Center for Black Innovation Inc

Analysis

Center for Black Innovation Inc is a registered charity in United States, based in Miami, FL. It received its IRS tax-exemption ruling in April 2016, 10 years ago. Its declared purposes cover youth development, which this site groups under children and youth 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 December 2023, Center for Black Innovation Inc reported income of $1.0m and spending of $1.1m, spending 106% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income grew from $864k to $1.0m (+19%), an average of +3.5% a year. The sharpest change came in the year to December 2021, when income rose by 48%. Over the whole period it spent 93% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Center for Black Innovation 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 79th percentile, and in the 82nd percentile within FL. Charities of a similar size with the same main cause include Abilene Youth Sports Authority Inc ($1.0m), Boy Scouts of America ($1.0m) and Teen Kitchen Project ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 0.0% of the total. Compensation of current officers, directors and key employees was $252k (23% of expenses). Other salaries and wages came to $189k. At year end it held assets of $1.2m against liabilities of $185k, net assets of $1.0m. It reported 6 employees.