Conncorp LLC
Public records show a registered, tax-exempt organization in good standing.
What it says it does
OUR MISSION IS TO DRIVE ECONOMIC DEVELOPMENT AND ECONOMIC JUSTICE IN IMPOVERISHED COMMUNITIES BY INVESTING IN LOCAL COMMERCIAL AND RESIDENTIAL REAL ESTATE, AND MINORITY-OWNED BUSINESSES.OUR VISION IS TO CREATE A COMMUNITY WHERE ALL CITIZENS ARE THRIVING ECONOMICALLY, AND SOCIALLY.
- Income
- $7.4 million
- Spending
- $4.8 million
- Spent on programs
- 71%
- Reserves
- -17.2 months of spending
- Largest source of income
- government grants, 48%
- Employees
- 28
- Volunteers
- 8
- Highest pay
- $641,553, ceo / president & secretar
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Fair: 50 out of 100. Higher than 21% of charities in its peer group (community improvement, $1m to $10m).
Reserves
0 of 35Spendable reserves are negative: it owes or has committed more than it holds.
Debt
5 of 20It owes 71% of what it owns.
Living within its means
15 of 15Income exceeded spending by 35% of income.
Income trend
15 of 15Income rose 32% on the year before.
Spending floor
15 of 1571% of spending went to programs and raising each dollar of donations cost 1 cents.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Strong: 93 out of 100. Higher than 57% of charities in its peer group (community improvement, $1m to $10m).
Independent board
25 of 258 of 10 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
0 of 7Reports no written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
5 of 5Sets its chief executive's pay through independent review and comparison.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending December 31, 2024, 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)
- $2.1 million spent. 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.
- $785,725 spent. "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. THE LAB WAS ALSO SUCCESSFUL IN OBTAINING A FOUR MILLION DOLLAR SBA GRANT, PRIMARILY TO COMPLETE THE RENOVATION OF TWO MORE FLOORS TO BE USED AS INCUBATOR SPACE TO MEET THE GROWINGDEMAND."
- $252,410 spent. 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.
- $217,551 spent. CONNCORP IS FOCUSED ON ECONOMIC DEVELOPMENT IN NEW HAVEN. CONNCORP WAS DESIGNED TO ADVANCE CONNCAT'S MISSION TO PROVIDE OPPORTUNITIES TO NEW HAVEN'S UNDERSERVED RESIDENTS. ADDITIONAL KEY ACTIVITIES INCLUDE THE ACQUISITION AND REVITALIZATION OF COMMERCIAL PROPERTIES AS WELL AS INVESTMENT IN NEW AND EXISTING LOCAL COMMUNITY-BASED BUSINESSES. CONNCORP ALSO SEEKS TO ATTRACT BUSINESSES TO NEW HAVEN AND, ULTIMATELY, TO CATALYZE AND SUPPORT A PLACE-BASED IMPACT INVESTING ECOSYSTEM IN THE CITY.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
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.
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.
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.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since April 2022.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
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.