Innovation Network for Communities

Analysis

Innovation Network for Communities is a registered charity in United States, based in Tamworth, NH. It received its IRS tax-exemption ruling in May 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Innovation Network for Communities reported income of $3.2m and spending of $3.4m, spending 107% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.6m to $3.2m (+23%), an average of +5.3% a year. The sharpest change came in the year to December 2021, when income rose by 106%. Over the whole period it spent 99% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Innovation Network for Communities sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 91st percentile within NH. Charities of a similar size with the same main cause include Goodwill Industires of South Mississippi Inc ($3.2m), Experimental Station ($3.2m) and People Incorporated Financial Services ($3.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 90% and program service revenue 8.2% of the total. Compensation of current officers, directors and key employees was $406k (12% of expenses). Other salaries and wages came to $860k. At year end it held assets of $2.3m against liabilities of $206k, net assets of $2.1m. It reported 12 employees.