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Connect Foundation

Learn about this cause: What are the reviews? Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 203049742 ✦ San diego, CA ✦ Designated as a 501(c)(3)

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Overview

What is Connect Foundation?

Connect Foundation is a nonprofit organization based in San Diego, California, specifically at 9605 Scranton Road 110. Its primary mission is to elevate entrepreneurs within the life science and tech communities of the region by providing educational programming, mentorship, introductions, and access to capital. The foundation aims to help innovative companies thrive, ultimately making a meaningful impact on San Diego's development. Established over three decades ago, Connect Foundation serves as a trusted partner, fostering a world-class innovation economy by supporting entrepreneurs from their early stages to seasoned executives. The organization operates across various industry verticals, driven by an inclusive social good mindset, aiming to make a positive impact across the entire megaregion. With a workforce of 14 individuals, Connect Foundation plays a significant role in igniting San Diego's innovation economy.


Official website here: www.connect.org

What are the reviews and ratings of this charity?

Charity Navigator Rating: 91% - Four-Star out of Four Star rating from Charity Navigator.

Connect Foundation has earned a strong Four-Star rating from Charity Navigator, indicating effective management and accountability in its operations. With an Accountability & Finance Score of 91, the foundation demonstrates a high level of transparency and commitment to ethical practices, as evidenced by 100% independent board members and no material diversion of assets.

The organization excels in its financial efficiency, showcasing a program expense ratio of 77.81%, meaning a significant portion of its funds is directed towards its programs rather than administrative costs. Additionally, its fundraising efficiency is commendable, with just $0.10 spent to raise each dollar, indicating a well-managed funding strategy.

Despite its strengths, the working capital ratio of 0.67 years suggests a potential area for improvement in liquidity management. Overall, Connect Foundation's robust governance and high operational standards position it as a trustworthy nonprofit with a solid track record of financial responsibility.


This AI summary has been generated from information found on Charity Navigator.

Is Connect Foundation legitimate?

Connect Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Connect Foundation 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: $473,879
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,248,579

For more financial information, click here


Official website here: www.connect.org

What is the mission statement of Connect Foundation?

The Connect Foundation's mission is to foster entrepreneurship by offering educational programming, mentorship, introductions, and access to capital. Their goal is to help innovative companies thrive, enabling them to make a significant impact in various sectors. Established as an innovation instigator, Connect Foundation supports entrepreneurs, from first-time founders to seasoned executives, as they grow their companies. Operating across diverse industry verticals, the foundation is driven by a mindset centered on inclusive social good, aiming to make a positive impact across the entirety of the region. By providing access to institutional capital, strategic advising, and partnering opportunities, Connect Foundation brings together the region's culture and spirit to ignite its innovation economy.


Official website here: www.connect.org

Who is the CEO of Connect Foundation?

Mike Krenn is the CEO of Connect Foundation The CEO's salary of Connect Foundation is $289,970 and their total compensation is $289,970.


Official website here: www.connect.org

What is the revenue of Connect Foundation?

Connect Foundation's revenue in 2024 was $2,827,352.


Official website here: www.connect.org

Who are the executives of Connect Foundation and what are their salaries?

The average compensation at Connect Foundation during 2024 was $114,831. There are 15 employees and 30 volunteers at Connect Foundation.

Here are 121 key members and their salaries (Connect Foundation's CEO's salary is $289,970 and their total compensation is $289,970):


