Traverse City Center of Entrepreneurship

Analysis

Traverse City Center of Entrepreneurship is a registered charity in United States, based in Traverse City, MI. It received its IRS tax-exemption ruling in October 2018, 8 years ago. 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, Traverse City Center of Entrepreneurship reported income of $1.1m and spending of $1.2m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $571k to $1.1m (+100%), an average of +19% a year. The sharpest change came in the year to December 2021, when income rose by 165%. Over the whole period it spent 106% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Traverse City Center of Entrepreneurship sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 81st percentile within MI. Charities of a similar size with the same main cause include Elmhurst Cemetery ($1.1m), Habitat for Humanity International Inc ($1.1m) and New Hope Farms ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 64% and program service revenue 36% of the total. Compensation of current officers, directors and key employees was $119k (10% of expenses). Other salaries and wages came to $381k. At year end it held assets of $443k against liabilities of $267k, net assets of $176k. It reported 8 employees.