Independence Square Foundation

Analysis

Independence Square Foundation is a registered charity in United States, based in Pawtucket, RI. It received its IRS tax-exemption ruling in August 1984, 42 years ago. 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, Independence Square Foundation reported income of $1.8m and spending of $2.0m, spending 109% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.7m to $1.8m (+10%), an average of +2.4% a year. The sharpest change came in the year to December 2021, when income rose by 44%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Independence Square Foundation sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 82nd percentile within RI. Charities of a similar size with the same main cause include Organizing Neighborhoods for Equality Northside ($1.8m), Creative Learning Inc ($1.8m) and Friends of Nevada Wilderness ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. Compensation of current officers, directors and key employees was $225k (11% of expenses). Other salaries and wages came to $233k. At year end it held assets of $9.2m against liabilities of $6.3m, net assets of $2.9m. It reported 10 employees.