Adam Harris (Member Of Board)
  • Compensation: $0
  • Related: $0
  • Other: $0
Ajay Nirula (Member Of Board)
  • Compensation: $0
  • Related: $0
  • Other: $0
Al Guerrerro (Member Of Board)
  • Compensation: $0
  • Related: $0
  • Other: $0
Al Pisano (Member Of Board)
  • Compensation: $0
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  • Other: $0
Alan Cole (Member Of Board)
  • Compensation: $0
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  • Other: $0
Alison Budelsky (Member Of Board)
  • Compensation: $0
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  • Other: $0
Amit Singh (Member Of Board)
  • Compensation: $0
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  • Other: $0
Andrew Viterbi (Member Of Board)
  • Compensation: $0
  • Related: $0
  • Other: $0
Ashley Van Zeeland (Co-Vice Chair)
  • Compensation: $0
  • Related: $0
  • Other: $0
Austin Taylor (Member Of Board)
  • Compensation: $0
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  • Other: $0
Ben Gamboa (Member Of Board)
  • Compensation: $0
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  • Other: $0
Bob Weaver (Member Of Board)
  • Compensation: $0
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  • Other: $0
Brad Chisum (Member Of Board)
  • Compensation: $0
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  • Other: $0
Bruce Rucks (Treasurer)
  • Compensation: $0
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  • Other: $0
Bryan Knox (Member Of Board)
  • Compensation: $0
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  • Other: $0
Buzz Woolley (Member Of Board)
  • Compensation: $0
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  • Other: $0
Cathy Pucher (Member Of Board)
  • Compensation: $0
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  • Other: $0
Christian Salaman (Member Of Board)
  • Compensation: $0
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  • Other: $0
Christina Bibler (Member Of Board)
  • Compensation: $0
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  • Other: $0
Colin Parker (Member Of Board)
  • Compensation: $0
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  • Other: $0
Corinne Peek-Asa (Member Of Board)
  • Compensation: $0
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  • Other: $0
Craig Golding (Member Of Board)
  • Compensation: $0
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Craig Knox (Member Of Board)
  • Compensation: $0
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Dan Pegg (Member Of Board)
  • Compensation: $0
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  • Other: $0
Danny Fitzgerald (Member Of Board)
  • Compensation: $0
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  • Other: $0
David Crean (Member Of Board)
  • Compensation: $0
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David Hale (Member Of Board)
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David Weitz (Member Of Board)
  • Compensation: $0
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Deepa M Rich (Member Of Board)
  • Compensation: $0
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Dena Marrinucci (Member Of Board)
  • Compensation: $0
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Denise Bevers (Member Of Board)
  • Compensation: $0
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Dick Atkinson (Member Of Board)
  • Compensation: $0
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Don Rosenberg (Member Of Board)
  • Compensation: $0
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Doug Winter (Member Of Board)
  • Compensation: $0
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  • Other: $0
Ed Bryant (Member Of Board)
  • Compensation: $0
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  • Other: $0
Emily Hill (Member Of Board)
  • Compensation: $0
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  • Other: $0
Enoch Kariuki (Member Of Board)
  • Compensation: $0
  • Related: $0
  • Other: $0
Eric Otterson (Co-Vice Chair)
  • Compensation: $0
  • Related: $0
  • Other: $0
Erik Caldwell (Member Of Board)
  • Compensation: $0
  • Related: $0
  • Other: $0
Fernando Valero (Member Of Board)
  • Compensation: $0
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  • Other: $0
Francois Ferre (Member Of Board)
  • Compensation: $0
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  • Other: $0
Gene Ray (Member Of Board)
  • Compensation: $0
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  • Other: $0
Grant Olsen (Member Of Board)
  • Compensation: $0
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Greg Trueblood (Member Of Board)
  • Compensation: $0
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Hala Madanat (Member Of Board)
  • Compensation: $0
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Irwin Jacobs (Member Of Board)
  • Compensation: $0
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  • Other: $0
Ivor Royston (Member Of Board)
  • Compensation: $0
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  • Other: $0
J Robert Beyester (Member Of Board)
  • Compensation: $0
  • Related: $0
  • Other: $0
James Mackay (Co-Vice Chair)
  • Compensation: $0
  • Related: $0
  • Other: $0
Jason Anderson (Member Of Board)
  • Compensation: $0
  • Related: $0
  • Other: $0
Jason Halac (Member Of Board)
  • Compensation: $0
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  • Other: $0
Jeff Simpson (Member Of Board)
  • Compensation: $0
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  • Other: $0
Jeremy Glaser (Member Of Board)
  • Compensation: $0
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Jeremy Schmidt (Member Of Board)
  • Compensation: $0
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  • Other: $0
Jill Collins (Member Of Board)
  • Compensation: $0
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  • Other: $0
Joe Strain (Member Of Board)
  • Compensation: $0
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  • Other: $0
John Dunn (Member Of Board)
  • Compensation: $0
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John Naviaux (Member Of Board)
  • Compensation: $0
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Kate Broderick (Member Of Board)
