Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 2022.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
71 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
17 people listed on the 990; $1.6M paid to officers and key staff.
Erik Clemons’s $471K as CEO / President & Secretar is at the 96th percentile of top reported officer pay among 2832 $1–10M community development 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 · 8 named individuals · Part VII
| Name | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|
| Erik Clemons | $471,075 | $311,651 | $267,151 | $227,747 |
| Anna Blanding | $261,601 | $240,001 | $240,001 | $210,769 |
| Andrew Aschettino | $129,496 | $205,192 | $169,039 | $53,942 |
| Paul McCraven | $170,039 | $175,000 | $168,799 | $164,214 |
| Aya Beckles Swanson | — | $133,522 | — | — |
| Gideon Gebreyesus | $119,381 | $110,154 | — | — |
| Andrea Taylor | $111,942 | $109,869 | — | — |
| Jahkeeva K Morgan | $108,893 | — | — | — |
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
Invests in local real estate and minority businesses to boost economic development and justice in poor communities.
Questions for Conncorp LLC
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Food Service
Orchid hospitality continues to provide food services for the local community through its catering company, petal's market, and orchid cafe. It has grown to a staff of over 20 people, many of whom were trained through our related culinary program.
"economic Impact Lab
The lab has successfully partnered with quinnipiac university to establish a robust entrepreneurial training program, which graduated 40 clients this past year. The lab has also hosted ongoing business related seminars, and provided technical support through it's business incubator.
Conncat Place on Dixwell
Conncorp has broken ground and started construction on the first building as part of a major mixed-use development. The development will include a training center, 184 units of housing, performing arts center, a grocery,various retail and a daycare center.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $631K | $8.8M |
| Land, buildings, equipmentLn 10c | $23.0M | $29.9M |
| Total assetsLn 16 | $42.3M | $81.2M |
| LiabilitiesLn 26 | $21.2M | $57.5M |
| Net assetsLn 32 | $21.1M | $23.7M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic individualsLn 2 | $41K | $41K | ||
| Pay of current officers, directors and key staffLn 5 | $1.1M | $1.0M | $41K | |
| Other salaries and wagesLn 7 | $1.1M | $971K | $125K | |
| Pension plan contributionsLn 8 | $25K | $25K | ||
| Other employee benefitsLn 9 | $208K | $4K | $204K | |
| Payroll taxesLn 10 | $154K | $35K | $119K | |
| Legal feesLn 11b | $80K | $38K | $43K | |
| Accounting feesLn 11c | $153K | $153K | ||
| Other fees for servicesLn 11g | $59K | $14K | $44K | |
| Advertising and promotionLn 12 | $60K | $60K | ||
| Office expensesLn 13 | $57K | $29K | $28K | |
| Information technologyLn 14 | $49K | $21K | $28K | |
| OccupancyLn 16 | $432K | $432K | ||
| TravelLn 17 | $4K | $290 | $4K | |
| InterestLn 20 | $458K | $19K | $438K | |
| Depreciation, depletion and amortizationLn 22 | $114K | $93K | $21K | |
| InsuranceLn 23 | $106K | $92K | $14K | |
| Other expenses (24a–d)Ln 24 | $602K | $552K | $50K | |
| Total functional expensesLn 25 | $4.8M | $3.4M | $1.3M | $60K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest Viewing | $7.4M | $4.8M | $2.6M | $23.7M | 990 PDF |
| FY2023 | $5.6M | $4.2M | $1.4M | $21.1M | 990 PDF |
| FY2022 | $7.2M | $2.8M | $4.3M | $19.8M | 990 PDF |
| FY2021 | $1.8M | $895K | $929K | $15.4M | 990 PDF |
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Schedules filed Part IV
See the full FY2024 990 (6 parts)
Part I · Summary $7,356,863 revenue, 12 lines filed
Part VI · Governance 8 of 10 board members independent, 1 to look at
Part VIII · Statement of revenue $7,356,863 across 9 lines filed
Part IX · Statement of functional expenses $4,769,829 across 18 lines filed
Part X · Balance sheet $81,175,577 assets, 17 lines filed
Part XI · Reconciliation of net assets $23,706,911 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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