Los Angeles Cleantech Incubator

Analysis

Los Angeles Cleantech Incubator is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in August 2012, 14 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, Los Angeles Cleantech Incubator reported income of $26.3m and spending of $17.8m, leaving 33% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $10.3m to $26.3m (+156%), an average of +26% a year. The sharpest change came in the year to December 2022, when income rose by 107%. Over the whole period it spent 77% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Los Angeles Cleantech Incubator sits at the 99th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within CA. Charities of a similar size with the same main cause include Center for Community Change ($26.3m), Avance Inc ($26.3m) and Raza Development Fund Inc ($26.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% and program service revenue 7.3% of the total. Compensation of current officers, directors and key employees was $980k (5.5% of expenses). Other salaries and wages came to $5.5m. At year end it held assets of $22.2m against liabilities of $2.4m, net assets of $19.9m. It reported 75 employees.