Formerly Incarcerated College Graduates Network

Analysis

Formerly Incarcerated College Graduates Network is a registered charity in United States, based in Durham, NC. It received its IRS tax-exemption ruling in October 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Formerly Incarcerated College Graduates Network reported income of $780k and spending of $400k, leaving 49% of income unspent that year. Across the 2 years on record, from June 2022 to June 2023, income grew from $156k to $780k (+401%), an average of +401% a year. The sharpest change came in the year to June 2023, when income rose by 401%. Over the whole period it spent 45% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Formerly Incarcerated College Graduates Network sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 77th percentile within NC. Charities of a similar size with the same main cause include Next Century Inc ($780k), Society of Ob-Gyn Hospitalists ($780k) and Salisbury Neighborhood Housing Service Inc ($780k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $158k. At year end it held assets of $522k against liabilities of $4,566, net assets of $517k. It reported 1 employees.