Nonprofit · EIN 81-0727619
RUSSELL INNOVATION CENTER FOR ENTREPRENEURS INC
Tax-exempt · ATLANTA, GA 30363
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $12,084,148 | $12,093,842 | -$9,694 | $28,132,495 | $6,437,207 | $21,695,288 |
| December 31, 2023 | 990 | $17,312,188 | $9,337,231 | $7,974,957 | $25,514,686 | $3,809,704 | $21,704,982 |
| December 31, 2022 | 990 (amended) | $3,305,899 | $4,423,665 | -$1,117,766 | $20,586,387 | $6,856,362 | $13,730,025 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $10,945,741
- of which government grants
- $1,491,353
- Program service revenue
- $1,131,512
- Investment income
- $6,895
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $125,000
- Compensation of officers, directors and key employees
- $643,844
- Other salaries and wages
- $2,962,490
- Salaries, compensation and benefits (total)
- $3,606,334
- Professional fundraising fees
- $0
- Legal fees
- $82,961
- Accounting fees
- $157,150
- Occupancy
- $1,239,064
- Travel
- $171,393
- Depreciation
- $931,339
- Program services (functional)
- $8,615,381
- Management and general (functional)
- $2,669,555
- Fundraising (functional)
- $808,906
Balance sheet and other
- Total assets, start of year
- $25,514,686
- Total assets, end of year
- $28,132,495
- Total liabilities, end of year
- $6,437,207
- Net assets, end of year
- $21,695,288
- Land, buildings and equipment
- $23,511,993
- Net assets without donor restrictions
- $10,976,548
- Net assets with donor restrictions
- $10,718,740
- Gross receipts
- $12,084,148
- Employees
- 55
- Year formed
- 2015
- State of legal domicile
- GA
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, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JAMES BAILEY | President & CEO Officer | 40 | $282,200 |
| SHAWN GRAHAM | COO Officer | 40 | $190,730 |
| MONICA DELORES HOOKS | CHIEF EXPERIENCE OFFICER | 40 | $170,914 |
| BURUNDA PRINCE-JONES | COO | 40 | $104,615 |
| H JEROME RUSSELL JR | Chairman Trustee or director, Officer | 5 | $0 |
| SIG MOSLEY | Director Trustee or director | 5 | $0 |
| ANN CRAMER | Director Trustee or director | 5 | $0 |
| CYNTHIA DAY | Director Trustee or director | 5 | $0 |
| DONATA RUSSELL ROSS | Secretary Trustee or director, Officer | 5 | $0 |
| SYLVIA RUSSELL | Director Trustee or director | 5 | $0 |
| CARLA CHANEY | Director Trustee or director | 5 | $0 |
| ALFRED MCRAE | Director Trustee or director | 5 | $0 |
| ROBERT BENSON | Director Trustee or director | 5 | $0 |
| DALLAS SMITH | Director Trustee or director | 5 | $0 |
| VIVIAN GREENTREE | Director Trustee or director | 5 | $0 |
990 for the year ended December 31, 2023: 14 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JAMES BAILEY | President & CEO Officer | 40 | $197,200 |
| BURUNDA PRINCE | CHIEF OPERATING OFFICER | 40 | $170,000 |
| H JEROME RUSSELL JR | Chairman Trustee or director, Officer | 5 | $0 |
| SIG MOSLEY | Director Trustee or director | 5 | $0 |
| ANN CRAMER | Director Trustee or director | 5 | $0 |
| CYNTHIA DAY | Director Trustee or director | 5 | $0 |
| AL MCRAE | VICE CHAIR Trustee or director | 5 | $0 |
| DONATA RUSSELL ROSS | Secretary Trustee or director, Officer | 5 | $0 |
| SYLVIA RUSSELL | Director Trustee or director | 5 | $0 |
| CARLA CHANEY | Director Trustee or director | 5 | $0 |
| ALFRED MCRAE | Director Trustee or director | 5 | $0 |
| ROBERT BENSON | Director Trustee or director | 5 | $0 |
| DALLAS SMITH | Director Trustee or director | 5 | $0 |
| VIVIAN GREENTREE | Director Trustee or director | 5 | $0 |
990 for the year ended December 31, 2022: 10 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JAMES BAILEY | President & CEO Officer | 40 | $197,200 |
| BURUNDA PRINCE | CHIEF OPERATING OFFICER | 40 | $170,000 |
| H JEROME RUSSELL JR | Chairman Trustee or director, Officer | 5 | $0 |
| SIG MOSLEY | Director Trustee or director | 5 | $0 |
