Wake Forest Innovation Quarter CDC

Analysis

Wake Forest Innovation Quarter CDC is a registered charity in United States, based in Winstonsalem, NC. 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 supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Wake Forest Innovation Quarter CDC reported income of $75k and spending of $11k, leaving 86% of income unspent that year. Across the 6 years on record, from June 2019 to December 2023, income fell from $75k to $75k (-0.2%), an average of +-0.0% a year. The sharpest change came in the year to December 2022, when income rose by 2501100%. Over the whole period it spent 52% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Wake Forest Innovation Quarter CDC sits at the 29th percentile: it is larger than about 29% of them. Against every charity in United States with reported income it ranks in the 29th percentile, and in the 27th percentile within NC. Charities of a similar size with the same main cause include Construction Safety Council of Northeast Ohio ($75k), Hoosic River Revival Inc ($75k) and Chesterbrook Learning Center ($75k).

At year end it held assets of $30.5m against liabilities of $338k, net assets of $30.2m.