Program areas at Rising Tide Capital and Subsidiaries
Rising Tide Capital provided intensive business development services to 1041 entrepreneurs during 2023. 486 people participated in our community business academy, 419 people received advanced technical support and coaching through our business acceleration services program, and 301 people received credit counseling, loan packaging, and access to Capital services through our credit to Capital program.during 2023 these efforts resulted in 37 new business starts, 437 business strengthened/stabilized, 182 business expanded, and the creation of 210 new jobs (107 f.t.e.). Our national program partnerships (npp) program, which licenses the Rising Tide model to partner organizations in communities nationwide to accelerate their development and impact as local entrepreneurship support hubs, supported 16 partner organizations across 14 states in 2023, including the training and launch of 3 new partners (in houston, norfolk and milwaukee). Our partner organizations served a total of 974 entrepreneurs in 2023, bringing the total number of entrepreneurs served by the Rising Tide model in 2023 to 2,033.
Who funds Rising Tide Capital and Subsidiaries
Grants from foundations and other nonprofits
Personnel at Rising Tide Capital and Subsidiaries
| Name | Title | Compensation | Date of data |
|---|
| Alfa Demmellash | Chief Executive Officer and Founder | $250,000 | 2024-10-21 |
| Alex Forrester | Chief Operating Officer and Founder | $229,352 | 2024-10-21 |
| Moses Adegboyega | Chief Finance and Administration Officer | $149,927 | 2022-12-31 |
| Andrea Geroldi | Chief of Staff | $72,433 | 2022-12-31 |
| Dr. Joynicole Martinez | President , Chief of Advancement and Innovation | $160,586 | 2024-10-21 |
| ...and 27 more key personnel |
Financials for Rising Tide Capital and Subsidiaries
| Revenues | FYE 12/2023 | FYE 12/2022 | % Change |
|---|
| Total grants, contributions, etc. | $4,247,802 | $7,301,927 | -41.8% |
| Program services | $566,716 | $550,483 | 2.9% |
| Investment income and dividends | $95,495 | $19,431 | 391.5% |
| Tax-exempt bond proceeds | $0 | $0 | - |
| Royalty revenue | $0 | $0 | - |
| Net rental income | $0 | $240,741 | -100% |
| Net gain from sale of non-inventory assets | $0 | $0 | - |
| Net income from fundraising events | $0 | $0 | - |
| Net income from gaming activities | $0 | $0 | - |
| Net income from sales of inventory | $0 | $0 | - |
| Miscellaneous revenues | $137,512 | $51,933 | 164.8% |
| Total revenues | $5,047,525 | $8,164,515 | -38.2% |
Organizations like Rising Tide Capital and Subsidiaries
| Organization | Type | Location | Revenue |
|---|
| Women's Enterprise Development Center | 501(c)(3) | White Plains, NY | $1,530,145 |
| Skysthelimit Org | 501(c)(3) | Oakland, CA | $3,152,963 |
| The Youngstown Edison Business Incubator | 501(c)(3) | Youngstown, OH | $4,194,472 |
| Washington Community Alliance for Self Help | 501(c)(3) | Seattle, WA | $2,930,364 |
| DivInc | 501(c)(3) | Austin, TX | $1,379,462 |
| Industrial Technology Assistance Corporation (ITAC) | 501(c)(3) | New York, NY | $2,316,835 |
| Greater Boston Manufacturing Partnership Incorporated | 501(c)(3) | Plymouth, MA | $3,329,927 |
| Prospera North Carolina LLC | 501(c)(3) | Orlando, FL | $1,519,000 |
| Aileron Corp | 501(c)(3) | Tipp City, OH | $11,123,658 |
| Endeavor Miami | 501(c)(3) | Miami, FL | $1,593,290 |
Data update history
January 15, 2025
Used new vendors
Identified 1 new vendor, including
January 4, 2025
Posted financials
Added Form 990 for fiscal year 2023
November 26, 2024
Received grants
Identified 8 new grant, including a grant for $500,000 from Novo Foundation October 21, 2024
Updated personnel
Identified 13 new personnel
August 26, 2024
Received grants
Identified 8 new grant, including a grant for $300,000 from Prudential Foundation Nonprofit Types
Employment organizationsBusiness and community development organizationsCharities
Issues
EducationBusiness and industry
Characteristics
Receives government fundingCommunity engagement / volunteeringGala fundraisersTax deductible donationsAccepts online donations
General information
- Address
- PO Box 10188 PMB 56701
- Newark, NJ 07101
- Metro area
- New York-Newark-Jersey City, NY-NJ-PA
- County
- Essex County, NJ
- Website URL
- risingtidecapital.org/Â
- Phone
- (201) 432-4316
- Facebook page
- risingtidecapitalÂ
- Twitter profile
- @risingtideorgÂ
IRS details
- EIN
- 11-3720098
- Fiscal year end
- December
- Taxreturn type
- Form 990
- Year formed
- 2004
- Eligible to receive tax-deductible contributions (Pub 78)
- Yes
Categorization
- NTEE code, primary
- S43: Management Services for Small Business, Entrepreneurs
- NAICS code, primary
- 611430: Professional and Management Development Training
- Parent/child status
- Independent
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