Revtech Labs Foundation

Analysis

Revtech Labs Foundation is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in November 2020, 6 years ago. Its declared purposes cover employment, 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, Revtech Labs Foundation reported income of $1.1m and spending of $876k, spending 81% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $2.2m to $1.1m (-52%), an average of -52% a year. The sharpest change came in the year to December 2023, when income dropped by 52%. Over the whole period it spent 26% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Revtech Labs Foundation sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 81st percentile within NC. Charities of a similar size with the same main cause include Cuban Club Foundation Inc ($1.1m), Seeed Inc ($1.1m) and Newbo City Market ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $2.5m against liabilities of $56k, net assets of $2.4m.