Taconic Innovations Inc

Analysis

Taconic Innovations Inc is a registered charity in United States, based in Wappingers Falls, NY. It received its IRS tax-exemption ruling in November 2004, 22 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Taconic Innovations Inc reported income of $10.6m and spending of $11.5m, spending 108% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $12.5m to $10.6m (-15%), an average of -4.0% a year. The sharpest change came in the year to December 2023, when income dropped by 18%. Over the whole period it spent 98% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Taconic Innovations Inc 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 95th percentile, and in the 93rd percentile within NY. Charities of a similar size with the same main cause include Sleep in Heavenly Peace Inc ($10.6m), Eah-Contra Costa Inc ($10.6m) and The Fort Wayne Rescue Mission Ministries Inc ($10.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 7.3% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $552k (4.8% of expenses). Other salaries and wages came to $7.0m. At year end it held assets of $12.6m against liabilities of $1.6m, net assets of $11.0m. It reported 257 employees.