Connecticut Business and Industry … - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1910

Legal Domicile

Phone

8602441900

Tax Period

2024-07-01 to 2025-06-30

Connecticut Business and Industry Association Inc, founded in 1910, is a community nonprofit that reported $7.2M in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $6.1M left a modest 15% surplus.

Mission

CBIA is the voice of business in Connecticut, with thousands of member companies championing change at the State Capitol, shaping debate about economic competitiveness and fighting for a better future for all.

Program Service Accomplishments

Program 1

CBIA represents the interests of its members at the state capitol by employing registered lobbyists; hosting meetings and company tours to facilitate communication between CBIA members and their...

CBIA represents the interests of its members at the state capitol by employing registered lobbyists; hosting meetings and company tours to facilitate communication between CBIA members and their elected state officials; sponsoring events at the state capitol to highlight the importance of business and manufacturing to the state's economy; and sponsoring councils to encourage member involvement in the legislative process.

Program 2

CBIA communicates with its members and the public by publishing newsletters and email alerts on issues affecting business while the state legislature is in session; using print, broadcast, and social media to educate members and the general public on business-related public policy issues; publishing articles and opinion pieces in Connecticut newspapers; and maintaining a content-rich website.

Program 3

CBIA helps its members compete in a global economy by offering a free telephone service to members on human resource and other compliance issues; sponsoring events to educate members on business and economic issues; publishing newsletters on human resource, health and safety issues; and publishing surveys and other reports on economic and business topics.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $6,257,465

Investment Income $883,331

Other Revenue $34,512

TOTAL REVENUE $7,175,308

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,176,175

Fundraising Expenses $0

Program Expenses $0

Other Expenses $2,938,427

TOTAL EXPENSES $6,114,602

Year-over-Year Comparison

	2024	2023	Change
Revenue	$7,175,308	$6,538,531	+0.1%
Expenses	$6,114,602	$6,023,659	+0.0%
Net Income	$1,060,706	$514,872	+1.1%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$1,246,354

