Boost Pad Inc
Public records show a registered, tax-exempt organization in good standing.
What it says it does
The Boost Pad equips emerging entrepreneurs with the strategic guidance and support needed to develop innovative solutions build sustainable enterprises and advance economic mobility throughout Charlotte.
- Income
- $137,802
- Spending
- $219,756
- Spent on programs
- 87%
- Reserves
- 0.6 months of spending
- Largest source of income
- donations and private grants, 95%
- Employees
- 3
- Volunteers
- 45
- Highest pay
- $37,600, co-exec dir
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
Weak: 29 out of 100. Higher than 8% of charities in its peer group (community improvement, under $250k).
Reserves
4 of 35Spendable reserves would cover 0.6 months of spending.
Debt
5 of 20It owes 61% of what it owns.
Living within its means
0 of 15Spending exceeded income by 59% of income.
Income trend
5 of 15Income fell 20% on the year before.
Spending floor
15 of 1587% of spending went to programs and raising each dollar of donations cost 1 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
Good: 76 out of 100. Higher than 63% of charities in its peer group (community improvement, under $250k).
Independent board
25 of 259 of 9 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 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 (3)
- $100,000 spent. Next Level Accelerator Cohort Program flagship accelerator | In 2025 The Boost Pads Next Level Accelerator produced strong measurable outcomes for under resourced founders in Charlotte NC. Across Cohort 10 and Cohort 11 52 individuals applied 35 were accepted 31 enrolled and 25 completed the accelerator resulting in a completion rate above 80%. Participants were 80% Black 64% women and 76% from low to moderate income households annual income at or below 63,000 meaning the program reached the very entrepreneurs least likely to access bank financing or traditional accelerator support. At baseline participating businesses reported 196,000 in prior 12 month revenue and 15 existing employees; post program projections estimate 1,527,100 in net revenue and 78 expected workers within 12 months. With an approximate combined program cost of 120,000 the accelerator achieved an estimated cost of 4,800 per graduate 1,538 per projected job and a 12.7:1 revenue leverage ratio about 0.08 in program cost per projected revenue dollar. Participants reported a Net Promoter Score of 91 and 90% reported increased confidence in their ability to grow their business a leading indicator of risk tolerance customer acquisition and investment readiness. To generate these outcomes The Boost Pad operates the Next Level Accelerator Cohort Program a 14 week flagship accelerator followed by continued support. The program is designed for low to moderate income Black and women founders building income producing job creating businesses. Each cohort receives a structured curriculum in business model development revenue strategy and pricing financial literacy customer acquisition and operational readiness. Learning is delivered through weekly workshops cohort discussions and 1:1 office hours with an entrepreneur in residence and subject matter experts. Founders also gain access to mentors pro bono legal resources and a peer network that extends beyond graduation. These activities directly advance the organizations exempt purpose by using entrepreneurship as a pathway to economic mobility job creation and stronger neighborhood economies.
- $82,828 spent. Entrepreneurial Mindset & Founders Training | In 2025 The Boost Pads education and community building programs deepened founders skills and long term success beyond the accelerator cycle. Founders received 590 hours of entrepreneur in residence training and advisory support attended 366 individual networking events and participated in an Access to Capital convening with 186 attendees. Across programs 90% of participants reported increased confidence in their entrepreneurial abilities and the organization recorded a Net Promoter Score of 91 indicating a high level of satisfaction and perceived value. These outcomes show that founders are not only starting businesses but also gaining the mindset networks and support systems needed to sustain and grow them. The Boost Pad achieves this through its Entrepreneurial Mindset & Founders Training and Founder Community & Mentorship programs. Entrepreneurial Mindset & Founders Training offers both live workshops and self paced digital content focused on idea validation business model design financial fundamentals legal and operational readiness and launch planning. The curriculum is specifically tailored for first time and under resourced founders using practical tools and accessible language. The Founder Community & Mentorship program maintains support before during and after the accelerator via peer cohorts alumni engagement and structured mentorship. Founders are matched with advisors and an entrepreneur in residence for individualized guidance and accountability and they are invited to regular networking events with community partners and ecosystem leaders. Together these programs build the entrepreneurial knowledge social capital and long term relationships that undergird sustainable income growth and job creation for low to moderate income founders.
- $8,000 spent. Founder Community Mentorship and Startup Currency Resource Grants | The Boost Pads Startup Currency and capital access initiatives convert philanthropic dollars into direct catalytic resources for under resourced entrepreneurs. In 2025 these efforts helped founders secure grants for critical needs such as legal formation intellectual property protection marketing and infrastructure upgrades. Program case studies demonstrate tangible impact: one founder used a 5,000 Startup Currency award to cover patent related legal costs and subsequently secured a 10,000 NC IDEA Seed grant; another leveraged Boost Pad funding and support to add multiple new client accounts including a major school contract hire employees and reinvest in software and marketing operations. These outcomes illustrate how early flexible capital and targeted support unlock follow on funding business growth and job creation for low wealth founders who are typically excluded from traditional capital markets. To drive this impact The Boost Pad operates Startup Currency Resource Grants and related capital access programs including pitch competitions and the Nitro Fund. Startup Currency provides small flexible grants often awarded through cohort pitch nights to offset high impact startup and growth expenses. Pitch events also connect founders with potential funders customers and professional service providers. The Nitro Fund serves as a venture philanthropy vehicle that deploys startup currency as grants recoverable capital or equity investments to founders demonstrating traction and a path to sustainability initially seeded by corporate sponsorship and grown through donations and potential investment returns. Complementary activities include Access to Capital events grant writing support pro bono legal services and introductions to mission aligned lenders. Collectively these tools ensure that founders not only know how to grow their businesses but also have the financial runway and professional services required to execute advancing the organizations charitable purpose of expanding economic opportunity and job creation in under resourced communities.
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 October 13, 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 September 2020.
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 October 21, 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.