Citrus Research and Development Foundation Inc

Analysis

Citrus Research and Development Foundation Inc is a registered charity in United States, based in Lake Alfred, FL. It received its IRS tax-exemption ruling in January 2012, 14 years ago. The IRS classifies it as a organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Citrus Research and Development Foundation Inc reported income of $39.4m and spending of $40.0m, spending 102% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $10.6m to $39.4m (+273%), an average of +39% a year. The sharpest change came in the year to June 2024, when income rose by 181%. Over the whole period it spent 102% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Citrus Research and Development Foundation Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within FL. Charities of a similar size with the same main cause include Tapestry 360 Health ($39.4m), Osborne Association Inc ($39.4m) and Fairfield Healthcare Professionals Inc ($39.3m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $329k. At year end it held assets of $2.6m against liabilities of $882k, net assets of $1.7m.