Beloved Community Incubator Inc

Analysis

Beloved Community Incubator Inc is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in October 2020, 6 years ago. Its declared purposes cover employment, 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, Beloved Community Incubator Inc reported income of $1.1m and spending of $1.0m, spending 92% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $389k to $1.1m (+192%), an average of +71% a year. The sharpest change came in the year to December 2022, when income rose by 128%. Over the whole period it spent 88% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Beloved Community Incubator Inc 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 57th percentile within DC. Charities of a similar size with the same main cause include Community Cycles ($1.1m), East Liberty Development Incorporated ($1.1m) and Hope Plaza Inc ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% and program service revenue 0.7% of the total. Compensation of current officers, directors and key employees was $261k (25% of expenses). Other salaries and wages came to $104k. At year end it held assets of $313k against liabilities of $0, net assets of $313k. It reported 9 employees.