Rising Tide Capital Inc

Analysis

Rising Tide Capital Inc is a registered charity in United States, based in Jersey City, NJ. It received its IRS tax-exemption ruling in June 2005, 21 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, Rising Tide Capital Inc reported income of $5.0m and spending of $6.9m, spending 137% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.3m to $5.0m (+18%), an average of +4.2% a year. The sharpest change came in the year to December 2020, when income rose by 81%. Over the whole period it spent 89% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Rising Tide Capital Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within NJ. Charities of a similar size with the same main cause include African American Mayors Association Inc ($5.0m), Hopeworks Inc ($5.1m) and Tri-Angel Unlimited ($5.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 84% and program service revenue 11% of the total. Compensation of current officers, directors and key employees was $918k (13% of expenses). Other salaries and wages came to $2.7m. At year end it held assets of $12.4m against liabilities of $3.2m, net assets of $9.2m. It reported 36 employees.