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Connect Foundation

EIN 20-3049742 · San Diego, CA

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthFair58 out of 100GovernanceStrong100 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

CONNECT IS AN INNOVATION INSTIGATOR ESTABLISHED TO CULTIVATE SAN DIEGO'S LIFE SCIENCE AND TECH COMMUNITIES. A TRUSTED PARTNER FOR MORE THAN 30 YEARS, WE PROPEL OUR REGION'S ENTREPRENEURS AS THEY CREATE AND SCALE THEIR COMPANIES FROM FIRST-TIME FOUNDERS TO SEASONED EXECUTIVES. WE OPERATE ACROSS DIVERSE INDUSTRY VERTICALS WITH A MINDSET DRIVEN BY INCLUSIVE SOCIAL GOOD MAKING A POSITIVE IMPACT ACROSS THE ENTIRETY OF THE MEGA-REGION. IN ELEVATING ENTREPRENEURIAL MASTERY SUCH AS PROVIDING ACCESS TO INSTITUTIONAL CAPITAL, STRATEGIC ADVISING, AND PARTNERING OPPORTUNITIES WE BRING TOGETHER OUR REGION'S CULTURE AND SPIRIT TO IGNITE OUR INNOVATION ECONOMY.

Income
$3.1 million
Spending
$3.1 million
Spent on programs
86%
Reserves
1.1 months of spending
Largest source of income
donations and private grants, 70%
Employees
15
Volunteers
30
Highest pay
$215,590, ceo

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Fair: 58 out of 100. Higher than 39% of charities in its peer group (education, $1m to $10m).

  • Reserves

    10 of 35

    Spendable reserves would cover 1.1 months of spending.

  • Debt

    10 of 20

    It owes 41% of what it owns.

  • Living within its means

    8 of 15

    Spending exceeded income by 1% of income.

  • Income trend

    15 of 15

    Income rose 9% on the year before.

  • Spending floor

    15 of 15

    86% of spending went to programs and raising each dollar of donations cost 8 cents.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 100 out of 100. Higher than 74% of charities in its peer group (education, $1m to $10m).

