2024-11-14T16:30:04-06:00 2023-12-31 881478669 CBIZ ADVISORS LLC 53 STATE STREET BOSTON MA 02109 990 2023-01-01 823795053 CONNCORP LLC CONN 2038239823 4 SCIENCE PARK NEW HAVEN CT 06511 ERIK CLEMONS CEO & PRESIDENT 2038239823 2024-11-14 1 1 KRISTEN CUMMINGS P01510495 6178075000 2024-11-14 2023 2024-10-15 13:58:12Z ERIK CLEMONS 4 SCIENCE PARK NEW HAVEN CT 06511 5620054 0 X HTTPS://CONNCORP.ORG/ X 2021 CT TO DRIVE ECONOMIC DEVELOPMENT AND ECONOMIC JUSTICE IN IMPOVERISHED COMMUNITIES (SEE SCH O)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. 10 8 32 8 0 0 7378638 4772565 275370 502559 0 0 -485908 312086 7168100 5587210 25000 15000 0 0 1980021 2409920 0 0 68374 818967 1811431 2823988 4236351 4344112 1350859 36784901 42277692 17015883 21157815 19769018 21119877 X 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. 0 0 820042 503683 FOOD SERVICE - ORCHID HOSPITALITY CONTINUES TO PROVIDE FOOD SERVICES FOR THE LOCAL COMMUNITY THROUGH IT'S CATERING COMPANY, PETAL'S MARKET , AND ORCHID CAF. IT HAS GROWN TO A STAFF OF OVER 20 PEOPLE, MANY OF WHICH WERE TRAINED THROUGH OUR RELATED CULINARY PROGRAM. 578770 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 $4MILLION SBA GRANT, PRIMARILY TO COMPLETE THE RENOVATION OF TWO MORE FLOORS TO BE USED AS INCUBATOR SPACE TO MEET THE GROWING DEMAND. 302975 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. 202275 15000 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. 202275 15000 1904062 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 1 27 0 1 32 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 10 8 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 0 1 1 0 CT X KEVIN BUTLER 9147556989 4 SCIENCE PARK NEW HAVEN CT 06511 CARLTON L HIGHSMITH BOARD CHAIR / TREASURER 3.00 3.00 X X 0 0 0 ERIK CLEMONS CEO / PRESIDENT & SECRETAR 20.00 20.00 X X 311651 0 41245 PAUL MCCRAVEN VICE PRESIDENT 40.00 1.00 X X 175000 0 26797 ALAN BOWIE BOARD DIRECTOR 1.00 X 0 0 0 MALCOLM ELLIS BOARD DIRECTOR 1.00 X 0 0 0 KIM HARRIS BOARD DIRECTOR 1.00 X 0 0 0 GERALD JAYNES BOARD DIRECTOR (LEFT 4/2023) 1.00 X 0 0 0 MILES LASATER BOARD DIRECTOR 1.00 X 0 0 0 JESSE PHILLIPS BOARD DIRECTOR 1.00 X 0 0 0 NINA SILVA BOARD DIRECTOR 1.00 X 0 0 0 KAREN DUBOIS WALTON BOARD DIRECTOR 1.00 X 0 0 0 BRIDGET D'ANGELO BOARD DIRECTOR 1.00 X 0 0 0 ANNA BLANDING CIO 40.00 X 240001 0 0 ANDREW ASCHETTINO CFO 40.00 X 205192 0 40068 AYA BECKLES SWANSON EXECUTIVE DIRECTOR 40.00 X 133522 0 37997 GIDEON GEBREYESUS VICE PRESIDENT 40.00 X 110154 0 23297 ANDREA TAYLOR HR DIRECTOR 40.00 X 109869 0 19674 ELAINE ROPER VICE PRESIDENT 40.00 X 101731 0 47057 IAN WILLIAMS VICE PRESIDENT 40.00 X 102500 0 4933 1489620 0 241068 9 0 1 0 0 5000 4767565 4772565 CULINARY INCOME 611710 502559 502559 502559 343806 32844 310962 310962 310962 EBT / SNAP INCOME 900099 1124 1124 1124 5587210 503683 0 310962 15000 15000 1018503 1018503 1148908 437324 711584 17083 743 16340 86150 86150 139276 31881 107395 30704 24406 6298 85075 85075 13124 1654 11470 68374 68374 437422 357202 80220 16737 2138 14599 623073 619444 3629 3740 873 2867 56182 16607 39575 91180 79567 11613 130357 103361 26996 REPAIRS AND MAINTENANCE 133223 104007 29216 PROGRAMS AND MEETINGS 122240 109855 12385 4236351 1904062 2263915 68374 791583 440163 425840 191032 579360 139902 33490 52158 41668 204303 38378 23229895 214834 19085785 23015061 16085330 17938540 36784901 42277692 589879 1238216 0 11069 404408 1895659 16021596 18012871 17015883 21157815 X 19769018 20319877 800000 19769018 21119877 36784901 42277692 1350859 0 X 0 1 X 1 0 X 1743454 7378638 4772565 13894657 1743454 7378638 4772565 13894657 11704745 2189912 37668 323826 343806 705300 1001 1124 2125 14602082 842282 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2022 AMOUNT: $ 1,001. 