Generator Inc

Analysis

Generator Inc is a registered charity in United States, based in Burlington, VT. It received its IRS tax-exemption ruling in June 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Generator Inc reported income of $1.0m and spending of $960k, spending 93% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $694k to $1.0m (+49%), an average of +10% a year. The sharpest change came in the year to June 2022, when income rose by 40%. Over the whole period it spent 83% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Generator Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 77th percentile within VT. Charities of a similar size with the same main cause include Catskill Revitalization Corporation ($1.0m), Hammond Development Corporation ($1.0m) and Penn Northwest Development Corporation ($1.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 63% and program service revenue 36% of the total. Compensation of current officers, directors and key employees was $114k (12% of expenses). Other salaries and wages came to $456k. At year end it held assets of $1.4m against liabilities of $60k, net assets of $1.3m. It reported 35 employees.