Total Directors

$505,413

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Brian S Montanari	vice chair	2.0	Officer Director	$0	$0	$0
Christian L DiPentima	President	32.0	Officer Director	$456,374	$49,039	$505,413
Kevin J Grigg PE	chair (until Dec 2024), immediate past chair	2.0	Officer Director	$0	$0	$0
Marietta S Lee	vice chair (until Dec 2024), chair	2.0	Officer Director	$0	$0	$0
Matthew D McSpedon	immediate past chair (until Dec 2024)	2.0	Officer Director	$0	$0	$0
Michael K Brooder	Vice Chair (beg Dec 2024)	2.0	Officer Director	$0	$0	$0
Abulkhair A Islam	Director	1.0	Director	$0	$0	$0
Aida Habtezion MD MSc	Director	1.0	Director	$0	$0	$0
Alison Avery	Director	1.0	Director	$0	$0	$0
Andrew Bologna	Director	1.0	Director	$0	$0	$0
Anthony Medici	Director (Beg Dec 2024)	1.0	Director	$0	$0	$0
Benjamin R Towne	Director	1.0	Director	$0	$0	$0
Brittany Isherwood	Director	1.0	Director	$0	$0	$0
Christina Oneglia Rossi	Director (Beg Dec 2024)	1.0	Director	$0	$0	$0
Christopher J Allen Sr	Director	1.0	Director	$0	$0	$0
Christopher L Levesque Sr	Director	1.0	Director	$0	$0	$0
Dana Beck	Director (Beg Dec 2024)	1.0	Director	$0	$0	$0
David Fiereck PE LEP	Director	1.0	Director	$0	$0	$0
Derrick Gibbs	Director (Beg Dec 2024)	1.0	Director	$0	$0	$0
Emily W Wiper	Director (until Dec 2024)	1.0	Director	$0	$0	$0
Erin Dumonski	Director (Beg Dec 2024, until April 2025)	1.0	Director	$0	$0	$0
Franklyn D Reynolds	Director	1.0	Director	$0	$0	$0
Gina Luari	Director (until April 2025)	1.0	Director	$0	$0	$0
Glendowlyn Thames	Director	1.0	Director	$0	$0	$0
Graham N Robinson	Director (until Dec 2024)	1.0	Director	$0	$0	$0
Ian K Walsh	Director (until Dec 2024)	1.0	Director	$0	$0	$0
Jacqueline Laramee	Director (Beg Dec 2024)	1.0	Director	$0	$0	$0
Jason B Guyot	Director	1.0	Director	$0	$0	$0
Jeff L Hubbard	Director (until Dec 2024)	1.0	Director	$0	$0	$0
Jeff Varesio	Director (until Dec 2024)	1.0	Director	$0	$0	$0
Jeffrey J White	Director (until Dec 2024)	1.0	Director	$0	$0	$0
Jennifer Collier	Director	1.0	Director	$0	$0	$0
Jennifer L Morgan	Director	1.0	Director	$0	$0	$0
Jillian B Mayer	Director	1.0	Director	$0	$0	$0
Joe Maisto	Director	1.0	Director	$0	$0	$0
Joseph A Kask CPA	Director (until Dec 2024)	1.0	Director	$0	$0	$0
Leander A Dolphin	Director	1.0	Director	$0	$0	$0
Louis Gallo	Director	1.0	Director	$0	$0	$0
Matthew E Hummel	Director	1.0	Director	$0	$0	$0
Maureen Gallo	Director (Beg Dec 2024)	1.0	Director	$0	$0	$0
Meg L Galistinos	Director	1.0	Director	$0	$0	$0
Meredith R Shay	Director (until Dec 2024)	1.0	Director	$0	$0	$0
Michele M Etzel	Director	1.0	Director	$0	$0	$0
Molly C Kellogg	Director	1.0	Director	$0	$0	$0
Moy N Ogilvie	Director	1.0	Director	$0	$0	$0
Nicole Russo	Director (Beg Dec 2024)	1.0	Director	$0	$0	$0
Pablo Prieto-Munoz	Director (Beg Dec 2024)	1.0	Director	$0	$0	$0
Rebecca Karabin-Ahern	Director (Beg Dec 2024)	1.0	Director	$0	$0	$0
Richard J Iovanne	Director	1.0	Director	$0	$0	$0
Robert Anderson	Director (Beg Dec 2024)	1.0	Director	$0	$0	$0
Robin L Fiala	Director (until Dec 2024)	1.0	Director	$0	$0	$0
Shawn P Coyne	Director	1.0	Director	$0	$0	$0
Siriam Krishnaswami	Director (Beg Dec 2024, until April 2025)	1.0	Director	$0	$0	$0
Stephen Moroney	Director (beg Dec 2024)	1.0	Director	$0	$0	$0
Stephen T Sullivan	Director	1.0	Director	$0	$0	$0
Susan A Martinelli	Director	1.0	Director	$0	$0	$0
Susan Jackson	Director (Beg Dec 2024)	1.0	Director	$0	$0	$0
Timothy Diemand	Director (Beg Dec 2024)	1.0	Director	$0	$0	$0
KENNETH COMEAU	CBIA SECRETARY AND SERVICE CORP PRESIDENT	8.0	Officer	$312,049	$41,297	$353,346
MARY BERGAMO	CFO and Treasurer	10.0	Officer	$0	$38,446	$284,931
TONI HOLMES	ASSISTANT SECRETARY	39.0	Officer	$0	$17,483	$102,664
Christopher Davis	VP Public Policy	40.0	Highest	$158,953	$38,878	$197,831
GERARD BUDD	VP COMMUNICATIONS	40.0	Highest	$167,739	$39,307	$207,046
Jose Dias	VP Member & Foundation Relations	38.0	Highest	$181,591	$20,695	$202,286
Matthew Howe	VP Marketing	8.0	Highest	$169,967	$10,527	$180,494
Thomas Day	Chief Information Officer	20.0	Highest	$0	$25,250	$239,173

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$7,175,308	$6,114,602	$23,805,638	$1,060,706
2024	$6,538,531	$6,023,659	$23,754,392	$514,872
2023	$5,905,869	$5,731,477	$21,320,391	$174,392
2022	$6,195,930	$3,591,676	$20,148,915	$2,604,254
2021	$6,093,369	$5,028,173	$20,915,774	$1,065,196
2020	$3,615,920	$3,917,257	$19,413,230	$-301,337
2019	$4,041,389	$4,371,910	$20,039,463	$-330,521
2018	$4,793,137	$4,293,942	$22,587,390	$499,195

Connecticut Business and Industry Association Inc