Institute of Electrical and Electronics Engineers Inc

Analysis

Institute of Electrical and Electronics Engineers Inc is a registered charity in United States, based in Piscataway, NJ. It received its IRS tax-exemption ruling in March 1993, 33 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Institute of Electrical and Electronics Engineers Inc reported income of $650.2m and spending of $534.9m, spending 82% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $563.3m to $650.2m (+15%), an average of +3.7% a year. The sharpest change came in the year to December 2020, when income dropped by 15%. Over the whole period it spent 81% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Institute of Electrical and Electronics Engineers Inc 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 100th percentile, and in the 100th percentile within NJ. Charities of a similar size with the same main cause include Saint Josephs University ($636.8m), Hofstra University ($653.5m) and University of Louisville Research Foundation Inc ($631.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.5% and program service revenue 88% of the total. Compensation of current officers, directors and key employees was $4.5m (0.8% of expenses). Other salaries and wages came to $146.8m. At year end it held assets of $1.33bn against liabilities of $290.7m, net assets of $1.04bn. It reported 1,576 employees.