Urban Renewal Initiative Foundation

Analysis

Urban Renewal Initiative Foundation is a registered charity in United States, based in Royal Oak, MI. It received its IRS tax-exemption ruling in March 2013, 13 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Urban Renewal Initiative Foundation reported income of $10.5m and spending of $542k, leaving 95% of income unspent that year. Across the 6 years on record, from December 2018 to December 2023, income grew from $113k to $10.5m (+9236%), an average of +148% a year. The sharpest change came in the year to December 2020, when income rose by 970%. Over the whole period it spent 6.4% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Urban Renewal Initiative Foundation sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within MI. Charities of a similar size with the same main cause include Hollingsworth Funds Inc ($10.5m), Serv Properties and Management Inc ($10.5m) and Weiser Charitable Foundation ($10.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 47% of the total. At year end it held assets of $28.1m against liabilities of $1.6m, net assets of $26.4m.