Griffiss Institute Inc

Analysis

Griffiss Institute Inc is a registered charity in United States, based in Rome, NY. It received its IRS tax-exemption ruling in March 2004, 22 years ago. Its declared purposes cover science and technology, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Griffiss Institute Inc reported income of $34.9m and spending of $34.9m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $12.5m to $34.9m (+180%), an average of +29% a year. The sharpest change came in the year to December 2023, when income rose by 106%. Over the whole period it spent 99% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Griffiss Institute Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within NY. Charities of a similar size with the same main cause include Virginia Innovation Partnership Corporation ($34.8m), Thomas Jefferson Foundation Inc ($35.0m) and National Society of the Daughters of the American Revolution ($34.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% and program service revenue 0.8% of the total. Compensation of current officers, directors and key employees was $575k (1.6% of expenses). Other salaries and wages came to $6.3m. At year end it held assets of $8.0m against liabilities of $5.1m, net assets of $2.8m. It reported 419 employees.