  • Compensation: $0
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Kevin Meissner (Member Of Board)
  • Compensation: $0
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Killu Sanborn (Member Of Board)
  • Compensation: $0
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Kim Kamdar (Member Of Board)
  • Compensation: $0
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Kirt Shuldberg (Member Of Board)
  • Compensation: $0
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Kristina Hess (Member Of Board)
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Lea Rudee (Member Of Board)
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Linden Blue (Member Of Board)
  • Compensation: $0
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Magda Marquet (Member Of Board)
  • Compensation: $0
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Malin Burnham (Member Of Board)
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Marco Barraza (Member Of Board)
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Mark Cafferty (Member Of Board)
  • Compensation: $0
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Mark Spring (Member Of Board)
  • Compensation: $0
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Mark Wicker (Member Of Board)
  • Compensation: $0
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  • Other: $0
Mary Walshok (Member Of Board)
  • Compensation: $0
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  • Other: $0
Matt Browne (Member Of Board)
  • Compensation: $0
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  • Other: $0
Matt Sanford (Member Of Board)
  • Compensation: $0
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Matthieu Rouffet (Member Of Board)
  • Compensation: $0
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  • Other: $0
Michael Casler (Member Of Board)
  • Compensation: $0
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  • Other: $0
Michael Umansky (Member Of Board)
  • Compensation: $0
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Mike Faddoul (Member Of Board)
  • Compensation: $0
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Mike Howard (Member Of Board)
  • Compensation: $0
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Mike Kinkelaar (Member Of Board)
  • Compensation: $0
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  • Other: $0
Mitch Clawson (Member Of Board)
  • Compensation: $0
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  • Other: $0
Neal Blue (Member Of Board)
  • Compensation: $0
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Nick Mourlas (Member Of Board)
  • Compensation: $0
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Patty Holman (Member Of Board)
  • Compensation: $0
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Paul Johnson (Member Of Board)
  • Compensation: $0
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Paul Roben (Member Of Board)
  • Compensation: $0
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Peter Farrell (Member Of Board)
  • Compensation: $0
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Peter Preuss (Member Of Board)
  • Compensation: $0
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Peter Westlake (Member Of Board)
  • Compensation: $0
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Phil Jelsma (Member Of Board)
  • Compensation: $0
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Pradeep Khosla (Member Of Board)
  • Compensation: $0
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Quinn Li (Member Of Board)
  • Compensation: $0
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Ramesh Rao (Member Of Board)
  • Compensation: $0
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Randy Socol (Member Of Board)
  • Compensation: $0
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Rick Valencia (Member Of Board)
  • Compensation: $0
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Ron Taylor (Member Of Board)
  • Compensation: $0
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Ryan Melnick (Member Of Board)
  • Compensation: $0
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  • Other: $0
Sam Najewicz (Member Of Board)
  • Compensation: $0
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  • Other: $0
Sarah Hibbard (Member Of Board)
  • Compensation: $0
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Scot Ginsburg (Member Of Board)
  • Compensation: $0
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Scott Foote (Member Of Board)
  • Compensation: $0
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  • Other: $0
Scott Gross (Member Of Board)
  • Compensation: $0
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  • Other: $0
Sergio Duron (Member Of Board)
  • Compensation: $0
  • Related: $0
  • Other: $0
Shelly Sutphen (Member Of Board)
  • Compensation: $0
  • Related: $0
  • Other: $0
Stath Karras (Member Of Board)
  • Compensation: $0
  • Related: $0
  • Other: $0
Stephane Shu Kin So (Member Of Board)
  • Compensation: $0
  • Related: $0
  • Other: $0
Steve Chinowsky (Member Of Board)
  • Compensation: $0
  • Related: $0
  • Other: $0
Stuart Starr (Member Of Board)
  • Compensation: $0
  • Related: $0
  • Other: $0
Sunita Cooke (Member Of Board)
  • Compensation: $0
  • Related: $0
  • Other: $0
Ted Greene (Member Of Board)
  • Compensation: $0
  • Related: $0
  • Other: $0
Tess Sangster (Member Of Board)
  • Compensation: $0
  • Related: $0
  • Other: $0
Todd Poling (Member Of Board)
  • Compensation: $0
  • Related: $0
  • Other: $0
Trevor Walker (Member Of Board)
  • Compensation: $0
  • Related: $0
  • Other: $0
Tyler Orion (Member Of Board)
  • Compensation: $0
  • Related: $0
  • Other: $0
Victoria Ashton (Member Of Board)
  • Compensation: $0
  • Related: $0
  • Other: $0
Walter Zable (Member Of Board)
  • Compensation: $0
  • Related: $0
  • Other: $0
William J Rastetter (Member Of Board)
  • Compensation: $0
  • Related: $0
  • Other: $0
Zach Myers (Member Of Board)
  • Compensation: $0
  • Related: $0
  • Other: $0
Christie Marcella (Coo)
  • Compensation: $183,909
  • Related: $0
  • Other: $0
Mike Krenn (Ceo)
  • Compensation: $289,970
  • Related: $0
  • Other: $0


