Florida Institute for Human and Machine Cognition

Analysis

Florida Institute for Human and Machine Cognition is a registered charity in United States, based in Pensacola, FL. It received its IRS tax-exemption ruling in January 2005, 21 years ago. Its declared purposes cover science and technology, 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 June 2023, Florida Institute for Human and Machine Cognition reported income of $29.8m and spending of $26.5m, spending 89% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $18.3m to $29.8m (+63%), an average of +13% a year. The sharpest change came in the year to June 2020, when income rose by 20%. 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, Florida Institute for Human and Machine Cognition 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 98th percentile, and in the 98th percentile within FL. Charities of a similar size with the same main cause include Washington Drama Society Inc ($29.8m), The Venetoulis Institute for Local Journalism ($29.8m) and Atlanta Hall Management Inc ($29.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 33% and program service revenue 66% of the total. Compensation of current officers, directors and key employees was $2.8m (10% of expenses). Other salaries and wages came to $11.2m. At year end it held assets of $39.8m against liabilities of $18.8m, net assets of $21.0m. It reported 197 employees.