Ideals Inc

Analysis

Ideals Inc is a registered charity in United States, based in Poquoson, VA. It received its IRS tax-exemption ruling in October 1973, 53 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, Ideals Inc reported income of $198k and spending of $85k, leaving 57% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $58k to $198k (+238%), an average of +238% a year. The sharpest change came in the year to December 2023, when income rose by 238%. Over the whole period it spent 55% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Ideals Inc sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 54th percentile, and in the 53rd percentile within VA. Charities of a similar size with the same main cause include Baytown Little Theater Inc ($198k), Volunteers of America Inc ($198k) and Vinton First Aid Crew Incorporated ($198k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 35% and program service revenue 51% of the total. At year end it held assets of $40k against liabilities of $1,588, net assets of $39k.