2023-04-28T10:36:32-05:00 2022-06-30 330810710 SWENSON ADVISORS LLP 25220 HANCOCK AVE SUITE 240 MURRIETA CA 92562 990 2021-07-01 203049742 CONNECT FOUNDATION CONN 8589641300 9605 SCRANTON ROAD 110 SAN DIEGO CA 92121 MIKE KRENN CEO 8589641310 2023-04-26 1 MIKE KRENN 999009999 SCOTT MAXWELL P00749825 9514454700 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z MIKE KRENN 9605 SCRANTON ROAD 110 SAN DIEGO CA 92121 2690604 0 X WWW.CONNECT.ORG X 2005 CA CONNECT ELEVATES ENTREPRENEURS BY PROVIDING EDUCATIONAL PROGRAMMING, MENTORSHIP, INTRODUCTIONS, AND ACCESS TO CAPITAL. WE HELP INNOVATIVE COMPANIES THRIVE SO THEY CAN MAKE A MEANINGFUL IMPACT IN THE DEVELOPMENT OF THE SAN DIEGO REGION. WE'RE ON A MISSION TO BUILD A WORLD-CLASS INNOVATION ECONOMY. 92 92 13 30 0 0 1145687 1663728 279643 1026535 242 341 0 0 1425572 2690604 0 0 0 0 1249010 1390809 0 0 160756 198074 815636 1447084 2206445 -21512 484159 1763046 2161085 1433368 1203752 329678 957333 X CONNECT IS AN INNOVATION INSTIGATOR ESTABLISHED TO CULTIVATE SAN DIEGO'S LIFE SCIENCE AND TECH COMMUNITIES. A TRUSTED PARTNER FOR MORE THAN 30 YEARS, WE PROPEL OUR REGION'S ENTREPRENEURS AS THEY CREATE AND SCALE THEIR COMPANIES FROM FIRST-TIME FOUNDERS TO SEASONED EXECUTIVES. WE OPERATE ACROSS DIVERSE INDUSTRY VERTICALS WITH A MINDSET DRIVEN BY INCLUSIVE SOCIAL GOOD MAKING A POSITIVE IMPACT ACROSS THE ENTIRETY OF THE MEGA-REGION. IN ELEVATING ENTREPRENEURIAL MASTERY SUCH AS PROVIDING ACCESS TO INSTITUTIONAL CAPITAL, STRATEGIC ADVISING, AND PARTNERING OPPORTUNITIES WE BRING TOGETHER OUR REGION'S CULTURE AND SPIRIT TO IGNITE OUR INNOVATION ECONOMY. 0 0 557203 617831 FIVE.TEN.THIRTYFIVE.TEN.THIRTY IN 2022 WAS THE LARGEST GATHERING OF THE INNOVATION COMMUNITY IN SAN DIEGO HISTORY. CONNECT GATHERED 200 VCS, ANGEL INVESTORS, CEOS, CTOS, DEI LEADERS, NATIONAL SECURITY LEADERS, AND 160+ TECH AND LIFE SCIENCE COMPANIES, DRIVING INNOVATION ACROSS SAN DIEGO TO CONTINUE COLLECTIVE MOMENTUM FORWARD TO SCALING UP A MORE ROBUST AND MORE INCLUSIVE ECONOMY ACROSS THE MEGAREGION. OVER 3,000 PEOPLE ATTENDED THIS INAUGURAL EVENT. THE GOALS OF 5.10.30 ARE TO CELEBRATE COMMUNITY ADVANCEMENT, TO GENERATE INTEREST OUTSIDE OF SAN DIEGO AND ATTRACT MORE TALENT TO SAN DIEGO. 226874 21500 OFFICE HOURSOFFICE HOURS, PROVIDES ENTREPRENEURS AN OPPORTUNITY FOR PRIVATE, PRO BONO PROFESSIONAL ADVICE; 183484 80123 SPRINGBOARDA BUSINESS CREATION AND DEVELOPMENT PROGRAM IN WHICH BUSINESS ADVISORS PROVIDE MENTORSHIP TO NEW TECHNOLOGY COMPANIES WHO THEN PRESENT TO A PANEL OF INDUSTRY VETERANS, INVESTORS AND SERVICE PROVIDERS 782808 307081 782808 307081 1750369 