Connecticut Community Bankers Association
Connecticut Community Bankers Association: Stable Finances, Limited Program Spending
EIN: 223050651 · Glastonbury, CT · Updated: 2026-04-04
Is Connecticut Community Bankers Association Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Connecticut Community Bankers Association directs 20% of its spending to programs. This falls below the 65% benchmark. Donors may want to investigate further.
About Connecticut Community Bankers Association
Connecticut Community Bankers Association (EIN: 223050651) is a nonprofit organization based in Glastonbury, CT. The organization reported total revenue of $272K and total assets of $305K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Connecticut Community Bankers Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Connecticut Community Bankers Association is a small nonprofit that has been operating for 33 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of -0.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $277K |
| Total Expenses | $292K |
| Surplus / Deficit | $-15,521 |
| Total Assets | $437K |
| Total Liabilities | $44K |
| Net Assets | $394K |
| Operating Margin | -5.6% |
| Debt-to-Asset Ratio | 10.0% |
| Months of Reserves | 18.0 months |
Financial Health Grade: B
In 2023, Connecticut Community Bankers Association reported a deficit of $16K with expenses exceeding revenue, holds 18.0 months of operating reserves (strong position), has a debt-to-asset ratio of 10.0% (very low leverage).
Financial Trends
Over 12 years of filings (2012–2023), Connecticut Community Bankers Association's revenue has declined at a compound annual growth rate (CAGR) of -0.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -16.1% | +18.5% | +5.0% |
| 2022 | +1759.5% | +582.9% | +27.6% |
| 2021 | -86.6% | -75.0% | -5.3% |
| 2020 | -57.1% | -50.0% | -3.6% |
| 2019 | -5.0% | -20.8% | +13.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1993 |
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 Community Bankers Association with a Mission Score of 45 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 50%
- programs: 20%
- fundraising: 30%
According to IRS 990 filings, Connecticut Community Bankers Association allocates its expenses as follows: admin: 50%, programs: 20%, fundraising: 30%. Only 20% is directed toward programs, which may warrant further investigation by donors.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $16K, with expenses exceeding revenue.
- Debt-to-asset ratio: 10.0%.
Executive Compensation Analysis
Executive compensation cannot be assessed from the provided data as no specific compensation figures for executives are listed in the filings.
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 Community Bankers Association's IRS 990 filings:
- High administrative and fundraising expenses relative to program spending, with program spending estimated at only 20% of total expenses.
- Lack of detailed program descriptions or impact metrics in the provided financial data.
- Significant fluctuation in revenue over the past few years, from a low of $17,713 in 2021 to a high of $350,826 in 2016.
Strengths
The following positive indicators were identified for Connecticut Community Bankers Association:
- Consistent annual revenue generation, averaging over $250,000 in recent years.
- Maintains a healthy asset base, consistently above $300,000, indicating financial stability.
- Low or zero reported liabilities in most years, suggesting good financial management.
Frequently Asked Questions about Connecticut Community Bankers Association
Is Connecticut Community Bankers Association a legitimate charity?
Based on AI analysis of IRS 990 filings, Connecticut Community Bankers Association (EIN: 223050651) significant concerns. Mission Score: 45/100. 3 red flags identified, 3 strengths noted.
How does Connecticut Community Bankers Association spend its money?
Connecticut Community Bankers Association directs 20% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Connecticut Community Bankers Association tax-deductible?
Connecticut Community Bankers Association is registered as a tax-exempt nonprofit (EIN: 223050651). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What does Connecticut Community Bankers Association do?
Connecticut Community Bankers Association is a nonprofit organization in the Unknown sector, located in Glastonbury, Connecticut. It is classified under NTEE code Unknown.
How much revenue does Connecticut Community Bankers Association have?
Connecticut Community Bankers Association reported total revenue of $272,005. Based on 12 IRS 990 filings on record.
What are Connecticut Community Bankers Association's total assets?
Connecticut Community Bankers Association holds total assets of $305,232 as reported in IRS 990 filings.
Where is Connecticut Community Bankers Association located?
Connecticut Community Bankers Association is based in Glastonbury, Connecticut.
What is Connecticut Community Bankers Association's EIN?
Connecticut Community Bankers Association's Employer Identification Number (EIN) is 223050651. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Connecticut Community Bankers Association?
Connecticut Community Bankers Association is classified under NTEE code Unknown (Unknown).
Is Connecticut Community Bankers Association a registered 501(c)(3)?
Connecticut Community Bankers Association appears in IRS records (EIN: 223050651). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Connecticut Community Bankers Association file IRS Form 990?
Yes, Connecticut Community Bankers Association has 12 IRS Form 990 filings on record. The most recent covers tax period 202306.
What was Connecticut Community Bankers Association's revenue in 2023?
In the 202306 filing period, Connecticut Community Bankers Association reported total revenue of $276,503, total expenses of $292,024, and net assets of $437,381.
Is Connecticut Community Bankers Association's revenue growing or declining?
Connecticut Community Bankers Association's revenue is declining. Revenue went from $329,367 (202206) to $276,503 (202306), a -16.1% change. Based on 12 filings on record.
