Sync Space Entrepreneur Center

Analysis

Sync Space Entrepreneur Center is a registered charity in United States, based in Kingsport, TN. 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 June 2024, Sync Space Entrepreneur Center reported income of $641k and spending of $565k, spending 88% of its income. Across the 4 years on record, from June 2021 to June 2024, income grew from $551k to $641k (+16%), an average of +5.2% a year. The sharpest change came in the year to June 2023, when income rose by 41%. Over the whole period it spent 101% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Sync Space Entrepreneur Center sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 76th percentile within TN. Charities of a similar size with the same main cause include Kaunalewa ($641k), Metropolitan Housing Development Corporation ($642k) and United Urban Indian Council Inc ($641k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $125k (22% of expenses). Other salaries and wages came to $113k. At year end it held assets of $217k against liabilities of $46k, net assets of $171k. It reported 4 employees.