Kultivate Labs

Analysis

Kultivate Labs is a registered charity in United States, based in San Francisco, CA. It received its IRS tax-exemption ruling in March 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, Kultivate Labs reported income of $2.1m and spending of $2.2m, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $798k to $2.1m (+166%), an average of +28% a year. The sharpest change came in the year to December 2023, when income rose by 119%. Over the whole period it spent 103% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Kultivate Labs sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 87th percentile within CA. Charities of a similar size with the same main cause include International Union of Operating Engineers Local Union 450 Apprenti ($2.1m), Pennsylvania State Association of County Fairs ($2.1m) and Anson Economic Development Corporation ($2.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 87% and program service revenue 5.5% of the total. Compensation of current officers, directors and key employees was $110k (5.0% of expenses). Other salaries and wages came to $770k. It paid $54k in professional fundraising fees. At year end it held assets of $339k against liabilities of $655k, net assets of -$316k. It reported 13 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.