The Acceleration Project Inc

Analysis

The Acceleration Project Inc is a registered charity in United States, based in Scarsdale, NY. It received its IRS tax-exemption ruling in January 2014, 12 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, The Acceleration Project Inc reported income of $2.2m and spending of $1.7m, leaving 22% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $647k to $2.2m (+243%), an average of +36% a year. The sharpest change came in the year to December 2022, when income rose by 67%. Over the whole period it spent 66% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, The Acceleration Project Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 84th percentile within NY. Charities of a similar size with the same main cause include Center for Growth and Independence ($2.2m), Orange County Rural Development ($2.2m) and Maine Manufacturing Extension Partnership ($2.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 65% and program service revenue 32% of the total. Compensation of current officers, directors and key employees was $385k (22% of expenses). Other salaries and wages came to $979k. At year end it held assets of $2.9m against liabilities of $188k, net assets of $2.7m. It reported 24 employees.