Houston Business Development Inc

Analysis

Houston Business Development Inc is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in April 2019, 7 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 December 2023, Houston Business Development Inc reported income of $6.1m and spending of $6.8m, spending 113% of what it took in. Across the 6 years on record, from June 2019 to December 2023, income grew from $3.1m to $6.1m (+96%), an average of +14% a year. The sharpest change came in the year to December 2021, when income rose by 89%. Over the whole period it spent 93% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Houston Business Development Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 95th percentile within TX. Charities of a similar size with the same main cause include The Community Development Venture Capital Alliance ($6.0m), Pine Habilitation and Supported Employment Inc ($6.1m) and Norfolk State University Research and Innovation Foundation ($6.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 59% and program service revenue 41% of the total. Compensation of current officers, directors and key employees was $236k (3.4% of expenses). Other salaries and wages came to $751k. At year end it held assets of $20.8m against liabilities of $5.2m, net assets of $15.6m. It reported 13 employees.