Mountain Empire Regional Business Incubator Inc

Analysis

Mountain Empire Regional Business Incubator Inc is a registered charity in United States, based in Duffield, VA. It received its IRS tax-exemption ruling in January 1999, 27 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, Mountain Empire Regional Business Incubator Inc reported income of $82k and spending of $199k, spending 244% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $186k to $82k (-56%), an average of -19% a year. The sharpest change came in the year to June 2023, when income dropped by 43%. Over the whole period it spent 132% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Mountain Empire Regional Business Incubator Inc sits at the 31st percentile: it is larger than about 31% of them. Against every charity in United States with reported income it ranks in the 32nd percentile, and in the 31st percentile within VA. Charities of a similar size with the same main cause include Seniors Job Bank Inc ($82k), Community Development Fund of Utah Inc ($82k) and Police Fire Memorial Foundation of Yonkers Inc ($82k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $486k against liabilities of $13k, net assets of $473k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.