Connecticut Center For Advanced Technology Inc
- Assets
- $11.8m
- Revenue
- $9.1m
- Investments
- $0.0
- Employees
- 43
- Location
- East Hartford, CT
- Founding
- 03/2005
- Data as of
- 12/2021
- EIN
- 20-1051854
Organization Overview
Connecticut Center For Advanced Technology Inc is located in East Hartford, CT. The organization was established in 2005. According to its NTEE Classification (J03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Employment and related organizations. As of 12/2021, Connecticut Center For Advanced Technology Inc employed 43 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Connecticut Center For Advanced Technology Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Connecticut Center For Advanced Technology Inc generated $9.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.5%) each year. All expenses for the organization totaled $9.6m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (6.9%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO DEVELOP DIRECT AND CONCISE STRATEGIES TO ADVANCE APPLIED TECHNOLOGIES THAT DRIVE INNOVATIVE PROCESSES AND VALUE-DRIVEN SOLUTIONS TO BUSINESSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE ASSISTANCE TO CONNECTICUT'S SMALL AND MEDIUM SIZE MANUFACTURING COMPANIES TO COMPETE IN THE AEROSPACE & DEFENSE MARKETS AND TO ADOPT TECHNOLOGIES AND PRACTICES NEEDED TO FULLY PARTICIPATE IN THE NEXT GENERATION AEROSPACE & DEFENSE SUPPLY BASE.
TO IMPLEMENT EDUCATION AND WORKFORCE INITIATIVES THAT LINK ACADEMIC DEVELOPMENT WITH CURRENT AND FUTURE TECHNOLOGY-BASED BUSINESSES.
TO DEVELOP STRATEGIES FOR THE ASSESSMENT AND DEVELOPMENT OF RENEWABLE ENERGY SUCH AS DISTRIBUTED GENERATION, HYDROGEN FUEL CELLS AND OTHER ENERGY IMPROVEMENT PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ron Angelo President & CEO | Officer | 40 | $239,834 |
John A Glidden Chief Financial Officer/secretary | Officer | 40 | $157,925 |
Joseph B Wysocki Senior Manager Of Advanced Technology Centers | 40 | $130,453 | |
Joel M Rinebold Director Of Energy Initiative | 40 | $123,060 | |
Jeffrey Crandall Additive Manufacturing Manager | 40 | $117,229 | |
Paul Striebel Procurement Manager | 40 | $106,856 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mcallister & Quinn Llc Consulting | 12/30/21 | $156,000 |
Ram Engineering Solutions Llc Engineering | 12/30/21 | $134,075 |
Pcf Realty Inc Real Estate Agency | 12/30/21 | $242,667 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $6,946,027 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,946,027 |
| Total Program Service Revenue | $2,106,360 |
| Investment income | $2,384 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,054,771 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $561,661 |
| Compensation of current officers, directors, key employees. | $561,661 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,073,980 |
| Pension plan accruals and contributions | $82,958 |
| Other employee benefits | $203,099 |
| Payroll taxes | $231,145 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $18,453 |
| Fees for services: Accounting | $54,040 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $814,587 |
| Advertising and promotion | $23,945 |
| Office expenses | $361,550 |
| Information technology | $119,702 |
| Royalties | $0 |
| Occupancy | $907,312 |
| Travel | $40,390 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $14,005 |
| Interest | $23,290 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $856,873 |
| Insurance | $28,043 |
| All other expenses | $0 |
| Total functional expenses | $9,629,248 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,038,047 |
| Savings and temporary cash investments | $5,034,678 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $544,892 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $37,733 |
| Net Land, buildings, and equipment | $4,158,775 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,814,125 |
| Accounts payable and accrued expenses | $1,109,132 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $801,639 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,811,283 |
| Total liabilities | $6,722,054 |
| Net assets without donor restrictions | $5,092,071 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $11,814,125 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Connecticut Center For Advanced Technology Inc has recieved totaling $150,000.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $150,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Connecticut Center For Advanced Technology Inc East Hartford, CT | $11,814,125 | $9,054,771 |
Electrical Contractors Association Of Greater Boston Inc West Newton, MA | $9,706,849 | $3,046,859 |
Office And Professional Employees International Union New York, NY | $0 | $408,139 |
Association Of Supervisors And Administrators Of Rochester Inc Rochester, NY | $390,084 | $502,666 |
8k Association Inc Norwalk, CT | $732,038 | $455,987 |
Commercial Real Estate Women Of New York Inc Brooklyn, NY | $290,310 | $0 |
Professional Clerical Technical Employees Association Buffalo, NY | $1,198,072 | $237,282 |
Connecticut Quarter Horse Assn Inc Broad Brook, CT | $30,859 | $0 |
New York State Athletic Trainers Association Poughquag, NY | $308,106 | $0 |
Brooklyn & Long Island Chapter Of The American College Of Surgeons Mineola, NY | $76,118 | $151,358 |
Pandion Healthcare Advocacy Inc Rochester, NY | $616,866 | $3,635 |
Public Sector Consortium Inc Cambridge, MA | $454,245 | $0 |