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 6 0 1 13 1 0 0 0 0 0 0 0 0 0 0 X 92 92 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X X MIKE KRENN 8589641300 9605 SCRANTON ROAD 110 SAN DIEGO CA 92121 ASHLEY VAN ZEELAND MEMBER OF BOARD 0.00 X 0 0 0 VICTORIA ASHTON MEMBER OF BOARD 0.00 X 0 0 0 RICK BELLIOTTI MEMBER OF BOARD 0.00 X 0 0 0 CHRISTINA BIBLER MEMBER OF BOARD 0.00 X 0 0 0 MIKE CASLER MEMBER OF BOARD 0.00 X 0 0 0 MATTHEWD'ALESSANDRO MEMBER OF BOARD 0.00 X 0 0 0 RICARD DOS SANTOS MEMBER OF BOARD 0.00 X 0 0 0 GABRIELLE DUBICK MEMBER OF BOARD 0.00 X 0 0 0 JOHN FRAGER MEMBER OF BOARD 0.00 X 0 0 0 ENOCH KARIUKI MEMBER OF BOARD 0.00 X 0 0 0 BRYAN KNOX MEMBER OF BOARD 0.00 X 0 0 0 TYLER LAY MEMBER OF BOARD 0.00 X 0 0 0 CLARK LIBENSON MEMBER OF BOARD 0.00 X 0 0 0 JENELL MCKAY MEMBER OF BOARD 0.00 X 0 0 0 CZACHARY MYERS MEMBER OF BOARD 0.00 X 0 0 0 RED ROTH MEMBER OF BOARD 0.00 X 0 0 0 BRENT GLOVA MEMBER OF BOARD 0.00 X 0 0 0 MATT SANFORD MEMBER OF BOARD 0.00 X 0 0 0 ADAM HARRIS MEMBER OF BOARD 0.00 X 0 0 0 DON ROSENBERG MEMBER OF THE BOARD 0.00 X 0 0 0 AJAY NIRULA MEMBER OF BOARD 0.00 X 0 0 0 BOB BROWER MEMBER OF BOARD 0.00 X 0 0 0 ARAMA KUKUTAI MEMBER OF BOARD 0.00 X 0 0 0 JOHN DUNN MEMBER OF BOARD 0.00 X 0 0 0 CRAIG GOLDING MEMBER OF BOARD 0.00 X 0 0 0 PHIL JELSMA MEMBER OF BOARD 0.00 X 0 0 0 STATH KARRAS MEMBER OF BOARD 0.00 X 0 0 0 PRADEEP KHOSLA MEMBER OF BOARD 0.00 X 0 0 0 MIKE KINKELAAR SECRETARY 0.00 X 0 0 0 JAMES MACKAY CHAIRMAN OF THE BOARD 0.00 X 0 0 0 BEN WILLIAMS MEMBER OF BOARD 0.00 X 0 0 0 BRUCE STEEL MEMBER OF BOARD 0.00 X 0 0 0 CHESTON LARSON MEMBER OF BOARD 0.00 X 0 0 0 CHRISTIAN SALAMAN MEMBER OF BOARD 0.00 X 0 0 0 DANNY FITZGERALD MEMBER OF BOARD 0.00 X 0 0 0 TIM SCOTT MEMBER OF BOARD 0.00 X 0 0 0 DAVID COATS MEMBER OF BOARD 0.00 X 0 0 0 DAVID HALE MEMBER OF BOARD 0.00 X 0 0 0 DENA MARRINUCCI MEMBER OF BOARD 0.00 X 0 0 0 DOUG WINTER MEMBER OF BOARD 0.00 X 0 0 0 MITCH KRONENBERG MEMBER OF BOARD 0.00 X 0 0 0 ED BRYANT MEMBER OF BOARD 0.00 X 0 0 0 BRUCE RUCKS TREASURER 0.00 X 0 0 0 ERIK CALDWELL MEMBER OF BOARD 0.00 X 0 0 0 TREVOR WALKER MEMBER OF BOARD 0.00 X 0 0 0 GERARDO GODINEZ MEMBER OF BOARD 0.00 X 0 0 0 PETER WESTLAKE MEMBER OF BOARD 0.00 X 0 0 0 DENISE BEVERS MEMBER OF BOARD 0.00 X 0 0 0 HEATHER ACE MEMBER OF BOARD 0.00 X 0 0 0 JAKE BOAZ MEMBER OF BOARD 0.00 X 0 0 0 STEVEN CHINOWSKY MEMBER OF BOARD 0.00 X 0 0 0 JARED RUTH MEMBER OF BOARD 0.00 X 0 0 0 TYLER DUKE MEMBER OF BOARD 0.00 X 0 0 0 HUNTER REED MEMBER OF BOARD 0.00 X 0 0 0 JAY LICHTER MEMBER OF BOARD 0.00 X 0 0 0 JOE STRAIN MEMBER OF BOARD 0.00 X 0 0 0 MITCH CLAWSON MEMBER OF BOARD 0.00 X 0 0 0 