Boost Pad Inc

Analysis

Boost Pad Inc is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in September 2020, 6 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, Boost Pad Inc reported income of $230k and spending of $213k, spending 92% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $207k to $230k (+11%), an average of +5.5% a year. The sharpest change came in the year to December 2023, when income rose by 23%. Over the whole period it spent 75% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Boost Pad Inc sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 55th percentile within NC. Charities of a similar size with the same main cause include Requity Foundation Inc ($230k), Northwest Ohio Construction Education Center ($230k) and Parkville Community Development Corporation ($230k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $73k (34% of expenses). Other salaries and wages came to $24k. It paid $1,422 in professional fundraising fees. At year end it held assets of $123k against liabilities of $4,704, net assets of $118k. It reported 8 employees.