Regenesis Institute

Analysis

Regenesis Institute is a registered charity in United States, based in Spartanburg, SC. It received its IRS tax-exemption ruling in January 2023, 3 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, Regenesis Institute reported income of $3.7m and spending of $1.3m, leaving 66% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $1.3m to $3.7m (+178%), an average of +178% a year. The sharpest change came in the year to December 2023, when income rose by 178%. Over the whole period it spent 43% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Regenesis Institute sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 93rd percentile within SC. Charities of a similar size with the same main cause include Indianapolis Electrical Joint Apprenticeship Committee ($3.7m), Rise Academy ($3.7m) and Rainier Beach Community Empowerment ($3.7m).

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 $205k (16% of expenses). Other salaries and wages came to $392k. At year end it held assets of $2.9m against liabilities of $27k, net assets of $2.9m.