INITIATIVE FOR A COMPETITIVE INNER CITY INC

Financials

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2025, highest compensation first.

Address and contacts

Address (IRS master file)

PO BOX 191297, ROXBURY, MA 02119-0025

In care of

% WHITNEY R TILSON

Principal officer (990 for 2025)

STEVE GROSSMAN, PO BOX 191297, ROXBURY, MA 02119

Signed the 990

STEVE GROSSMAN, CEO

Phone

(617) 238-1740

Website

WWW.ICIC.ORG

Return prepared by

AAFCPAS INC

Mission

ICIC DRIVES INCLUSIVE ECONOMIC PROSPERITY IN UNDER-RESOURCED COMMUNITIES THROUGH INNOVATIVE RESEARCH AND PROGRAMS TO CREATE JOBS, INCOME, AND WEALTH FOR LOCAL RESIDENTS.

Program accomplishments

• 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.
  Expenses $7,104,540 · grants $785,095
• 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.
  Expenses $701,821 · revenue $142,500

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

IRS record

EIN

13-3772904

Tax-exempt status

501(c)(3): Charitable, religious, educational or scientific organization

Foundation status

Publicly supported organization (170(b)(1)(A)(vi))

Donations deductible (Pub 78)

Public charity, 50% deduction limit

Exempt since

1995

Accounting year ends

December

Files

Form 990 or 990-EZ

Category (NTEE)

Housing and shelter (L50)

Assets (IRS master file)

$14,242,666

Income (IRS master file)

$11,230,067

Filing history

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 13-3772904).

Questions about INITIATIVE FOR A COMPETITIVE INNER CITY INC

What is the EIN of INITIATIVE FOR A COMPETITIVE INNER CITY INC?

The employer identification number (EIN) of INITIATIVE FOR A COMPETITIVE INNER CITY INC is 13-3772904.

Is INITIATIVE FOR A COMPETITIVE INNER CITY INC tax-exempt?

Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1995.

Are donations to INITIATIVE FOR A COMPETITIVE INNER CITY INC tax-deductible?

Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).

Which annual return does INITIATIVE FOR A COMPETITIVE INNER CITY INC file?

Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.

When is the next return of INITIATIVE FOR A COMPETITIVE INNER CITY INC due?

The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.

When did INITIATIVE FOR A COMPETITIVE INNER CITY INC last file with the IRS?

The latest return in the IRS public files is the 990 for the year ended December 2025.

Who is the principal officer of INITIATIVE FOR A COMPETITIVE INNER CITY INC?

The 990 for the year ended December 31, 2025 names STEVE GROSSMAN.

Who are the officers and directors of INITIATIVE FOR A COMPETITIVE INNER CITY INC?

The 990 for the year ended December 31, 2025 lists 29 people; 8 received compensation from the organization, the highest $419,650 (STEVE GROSSMAN, CHIEF EXECUTIVE OFFICER).

How much revenue does INITIATIVE FOR A COMPETITIVE INNER CITY INC have?

On its 990 for the year ended December 31, 2025 it reported revenue of $9,735,685, expenses of $9,634,690 and total assets of $14,242,666 at year end.

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