SCOTT SCHINDLER MEMBER OF BOARD 0.00 X 0 0 0 JEN DERKS MEMBER OF BOARD 0.00 X 0 0 0 JEREMY GLASER MEMBER OF BOARD 0.00 X 0 0 0 JONATHAN KABAKOFF MEMBER OF BOARD 0.00 X 0 0 0 CARIN CANALE THEAKSTON MEMBER OF BOARD 0.00 X 0 0 0 KC FREER MEMBER OF BOARD 0.00 X 0 0 0 STEVE PACELLI MEMBER OF BOARD 0.00 X 0 0 0 STANLEY MALOY MEMBER OF BOARD 0.00 X 0 0 0 RYAN MELNICK MEMBER OF BOARD 0.00 X 0 0 0 KEVIN MEISSNER MEMBER OF BOARD 0.00 X 0 0 0 KILLU SANBORN MEMBER OF BOARD 0.00 X 0 0 0 ERIC OTTERSON CO-VICE CHAIR 0.00 X 0 0 0 STEPHANE SHU KIN SO MEMBER OF BOARD 0.00 X 0 0 0 KIM KAMDAR MEMBER OF BOARD 0.00 X 0 0 0 DAVID WEITZ MEMBER OF BOARD 0.00 X 0 0 0 KIRT SHULDBERG MEMBER OF BOARD 0.00 X 0 0 0 KRISTINA HESS MEMBER OF BOARD 0.00 X 0 0 0 MARK WICKER MEMBER OF BOARD 0.00 X 0 0 0 MARY WALSHOK MEMBER OF BOARD 0.00 X 0 0 0 MATT BROWNE MEMBER OF BOARD 0.00 X 0 0 0 MICHAEL HOWARD MEMBER OF BOARD 0.00 X 0 0 0 MICHAEL UMANSKY MEMBER OF BOARD 0.00 X 0 0 0 PAUL JOHNSON MEMBER OF BOARD 0.00 X 0 0 0 PRIYA KANNAN-NARASIMHAN MEMBER OF BOARD 0.00 X 0 0 0 QUINN LI MEMBER OF BOARD 0.00 X 0 0 0 RANDY SOCOL MEMBER OF BOARD 0.00 X 0 0 0 RICK VALENCIA CO-VICE CHAIR 0.00 X 0 0 0 RYAN BUELL MEMBER OF BOARD 0.00 X 0 0 0 SCOT GINSBURG MEMBER OF BOARD 0.00 X 0 0 0 SCOTT FOOTE MEMBER OF BOARD 0.00 X 0 0 0 STEVE BERHORST MEMBER OF BOARD 0.00 X 0 0 0 STUART STARR MEMBER OF BOARD 0.00 X 0 0 0 SUSIE HARBORTH MEMBER OF BOARD 0.00 X 0 0 0 TYLER ORION MEMBER OF BOARD 0.00 X 0 0 0 TYLER WILSON MEMBER OF BOARD 0.00 X 0 0 0 MARCELA CHRISTIE COO 1.00 X 156729 0 0 MIKE KRENN CEO 40.00 X 297277 0 0 LAURA SHAW COO 40.00 X 47712 0 0 501718 0 0 2 0 1 0 JOHN THOMAS 1755 KOESTER STREET CHULA VISTA CA 91913 ACCOUNTING & FINANCE 103003 1 781185 882543 1663728 UNDERWRITING 900099 833250 833250 PROGRAM FEES 900099 193285 193285 1026535 341 341 2690604 1026535 0 341 501718 501718 889091 527266 252702 109123 24139 12069 6035 6035 64112 39180 8904 16028 39262 28130 1316 9816 100868 75651 15130 10087 15005 9003 6002 5687 5687 4222 2956 633 633 8525 6394 2131 9396 4698 2349 2349 DIRECT PROGRAM EXPENSES 542188 542188 MISC EXPENSES 1500 750 375 375 SPONSORSHIPS 500 250 250 DUES AND SUBSCRIPTIONS 232 116 58 58 2206445 1750369 295320 160756 1437389 1671739 260277 391338 47134 65094 77682 44768 18246 32914 1763046 2161085 53359 109952 1091516 1093800 288493 0 1433368 1203752 X -470322 156995 800000 800338 329678 957333 1763046 2161085 484159 143496 0 X X 0 1 X 1 0 X 1335245 1029888 1465729 1145688 1663728 6640278 1335245 1029888 1465729 1145688 1663728 6640278 1540263 5100015 6640278 3151599 0.76800 0.74100 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 