Southeastern Connecticut Enterprise Region Corporation
Southeastern Connecticut Enterprise Region Corporation: Mixed Financials, Strong Asset Base
EIN: 222973506 · Groton, CT · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $3.3M |
| Total Expenses | $2.8M |
| Program Spending | 75% |
| Net Assets | $8.2M |
| Transparency Score | 75/100 |
Is Southeastern Connecticut Enterprise Region Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Southeastern Connecticut Enterprise Region Corporation directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Southeastern Connecticut Enterprise Region Corporation
Southeastern Connecticut Enterprise Region Corporation (EIN: 222973506) is a nonprofit organization based in Groton, CT. The organization reported total revenue of $3.3M and total assets of $9.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Southeastern Connecticut Enterprise Region Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Southeastern Connecticut Enterprise Region Corporation is a mid-size nonprofit that has been operating for 37 years, with 13 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of 11.2%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $3.4M |
| Total Expenses | $2.8M |
| Surplus / Deficit | +$593K |
| Total Assets | $8.4M |
| Total Liabilities | $146K |
| Net Assets | $8.2M |
| Operating Margin | 17.3% |
| Debt-to-Asset Ratio | 1.7% |
| Months of Reserves | 35.5 months |
Financial Health Grade: A
In 2024, Southeastern Connecticut Enterprise Region Corporation reported a surplus of $593K with revenue exceeding expenses, holds 35.5 months of operating reserves (strong position), has a debt-to-asset ratio of 1.7% (very low leverage).
Financial Trends
Over 13 years of filings (2012–2024), Southeastern Connecticut Enterprise Region Corporation's revenue has grown at a compound annual growth rate (CAGR) of 11.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +84.3% | +25.0% | -3.9% |
| 2023 | -22.6% | +36.7% | +0.4% |
| 2022 | -9.9% | +5.1% | +10.6% |
| 2021 | +107.6% | +25.0% | +13.3% |
| 2020 | +12.3% | +13.4% | +2.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1989 |
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 Southeastern Connecticut Enterprise Region Corporation with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Southeastern Connecticut Enterprise Region Corporation allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $593K, with revenue exceeding expenses.
- Debt-to-asset ratio: 1.7%.
Executive Compensation Analysis
Executive compensation is not explicitly detailed in the provided data, making a specific assessment difficult without further information from their 990 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 Southeastern Connecticut Enterprise Region Corporation's IRS 990 filings:
- Significant fluctuations in revenue, from $1,127,705 in 2018 to $3,307,605 in 2024, indicate potential instability in funding streams.
- The organization reported $0 in contributions for all years provided, suggesting reliance on other revenue sources like program service fees or government grants.
Strengths
The following positive indicators were identified for Southeastern Connecticut Enterprise Region Corporation:
- Consistently strong asset base, growing from $6,753,780 in 2019 to $9,839,274 in 2024, indicating good financial health and capacity.
- Positive net assets (assets exceeding liabilities) in all reported years, demonstrating financial solvency.
- The organization has consistently managed to keep liabilities relatively low compared to assets.
Frequently Asked Questions about Southeastern Connecticut Enterprise Region Corporation
Is Southeastern Connecticut Enterprise Region Corporation a legitimate charity?
Southeastern Connecticut Enterprise Region Corporation (EIN: 222973506) is a registered tax-exempt nonprofit based in Connecticut. Our AI analysis gives it a Mission Score of 75/100. It has 13 years of IRS 990 filings on record. Total revenue: $3.3M. 2 red flags identified. 3 strengths noted. Financial health grade: A.
How does Southeastern Connecticut Enterprise Region Corporation spend its money?
Southeastern Connecticut Enterprise Region Corporation directs 75% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Southeastern Connecticut Enterprise Region Corporation tax-deductible?
Southeastern Connecticut Enterprise Region Corporation is registered as a tax-exempt nonprofit (EIN: 222973506). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Southeastern Connecticut Enterprise Region Corporation's spending goes to programs?
Southeastern Connecticut Enterprise Region Corporation directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Southeastern Connecticut Enterprise Region Corporation located?
Southeastern Connecticut Enterprise Region Corporation is headquartered in Groton, Connecticut and files with the IRS under EIN 222973506.
