Harwood Institute for Public Innovation

Analysis

Harwood Institute for Public Innovation is a registered charity in United States, based in Bethesda, MD. It received its IRS tax-exemption ruling in June 1997, 29 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic 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 December 2023, Harwood Institute for Public Innovation reported income of $3.3m and spending of $1.6m, leaving 50% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.7m to $3.3m (+98%), an average of +19% a year. The sharpest change came in the year to December 2023, when income rose by 111%. Over the whole period it spent 75% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Harwood Institute for Public Innovation sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 88th percentile within MD. Charities of a similar size with the same main cause include Insulation Industrys National Apprentice and Training Fund ($3.3m), Desta ($3.3m) and Prince Georges Financial Services Corporation ($3.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% and program service revenue 4.9% of the total. Compensation of current officers, directors and key employees was $292k (18% of expenses). Other salaries and wages came to $526k. At year end it held assets of $3.5m against liabilities of $845k, net assets of $2.7m. It reported 17 employees.