Bounce Innovation Hub

Analysis

Bounce Innovation Hub is a registered charity in United States, based in Akron, OH. It received its IRS tax-exemption ruling in August 2018, 8 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, Bounce Innovation Hub reported income of $4.1m and spending of $3.7m, spending 90% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.8m to $4.1m (+46%), an average of +9.8% a year. The sharpest change came in the year to December 2023, when income rose by 27%. Over the whole period it spent 97% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Bounce Innovation Hub sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 91st percentile within OH. Charities of a similar size with the same main cause include Mission Language & Vocational School ($4.1m), The Michigan Womens Foundation ($4.1m) and Atlanta Electrical Joint Apprenticeship & Training Committe ($4.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 78% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $412k (11% of expenses). Other salaries and wages came to $999k. At year end it held assets of $2.3m against liabilities of $895k, net assets of $1.4m. It reported 26 employees.