Foundation for Innovation and Life Inc

Analysis

Foundation for Innovation and Life Inc is a registered charity in United States, based in Brookline, MA. It received its IRS tax-exemption ruling in February 2007, 19 years ago. Its declared purposes cover health care, 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 2022, Foundation for Innovation and Life Inc reported income of $25.2m and spending of $22.6m, spending 90% of its income. Across the 4 years on record, from December 2019 to December 2022, income grew from $15.4m to $25.2m (+64%), an average of +18% a year. The sharpest change came in the year to December 2021, when income rose by 79%. Over the whole period it spent 88% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Foundation for Innovation and Life Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within MA. Charities of a similar size with the same main cause include Community Health Care Center Incorporated ($25.1m), Advance Community Health Inc ($25.2m) and Peoples Community Health Clinic Inc ($25.1m).

On its Form 990 for the period ending December 2022, revenue came from program service revenue 100% of the total. Other salaries and wages came to $7.4m. At year end it held assets of $23.8m against liabilities of $12.1m, net assets of $11.6m.