Va Connecticut Research And Education Foundation Inc
Va Connecticut Research And Education Foundation Inc consistently spends more than it earns, relying on substantial asset reserves.
EIN: 202206467 · West Haven, CT · NTEE: H99 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $3.1M |
| Total Expenses | $2.2M |
| Program Spending | 85% |
| Net Assets | $4.2M |
| Transparency Score | 70/100 |
Is Va Connecticut Research And Education Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Va Connecticut Research And Education Foundation Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Va Connecticut Research And Education Foundation Inc
Va Connecticut Research And Education Foundation Inc (EIN: 202206467) is a nonprofit organization based in West Haven, CT, classified under NTEE code H99. The organization reported total revenue of $3.1M and total assets of $6.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Va Connecticut Research And Education Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Va Connecticut Research And Education Foundation Inc is a mid-size 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 0.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.1M |
| Total Expenses | $2.2M |
| Surplus / Deficit | $-112,941 |
| Total Assets | $7.6M |
| Total Liabilities | $3.4M |
| Net Assets | $4.2M |
| Operating Margin | -5.4% |
| Debt-to-Asset Ratio | 44.3% |
| Months of Reserves | 41.5 months |
Financial Health Grade: B
In 2023, Va Connecticut Research And Education Foundation Inc reported a deficit of $113K with expenses exceeding revenue, holds 41.5 months of operating reserves (strong position), has a debt-to-asset ratio of 44.3% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Va Connecticut Research And Education Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 0.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +42.0% | +13.7% | +28.3% |
| 2022 | +9.3% | +12.1% | -2.0% |
| 2021 | -22.0% | -18.2% | -7.4% |
| 2020 | +0.9% | +9.7% | -7.8% |
| 2019 | +21.5% | +4.3% | -7.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| 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 Va Connecticut Research And Education Foundation Inc with a Mission Score of 70 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Va Connecticut Research And Education Foundation 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 deficit of $113K, with expenses exceeding revenue.
- Debt-to-asset ratio: 44.3%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no officers or key employees receive compensation directly from the organization, which is highly unusual for an organization of this size and suggests potential compensation through other affiliated entities or a volunteer-led executive structure.
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 Va Connecticut Research And Education Foundation Inc's IRS 990 filings:
- Consistent operational deficits, with expenses frequently exceeding revenue (e.g., $2,191,902 expenses vs. $2,078,961 revenue in 2023).
- Increasing liabilities in recent years, from $1,096,324 in 2021 to $3,357,908 in 2023, which could indicate growing financial obligations.
- Unusually high and consistent 0% officer compensation, which may obscure how leadership is compensated or sustained.
Strengths
The following positive indicators were identified for Va Connecticut Research And Education Foundation Inc:
- Substantial asset base ($7,583,512 in 2023) provides a strong financial cushion despite operational deficits.
- Consistent reporting of 0% officer compensation indicates a commitment to minimizing administrative overhead in that specific area.
- Long filing history (13 filings) suggests established operations and compliance with IRS reporting requirements.
Frequently Asked Questions about Va Connecticut Research And Education Foundation Inc
Is Va Connecticut Research And Education Foundation Inc a legitimate charity?
Va Connecticut Research And Education Foundation Inc (EIN: 202206467) is a registered tax-exempt nonprofit based in Connecticut. Our AI analysis gives it a Mission Score of 70/100. It has 13 years of IRS 990 filings on record. Total revenue: $3.1M. 3 red flags identified. 3 strengths noted. Financial health grade: B.
How does Va Connecticut Research And Education Foundation Inc spend its money?
Va Connecticut Research And Education Foundation Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Va Connecticut Research And Education Foundation Inc tax-deductible?
Va Connecticut Research And Education Foundation Inc is registered as a tax-exempt nonprofit (EIN: 202206467). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Va Connecticut Research And Education Foundation Inc's spending goes to programs?
Va Connecticut Research And Education Foundation Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Va Connecticut Research And Education Foundation Inc compare to similar nonprofits?
With a transparency score of 70/100 (Good), Va Connecticut Research And Education Foundation Inc is above average for NTEE category H99 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Va Connecticut Research And Education Foundation Inc located?
Va Connecticut Research And Education Foundation Inc is headquartered in West Haven, Connecticut and files with the IRS under EIN 202206467. It is classified under NTEE code H99.
How many years of IRS 990 filings does Va Connecticut Research And Education Foundation Inc have?
Va Connecticut Research And Education Foundation Inc 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 $3.1M in total revenue.
Is Va Connecticut Research And Education Foundation Inc a good charity?
