Launchyourcity Inc

Analysis

Launchyourcity Inc is a registered charity in United States, based in Collierville, TN. It received its IRS tax-exemption ruling in July 2009, 17 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, Launchyourcity Inc reported income of $488k and spending of $705k, spending 145% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income fell from $1.1m to $488k (-56%), an average of -15% a year. The sharpest change came in the year to December 2021, when income dropped by 56%. Over the whole period it spent 103% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Launchyourcity Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 71st percentile within TN. Charities of a similar size with the same main cause include Greater Wisconsin Opportunities Fund Inc ($488k), Arlee Community Development Corporation ($488k) and Seesaw Communities Inc ($487k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 27% and program service revenue 73% of the total. Compensation of current officers, directors and key employees was $101k (14% of expenses). Other salaries and wages came to $375k. At year end it held assets of $44k against liabilities of $463k, net assets of -$419k. It reported 6 employees.