NonprofitsConnectup Institute

Community Improvement & Capacity Building

Connectup Institute

SAINT PAUL, MN

Total revenue

$638K

Total expenses

$530K

Net assets

$582K

Grants received

$1.4M

25 grants

EIN

852918250

Tax year

2024

Mission

ConnectUP! Institute is a Black Native-led nonprofit social enterprise based in Saint Paul MN. Our mission: we curate connections among entrepreneurs investors and the business ecosystem to advance equitable access to capital resources and networks for underinvested communities with an emphasis on Black and Brown women and their lived experiences. Significant programs include ConnectUP! Summit is the premiere entrepreneur ecosystem event in Minnesota. The ConnectUP! Summit offers action-oriented content and collaborative networking spaces to bridge the 180 degrees of separation between entrepreneurs from underestimated communities local values-aligned investors and business support organizations statewide. The Summit strengthens an equitable entrepreneur ecosystem that helps all founders get to the next level driving positive sustainable investment and social impact grounded in economic justice; See Schedule O for further information

Programs

3 programs

Integrated Capital Fund provides access to capital to qualified candidates through loans and equity infusions.

Expenses: $123KGrants: $84K

Lunar-works with startup businesses to train and ready them for the next steps in their organizational and financial development; providing them with next steps to access capital to expand their businesses.

Expenses: $90KGrants: $80K

Connectup Institute provides financial and management training services as well as an annual meeting to connect entrepreneurs to investors and lending institutions.

Expenses: $46KGrants: $364K

Financials

FY 2024

Revenue

Contributions & grants$546K
Program service revenue$90K
Investment income
Other revenue$3K
Total revenue$638K

Expenses

Grants paid
Salaries & benefits$314K
Fundraising$48K
Other expenses$215K
Total expenses$530K
Total assets$785K
Net assets$582K

People

6 listed

NameRoleCompensation

Y Elaine Rasmussen

President

Board

$67K

40 hrs/wk

Leigh Lester

Co-Chair Person

Board

1 hrs/wk

Denise Butler

Co-Chair Person

Board

1 hrs/wk

Victor Jones

Vice Chair

Board

1 hrs/wk

Felicia DeSmith

Treasurer

Board

1 hrs/wk

Rebecca Blumenshine

Director

Board

1 hrs/wk

Grants received

Showing 25 of 25

FromAmountPurposeYear
$100K
ECONOMIC OPPORTUNITY - HOMETOWN
2024
$80K
MULTIPLE GRANTS FOR MULTIPLE PURPOSES
2024
$25K
GENERAL OPERATING SUPPORT
2024
$10K
GENERAL SUPPORT
2024
$156K
CASH GRANTS
2023
$125K
For general operating support
2023
$100K
GENERAL SUPPORT
2023
$50K
SUPPORTING ENTREPRENEURS IN NORTH MINNEAPOLIS - 540758
2023
$40K
GENERAL SUPPORT
2023
$30K
TRANSFERRING COMMUNITY TRUST: LUNAR ACCELERATOR JOINS CONNECTUP!
2023
$30K
MULTIPLE GRANTS FOR PROGRAMS, OPERATIONS, OR OTHER PURPOSES
2023
$30K
GENERAL OPERATIONS
2023
$25K
ECONOMIC OPPORTUNITY - HOMETOWN
2023
$15K
General Operations
2023
$125K
For general operating support
2022
$75K
DEVELOP IMPACT INVESTING FUND FOR BLACK AND BROWN WOMEN IN THE TWIN CITES METRO
2022
$35K
FOR BII COHORT PARTICIPATORY GRANTMAKING POOL
2022
$30K
DONOR-RECOMMENDED, GENERAL
2022
$15K
General Operations
2022
$75K
for general operating support
2021
$75K
for general operating support
2021
$50K
PUBLIC, SOCIETAL BENEFIT
2021
$39K
FOR BII COHORT PARTICIPATORY GRANTMAKING POOL
2021
$65K
Outreach and Technical Assistance for PPP and Capacity Building
2020

Funded by

$1.4M from 16 funders · 25 grants · 2020–2024

The McKnight Foundation

$400K · 4 grants · 2021–2023

Lunar Inc

$156K · 1 grant · 2023

Target Foundation

$125K · 2 grants · 2023–2024

Saint Paul & Minnesota Foundation

$110K · 2 grants · 2023–2024

Mary T And James J Hill Library

$100K · 1 grant · 2023

The Bush Foundation

$75K · 1 grant · 2022

Rsf Social Finance Inc

$74K · 2 grants · 2021–2022

African American Leadership Forum

$65K · 1 grant · 2020

Details

EIN852918250
NTEE codeS41
Subsection03
Ruling date2020-12
Formed2020
Employees11
Volunteers100
CONNECTUP INSTITUTE — Mission, Financials & Grants Received | Grantivo