The organization exhibits strong financial transparency regarding executive compensation (0% reported). However, its consistent operational deficits, where expenses frequently exceed revenue (e.g., $2,191,902 expenses vs. $2,078,961 revenue in 2023), raise questions about long-term financial sustainability despite substantial assets. Its NTEE code H99 suggests a focus on research and education, which is generally a positive mission.
How does the organization fund its consistent operational deficits?
Given the consistent deficits (e.g., $1,928,003 expenses vs. $1,464,306 revenue in 2022), the organization appears to be drawing down on its significant asset base, which stood at $7,583,512 in 2023, or relying on other non-operating income sources not detailed in the summary.
What is the trend in the organization's assets and liabilities?
Assets have fluctuated but generally remained strong, from $9,342,215 in 2014 to $7,583,512 in 2023. Liabilities have shown an increasing trend in recent years, rising from $1,096,324 in 2021 to $3,357,908 in 2023, which warrants further investigation.
Why is officer compensation consistently 0%?
The consistent reporting of 0% officer compensation is highly unusual for an organization with annual expenses exceeding $2 million. This could indicate that officers are volunteers, compensated by an affiliated entity, or that compensation is structured in a way not reported as 'officer compensation' on the 990 form.
Filing History
IRS 990 filing history for Va Connecticut Research And Education Foundation Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Va Connecticut Research And Education Foundation Inc's revenue has grown by 1%, moving from $2.1M to $2.1M. Total assets decreased by 23.4% over the same period, from $9.9M to $7.6M. Total functional expenses rose by 47.5%, from $1.5M to $2.2M. In its most recent filing year (2023), Va Connecticut Research And Education Foundation Inc reported a deficit of $113K, with expenses exceeding revenue. The organization holds $3.4M in liabilities against $7.6M in assets (debt-to-asset ratio: 44.3%), resulting in net assets of $4.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.1M | $2.2M | $7.6M | $3.4M | — | View 990 |
| 2022 | $1.5M | $1.9M | $5.9M | $1.6M | — | View 990 |
| 2021 | $1.3M | $1.7M | $6.0M | $1.1M | — | View 990 |
| 2020 | $1.7M | $2.1M | $6.5M | $1.2M | — | View 990 |
| 2019 | $1.7M | $1.9M | $7.1M | $1.4M | — | View 990 |
| 2018 | $1.4M | $1.8M | $7.6M | $1.7M | — | View 990 |
| 2017 | $515K | $1.3M | $7.7M | $1.3M | — | — |
| 2016 | $669K | $1.7M | $7.4M | $248K | — | View 990 |
| 2015 | $950K | $1.8M | $8.5M | $803K | — | View 990 |
| 2014 | $766K | $1.5M | $9.3M | $788K | — | View 990 |
| 2013 | $1.9M | $1.1M | $9.9M | $612K | — | View 990 |
| 2012 | $3.0M | $1.2M | $9.2M | $663K | — | View 990 |
| 2011 | $2.1M | $1.5M | $9.9M | $3.3M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.1M, expenses of $2.2M, and assets of $7.6M (revenue +42.0% year-over-year).
- 2022: Revenue of $1.5M, expenses of $1.9M, and assets of $5.9M (revenue +9.3% year-over-year).
- 2021: Revenue of $1.3M, expenses of $1.7M, and assets of $6.0M (revenue -22.0% year-over-year).
- 2020: Revenue of $1.7M, expenses of $2.1M, and assets of $6.5M (revenue +0.9% year-over-year).
- 2019: Revenue of $1.7M, expenses of $1.9M, and assets of $7.1M (revenue +21.5% year-over-year).
- 2018: Revenue of $1.4M, expenses of $1.8M, and assets of $7.6M (revenue +172.2% year-over-year).
- 2017: Revenue of $515K, expenses of $1.3M, and assets of $7.7M (revenue -23.1% year-over-year).
- 2016: Revenue of $669K, expenses of $1.7M, and assets of $7.4M (revenue -29.6% year-over-year).
- 2015: Revenue of $950K, expenses of $1.8M, and assets of $8.5M (revenue +24.1% year-over-year).
- 2014: Revenue of $766K, expenses of $1.5M, and assets of $9.3M (revenue -59.4% year-over-year).
- 2013: Revenue of $1.9M, expenses of $1.1M, and assets of $9.9M (revenue -37.6% year-over-year).
- 2012: Revenue of $3.0M, expenses of $1.2M, and assets of $9.2M (revenue +46.9% year-over-year).
- 2011: Revenue of $2.1M, expenses of $1.5M, and assets of $9.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Va Connecticut Research And Education Foundation Inc:
Data Sources and Methodology
This transparency report for Va Connecticut Research And Education Foundation 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.