Boston-Thurmond Innovation Network

Analysis

Boston-Thurmond Innovation Network is a registered charity in United States, based in Winston Salem, NC. It received its IRS tax-exemption ruling in August 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Boston-Thurmond Innovation Network reported income of $1.1m and spending of $566k, leaving 47% of income unspent that year. Across the 3 years on record, from June 2021 to June 2023, income grew from $177k to $1.1m (+506%), an average of +146% a year. The sharpest change came in the year to June 2022, when income rose by 167%. Over the whole period it spent 47% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Boston-Thurmond Innovation Network sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 81st percentile within NC. Charities of a similar size with the same main cause include Amplify Louisville Inc ($1.1m), Forward Cities Inc ($1.1m) and Up - Ipade Foundation Inc ($1.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $998k against liabilities of $9,396, net assets of $988k.