Official website here: www.connect.org

Where can I find the form 990 for Connect Foundation?

Connect Foundation's most recent form 990 was submitted in 2024 and can be accessed here.


Official website here: www.connect.org

Learn more at the official website: www.connect.org

Mission Statement of Connect Foundation

The Connect Foundation, as an innovation instigator, is dedicated to elevating San Diego's entrepreneurial landscape. Established over three decades ago, this organization serves as a trusted partner, supporting pioneers in the life science and tech communities as they navigate the journey from budding entrepreneurs to seasoned executives. The Connect Foundation operates across various industry verticals, fostering an inclusive social good ethos that aims to create a positive impact across the entire innovation ecosystem.

In pursuit of its mission, the Connect Foundation provides a range of services designed to nurture entrepreneurial mastery. By offering access to institutional capital, strategic advising, and partnering opportunities, the organization brings together the region's culture and spirit to ignite the innovation economy. The Connect Foundation serves as a beacon of support, guiding entrepreneurs through the challenges of scaling their companies, from inception to maturity. Ultimately, the Connect Foundation's mission is to build a world-class innovation economy, enabling innovative companies to thrive and make meaningful contributions to the development of their respective communities.

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Impact



October, 2024

Connect Foundation significantly impacts the entrepreneurial landscape in San Diego by fostering an environment where innovative companies can thrive. Through comprehensive educational programming, mentorship, and strategic introductions, it empowers entrepreneurs from various backgrounds, helping them scale their businesses and contribute meaningfully to the local economy.

One of its hallmark events, the Life Science Luminary Dinner, exemplifies its influence by gathering key players in the life science sector. This annual event not only celebrates achievements but also strengthens relationships among top innovators, promoting collaboration within the community.

With over 30 years of experience, Connect Foundation acts as a catalyst for growth across diverse industry verticals, ensuring that both first-time founders and seasoned executives have access to critical resources such as capital and expert guidance. Its commitment to inclusive social good extends the benefits of entrepreneurial success throughout the entire region, making a lasting positive impact on San Diego's innovation economy.



This information is meant to be a general summary of Connect Foundation. 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.

Revenue
$2,827,352 (2024)
20112012201320142015201620172018201920202021202220232024$0$900k$1.8M$2.7M$3.6M
Expenses
$2,790,882 (2024)
20112012201320142015201620172018201920202021202220232024$0$800k$1.6M$2.4M$3.2M
Efficiency
201120122013201420152016201720182019202020212022202320240%20%40%60%88%

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2024.

  • Investment Income: $29,340
  • Program Service Revenue: $967,944
  • Gross Receipts: $2,827,352

Assets and Liabilities:

  • Total Assets: $2,581,098
  • Total Liabilities: $1,278,709
  • Net Assets: $1,302,389

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Programs

Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

UNDERWRITING

Revenue

$565,314

PROGRAM FEES

Revenue

$402,630

Organization Details

Founding Year

2005

Phone

(858) 964-1300

Principal Officer

Mike Krenn

Main Address

9605 SCRANTON ROAD 110, SAN DIEGO, CA, 92121

Website

www.connect.org

NTEE Category

Code: B90 - Education

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