio | 3% | — | — |
Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.
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