New England Business Growth Collective Inc

Analysis

New England Business Growth Collective Inc is a registered charity in United States, based in New Haven, CT. It received its IRS tax-exemption ruling in August 1980, 46 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, New England Business Growth Collective Inc reported income of $2.2m and spending of $1.8m, leaving 20% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.0m to $2.2m (+117%), an average of +21% a year. The sharpest change came in the year to December 2022, when income rose by 30%. Over the whole period it spent 76% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, New England Business Growth Collective Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 85th percentile within CT. Charities of a similar size with the same main cause include Innovation Marquette Enterprise Corporation ($2.2m), Harborquest Inc ($2.2m) and Greenville Area Development Corporation ($2.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 84% and program service revenue 8.7% of the total. Compensation of current officers, directors and key employees was $301k (17% of expenses). Other salaries and wages came to $843k. At year end it held assets of $2.5m against liabilities of $249k, net assets of $2.3m. It reported 10 employees.