Connecticut Project INC EIN 87-2622825 Form 990 (PDF) Claim this org

Connecticut Project INC

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Improves systems and generates outcomes for a just, thriving Connecticut with opportunity for all. For fiscal year 2024 it reported $785K in revenue, $19.6M in expenses, and $4.0M in net assets.Pt I

Type
Public charity (501(c)(3)) · Community Development
Location
Ridgefield, CT
Filings
4 on file (2021–2024)
Revenue
$785KFY2024
Expenses
$19.6M
Net assets
$4.0M
People
16
Filings
4
Updates
0
More identity details & actions ⌄
EIN  87-2622825 Public charity (501(c)(3)) Ridgefield, CT
Form 990 (PDF)
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Size
$100K–1M
What they do
Improves systems and generates outcomes for a just, thriving Connecticut with opportunity for all.
Leadership
Garth Harries · President and CEO · $300K
Money in and out
$785K revenue, $19.6M expenses
Bottom line
96% program efficiency
Where the money goes · FY2024
Total revenue
$785K
Pt VIII · Ln 12
Total expenses
$19.6M
Pt IX · Ln 25
Net assets
$4.0M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$18.8M
Where spending went · Part IX cols B–D
Program services $0.96 Management & general $0.04
Program efficiency
96%
of spending reaches programs▲ +3% vs prior filing year
Operating runway
2.4mo
months of highly liquid reserves at operating expense rate▼ -92% vs prior filing year
Surplus margin
-2395%
revenue over expenses, this year▼ -248% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$785K
FY2024▼ -32%
Expenses
$19.6M
FY2024▲ +116%
Total assets
$5.1M
FY2024▼ -78%
Total liabilities
$1.1M
FY2024▲ +56%
Total revenue
$785K
Pt VIII · Ln 12
Total expenses
$19.6M
Pt IX · Ln 25
Net assets
$4.0M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$18.8M
Total assetsPt X · Ln 16$5.1M
Program-expense ratioPt IX · col B96%
Voting members of governing bodyPt I · Ln 37
Independent voting membersPt I · Ln 47

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CConnecticut Project INC
EINHdr · item D87-2622825
Principal addressHdr · item CRidgefield, CT
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MCT
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFCommunity Development (S99)
Ruling yearIRS BMFOct 2022

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a7
Independent voting membersPt VI · Ln 1b7
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
President and CEO
$300,385Pt VII · Sec A
Vice President of Investme
$234,846Pt VII · Sec A
Vice President of Advocacy
$210,349Pt VII · Sec A
Chief Administrative Offic
$195,041Pt VII · Sec A
Program Director
$176,462Pt VII · Sec A
Program Director
$170,708Pt VII · Sec A
Program Director
$167,539Pt VII · Sec A
Program Director
$152,500Pt VII · Sec A

Garth Harries’s $300K as President and CEO is at the 100th percentile of top reported officer pay among 1709 $100K–1M 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

NameFY2024FY2023FY2022FY2021
Garth Harries$300,385$238,888$275,000$78,269
Mirellise M Vazquez$234,846$205,323$195,104
Melvin Medina$210,349$82,664
Adriana a Joseph$195,041$154,832$144,712
Courtney Parkerson$176,462$158,664
Jonathan Cabral$170,708$137,033
Nordia Savage$167,539$136,690
Meghan Holden$152,500

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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Mission & Programs · Part III

Where the work happens

3 program services account for $18.7M of program spending, described in the organization's own filed words · FY2024.
01

In 2024, we invested in access to early childhood education, affordable housing, and economic OPPORTUNITY:1) early childhood EDUCATION/CHILDCARE: supporting expanding childcare incubators in five cities; building sector advocacy infrastructure; research regarding challenges to childcare access; educator professional development…

$18.7Mprogram expense
02

3) economic opportunity: making government more responsive to the people by establishing, through tobin center for economic policy, a data scientist in the CT medicaid program to better connect medicaid clients to programs and services.

Pt IX · col B
03

2) housing: supporting a pre-development revolving loan fund; data strategic planning support for a housing-focused cohort; state housing voucher study to identify areas for improvement, tenants' rights advocacy, and the implementation of a housing opportunity and capacity building organization in eastern connecticut.

Pt IX · col B

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Statement of Revenue

Part VIII
Investment income$776K · 99%
Contributions & grants$9K · 1%
Investment income99%$776K
Contributions & grants1%$9K
Total revenueLn 12$785K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.96 Management & general $0.04
Program services96%$18.7M
Management & general4%$871K
Total functional expensesLn 25$19.6M

Balance Sheet

Part X · end of year
CashLn 1$3.9M
Total assetsLn 16$5.1M
Total liabilitiesLn 26$1.1M
Total net assetsLn 32$4.0M
Months of cash on handcomputed2.4

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $3.9M · Operating expenses/yr $19.6M
2.4 months
Where the money goes
Program services
Program services $18.7M · Total expenses $19.6M
96%
Management & General
Management & general $871K · Total expenses $19.6M
4%
Fundraising
Fundraising $0 · Total expenses $19.6M
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $11.2M
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $9K · Total revenue $785K
1%
Government reliance
Government grants — · Total revenue $785K
Earned-income share
Program service revenue $0 · Total revenue $785K
0%
Investment reliance
Investment income $776K · Total revenue $785K
+99%
Program self-sufficiency
Program service revenue $0 · Total expenses $19.6M
0%
Growth & trend
Revenue growth (YoY)
This year $785K · Prior year $1.1M
-32%
Net-asset trend (YoY)
End of year $4.0M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $785K · Expenses $19.6M
-2395%
Liabilities-to-Assets
Total liabilities — · Total assets $5.1M
Net-asset ratio
Net assets $4.0M · Total assets $5.1M
78%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $5.1M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Garth Harries · Reported title PRESIDENT AND CEO · Highest reported compensation $300K · Total expenses $19.6M
2%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $2.7M · Total expenses $19.6M
14%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 96%
Overhead ratio 4%
Fundraising cost ratio 0%
Revenue growth -32%
Legal fee ratio 0.10%
Accounting fee ratio 0.2%

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.

Grants

Schedule I · received and paid
Grants received · FY2024
Zoom FoundationFY2024$12.0M
Total grants receivedfrom 1 funder$12.0M
Grants paid · 119 grants · $16.7M · 2022–2024
Yale UniversityCT · FY2024$640,000
All Our Kin INCCT · FY2024$600,000
Jobs for the Future INCMA · FY2024$370,000
Ctdata Collaborative INCCT · FY2024$350,000
The Housing Collective INCCT · FY2024$320,000
The Connecticut Project ActionCT · FY2024$300,000
Social Impact Partners INCCT · FY2024$300,000
Faithacts for Education INCCT · FY2024$275,000
Yale UniversityCT · FY2024$260,000
Yale UniversityCT · FY2024$210,000
See all 119 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$785K revenue · viewing · ⤓ 990 PDF
FY2023$1.1M revenue · ⤓ 990 PDF
FY2022$33.5M revenue · ⤓ 990 PDF
FY2021$500K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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