Innovations for Poverty Action

Analysis

Innovations for Poverty Action is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in September 2003, 23 years ago. Its declared purposes cover social science, 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, Innovations for Poverty Action reported income of $53.3m and spending of $54.4m, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $43.8m to $53.3m (+22%), an average of +5.0% a year. The sharpest change came in the year to December 2021, when income rose by 35%. Over the whole period it spent 96% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Innovations for Poverty Action sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 97th percentile within DC. Charities of a similar size with the same main cause include New Orleans Jazz & Heritage Foundation Inc ($53.2m), American Society of Civil Engineers ($53.3m) and Adrienne Arsht Center Trust Inc ($53.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% and program service revenue 0.9% of the total. Compensation of current officers, directors and key employees was $1.1m (2.0% of expenses). Other salaries and wages came to $24.5m. At year end it held assets of $32.1m against liabilities of $21.8m, net assets of $10.3m. It reported 127 employees.