Well Incubator

Analysis

Well Incubator is a registered charity in United States, based in Louisville, KY. It received its IRS tax-exemption ruling in July 2022, 4 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, Well Incubator reported income of $92k and spending of $95k, spending 104% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $150k to $92k (-39%), an average of -39% a year. The sharpest change came in the year to December 2023, when income dropped by 39%. Over the whole period it spent 93% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Well Incubator sits at the 33rd percentile: it is larger than about 33% of them. Against every charity in United States with reported income it ranks in the 35th percentile, and in the 34th percentile within KY. Charities of a similar size with the same main cause include Fort Lauderdale Rotary 1090 Foundation Inc ($92k), Adams County Travel and Visitors Bureau ($92k) and Cumberland Region Tomorrow ($92k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 94% and program service revenue 5.8% of the total. At year end it held assets of $94k against liabilities of $97k, net assets of -$3,427.