Enterprise Center Inc

Analysis

Enterprise Center Inc is a registered charity in United States, based in Chattanooga, TN. It received its IRS tax-exemption ruling in February 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 June 2024, Enterprise Center Inc reported income of $3.9m and spending of $4.6m, spending 120% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $2.6m to $3.9m (+47%), an average of +8.0% a year. The sharpest change came in the year to June 2021, when income rose by 206%. Over the whole period it spent 92% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Enterprise Center Inc sits at the 91st percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 91st percentile within TN. Charities of a similar size with the same main cause include Masshire North Central Workforce Board Inc ($3.9m), Information Technology Senior Management Forum Inc ($3.9m) and Business Outreach Center Network Inc ($3.9m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $218k (4.7% of expenses). Other salaries and wages came to $1.9m. At year end it held assets of $2.6m against liabilities of $319k, net assets of $2.3m. It reported 39 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.