Neurofit Networks Inc

Analysis

Neurofit Networks Inc is a registered charity in United States, based in Tucson, AZ. It received its IRS tax-exemption ruling in October 2011, 15 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Neurofit Networks Inc reported income of $2.4m and spending of $2.1m, spending 87% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.4m to $2.4m (+74%), an average of +15% a year. The sharpest change came in the year to June 2021, when income rose by 39%. Over the whole period it spent 103% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Neurofit Networks Inc 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 87th percentile, and in the 85th percentile within AZ. Charities of a similar size with the same main cause include Our School ($2.4m), Gablestage Inc ($2.4m) and Valley Wellness Center Inc ($2.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 36% and program service revenue 63% of the total. Compensation of current officers, directors and key employees was $132k (6.2% of expenses). Other salaries and wages came to $889k. At year end it held assets of $1.6m against liabilities of $948k, net assets of $678k. It reported 23 employees.