Philly Startup Leaders Inc

Analysis

Philly Startup Leaders Inc is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in June 2018, 8 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Philly Startup Leaders Inc reported income of $105k and spending of $161k, spending 153% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $630k to $105k (-83%), an average of -36% a year. The sharpest change came in the year to December 2023, when income dropped by 49%. Over the whole period it spent 99% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Philly Startup Leaders Inc sits at the 37th percentile: it is larger than about 36% of them. Against every charity in United States with reported income it ranks in the 38th percentile, and in the 36th percentile within PA. Charities of a similar size with the same main cause include Ogema Area Community Club ($105k), Mohawk Valley Latino Association ($105k) and Sent Ones Inc ($105k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 67% and program service revenue 33% of the total. At year end it held assets of $37k against liabilities of $21k, net assets of $16k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.