How many years of IRS 990 filings does Southeastern Connecticut Enterprise Region Corporation have?
Southeastern Connecticut Enterprise Region Corporation has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $3.3M in total revenue.
What does Southeastern Connecticut Enterprise Region Corporation do?
Southeastern Connecticut Enterprise Region Corporation is a nonprofit organization in the Unknown sector, located in Groton, Connecticut. It is classified under NTEE code Unknown.
How much revenue does Southeastern Connecticut Enterprise Region Corporation have?
Southeastern Connecticut Enterprise Region Corporation reported total revenue of $3,307,605. Based on 13 IRS 990 filings on record.
What are Southeastern Connecticut Enterprise Region Corporation's total assets?
Southeastern Connecticut Enterprise Region Corporation holds total assets of $9,839,274 as reported in IRS 990 filings.
Where is Southeastern Connecticut Enterprise Region Corporation located?
Southeastern Connecticut Enterprise Region Corporation is based in Groton, Connecticut.
What is Southeastern Connecticut Enterprise Region Corporation's EIN?
Southeastern Connecticut Enterprise Region Corporation's Employer Identification Number (EIN) is 222973506. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Southeastern Connecticut Enterprise Region Corporation?
Southeastern Connecticut Enterprise Region Corporation is classified under NTEE code Unknown (Unknown).
Is Southeastern Connecticut Enterprise Region Corporation a registered 501(c)(3)?
Southeastern Connecticut Enterprise Region Corporation appears in IRS records (EIN: 222973506). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Southeastern Connecticut Enterprise Region Corporation file IRS Form 990?
Yes, Southeastern Connecticut Enterprise Region Corporation has 13 IRS Form 990 filings on record. The most recent covers tax period 202406.
What was Southeastern Connecticut Enterprise Region Corporation's revenue in 2024?
In the 202406 filing period, Southeastern Connecticut Enterprise Region Corporation reported total revenue of $3,420,333, total expenses of $2,827,788, and net assets of $8,374,310.
Is Southeastern Connecticut Enterprise Region Corporation's revenue growing or declining?
Southeastern Connecticut Enterprise Region Corporation's revenue is growing. Revenue went from $1,855,907 (202306) to $3,420,333 (202406), a +84.3% change. Based on 13 filings on record.
What is Southeastern Connecticut Enterprise Region Corporation's most recent 990 filing?
The most recent IRS Form 990 filing for Southeastern Connecticut Enterprise Region Corporation covers tax period 202406. It shows revenue of $3,420,333, expenses of $2,827,788, total assets of $8,374,310, and liabilities of $145,760.
How much does Southeastern Connecticut Enterprise Region Corporation spend on programs vs administration?
Based on IRS 990 analysis, Southeastern Connecticut Enterprise Region Corporation allocates approximately 75% of expenses to program services, 15% to administrative costs, and 10% to fundraising. This indicates strong program focus.
Is Southeastern Connecticut Enterprise Region Corporation a trustworthy charity?
Based on AI analysis of IRS 990 data, Southeastern Connecticut Enterprise Region Corporation appears trustworthy. Mission Score: 75/100 (Good). 2 red flags identified. 3 strengths noted.
What are the red flags for Southeastern Connecticut Enterprise Region Corporation?
The following concerns were identified: Significant fluctuations in revenue, from $1,127,705 in 2018 to $3,307,605 in 2024, indicate potential instability in funding streams.. The organization reported $0 in contributions for all years provided, suggesting reliance on other revenue sources like program service fees or government grants.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Southeastern Connecticut Enterprise Region Corporation's strengths?
Positive indicators for Southeastern Connecticut Enterprise Region Corporation include: Consistently strong asset base, growing from $6,753,780 in 2019 to $9,839,274 in 2024, indicating good financial health and capacity.. Positive net assets (assets exceeding liabilities) in all reported years, demonstrating financial solvency.. The organization has consistently managed to keep liabilities relatively low compared to assets.. These findings are derived from AI analysis of the organization's financial filings.
How does Southeastern Connecticut Enterprise Region Corporation compensate executives?
