Rhode Island Business Development Institute Inc

Analysis

Rhode Island Business Development Institute Inc is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in September 2017, 9 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, Rhode Island Business Development Institute Inc reported income of $240k and spending of $5,181, leaving 98% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $196k to $240k (+23%), an average of +23% a year. The sharpest change came in the year to December 2023, when income rose by 23%. Over the whole period it spent 3.4% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Rhode Island Business Development Institute Inc sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 54th percentile within RI. Charities of a similar size with the same main cause include Instruction Construction ($240k), Kings Fair Pledge Foundation Inc ($240k) and Black Wall Street Avl ($240k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. At year end it held assets of $1.2m against liabilities of $685k, net assets of $526k.