Initiative for a Competitive Inner City Inc
Public records show a registered, tax-exempt organization in good standing.
What it says it does
ICIC DRIVES INCLUSIVE ECONOMIC PROSPERITY IN UNDER-RESOURCED COMMUNITIES THROUGH INNOVATIVE RESEARCH AND PROGRAMS TO CREATE JOBS, INCOME, AND WEALTH FOR LOCAL RESIDENTS.
- Income
- $9.7 million
- Spending
- $9.6 million
- Spent on programs
- 81%
- Reserves
- 15.1 months of spending
- Largest source of income
- donations and private grants, 85%
- Employees
- 64
- Volunteers
- 16
- Highest pay
- $433,650, chief executive officer
Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Strong: 92 out of 100. Higher than 84% of charities in its peer group (housing, $1m to $10m).
Reserves
35 of 35Spendable reserves would cover 15.1 months of spending.
Debt
20 of 20It owes 4% of what it owns.
Living within its means
12 of 15Income exceeded spending by 1% of income.
Income trend
10 of 15Income fell 1% on the year before.
Spending floor
15 of 1581% of spending went to programs and raising each dollar of donations cost 8 cents.
Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Strong: 100 out of 100. Higher than 70% of charities in its peer group (housing, $1m to $10m).
Independent board
25 of 2516 of 17 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a 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
5 of 5Sets its chief executive's pay through independent review and comparison.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending December 31, 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 (2)
- $7.1 million spent. URBAN BUSINESS INITIATIVES:THE PROGRAM CONSISTS OF EIGHT INITIATIVES: GOLDMAN SACHS 10,000 SMALL BUSINESSES, GOLDMAN SACHS BLACK IN BUSINESS, INNER CITY CAPITAL CONNECTIONS, CULTIVATE SMALL BUSINESS, INNER CITY 100 AWARD, BUILDING FOR GROWTH, AI INITIATIVE AND MANUFACTURING ACCELERATOR PROGRAM. PROGRAM I, INITIATIVE 1. GOLDMAN SACHS 10,000 SMALL BUSINESSESICIC PARTNERS WITH GOLDMAN SACHS TO RECRUIT AND SELECT HIGH-POTENTIAL ENTREPRENEURS FOR 10,000 SMALL BUSINESSES. THIS INITIATIVE HELPS SMALL BUSINESS OWNERS CREATE JOBS AND ECONOMIC OPPORTUNITIES BY PROVIDING THEM WITH GREATER ACCESS TO BUSINESS EDUCATION, FINANCIAL CAPITAL AND BUSINESS SUPPORT SERVICES.TO DATE, THE PROGRAM HAS SERVED OVER 17,000 SMALL BUSINESSES FROM ALL 50 STATES, DC AND PUERTO RICO. GRADUATES OF THE PROGRAM HAVE SEEN INCREASED REVENUE AND 84% COLLABORATE WITH OTHER ALUMNI.PROGRAM I, INITIATIVE 2. GOLDMAN SACHS BLACK IN BUSINESSSINCE 2009, ICIC HAS SERVED AS THE NATIONAL OUTREACH AND RECRUITMENT PARTNER FOR THE GOLDMAN SACHS 10,000 SMALL BUSINESSES INITIATIVE. THE PARTNERSHIP EXPANDED ITS REACH TO BETTER SERVE SOLE PROPRIETORS WITH THE CREATION OF THE