Rhode Island Urban Business Incubator Inc
Public records show a registered, tax-exempt organization in good standing.
What it says it does
To provide the general public and small businesses, with less than 50 employees, with business development assistance, through education, training and consultation.
- Income
- $238,270
- Spending
- $239,223
- Spent on programs
- 90%
- Reserves
- 1.4 months of spending
- Largest source of income
- government grants, 98%
- Employees
- 2
- Volunteers
- 10
- Highest pay
- $77,419, executive director
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Fair: 53 out of 100. Higher than 24% of charities in its peer group (community improvement, under $250k).
Reserves
10 of 35Spendable reserves would cover 1.4 months of spending.
Debt
5 of 20It owes 64% of what it owns.
Living within its means
8 of 15Spending exceeded income by 0% of income.
Income trend
15 of 15Income rose 55% on the year before.
Spending floor
15 of 1590% of spending went to programs and raising each dollar of donations cost 3 cents.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Good: 76 out of 100. Higher than 63% of charities in its peer group (community improvement, under $250k).
Independent board
25 of 258 of 8 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
0 of 8Reports no written whistleblower policy.
Record keeping policy
0 of 7Reports no written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
0 of 5Reports no independent review process for its chief executive's pay.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (1)
- Urban Ventures Inc. provided micro-businesses with technical assistance and mentorship. Advocacy, and information to help them start up and or grow.Assists entrepreneurs and microbusinesses in developing their businesses through consultation, training and education, helping them through the different stages: to think deeply about their business ideas, to implement/ launch them, to achieve profitability, and to grow.We have provided technical assistance to 63 ventures, comprised of a diverse group. 73.8% of our clients were Women. (See Schedule O).36.5% of the ventures we have been working with are in the IDEA (Development) stage, 22.2% are in the LAUNCH stage. 11.1% are in the PROFITABILITY stage, where we are working with them on generating increased revenues and attaining & maintaining sustainable profit levels. 30.2% of the ventures we are continuing to assist are now in the GROWTH stage.The demographics of the clients that we have assisted during this period are as follows:51.2% of our clients were Hispanic; 37.5% African; 3.8% African American;3.8% Cape Verdean; 2.5% Caribbean (Not Hispanic); 1.3% Caucasian.61.9% of the businesses were Startups and 38.1% were Existing businesses representing a wide-range of industries which included: Child Day Care, Adult Day Care, Food Manufacturing, Mobile Food Services, Farming, Construction, Handyman Services, Pest Control, Independent Artist, Fashion Design, Life Coaching, Book Publishing, Public Relations, Accounting Services, Home Health Care, Group Home Services, Behavioral Health Services, Health Clinic Services, Non-medical Transportation, Residential & Commercial Cleaning Services, AI SaaS Venture.During this period: Job Growth: Businesses that we have assisted have reported new jobs created during this period. Revenue Growth: $16.7 Million in revenue growth was reported for this period.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending June 2025.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since July 2001.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.