Foundation for Inspiration & Recognition Science & Technology I

Analysis

Foundation for Inspiration & Recognition Science & Technology I is a registered charity in United States, based in San Antonio, TX. It received its IRS tax-exemption ruling in June 2023, 3 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2024, Foundation for Inspiration & Recognition Science & Technology I reported income of $3.3m and spending of $3.5m, spending 108% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $2.9m to $3.3m (+12%), an average of +2.3% a year. The sharpest change came in the year to June 2023, when income rose by 25%. Over the whole period it spent 99% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Foundation for Inspiration & Recognition Science & Technology I sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 92nd percentile within TX. Charities of a similar size with the same main cause include Ada Jenkins Families and Careers Development Center Inc ($3.3m), Open Heart Kitchen of Livermore Incorporated ($3.3m) and Homer Senior Citizens Incorporated ($3.3m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 62% and program service revenue 37% of the total. Compensation of current officers, directors and key employees was $210k (5.9% of expenses). Other salaries and wages came to $457k. At year end it held assets of $885k against liabilities of $346k, net assets of $539k. It reported 16 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.