Tessitura Network Inc

Analysis

Tessitura Network Inc is a registered charity in United States, based in Middletown, DE. It received its IRS tax-exemption ruling in November 2007, 19 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Tessitura Network Inc reported income of $62.6m and spending of $63.1m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $44.3m to $62.6m (+41%), an average of +9.0% a year. The sharpest change came in the year to December 2023, when income rose by 20%. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Tessitura Network 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 99th percentile, and in the 99th percentile within DE. Charities of a similar size with the same main cause include Portage Bay Insurance ($62.5m), Blue Ridge Community Health Services Inc ($62.7m) and Hospital Development Co ($62.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 4.6% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $1.9m (3.0% of expenses). Other salaries and wages came to $32.1m. At year end it held assets of $19.2m against liabilities of $8.7m, net assets of $10.4m. It reported 302 employees.