CONNECTICUT CENTER FOR ARTS & TECHNOLOGY

EIN: 451257955 501(c)(3) Education

NEW HAVEN, CT

Total Revenue
$1,238,419
Total Expenses
$2,682,373
Total Assets
$931,224
Net Assets
$-2,981,543
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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
2011
Legal Domicile
CT
Principal Officer
ERIK CLEMONS
Phone
2038239823
Tax Period
2024-01-01 to 2024-12-31

CONNECTICUT CENTER FOR ARTS & TECHNOLOGY, founded in 2011, is a community nonprofit in the Education sector that reported $1.2M in total revenue in fiscal year 2024. Expenses of $2.7M exceeded revenue, resulting in a 117% operating deficit.

Mission

CONNCAT CREATES A LEARNING ENVIRONMENT THAT INSPIRES HOPE, INNOVATION, CREATIVITY, AND EXCELLENCE WHILE PROVIDING A PATH FOR INDIVIDUALS TO REVITALIZE THE LANDSCAPE OF THE URBAN COMMUNITY.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,193,539
Program Service Revenue $6,831
Investment Income $8
Other Revenue $38,041
TOTAL REVENUE $1,238,419

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,406,699
Fundraising Expenses $31,793
Program Expenses $1,886,070
Other Expenses $1,275,674
TOTAL EXPENSES $2,682,373

Year-over-Year Comparison

2024 2023 Change
Revenue $1,238,419 $1,218,253 +0.0%
Expenses $2,682,373 $2,476,599 +0.1%
Net Income $-1,443,954 $-1,258,346 +0.1%
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

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Governance

Voting Members
11
Independent Members
8
Employees
30
Volunteers
10

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
5
$641,553
Total Directors
10
$823,552
Key Employees
0
$0
Highest Compensated
2
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CARLTON L HIGHSMITH BOARD CHAIR 3.00
Officer Director
$0 $0 $0
KEVIN A MYATT VICE PRESIDENT/VICE CHAIR 1.00
Officer Director
$0 $0 $0
CATHERINE E LAMARR ESQ TREASURER 1.00
Officer Director
$0 $0 $0
ALEXIS N HIGHSMITH SMITH ESQ SECRETARY 1.00
Officer Director
$0 $0 $0
ERIK CLEMONS ACTING PRESIDENT & CEO 20.00
Officer Director
$150,000 $20,478 $641,553
PAUL MCCRAVEN DIRECTOR 1.00
Director
$0 $11,960 $181,999
DANIEL CARON DIRECTOR 1.00
Director
$0 $0 $0
DENISE MORRIS DIRECTOR 1.00
Director
$0 $0 $0
MILTON WALLACK DDS DIRECTOR 1.00
Director
$0 $0 $0
RONALD X JOHNSON DIRECTOR 1.00
Director
$0 $0 $0
OPAL HARMON DIRECTOR OF OPERATION & HR 40.00
Highest
$118,715 $4,572 $123,287
STEPHEN DRIFFIN DIRECTOR OF PROGRAMS 40.00
Highest
$104,999 $4,038 $109,037
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
2024 $1,238,419 $2,682,373 $931,224 $-1,443,954
2023 $1,218,253 $2,476,599 $1,523,388 $-1,258,346
2022 $1,030,188 $2,206,112 $2,427,184 $-1,175,924
2021 $11,576,748 $4,087,742 $3,075,426 $7,489,006
2020 $7,171,565 $3,827,190 $10,117,378 $3,344,375
2019 $8,445,855 $3,803,491 $7,005,841 $4,642,364
2018 $1,257,244 $3,196,176 $4,866,778 $-1,938,932
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