Ncinnovation Inc

Analysis

Ncinnovation Inc is a registered charity in United States, based in Durham, NC. It received its IRS tax-exemption ruling in August 2020, 6 years ago. Its declared purposes cover education, which this site groups under education and training. 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 2023, Ncinnovation Inc reported income of $10.3m and spending of $2.2m, leaving 79% of income unspent that year. Across the 3 years on record, from December 2021 to June 2023, income grew from $3.6m to $10.3m (+186%), an average of +69% a year. The sharpest change came in the year to June 2023, when income rose by 488%. Over the whole period it spent 18% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Ncinnovation Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within NC. Charities of a similar size with the same main cause include Citizens Academy III ($10.3m), Little Peoples School Inc ($10.3m) and Liberty Classical Academy ($10.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $630k (29% of expenses). Other salaries and wages came to $339k. It paid $3,500 in professional fundraising fees. At year end it held assets of $18.4m against liabilities of $19k, net assets of $18.4m. It reported 2 employees.