Conncorp LLC
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Invests in local real estate and minority businesses to boost economic development and justice in poor communities. For fiscal year 2024 it reported $7.4M in revenue, $4.8M in expenses, and $23.7M in net assets.Pt I
Summary of the Filing
Where the work happens
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.
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Identity & Classification
Governance & Policies
Officers, Directors & Key Employees
Erik Clemons’s $471K as CEO / President & Secretar is at the 96th percentile of top reported officer pay among 2834 $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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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 | 71% | — | — |
| Overhead ratio | 28% | — | — |
| Fundraising cost ratio | 1% | — | — |
| Revenue growth | 32% | — | — |
| Legal fee ratio | 2% | — | — |
| Accounting 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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Filings & Schedule Manifest
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Sources
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