| ANN CRAMER | Director Trustee or director | 5 | $0 |
| CYNTHIA DAY | Director Trustee or director | 5 | $0 |
| DONATA RUSSELL ROSS | Secretary Trustee or director, Officer | 5 | $0 |
| SYLVIA RUSSELL | Director Trustee or director | 5 | $0 |
| CARLA CHANEY | Director Trustee or director | 5 | $0 |
| ALFRED MCRAE | Director Trustee or director | 5 | $0 |
Address and contacts
- Address (IRS master file)
- 171 17TH ST NW STE 1625, ATLANTA, GA 30363-1076
- Principal officer (990 for 2024)
- JAMES BAILEY, 504 FAIR STREET SW, ATLANTA, GA 30313
- Signed the 990
- JAMES BAILEY, President & CEO
- Website
- WWW.RUSSELLCENTER.ORG
- Return prepared by
- Seay & Weissinger LLC
Mission
TO EMPOWER ENTREPRENEURS AND INNOVATORS TO CREATE, INVENT, AND LEARN WHILE BEING ENGAGED AND MOTIVATED TO DEVELOP GAME-CHANGING NEW IDEAS TO PROMOTE ECONOMIC EMPOWERMENT.
Program accomplishments
- The Russell Innovation Center for Entrepreneurs (RICE) serves as a mission-driven collaborative hub dedicated to empowering Atlantas entrepreneurial community. Since opening in 2019 with an initial cohort of 100 Entrepreneurs in Residence, RICE has evolved into a 40,000-square-foot world-class facility located in Atlanta's historic Castleberry Hill district. This dynamic ecosystem connects both aspiring and established entrepreneurs through a customized curriculum and immersive corporate experiences. RICE actively fosters relationships between entrepreneurs and capital sources, providing essential resources to support the growth of Atlanta's top entrepreneurial talent. By offering a supportive environment tailored to the needs of its members, RICE promotes sustainable business development, economic inclusion, and advancement of entrepreneurial skills, aligned with its mission to uplift and empower diverse business leaders.Expenses $8,615,381
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.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 81-0727619
- 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
- 2016
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S40)
- Assets (IRS master file)
- $28,132,495
- Income (IRS master file)
- $12,084,148
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $12,084,148 | $12,093,842 | $28,132,495 | IRS |
| 990 | December 2023 | $17,312,188 | $9,337,231 | $25,514,686 | XML |
| 990 | December 2022 | $3,305,899 | $4,423,665 | $20,586,387 | XML |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
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 81-0727619).
Questions about RUSSELL INNOVATION CENTER FOR ENTREPRENEURS INC
- What is the EIN of RUSSELL INNOVATION CENTER FOR ENTREPRENEURS INC?
- The employer identification number (EIN) of RUSSELL INNOVATION CENTER FOR ENTREPRENEURS INC is 81-0727619.
- Is RUSSELL INNOVATION CENTER FOR ENTREPRENEURS INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2016.
- Are donations to RUSSELL INNOVATION CENTER FOR ENTREPRENEURS INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does RUSSELL INNOVATION CENTER FOR ENTREPRENEURS 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 RUSSELL INNOVATION CENTER FOR ENTREPRENEURS INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did RUSSELL INNOVATION CENTER FOR ENTREPRENEURS INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of RUSSELL INNOVATION CENTER FOR ENTREPRENEURS INC?
- The 990 for the year ended December 31, 2024 names JAMES BAILEY.
- Who are the officers and directors of RUSSELL INNOVATION CENTER FOR ENTREPRENEURS INC?
- The 990 for the year ended December 31, 2024 lists 15 people; 4 received compensation from the organization, the highest $282,200 (JAMES BAILEY, President & CEO).
- How much revenue does RUSSELL INNOVATION CENTER FOR ENTREPRENEURS INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $12,084,148, expenses of $12,093,842 and total assets of $28,132,495 at year end.
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