Ikan Incorporated

Analysis

Ikan Incorporated is a registered charity in United States, based in Florida, NY. It received its IRS tax-exemption ruling in February 2009, 17 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Ikan Incorporated reported income of $4.6m and spending of $4.8m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.1m to $4.6m (+316%), an average of +43% a year. The sharpest change came in the year to December 2020, when income rose by 87%. Over the whole period it spent 104% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Ikan Incorporated 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 92nd percentile, and in the 89th percentile within NY. Charities of a similar size with the same main cause include Hilltop Home Inc ($4.6m), Flood Bakersfield Ministries Inc ($4.6m) and Central Virginia Alliance for Community Living Inc ($4.6m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $238k (5.0% of expenses). Other salaries and wages came to $2.5m. At year end it held assets of $1.6m against liabilities of $1.8m, net assets of -$217k. It reported 149 employees.