Innovators for Purpose

Analysis

Innovators for Purpose is a registered charity in United States, based in Cambridge, MA. It received its IRS tax-exemption ruling in January 2015, 11 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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 2023, Innovators for Purpose reported income of $453k and spending of $406k, spending 90% of its income. Across the 3 years on record, from June 2021 to June 2023, income grew from $266k to $453k (+70%), an average of +30% a year. The sharpest change came in the year to June 2022, when income rose by 48%. Over the whole period it spent 88% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Innovators for Purpose sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 69th percentile within MA. Charities of a similar size with the same main cause include Projectivity Group Inc ($452k), Brookside Christian Ministries Inc ($453k) and Todd Martin Development Fund ($452k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 90% and program service revenue 10% of the total. Compensation of current officers, directors and key employees was $138k (34% of expenses). Other salaries and wages came to $137k. It paid $1,170 in professional fundraising fees. At year end it held assets of $216k against liabilities of $133k, net assets of $82k. It reported 2 employees.