Information Technology Andinnovation Foundation

Analysis

Information Technology Andinnovation Foundation is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in January 2007, 19 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 February 2023, Information Technology Andinnovation Foundation reported income of $7.6m and spending of $7.5m, spending 99% of its income. Across the 4 years on record, from February 2020 to February 2023, income grew from $4.9m to $7.6m (+53%), an average of +15% a year. The sharpest change came in the year to February 2021, when income rose by 30%. Over the whole period it spent 86% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Information Technology Andinnovation Foundation sits at the 95th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 84th percentile within DC. Charities of a similar size with the same main cause include Ridc LTC 48 ($7.6m), Dauphin County Economic Development Corporation ($7.6m) and Forge City Works ($7.6m).

On its Form 990 for the period ending February 2023, revenue came from contributions and grants 96% and program service revenue 1.5% of the total. Compensation of current officers, directors and key employees was $2.0m (26% of expenses). Other salaries and wages came to $2.3m. At year end it held assets of $11.6m against liabilities of $3.4m, net assets of $8.2m. It reported 47 employees.