2023 AMOUNT: $ 1,124. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 15884051 19702 15864349 289070 158491 130579 7056774 36641 7020133 23015061 SECURITY DEPOSIT 5250 DUE FROM RELATED PARTY 17905179 RIGHT OF USE ASSETS ON LEASES - NET 28111 17938540 DUE TO RELATED PARTY 17734760 LEASE LIABILITY 28111 THIRD- PARTY FUNDS HELD 250000 18012871 X 5620054 32844 32844 5587210 0 5587210 4269195 32844 32844 4236351 0 4236351 PART X, LINE 2: BELOW IS AN EXCERPT FROM FOOTNOTE 1 OF THE AUDITED FINANCIAL STATEMENTS FOR CONNECTICUT CENTER FOR ARTS AND TECHNOLOGY AND AFFILIATES. THE CENTER HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE (IRS) AS A NOT-FOR-PROFIT CORPORATION AS DESCRIBED IN SECTION 501(C)(3) OF THE CODE AND IS EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME PURSUANT TO SECTION 501(A) OF THE CODE. IN ADDITION, THE CENTER QUALIFIES FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER CODE SECTION 170(B)(1)(A)(VI) AND HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION UNDER SECTION 170(B)(1)(A)(II). UNTIL SEPTEMBER 2021, CONNCORP AND ITS WHOLLY OWNED SUBSIDIARIES WERE TREATED AS DISREGARDED ENTITIES FOR FEDERAL INCOME TAX PURPOSES, IN ACCORDANCE WITH SINGLE MEMBER LIMITED LIABILITY COMPANY RULES. ALL TAX EFFECTS OF CONNCORP AND ITS WHOLLY OWNED SUBSIDIARIES INCOME OR LOSSES WERE PASSED THROUGH TO THE CENTER. CONNCORP APPLIED FOR AND RECEIVED TAX EXEMPTION FROM THE IRS EFFECTIVE SEPTEMBER 23, 2021. CONNCORP IS CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION UNDER SECTION 170(B)(1)(A)(VI). THE WHOLLY OWNED SUBSIDIARIES ARE TREATED AS DISREGARDED ENTITIES FOR FEDERAL INCOME TAX PURPOSES, IN ACCORDANCE WITH SINGLE MEMBER LIMITED LIABILITY COMPANY RULES. ALL TAX EFFECTS OF THE WHOLLY OWNED SUBSIDIARIES INCOME OR LOSSES ARE PASSED THROUGH TO CONNCORP. THEREFORE, NO PROVISION OR LIABILITY FOR FEDERAL INCOME TAXES IS INCLUDED WITHIN THESE CONSOLIDATED FINANCIAL STATEMENTS. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE ORGANIZATION AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2023 AND 2022, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS PENDING OR IN PROGRESS. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES NETTER WITH RENTAL INCOME 32,844. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES NETTER WITH RENTAL INCOME 32,844. 1 ECONOMIC JUSTICE FUND MINORITY BUSINESS GRANT 2 15000 PART I, LINE 2: ORGANIZATIONS SUBMIT GRANT APPLICATIONS WHICH ARE REVIEWED AND APPROVED. AFTER GRANTS ARE AWARDED, THERE ARE PERIODIC CHECK IN REQUIRMENTS. IN ADDITION, SCORE CARDS ARE PREPARED TO DETERMINE THE IMPACT OF THE GRANT. X X X 0 0 0 0 0 0 0 0 0 ERIK CLEMONS CEO / PRESIDENT & SECRETAR 311651 0 0 0 0 0 18114 0 23131 0 352896 0 0 0 PAUL MCCRAVEN VICE PRESIDENT 175000 0 0 0 0 0 7538 0 19259 0 201797 0 0 0 ANNA BLANDING CIO 240001 0 0 0 0 0 0 0 0 0 240001 0 0 0 ANDREW ASCHETTINO CFO 205192 0 0 0 0 0 9875 0 30193 0 245260 0 0 0 AYA BECKLES SWANSON EXECUTIVE DIRECTOR 133522 0 0 0 0 0 14410 0 23587 0 171519 0 0 0 X 1 40000 BOOK VALUE 0 1 0 FORM 990, PART VI, SECTION A, LINE 6 CONNECTICUT CENTER FOR ARTS & TECHNOLOGY IS THE SOLE MEMBER OF CONNCORP LLC. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBER MAY, FROM TIME TO TIME, APPOINT ONE OR MORE PERSONS TO SERVE AS MANAGER OR MANGERS, APPOINT PERSONS TO SERVE AS SUCCESSOR MANAGERS, AND TERMINATE (WITH OR WITHOUT CAUSE) THE APPPOINTMENT OF ANY SUCH PERSON (OR SUCCESSOR) AND MANAGER. FORM 990, PART VI, SECTION A, LINE 7B ONLY THE MEMBER MAY AMEND THE BYLAWS IF THE EFFECT THEREOF WOULD BE TO: (1) DIMINISH IN ANY WAY THE RIGHTS OF THE MEMBERS OR (II) CHANGE ANY OF THE RULES OF ELIGIBILITY, ADMISSION, RETENTION, WITHDRAWAL, OR EXPLUSION APPLICABLE TO MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B CONNCORP'S FORM 990 IS PREPARED WITH THE ASSISTANCE OF AN INDEPENDENT ACCOUNTING FIRM. MANAGEMENT REVIEWS THE INITIAL DRAFT OF THE RETURN. THE RETURN IS PRESENTED TO THE FINANCE COMMITTEE OF THE BOARD OF DIRECTORS. THE FORM 990 IS THEN DISTRIBUTED TO THE FULL BOARD OF DIRECTORS FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. THERE WERE NO INFRACTIONS DURING THE YEAR. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE PRESIDENT/CEO INCLUDED A REVIEW AND APPROVAL BY INDEPENDENT PERSONS, COMPARABILITY DATA AND SUBSTANTIATION OF THE DECISION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. 156-158 DIXWELL AVENUE LLC C/O CONNCAT 4 SCIENCE PARK NEW HAVEN CT 06511 824308276 COMMERCIAL REAL ESTATE PROPERTY CT 0 947067 CONNCORP LLC 180-184 DIXWELL AVENUE LLC C/O CONNCAT 4 SCIENCE PARK NEW HAVEN CT 06511 824822313 COMMERCIAL REAL ESTATE PROPERTY CT 0 553573 CONNCORP LLC 87 WEBSTER STREET LLC C/O CONNCAT 4 SCIENCE PARK NEW HAVEN CT 06511 843609508 COMMERCIAL REAL ESTATE PROPERTY CT 0 937491 CONNCORP LLC 190 DIXWELL AVENUE LLC C/O CONNCAT 4 SCIENCE PARK NEW HAVEN CT 06511 832148095 COMMERCIAL REAL ESTATE PROPERTY CT 0 163795 CONNCORP LLC 172 DIXWELL AVENUE LLC C/O CONNCAT 4 SCIENCE PARK NEW HAVEN CT 06511 834430288 COMMERCIAL REAL ESTATE PROPERTY CT 0 357205 CONNCORP LLC 206-208 DIXWELL AVENUE LLC C/O CONNCAT 4 SCIENCE PARK NEW HAVEN CT 06511 833691946 COMMERCIAL REAL ESTATE PROPERTY CT 0 753606 CONNCORP LLC 230 DIXWELL AVENUE LLC C/O CONNCAT 4 SCIENCE PARK NEW HAVEN CT 06511 850644809 COMMERCIAL REAL ESTATE PROPERTY CT 143651 1836253 CONNCORP LLC PETALS MARKET LLC C/O CONNCAT 4 SCIENCE PARK NEW HAVEN CT 06511 843506763 COMMERCIAL REAL ESTATE PROPERTY CT 141250 108817 CONNCORP LLC CONNCORP HOUSING LLC C/O CONNCAT 4 SCIENCE PARK NEW HAVEN CT 06511 851486699 COMMERCIAL REAL ESTATE PROPERTY CT 68520 770783 CONNCORP LLC CONNCORP INCUBATOR LLC C/O CONNCAT 4 SCIENCE PARK NEW HAVEN CT 06511 862883936 COMMERCIAL REAL ESTATE PROPERTY CT 562909 2861805 CONNCORP LLC 176 DIXWELL AVENUE LLC C/O CONNCAT 4 SCIENCE PARK NEW HAVEN CT 06511 871843270 COMMERCIAL REAL ESTATE PROPERTY CT 0 2705114 CONNCORP LLC 192 DIXWELL AVENUE LLC C/O CONNCAT 4 SCIENCE PARK NEW HAVEN CT 06511 863853472 COMMERCIAL REAL ESTATE PROPERTY CT 0 1360690 CONNCORP LLC 210 DIXWELL AVENUE LLC C/O CONNCAT 4 SCIENCE PARK NEW HAVEN CT 06511 863885940 COMMERCIAL REAL ESTATE PROPERTY CT 14000 540001 CONNCORP LLC 220 DIXWELL AVENUE LLC C/O CONNCAT 4 SCIENCE PARK NEW HAVEN CT 06511 863916205 COMMERCIAL REAL ESTATE PROPERTY CT 0 1568286 CONNCORP LLC CONNCORP QUALIFIED OPPORTUNITY FUND LLC C/O CONNCAT 4 SCIENCE PARK NEW HAVEN CT 06511 874046041 COMMERCIAL REAL ESTATE PROPERTY CT 0 0 CONNCORP LLC CONNECTICUT CENTER FOR ARTS & TECHNOLOGY 4 SCIENCE PARK NEW HAVEN CT 06511 451257955 EDUCATION CT 501(C)(3) LINE 2 N/A 0 0 0 0 1 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 CONNECTICUT CENTER FOR ARTS & TECHNOLOGY D 117996 FMV CONNECTICUT CENTER FOR ARTS & TECHNOLOGY K 36000 FMV CONNECTICUT CENTER FOR ARTS & TECHNOLOGY O 150000 FMV