GOLDMAN SACHS ONE MILLION BLACK WOMEN: BLACK IN BUSINESS PROGRAM.GOLDMAN SACHS BLACK IN BUSINESS IS A FREE BUSINESS EDUCATION PROGRAM DEDICATED TO EQUIPPING SOLE PROPRIETORS WITH THE TOOLS NECESSARY TO TURN THEIR BUSINESS POTENTIAL INTO BUSINESS GROWTH. THE PROGRAM HELPS SOLE PROPRIETORS LEARN HOW TO PRICE THEIR PRODUCT OR SERVICE, HIRE THEIR FIRST EMPLOYEE, UNDERSTAND THEIR FINANCES, AND SO MUCH MORE. THE CURRICULUM WAS DESIGNED IN PARTNERSHIP WITH THE NYU STERN SCHOOL OF BUSINESS AND IS DELIVERED THROUGH BOTH IN-PERSON SESSIONS AT GOLDMAN SACHS IN NYC AND VIRTUAL SESSIONS OVER 12 WEEKS, BOTH AT NO COST TO PARTICIPANTS ACROSS THE COUNTRY. THE PROGRAM HAS GRADUATED OVER 1,600 PARTICIPANTS ACROSS 8 COHORTS SINCE ITS LAUNCH IN MAY 2022.PROGRAM I, INITIATIVE 3. INNER CITY CAPITAL CONNECTIONSINNER CITY CAPITAL CONNECTIONS (ICCC) IS A TUITION-FREE EXECUTIVE LEADERSHIP TRAINING PROGRAM DESIGNED TO HELP ESTABLISHED SMALL AND MEDIUM SIZED BUSINESSES IN UNDER-RESOURCED COMMUNITIES BUILD CAPACITY AND RESILIENCE FOR SUSTAINABLE LONG-TERM REVENUE GROWTH, PROFITABILITY AND LOCAL JOB CREATION. ICCC PROVIDES THREE CRITICAL ELEMENTS: CAPACITY-BUILDING EDUCATION, ONE-ON-ONE COACHING AND CONNECTIONS TO CAPITAL AND CAPITAL PROVIDERS.SINCE 2005, THE PROGRAM HAS SERVED MORE THAN 7,700 BUSINESSES. THOSE BUSINESSES HAVE AVERAGED 174% REVENUE GROWTH, CREATED 29,000 NEW JOBS, AND RAISED OVER $2.6 BILLION IN CAPITAL SINCE PARTICIPATING IN ICCC.PROGRAM I, INITIATIVE 4. CULTIVATE SMALL BUSINESSSANTANDER'S AWARD-WINNING CULTIVATE SMALL BUSINESS HELPS EARLY-STAGE ENTREPRENEURS BUILD AND SUSTAIN BUSINESSES IN THE FOOD INDUSTRY, WITH A FOCUS ON HISTORICALLY UNDERSERVED FOUNDERS IN LOW-TO-MODERATE INCOME COMMUNITIES. CULTIVATE IS A FREE 12-WEEK MBA-STYLE PROGRAM THAT PROVIDES A CUSTOMIZED CURRICULUM AND ACCESS TO CAPITAL THROUGH LIVE VIRTUAL CLASSES. SUCCESSFUL GRADUATES WILL LEAVE THE PROGRAM WITH A FULLY FORMULATED BUSINESS PLAN AND PITCH, A STRONG GRASP ON THEIR TARGET MARKET, FINANCIALS AND GROWTH GOALS, AND UP TO $20,000 IN CAPITAL GRANTS.PROGRAM I, INITIATIVE 5. INNER CITY 100THE INNER CITY 100 (IC100) IS AN ANNUAL AWARD THAT RECOGNIZES THE 100 FASTEST-GROWING COMPANIES IN UNDER-RESOURCED COMMUNITIES ACROSS THE NATION. THE AWARD BENEFITS INCLUDE NATIONAL AND LOCAL MEDIA COVERAGE, EXCLUSIVE NETWORKING OPPORTUNITIES, AND THE OPPORTUNITY TO BE MATCHED WITH AN EXPERT BUSINESS MENTOR. THE 2025 IC100 WINNERS REPRESENTED 19 INDUSTRIES AND 55 CITIES AND EXPERIENCED AN AVERAGE 4-YEAR REVENUE GROWTH OF 439%.PROGRAM I, INITIATIVE 6, BUILDING FOR GROWTHBUILDING FOR GROWTH (BFG) IS A NATIONAL NO-COST EXECUTIVE EDUCATION PROGRAM THAT HELPS CONSTRUCTION CONTRACTORS BUILD CAPACITY AND DEVELOP SUSTAINABLE GROWTH STRATEGIES. THE BFG