77682 44768 32914 32914 X 2690604 0 2690604 0 2690604 2206445 0 2206445 0 2206445 PART X, LINE 2: CONNECT FOUNDATION USES A LOSS CONTINGENCIES APPROACH FOR EVALUATING UNCERTAIN TAX POSITIONS AND CONTINUALLY EVALUATES CHANGES IN TAX LAW AND NEW AUTHORITATIVE RULINGS. X 0 0 0 0 0 0 0 0 0 MIKE KRENN CEO 297277 0 0 0 0 0 0 0 0 0 297277 0 0 0 MARCELA CHRISTIE COO 156729 0 0 0 0 0 0 0 0 0 156729 0 0 0 FORM 990, PART III, LINE 4D FIVE.TEN.THIRTY IN 2022 WAS THE LARGEST GATHERING OF THE INNOVATION COMMUNITY IN SAN DIEGO HISTORY. CONNECT GATHERED 200 VCS, ANGEL INVESTORS, CEOS, CTOS, DEI LEADERS, NATIONAL SECURITY LEADERS, AND 160+ TECH AND LIFE SCIENCE COMPANIES, DRIVING INNOVATION ACROSS SAN DIEGO TO CONTINUE COLLECTIVE MOMENTUM FORWARD TO SCALING UP A MORE ROBUST AND MORE INCLUSIVE ECONOMY ACROSS THE MEGAREGION. OVER 3,000 PEOPLE ATTENDED THIS INAUGURAL EVENT. THE GOALS OF 5.10.30 ARE TO CELEBRATE COMMUNITY ADVANCEMENT, TO GENERATE INTEREST OUTSIDE OF SAN DIEGO AND ATTRACT MORE TALENT TO SAN DIEGO. FRAMEWORKS WORKSHOPS, HALF-DAY, PROFESSIONAL DEVELOPMENT PROGRAMS STRUCTURED TO PROVIDE AN OVERVIEW OF BUSINESS BASICS THROUGH 'FUNDAMENTALS': A VOCABULARY, FOUNDATION AND 'FRAMEWORK' IN WHICH BUSINESS LEADERSHIP CAN BE BUILT AROUND, AND 'ADVANCED WORKSHOPS': A FOCUSED AND DETAILED LOOK AT SPECIALIZED AND INDUSTRY SPECIFIC TOPICS CUSTOMIZED TO FIT THE NEEDS OF A START-UP COMPANY; CONNECT INNOVATION REPORT, A REGIONAL QUARTERLY INDEX WHICH TRACKS THE HEALTH OF THE SAN DIEGO INNOVATION ECONOMY BY COMPARING DATA YEAR TO YEAR AND QUARTER TO QUARTER, PROVIDING A COMPARISON ACROSS TECH INDUSTRY CLUSTERS TO SELECTED REGIONS AND MONITORING AVAILABILITY OF VARIOUS TYPES OF CAPITAL. THE DATA HELPS POLICYMAKERS AND TRADE ORGANIZATIONS PLAN AND ADVOCATE EFFECTIVELY FOR INNOVATION ECONOMY INCLUDING AVAILABILITY OF VISAS AND WORKFORCE TRAINING FOR TALENT IN HIGH GROWTH CLUSTERS, BUILDING AN ATTRACTIVE ENVIRONMENT FOR CAPITAL INVESTMENT, ALLOCATION OF GRANT FUNDING, REFORM OF THE PATENT SYSTEM AND ZONING; VENTURE SUMMIT, A TWO-DAY CONFERENCE CONNECTING SAN DIEGO'S COMPANIES TO INVESTORS FROM ALL OVER THE COUNTRY. DAY 1 FOCUSES ON SAN DIEGO LIFE-SCIENCE AND TECHNOLOGY COMPANIES IN MULTIPLE TRACKS, PITCHING TO INVESTORS FROM ALL OVER THE COUNTRY. THE INVESTORS AND KEY PLAYERS FROM THE SAN DIEGO INNOVATION COMMUNITY NEED TO PARTICIPATE IN A NETWORKING EVENT FOCUSED ON BUILDING RELATIONSHIPS AND ELEVATING THE SAN DIEGO ECOSYSTEM. DAY 2 BRINGS IN UP-AND-COMING VENTURE CAPITALISTS FROM ALL OVER THE COUNTRY TO GIVE EDUCATIONAL TALKS; SUMMER SOCIAL, AN ANNUAL GATHERING OF SAN DIEGO