Initiative for a Competitive Inner City Inc

Analysis

Initiative for a Competitive Inner City Inc is a registered charity in United States, based in Roxbury, MA. It received its IRS tax-exemption ruling in March 1995, 31 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Initiative for a Competitive Inner City Inc reported income of $9.1m and spending of $9.7m, spending 107% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $6.5m to $9.1m (+39%), an average of +8.6% a year. The sharpest change came in the year to December 2022, when income rose by 74%. Over the whole period it spent 89% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Initiative for a Competitive Inner City Inc sits at the 95th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within MA. Charities of a similar size with the same main cause include Wesley Willows ($9.1m), Community Housing Partnership ($9.1m) and Western Community Housing Inc ($9.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% and program service revenue 2.0% of the total. Compensation of current officers, directors and key employees was $814k (8.4% of expenses). Other salaries and wages came to $3.8m. At year end it held assets of $11.6m against liabilities of $434k, net assets of $11.2m. It reported 71 employees.