Fogarty Institute for Innovation

Analysis

Fogarty Institute for Innovation is a registered charity in United States, based in Mountain View, CA. It received its IRS tax-exemption ruling in November 2007, 19 years ago. Its declared purposes cover medical research, which this site groups under health and saving lives. 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, Fogarty Institute for Innovation reported income of $2.9m and spending of $7.6m, spending 260% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $650k to $2.9m (+352%), an average of +46% a year. The sharpest change came in the year to December 2020, when income rose by 1565%. Over the whole period it spent 95% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Fogarty Institute for Innovation sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 89th percentile within CA. Charities of a similar size with the same main cause include Tops Club Inc ($2.9m), L Arche Chicago ($2.9m) and Friendship Hlh&a Inc ($2.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 6.1% and program service revenue 74% of the total. Other salaries and wages came to $4.2m. At year end it held assets of $21.4m against liabilities of $11.0m, net assets of $10.3m. It reported 37 employees.