Idea Foundry

Analysis

Idea Foundry is a registered charity in United States, based in Pittsburgh, PA. It received its IRS tax-exemption ruling in April 2002, 24 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Idea Foundry reported income of $354k and spending of $709k, spending 200% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $911k to $354k (-61%), an average of -21% a year. The sharpest change came in the year to December 2020, when income rose by 74%. Over the whole period it spent 148% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Idea Foundry sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 63rd percentile within PA. Charities of a similar size with the same main cause include Leadership Tyler Inc ($354k), Volunteer Center of Cedar Valley ($354k) and Stonington Village Improvement Association Incorporated ($353k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 19% and program service revenue 69% of the total. Compensation of current officers, directors and key employees was $209k (29% of expenses). Other salaries and wages came to $264k. At year end it held assets of $1.7m against liabilities of $142k, net assets of $1.6m. It reported 5 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.