ENTREPRENEURS, INNOVATORS, INVESTORS, CEOS, AND SERVICE PROVIDERS GETTING TOGETHER TO NETWORK, MAKE RELATIONSHIPS, AND CELEBRATE THE INNOVATION COMMUNITY OF SAN DIEGO. THE PROGRAM WILL RESUME IN FISCAL YEAR 2023 (JULY 2022); LIFE SCIENCE LUMINARY DINNER, AN ANNUAL DINNER OF KEY PLAYERS IN THE SAN DIEGO LIFE SCIENCE COMMUNITY, TRADITIONALLY HOSTED AT THE HOME OF A SUCCESSFUL LIFE SCIENCE ENTREPRENEUR THAT MADE GREAT STRIDES IN THE LIFE SCIENCE COMMUNITY IN THE PAST YEAR. THE DINNER BRINGS IN ONLY THE TOP INNOVATORS TO BUILD RELATIONSHIPS, NETWORK, AND CELEBRATE THE SAN DIEGO LIFE SCIENCE COMMUNITY; MEET A MENTOR, A PROGRAM THAT MATCHES EARLY-STAGE COMPANIES WITH GENERALIST MENTORS TO ANSWER QUESTIONS RANGING FROM IDEAS, BUSINESS PLANS, MARKETING, AND MORE; VC ROAD TRIP, DURING DAY 2 OF THE COOL COMPANIES PRIVATE EVENT, VENTURE CAPITALISTS FROM ALL AROUND THE COUNTRY EMBARK ON AN OUTING, TYPICALLY SAILING, AND ARE GIVEN A TOUR OF SAN DIEGO. THE PURPOSE OF THE DAY IS TO LEARN ABOUT SAN DIEGO AND TO GROW RELATIONSHIPS BETWEEN OUT-OF-TOWN VENTURE CAPITALISTS AND THE SAN DIEGO INNOVATION COMMUNITY. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS FIRST REVIEWED BY THE ORGANIZATION'S ACCOUNTING DEPARTMENT AND AUDIT COMMITTEE WHERE IT IS COMPARED AGAINST AUDITED FINANCIAL STATEMENTS. FORM 990 IS THEN FORWARDED TO THE CEO FOR HIS REVIEW, WITH EMPHASIS ON NON-FINANCIAL INFORMATION CONTAINED IN THE TAX RETURN. ONCE AUTHORIZED BY THE CEO, THE FORM 990 IS SENT TO THE AUDIT COMMITTEE FOR APPROVAL. ONCE APPROVED, IT IS DISTRIBUTED TO THE FULL BOARD FOR COMMENTS. LASTLY, THE TAX PREPARER IS NOTIFIED THAT THE FORM 990 IS READY TO BE FILED. FORM 990, PART VI, SECTION B, LINE 12C WHEN A PERCEIVED CONFLICT EXISTS AND IS NOT RAISED, IT IS ADDRESSED WITH THE INDIVIDUAL AND THE INDIVIDUAL IS ASKED TO ABSTAIN FROM VOTING OR PERFORMING ACTIONS THAT WOULD CREATE A CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 A COMPENSATION COMMITTEE MADE UP OF EXECUTIVES FROM VARIOUS PROFESSIONS EVALUATE THE CEO'S SALARY ANNUALLY. THEY COMPARE HIS SALARY TO COMPARABLE NON-PROFIT COMPANIES IN THE REGION USING THE "CHARITY NAVIGATOR CEO COMPENSATION STUDY" THE CEO'S SALARY IS ADJUSTED UPWARD BASED ON MEETING CERTAIN MILESTONES, AND CAN BE DEFERRED UPON AGREEMENT BY THE CEO AND THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. THE FORM 990 IS ALSO AVAILABLE ON WWW.GUIDESTAR.COM. FORM 990, PART XII, LINE 2C THERE HAVE BEEN NO CHANGES FROM THE PRIOR YEAR BY ORGANIZATION'S COMMITTEE THAT ASSUMES RESPONSIBLITY FOR OVERSIGHT OF THE AUDIT OF THE ORGANIZATION'S FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT.