Connecticut Center For Advanced Technology Inc
Connecticut Center For Advanced Technology Inc shows significant revenue growth and no reported officer compensation, but increasing liabilities.
EIN: 201051854 · East Hartford, CT · NTEE: J03 · Updated: 2026-03-28
Is Connecticut Center For Advanced Technology Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Connecticut Center For Advanced Technology Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Connecticut Center For Advanced Technology Inc
Connecticut Center For Advanced Technology Inc (EIN: 201051854) is a nonprofit organization based in East Hartford, CT, classified under NTEE code J03. The organization reported total revenue of $22.0M and total assets of $23.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Connecticut Center For Advanced Technology Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Connecticut Center For Advanced Technology Inc is a large nonprofit that has been operating for 21 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $18.3M |
| Total Expenses | $16.8M |
| Surplus / Deficit | +$1.5M |
| Total Assets | $21.9M |
| Total Liabilities | $15.8M |
| Net Assets | $6.1M |
| Operating Margin | 8.1% |
| Debt-to-Asset Ratio | 72.0% |
| Months of Reserves | 15.6 months |
Financial Health Grade: A
In 2023, Connecticut Center For Advanced Technology Inc reported a surplus of $1.5M with revenue exceeding expenses, holds 15.6 months of operating reserves (strong position), has a debt-to-asset ratio of 72.0% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Connecticut Center For Advanced Technology Inc's revenue has grown at a compound annual growth rate (CAGR) of 2.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +82.8% | +60.5% | +34.9% |
| 2022 | +10.7% | +8.9% | +37.4% |
| 2021 | +17.4% | +21.9% | -23.5% |
| 2020 | -11.8% | -8.4% | +72.9% |
| 2019 | +11.1% | +4.3% | +18.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2005 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Connecticut Center For Advanced Technology Inc with a Mission Score of 80 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Connecticut Center For Advanced Technology Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $1.5M, with revenue exceeding expenses.
- Debt-to-asset ratio: 72.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that officers are not compensated or their compensation is reported under other categories, which is highly unusual for an organization of this size with revenues reaching over $18 million.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Connecticut Center For Advanced Technology Inc's IRS 990 filings:
- Consistently reported 0% officer compensation for an organization of this size, which is unusual and may indicate compensation is reported elsewhere or through related entities.
- Significant increase in liabilities from $3,152,221 in 2014 to $15,774,833 in 2023, which needs further context to understand its impact on financial stability.
Strengths
The following positive indicators were identified for Connecticut Center For Advanced Technology Inc:
- Strong revenue growth, with revenue increasing from $10,021,083 in 2022 to $18,320,884 in 2023, indicating successful funding and program expansion.
- Consistent operational spending, with expenses closely matching revenue, suggesting efficient use of funds for current programs (e.g., $16,828,780 expenses vs. $18,320,884 revenue in 2023).
- Significant asset growth, from $6,195,697 in 2014 to $21,896,534 in 2023, indicating an expanding resource base.
Frequently Asked Questions about Connecticut Center For Advanced Technology Inc
Is Connecticut Center For Advanced Technology Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Connecticut Center For Advanced Technology Inc (EIN: 201051854) some concerns. Mission Score: 80/100. 2 red flags identified, 3 strengths noted.
How does Connecticut Center For Advanced Technology Inc spend its money?
Connecticut Center For Advanced Technology Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Connecticut Center For Advanced Technology Inc tax-deductible?
Connecticut Center For Advanced Technology Inc is registered as a tax-exempt nonprofit (EIN: 201051854). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Connecticut Center For Advanced Technology Inc a good charity?
Based on the available data, CCAT appears to be a financially active organization with strong revenue growth and a commitment to its mission, as evidenced by its operational spending. The consistent 0% officer compensation is a significant positive for efficiency and transparency. However, the increasing liabilities warrant further investigation to fully assess its long-term financial health.
Why is officer compensation consistently reported as 0%?
The IRS 990 filings consistently show 0% officer compensation. This could mean that officers are volunteers, compensated through a related entity, or their compensation is categorized differently within the expenses. It's an unusual finding for an organization with revenues exceeding $18 million and warrants clarification from the organization.
What is the nature of the increasing liabilities?
CCAT's liabilities have grown significantly, from $3,152,221 in 2014 to $15,774,833 in 2023. While asset growth has also occurred, understanding the specific types of liabilities (e.g., program-related debt, operational loans, deferred revenue) is crucial for a complete financial assessment.
Filing History
IRS 990 filing history for Connecticut Center For Advanced Technology Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Connecticut Center For Advanced Technology Inc's revenue has grown by 28%, moving from $14.3M to $18.3M. Total assets increased by 107.8% over the same period, from $10.5M to $21.9M. Total functional expenses rose by 18.8%, from $14.2M to $16.8M. In its most recent filing year (2023), Connecticut Center For Advanced Technology Inc reported a surplus of $1.5M, with revenue exceeding expenses. The organization holds $15.8M in liabilities against $21.9M in assets (debt-to-asset ratio: 72.0%), resulting in net assets of $6.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $18.3M | $16.8M | $21.9M | $15.8M | — | — |
| 2022 | $10.0M | $10.5M | $16.2M | $11.6M | — | View 990 |
| 2021 | $9.1M | $9.6M | $11.8M | $6.7M | — | View 990 |
| 2020 | $7.7M | $7.9M | $15.5M | $9.8M | — | View 990 |
| 2019 | $8.7M | $8.6M | $8.9M | $3.1M | — | View 990 |
| 2018 | $7.9M | $8.3M | $7.5M | $1.8M | — | View 990 |
| 2017 | $15.3M | $15.3M | $9.2M | $3.0M | — | View 990 |
| 2016 | $16.3M | $14.1M | $12.1M | $5.9M | — | View 990 |
| 2015 | $16.8M | $15.9M | $8.0M | $4.1M | — | View 990 |
| 2014 | $11.3M | $11.4M | $6.2M | $3.2M | — | View 990 |
| 2013 | $14.5M | $14.2M | $7.0M | $3.9M | — | View 990 |
| 2012 | $12.8M | $12.2M | $6.7M | $3.8M | — | View 990 |
| 2011 | $14.3M | $14.2M | $10.5M | $8.2M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $18.3M, expenses of $16.8M, and assets of $21.9M (revenue +82.8% year-over-year).
- 2022: Revenue of $10.0M, expenses of $10.5M, and assets of $16.2M (revenue +10.7% year-over-year).
- 2021: Revenue of $9.1M, expenses of $9.6M, and assets of $11.8M (revenue +17.4% year-over-year).
- 2020: Revenue of $7.7M, expenses of $7.9M, and assets of $15.5M (revenue -11.8% year-over-year).
- 2019: Revenue of $8.7M, expenses of $8.6M, and assets of $8.9M (revenue +11.1% year-over-year).
- 2018: Revenue of $7.9M, expenses of $8.3M, and assets of $7.5M (revenue -48.6% year-over-year).
- 2017: Revenue of $15.3M, expenses of $15.3M, and assets of $9.2M (revenue -5.9% year-over-year).
- 2016: Revenue of $16.3M, expenses of $14.1M, and assets of $12.1M (revenue -3.2% year-over-year).
- 2015: Revenue of $16.8M, expenses of $15.9M, and assets of $8.0M (revenue +49.3% year-over-year).
- 2014: Revenue of $11.3M, expenses of $11.4M, and assets of $6.2M (revenue -22.1% year-over-year).
- 2013: Revenue of $14.5M, expenses of $14.2M, and assets of $7.0M (revenue +12.9% year-over-year).
- 2012: Revenue of $12.8M, expenses of $12.2M, and assets of $6.7M (revenue -10.5% year-over-year).
- 2011: Revenue of $14.3M, expenses of $14.2M, and assets of $10.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Connecticut Center For Advanced Technology Inc:
Data Sources and Methodology
This transparency report for Connecticut Center For Advanced Technology Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.