Muncie Innovation Connector Inc

Analysis

Muncie Innovation Connector Inc is a registered charity in United States, based in Muncie, IN. It received its IRS tax-exemption ruling in June 2004, 22 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, Muncie Innovation Connector Inc reported income of $749k and spending of $851k, spending 114% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $365k to $749k (+105%), an average of +20% a year. The sharpest change came in the year to December 2020, when income rose by 100%. Over the whole period it spent 122% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Muncie Innovation Connector Inc sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within IN. Charities of a similar size with the same main cause include Clinical Placements Northwest ($748k), Raising a Village Foundation ($749k) and International Citizen Diplomacy of Los Angeles ($748k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 74% and program service revenue 38% of the total. Compensation of current officers, directors and key employees was $171k (20% of expenses). Other salaries and wages came to $179k. At year end it held assets of $2.6m against liabilities of $1.4m, net assets of $1.2m. It reported 5 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.