Ripple Effect Entrepreneurs Fund Inc

Analysis

Ripple Effect Entrepreneurs Fund Inc is a registered charity in United States, based in Lakewood, NJ. 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, Ripple Effect Entrepreneurs Fund Inc reported income of $755k and spending of $217k, leaving 71% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $441k to $755k (+71%), an average of +14% a year. The sharpest change came in the year to December 2021, when income rose by 169%. Over the whole period it spent 16% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Ripple Effect Entrepreneurs Fund Inc sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 79th percentile within NJ. Charities of a similar size with the same main cause include Yuba Sutter Economic Development Corporation ($755k), Ralston Economic Development Corp ($755k) and Eb Foundation Inc ($753k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $97k. At year end it held assets of $3.3m against liabilities of $750k, net assets of $2.5m. It reported 4 employees.