Technovation

Analysis

Technovation is a registered charity in United States, based in Menlo Park, CA. It received its IRS tax-exemption ruling in May 2007, 19 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 December 2023, Technovation reported income of $4.2m and spending of $4.6m, spending 109% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $4.4m to $4.2m (-4.1%), an average of -1.0% a year. The sharpest change came in the year to December 2021, when income rose by 63%. 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, Technovation sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within CA. Charities of a similar size with the same main cause include Florida Repertory Company Inc ($4.2m), Western Virginia Foundation for the Arts and Sciences ($4.2m) and Center for Asian American Media ($4.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% of the total. Compensation of current officers, directors and key employees was $288k (6.3% of expenses). Other salaries and wages came to $2.2m. At year end it held assets of $2.6m against liabilities of $345k, net assets of $2.2m. It reported 38 employees.