Rhode Island Business Plan Competition

Analysis

Rhode Island Business Plan Competition is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in June 2006, 20 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 June 2024, Rhode Island Business Plan Competition reported income of $62k and spending of $69k, spending 111% of what it took in. Across the 2 years on record, from June 2023 to June 2024, income fell from $73k to $62k (-15%), an average of -15% a year. The sharpest change came in the year to June 2024, when income dropped by 15%. Over the whole period it spent 112% 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 Plan Competition sits at the 25th percentile: it is larger than about 25% of them. Against every charity in United States with reported income it ranks in the 24th percentile, and in the 21st percentile within RI. Charities of a similar size with the same main cause include Gads Hill Support Corporation ($62k), High-Tech Small Town ($62k) and Cleveland Development Foundation ($62k).

On its Form 990-EZ for the period ending June 2024, revenue came from contributions and grants 100% of the total. At year end it held assets of $2,258 against liabilities of $7,000, net assets of -$4,742.