First Flight Venture Center Inc

Analysis

First Flight Venture Center Inc is a registered charity in United States, based in Durham, NC. It received its IRS tax-exemption ruling in April 1993, 33 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, First Flight Venture Center Inc reported income of $1.5m and spending of $1.3m, spending 82% of its income. Across the 6 years on record, from December 2018 to December 2023, income grew from $1.3m to $1.5m (+23%), an average of +4.2% a year. The sharpest change came in the year to December 2021, when income rose by 43%. Over the whole period it spent 91% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, First Flight Venture Center Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 85th percentile within NC. Charities of a similar size with the same main cause include Westminster Home Connection ($1.5m), Hampton Roads Executive Roundtable ($1.5m) and Alpha Productions Technologies Inc ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 46% and program service revenue 51% of the total. Compensation of current officers, directors and key employees was $177k (14% of expenses). Other salaries and wages came to $320k. It paid $18k in professional fundraising fees. At year end it held assets of $2.1m against liabilities of $242k, net assets of $1.9m. It reported 13 employees.