Russell Innovation Center for Entrepreneurs Inc

Analysis

Russell Innovation Center for Entrepreneurs Inc is a registered charity in United States, based in Atlanta, GA. It received its IRS tax-exemption ruling in January 2016, 10 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, Russell Innovation Center for Entrepreneurs Inc reported income of $17.3m and spending of $9.3m, leaving 46% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.2m to $17.3m (+434%), an average of +52% a year. The sharpest change came in the year to December 2023, when income rose by 404%. Over the whole period it spent 56% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Russell Innovation Center for Entrepreneurs Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within GA. Charities of a similar size with the same main cause include Sek-Cap Inc ($17.3m), Bronx Community Health Network Inc ($17.4m) and East Missouri Action Agency Inc ($17.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% and program service revenue 7.3% of the total. Compensation of current officers, directors and key employees was $367k (3.9% of expenses). Other salaries and wages came to $2.4m. At year end it held assets of $25.5m against liabilities of $3.8m, net assets of $21.7m. It reported 34 employees.