Seat Innovation and Entrepreneurship Center Inc

Analysis

Seat Innovation and Entrepreneurship Center Inc is a registered charity in United States, based in St Thomas, VI. It received its IRS tax-exemption ruling in May 2020, 6 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, Seat Innovation and Entrepreneurship Center Inc reported income of $87k and spending of $83k, spending 96% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $2,000 to $87k (+4234%), an average of +251% a year. The sharpest change came in the year to December 2021, when income rose by 5735%. Over the whole period it spent 77% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Seat Innovation and Entrepreneurship Center Inc sits at the 32nd percentile: it is larger than about 32% of them. Against every charity in United States with reported income it ranks in the 33rd percentile, and in the 37th percentile within VI. Charities of a similar size with the same main cause include Dress for Success Shreveport- Bossier Inc ($87k), Calvary Community Development Corporation of Morristown ($87k) and Junior League of St Paul Inc ($87k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 99% and program service revenue 0.9% of the total. At year end it held assets of $71k against liabilities of $0, net assets of $71k.