Accelerate 500 Inc

Analysis

Accelerate 500 Inc is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in December 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, Accelerate 500 Inc reported income of $3.1m and spending of $4.6m, spending 149% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $782k to $3.1m (+294%), an average of +41% a year. The sharpest change came in the year to December 2020, when income rose by 256%. Over the whole period it spent 84% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Accelerate 500 Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 74th percentile within DC. Charities of a similar size with the same main cause include Portage Industries Inc ($3.1m), Futureworks Inc ($3.1m) and Madera County Workforce Investment Corporation ($3.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. Other salaries and wages came to $1.2m. At year end it held assets of $6.4m against liabilities of $1.2m, net assets of $5.3m. It reported 11 employees.