Overview
What is The Connecticut Economic Resource Center Inc?
The Connecticut Economic Resource Center Inc, identified as ADVANCECT, is a nonprofit organization situated in New Haven, Connecticut. Their primary mission is to stimulate economic growth in the state by engaging, retaining, and recruiting businesses. In collaboration with the Connecticut Department of Economic and Community Development, ADVANCECT serves as a platform where businesses, government, higher education, and nonprofits collaborate to develop innovative and inclusive economic development solutions. By implementing strategies such as business attraction, retention, and expansion, ADVANCECT aims to drive job creation and new capital investment in Connecticut, ultimately enhancing the quality of life for its residents. The organization employs a team of 27 individuals.
Official website here: www.advancect.org
Is The Connecticut Economic Resource Center Inc legitimate?
The Connecticut Economic Resource Center Inc is a legitimate nonprofit organization registered as a 501(c)(6) entity. The Connecticut Economic Resource Center Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
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Other Salaries and Wages: $2,165,935
For more financial information, click here
Official website here: www.advancect.org
What is the mission statement of The Connecticut Economic Resource Center Inc?
The Connecticut Economic Resource Center Inc, known as ADVANCECT, is a private nonprofit organization dedicated to driving economic growth in the state. Its mission is to foster job creation and attract new capital investments by implementing high-impact economic development strategies, including business attraction, retention, and expansion. ADVANCECT collaborates with various stakeholders, such as businesses, government, higher education institutions, and nonprofits, to develop inclusive economic solutions that aim to improve the quality of life for all residents. The organization's initiatives are focused on engaging, retaining, and recruiting businesses, ultimately contributing to the overall growth of the Connecticut economy.
Official website here: www.advancect.org
Who is the CEO of The Connecticut Economic Resource Center Inc?
Peter L Denious is the Director & Co-Chair of The Connecticut Economic Resource Center Inc. The CEO's salary of The Connecticut Economic Resource Center Inc is $247,432 and their total compensation is $284,760.
Official website here: www.advancect.org
What is the revenue of The Connecticut Economic Resource Center Inc?
The Connecticut Economic Resource Center Inc's revenue in 2022 was $4,786,663.
Official website here: www.advancect.org
Who are the executives of The Connecticut Economic Resource Center Inc and what are their salaries?
The average compensation at The Connecticut Economic Resource Center Inc during 2022 was $80,220. There are 27 employees at The Connecticut Economic Resource Center Inc.
Here are 24 key members and their salaries (The Connecticut Economic Resource Center Inc's CEO's salary is $247,432 and their total compensation is $284,760):
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- Compensation: $247,432
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- Compensation: $199,500
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- Compensation: $129,563
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- Other: $13,522
Official website here: www.advancect.org
Where can I find the form 990 for The Connecticut Economic Resource Center Inc?
The Connecticut Economic Resource Center Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.advancect.org
Learn more at the official website: www.advancect.org
Mission Statement of The Connecticut Economic Resource Center Inc
The Connecticut Economic Resource Center Inc, often referred to as ADVANCECT, is a private nonprofit corporation dedicated to driving job creation and attracting new capital investment in Connecticut. Their mission is centered around high-impact economic development, encompassing business attraction, retention, and expansion. By working in collaboration with the State of Connecticut Department of Economic and Community Development, ADVANCECT serves as a platform where businesses, government, higher education, and nonprofits come together to implement inclusive economic development solutions. The ultimate goal of ADVANCECT is to improve the quality of life for all Connecticut companies and residents by engaging, retaining, and recruiting businesses, thereby contributing to the growth of the state's economy.
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Impact
October, 2024
The Connecticut Economic Resource Center Inc substantially impacts the state's economy through its ADVANCECT initiative, which focuses on engaging, retaining, and recruiting businesses. By collaborating with the Connecticut Department of Economic and Community Development, it creates a synergistic environment where business, government, higher education, and community organizations converge to implement effective economic development strategies.
Through targeted efforts in business attraction, retention, and expansion, ADVANCECT drives job creation and stimulates capital investment in Connecticut. These initiatives not only enhance the economic landscape but also improve the quality of life for residents by fostering a more robust and inclusive economy. The center's commitment to high-impact and inclusive economic development ensures that the benefits of growth and innovation reach a broad spectrum of the community, ultimately working towards the collective prosperity of the state's companies and its residents.
This information is meant to be a general summary of The Connecticut Economic Resource Center Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $1,828
- Program Service Revenue: $2,400,668
- Gross Receipts: $4,786,663
Assets and Liabilities:
- Total Assets: $4,751,498
- Total Liabilities: $2,517,581
- Net Assets: $2,233,917
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONTRACTED SERVICES
Revenue
$2,218,965
REAL ESTATE SERVICES
Revenue
$181,703
Organization Details
Founding Year
1993
Phone
(860) 571-7136Principal Officer
Peter L Denious
Main Address
470 JAMES STREET 9, NEW HAVEN, CT, 06513
Website
www.advancect.orgNTEE Category
Code: S40 - Community improvement
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