Network Connect Inc

Analysis

Network Connect Inc is a registered charity in United States, based in Wilmington, DE. It received its IRS tax-exemption ruling in December 2019, 7 years ago. Its declared purposes cover youth development, which this site groups under children and youth 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 December 2023, Network Connect Inc reported income of $3.0m and spending of $2.6m, spending 87% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $1.0m to $3.0m (+195%), an average of +72% a year. The sharpest change came in the year to December 2022, when income rose by 86%. Over the whole period it spent 87% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Network Connect Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 89th percentile within DE. Charities of a similar size with the same main cause include Institute for the Development of African American Youth Inc ($3.0m), Dreaming Out Loud Foundation ($3.0m) and Congaree Foundation ($3.0m).

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 $254k (9.6% of expenses). Other salaries and wages came to $1.0m. It paid $4,736 in professional fundraising fees. At year end it held assets of $855k against liabilities of $7,101, net assets of $847k.