W I T Foundation Inc

Analysis

W I T Foundation Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in April 1997, 29 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 2022, W I T Foundation Inc reported income of $1.0m and spending of $817k, leaving 22% of income unspent that year. Across the 4 years on record, from December 2019 to December 2022, income grew from $482k to $1.0m (+117%), an average of +30% a year. The sharpest change came in the year to December 2022, when income rose by 49%. Over the whole period it spent 86% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, W I T Foundation Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 76th percentile within NY. Charities of a similar size with the same main cause include Justin Thomas Foundation Inc ($1.0m), Foundation for Impact on Literacy and Learning Inc ($1.0m) and Better Billings Foundation ($1.0m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 97% and program service revenue 2.7% of the total. Compensation of current officers, directors and key employees was $85k (10% of expenses). Other salaries and wages came to $76k. At year end it held assets of $784k against liabilities of $84k, net assets of $700k. It reported 3 employees.