Executive compensation is not explicitly detailed in the provided data, making a specific assessment difficult without further information from their 990 filings. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
What is the primary source of revenue for Southeastern Connecticut Enterprise Region Corporation, given the reported $0 in contributions?
Without detailed 990 forms, it's likely their revenue comes from program service fees, government grants, investment income, or other non-contribution sources, which would be critical to understand their operational model.
How does the significant increase in revenue from $1,127,705 in 2018 to $3,307,605 in 2024 impact the organization's program delivery and administrative overhead?
The substantial revenue growth suggests an expansion of activities or increased funding for existing programs. An analysis of their 990s would be needed to see if program spending scaled proportionally or if administrative costs absorbed a larger share of this growth.
Filing History
IRS 990 filing history for Southeastern Connecticut Enterprise Region Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2024), Southeastern Connecticut Enterprise Region Corporation's revenue has grown by 256.7%, moving from $959K to $3.4M. Total assets increased by 1.1% over the same period, from $8.3M to $8.4M. Total functional expenses rose by 183.3%, from $998K to $2.8M. In its most recent filing year (2024), Southeastern Connecticut Enterprise Region Corporation reported a surplus of $593K, with revenue exceeding expenses. The organization holds $146K in liabilities against $8.4M in assets (debt-to-asset ratio: 1.7%), resulting in net assets of $8.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $3.4M | $2.8M | $8.4M | $146K | — | View 990 |
| 2023 | $1.9M | $2.3M | $8.7M | $701K | — | View 990 |
| 2022 | $2.4M | $1.7M | $8.7M | $260K | — | View 990 |
| 2021 | $2.7M | $1.6M | $7.8M | $175K | — | View 990 |
| 2020 | $1.3M | $1.3M | $6.9M | $338K | — | View 990 |
| 2019 | $1.1M | $1.1M | $6.8M | $189K | — | View 990 |
| 2018 | $1.1M | $1.1M | $7.0M | $464K | — | View 990 |
| 2017 | $1.1M | $1.1M | $7.3M | $768K | — | View 990 |
| 2016 | $1.2M | $1.2M | $7.5M | $980K | — | View 990 |
| 2015 | $1.2M | $1.3M | $6.8M | $199K | — | View 990 |
| 2014 | $1.1M | $1.5M | $6.9M | $202K | — | View 990 |
| 2013 | $1.1M | $1.1M | $7.3M | $220K | — | View 990 |
| 2012 | $959K | $998K | $8.3M | $1.2M | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $3.4M, expenses of $2.8M, and assets of $8.4M (revenue +84.3% year-over-year).
- 2023: Revenue of $1.9M, expenses of $2.3M, and assets of $8.7M (revenue -22.6% year-over-year).
- 2022: Revenue of $2.4M, expenses of $1.7M, and assets of $8.7M (revenue -9.9% year-over-year).
- 2021: Revenue of $2.7M, expenses of $1.6M, and assets of $7.8M (revenue +107.6% year-over-year).
- 2020: Revenue of $1.3M, expenses of $1.3M, and assets of $6.9M (revenue +12.3% year-over-year).
- 2019: Revenue of $1.1M, expenses of $1.1M, and assets of $6.8M (revenue +1.1% year-over-year).
- 2018: Revenue of $1.1M, expenses of $1.1M, and assets of $7.0M (revenue -0.2% year-over-year).
- 2017: Revenue of $1.1M, expenses of $1.1M, and assets of $7.3M (revenue -1.8% year-over-year).
- 2016: Revenue of $1.2M, expenses of $1.2M, and assets of $7.5M (revenue -5.4% year-over-year).
- 2015: Revenue of $1.2M, expenses of $1.3M, and assets of $6.8M (revenue +14.1% year-over-year).
- 2014: Revenue of $1.1M, expenses of $1.5M, and assets of $6.9M (revenue -4.3% year-over-year).
- 2013: Revenue of $1.1M, expenses of $1.1M, and assets of $7.3M (revenue +16.1% year-over-year).
- 2012: Revenue of $959K, expenses of $998K, and assets of $8.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Southeastern Connecticut Enterprise Region Corporation:
Data Sources and Methodology
This transparency report for Southeastern Connecticut Enterprise Region Corporation 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.