Roanoke-Blacksburg Innovation Network

Analysis

Roanoke-Blacksburg Innovation Network is a registered charity in United States, based in Blacksburg, VA. It received its IRS tax-exemption ruling in September 2014, 12 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Roanoke-Blacksburg Innovation Network reported income of $3.7m and spending of $1.5m, leaving 58% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $368k to $3.7m (+895%), an average of +78% a year. The sharpest change came in the year to December 2023, when income rose by 423%. Over the whole period it spent 64% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Roanoke-Blacksburg Innovation Network sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within VA. Charities of a similar size with the same main cause include St Bernards Catholic Schools ($3.7m), Christian Central Academy ($3.7m) and Valor Christian Academy ($3.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $244k (16% of expenses). Other salaries and wages came to $292k. At year end it held assets of $2.4m against liabilities of $42k, net assets of $2.4m. It reported 8 employees.