What is Connecticut Community Bankers Association's most recent 990 filing?
The most recent IRS Form 990 filing for Connecticut Community Bankers Association covers tax period 202306. It shows revenue of $276,503, expenses of $292,024, total assets of $437,381, and liabilities of $43,557.
How much does Connecticut Community Bankers Association spend on programs vs administration?
Based on IRS 990 analysis, Connecticut Community Bankers Association allocates approximately 20% of expenses to program services, 50% to administrative costs, and 30% to fundraising. Overhead costs appear high relative to program spending.
Is Connecticut Community Bankers Association a trustworthy charity?
Based on AI analysis of IRS 990 data, Connecticut Community Bankers Association shows mixed signals. Mission Score: 45/100 (Fair). 3 red flags identified. 3 strengths noted.
What are the red flags for Connecticut Community Bankers Association?
The following concerns were identified: High administrative and fundraising expenses relative to program spending, with program spending estimated at only 20% of total expenses.. Lack of detailed program descriptions or impact metrics in the provided financial data.. Significant fluctuation in revenue over the past few years, from a low of $17,713 in 2021 to a high of $350,826 in 2016.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Connecticut Community Bankers Association's strengths?
Positive indicators for Connecticut Community Bankers Association include: Consistent annual revenue generation, averaging over $250,000 in recent years.. Maintains a healthy asset base, consistently above $300,000, indicating financial stability.. Low or zero reported liabilities in most years, suggesting good financial management.. These findings are derived from AI analysis of the organization's financial filings.
How does Connecticut Community Bankers Association compensate executives?
Executive compensation cannot be assessed from the provided data as no specific compensation figures for executives are listed in the filings. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the 'Community Bankers Association' name, what specific programs or initiatives does the organization undertake to benefit the community or its member banks, beyond general advocacy or networking?
The provided data lacks specific details on program service accomplishments. While the organization likely serves its member banks through advocacy and networking, the financial filings do not elaborate on direct community benefit programs or specific initiatives that would justify program spending.
How does the organization justify its administrative and fundraising expenses, which appear to be significantly higher than its program spending, and what efforts are made to optimize these costs?
Without further information, it's difficult to ascertain the justification for the high administrative and fundraising expenses. A detailed breakdown of these costs and an explanation of their necessity for the organization's mission would be required to assess optimization efforts.
Filing History
IRS 990 filing history for Connecticut Community Bankers Association showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), Connecticut Community Bankers Association's revenue has declined by 5%, moving from $291K to $277K. Total assets increased by 333.6% over the same period, from $101K to $437K. Total functional expenses rose by 1.6%, from $287K to $292K. In its most recent filing year (2023), Connecticut Community Bankers Association reported a deficit of $16K, with expenses exceeding revenue. The organization holds $44K in liabilities against $437K in assets (debt-to-asset ratio: 10.0%), resulting in net assets of $394K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $277K | $292K | $437K | $44K | — | View 990 |
| 2022 | $329K | $246K | $416K | $7K | — | View 990 |
| 2021 | $18K | $36K | $326K | $0 | — | View 990 |
| 2020 | $132K | $144K | $345K | $0 | — | — |
| 2019 | $307K | $289K | $357K | $0 | — | View 990 |
| 2018 | $323K | $365K | $316K | $0 | — | View 990 |
| 2017 | $323K | $285K | $357K | $0 | — | View 990 |
| 2016 | $351K | $291K | $318K | $0 | — | View 990 |
| 2015 | $344K | $239K | $259K | $0 | — | View 990 |
| 2014 | $333K | $243K | $154K | $0 | — | View 990 |
| 2013 | $316K | $353K | $63K | $0 | — | View 990 |
| 2012 | $291K | $287K | $101K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $277K, expenses of $292K, and assets of $437K (revenue -16.1% year-over-year).
- 2022: Revenue of $329K, expenses of $246K, and assets of $416K (revenue +1759.5% year-over-year).
- 2021: Revenue of $18K, expenses of $36K, and assets of $326K (revenue -86.6% year-over-year).
- 2020: Revenue of $132K, expenses of $144K, and assets of $345K (revenue -57.1% year-over-year).
- 2019: Revenue of $307K, expenses of $289K, and assets of $357K (revenue -5.0% year-over-year).
- 2018: Revenue of $323K, expenses of $365K, and assets of $316K (revenue +0.1% year-over-year).
- 2017: Revenue of $323K, expenses of $285K, and assets of $357K (revenue -7.9% year-over-year).
- 2016: Revenue of $351K, expenses of $291K, and assets of $318K (revenue +2.0% year-over-year).
- 2015: Revenue of $344K, expenses of $239K, and assets of $259K (revenue +3.4% year-over-year).
- 2014: Revenue of $333K, expenses of $243K, and assets of $154K (revenue +5.4% year-over-year).
- 2013: Revenue of $316K, expenses of $353K, and assets of $63K (revenue +8.4% year-over-year).
- 2012: Revenue of $291K, expenses of $287K, and assets of $101K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Connecticut Community Bankers Association:
Data Sources and Methodology
This transparency report for Connecticut Community Bankers Association 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.