PROGRAM LAUNCHED ITS INAUGURAL COHORT IN 2022, AND SINCE THEN HAS SERVED 342 CONSTRUCTION FIRMS ACROSS 35 STATES. BFG COMBINES 18 WEEKLY CLASSES, DEDICATED TECHNICAL ASSISTANCE, AND LONG-TERM MENTORSHIP. IN 2025, WE EXPANDED TO 2 HYBRID COHORTS, IN BOSTON AND IN NEW JERSEY, IN ADDITION TO OUR TRADITIONAL VIRTUAL NATIONAL COHORT.PROGRAM I, INITIATIVE 7, ARTIFICIAL INTELLIGENCE INITIATIVEICIC AND INTUIT LAUNCHED THE INTUIT MORE WITH AI TOUR IN 2025, WHICH INCLUDED SIX HALF-DAY EVENTS HELD ACROSS THE U.S. THAT PROVIDED 350+ SMALL AND MID-MARKET BUSINESSES WITH ACTIONABLE INSIGHTS AND HANDS-ON EXPERIENCE ON A RANGE OF SMALL BUSINESS AI TOOLS. THE CURRICULUM WAS INFORMED BY ICIC'S EXTENSIVE RESEARCH, AND INCLUDED PRACTICAL APPLICATIONS, BENEFITS, AND RESPONSIBLE IMPLEMENTATION STRATEGIES, ALL AT NO COST TO ATTENDEES. IN ADDITION, WE ARE INCORPORATING A 90-MINUTE VERSION OF THE TOUR CURRICULUM INTO OUR EXISTING PROGRAMS.PROGRAM I, INITIATIVE 8, MANUFACTURING ACCELERATOR PROGRAM THE MANUFACTURING ACCELERATOR PROGRAM (MAP) IS A NO-COST EXECUTIVE EDUCATION INITIATIVE DESIGNED TO HELP SMALL MANUFACTURING BUSINESSES ACHIEVE SUSTAINABLE GROWTH. MAP'S INAUGURAL COHORT LAUNCHED IN 2025 WITH 60 BUSINESSES ACROSS 19 STATES. DEVELOPED AND TAUGHT BY INDUSTRY EXPERTS AND PRACTITIONERS, MAP IS A PROGRAM BUILT BY MANUFACTURERS, FOR MANUFACTURERS. IT EQUIPS PARTICIPANTS WITH THE TOOLS THEY NEED THROUGH 12 WEEKLY CLASSES TO COMPETE, INNOVATE, AND SCALE EFFECTIVELY THROUGH EXPERT-LED CLASSES AND PEER-TO-PEER NETWORKING.
- $701,821 spent. RESEARCH:ICIC'S RESEARCH AGENDA HAS POSITIONED THE ORGANIZATION AS THE LEADING AND MOST TRUSTED RESOURCE IN THE ECONOMIES OF UNDER-RESOURCED COMMUNITIES. OUR RESEARCH FOCUSES ON THE ECONOMIC AND SOCIAL DEVELOPMENT OF UNDER-RESOURCED COMMUNITIES, INDUSTRIES AND CLUSTERS THAT PROVIDE GOOD JOBS FOR PEOPLE WITHOUT COLLEGE DEGREES, SMALL BUSINESSES, ANCHOR INSTITUTIONS, AND PROGRAM EVALUATION. WE USE QUANTITATIVE AND QUALITATIVE DATA TO IDENTIFY THE COMPETITIVE ADVANTAGES AND CHALLENGES OF UNDER-RESOURCED COMMUNITIES. WE BELIEVE THAT COMMUNITY AND ECONOMIC DEVELOPMENT SHOULD BE INCLUSIVE AND EQUITABLE IN THE PROCESS AS WELL AS IN OUTCOMES.
Source: Form 990 for the year ending December 31, 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 October 13, 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 November 6, 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 October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2025.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since March 1995.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 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 November 4, 2026.
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