Novella Center for Entrepreneurship by Conscious Venture Lab Inc

Analysis

Novella Center for Entrepreneurship by Conscious Venture Lab Inc is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in June 2022, 4 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, Novella Center for Entrepreneurship by Conscious Venture Lab Inc reported income of $510k and spending of $445k, spending 87% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $160k to $510k (+219%), an average of +219% a year. The sharpest change came in the year to December 2023, when income rose by 219%. Over the whole period it spent 76% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Novella Center for Entrepreneurship by Conscious Venture Lab Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 70th percentile within MD. Charities of a similar size with the same main cause include Somosvc ($510k), Atlantic Avenue District Management Association Inc ($510k) and Science Technology and Research Institute of Delaware ($510k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 2.5% of the total. At year end it held assets of $164k against liabilities of $0, net assets of $164k.