  • Independent board

    25 of 25

    92 of 92 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (4)
  1. $867,507 spent. 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 ROBUST AND MOREINCLUSIVE ECONOMY ACROSS THE MEGAREGION. OVER 3,000 PEOPLE ATTENDED THIS INAUGURAL EVENT. THEGOALS OF 5.10.30 ARE TO CELEBRATE COMMUNITY ADVANCEMENT, TO GENERATE INTEREST OUTSIDE OF SANDIEGO AND ATTRACT MORE TALENT TO SAN DIEGO;
  2. $258,601 spent. 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. THE DINNER BRINGS IN ONLY THE TOP INNOVATORS TO BUILD RELATIONSHIPS, NETWORK, AND CELEBRATE THE SAN DIEGO LIFE SCIENCE COMMUNITY
  3. $207,336 spent. 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, AN ANNUAL GATHERING FOR THE SAN DIEGO COMMUNITY TO MEET AND LEARN ABOUT EACH COOL COMPANY, AS WELL AS NETWORK, MAKE RELATIONSHIPS, AND CELEBRATE THE NEW COOL COMPANIES;VC ROAD TRIP, DURING DAY 2 OF THE COOL COMPANIES PRIVATE EVENT, VENTURE CAPITALISTS FROM ALL AROUND THE COUNTRY EMBARK ON AN OUTING, TYPICALLY SAILING, AND ARE GIVEN A TOUR OF SAN DIEGO. THE PURPOSE OF THE DAY LEARN ABOUT SAN DIEGO AND TO GROW RELATIONSHIPS BETWEEN OUT-OF-TOWN VENTURE CAPITALISTS AND THE SAN DIEGO INNOVATION COMMUNITY.
  4. $1.3 million spent. SPRINGBOARD, A BUSINESS CREATION AND DEVELOPMENT PROGRAM IN WHICH BUSINESS ADVISORS PROVIDEMENTORSHIP TO NEW TECHNOLOGY COMPANIES WHO THEN PRESENT TO A PANEL OF INDUSTRY VETERANS,INVESTORS AND SERVICE PROVIDERS;FRAMEWORKS WORKSHOPS, HALF-DAY, PROFESSIONAL DEVELOPMENT PROGRAMS STRUCTURED TO PROVIDE ANOVERVIEW OF BUSINESS BASICS THROUGH 'FUNDAMENTALS': A VOCABULARY, FOUNDATION AND 'FRAMEWORK' INWHICH BUSINESS LEADERSHIP CAN BE BUILT AROUND, AND 'ADVANCED WORKSHOPS': A FOCUSED ANDDETAILED LOOK AT SPECIALIZED AND INDUSTRY SPECIFIC TOPICS CUSTOMIZED TO FIT THE NEEDS OF A START-UPCOMPANY;CONNECT INNOVATION REPORT, A REGIONAL QUARTERLY INDEX WHICH TRACKS THE HEALTH OF THE SANDIEGO INNOVATION ECONOMY BY COMPARING DATA YEAR TO YEAR AND QUARTER TO QUARTER, PROVIDING ACOMPARISON ACROSS TECH INDUSTRY CLUSTERS TO SELECTED REGIONS AND MONITORING AVAILABILITY OF VARIOUSTYPES OF CAPITAL. THE DATA HELPS POLICYMAKERS AND TRADE ORGANIZATIONS PLAN AND ADVOCATEEFFECTIVELY FOR INNOVATION ECONOMY INCLUDING AVAILABILITY OF VISAS AND WORKFORCE TRAINING FOR TALENT INHIGH GROWTH CLUSTERS, BUILDING AN ATTRACTIVE ENVIRONMENT FOR CAPITAL INVESTMENT, ALLOCATION OF GRANTFUNDING, REFORM OF THE PATENT SYSTEM AND ZONING;SPRINGBOARD IMPACT REPORT, PROVIDES AN OVERVIEW OF THE COMPANIES THAT HAVE GONE THROUGH THESPRINGBOARD ACCELERATOR PROGRAM SINCE 2005 TO FOLLOW-UP ON THEIR DEVELOPMENT AND PROGRESS;VENTURE SUMMIT, A TWO-DAY CONFERENCE CONNECTING SAN DIEGO'S COMPANIES TO INVESTORS FROM ALLOVER THE COUNTRY. DAY 1 FOCUSES ON SAN DIEGO LIFE-SCIENCE AND TECHNOLOGY COMPANIES IN MULTIPLETRACKS, PITCHING TO INVESTORS FROM ALL OVER THE COUNTRY. THE INVESTORS AND KEY PLAYERS FROM THE SANDIEGO INNOVATION COMMUNITY PARTICIPATE IN A NETWORKING EVENT FOCUSED ON BUILDING RELATIONSHIPSAND ELEVATING THE SAN DIEGO ECOSYSTEM. DAY 2 BRINGS IN UP-AND-COMING VENTURE CAPITALISTS FROMALL OVER THE COUNTRY TO GIVE EDUCATIONAL TALKS;SUMMER SOCIAL, AN ANNUAL GATHERING OF SAN DIEGO ENTREPRENEURS, INNOVATORS, INVESTORS, CEOS,AND SERVICE PROVIDERS GETTING TOGETHER TO NETWORK, MAKE RELATIONSHIPS, AND CELEBRATE THEINNOVATION COMMUNITY OF SAN DIEGO. THE PROGRAM WILL RESUMED IN FISCAL YEAR 2024;CONNECT SBDC, A PROGRAM THAT MATCHES EARLY-STAGE COMPANIES WITH GENERALIST MENTORS TOANSWER QUESTIONS RANGING FROM IDEAS, BUSINESS PLANS, MARKETING, AND MORE;VC ROAD TRIP, DURING DAY 2 OF THE COOL COMPANIES PRIVATE EVENT, VENTURE CAPITALISTS FROM ALLAROUND THE COUNTRY EMBARK ON AN OUTING, TYPICALLY SAILING, AND ARE GIVEN A TOUR OF SAN DIEGO. THEPURPOSE OF THE DAY IS TO LEARN ABOUT SAN DIEGO AND TO GROW RELATIONSHIPS BETWEEN OUT-OF-TOWNVENTURE CAPITALISTS AND THE SAN DIEGO INNOVATION COMMUNITY.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending June 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since April 2006.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.