Institute of Gas Technology

Analysis

Institute of Gas Technology is a registered charity in United States, based in Des Plaines, IL. It received its IRS tax-exemption ruling in August 1942, 84 years ago. Its declared purposes cover science and technology, which this site groups under arts, culture, heritage and science. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Institute of Gas Technology reported income of $118.0m and spending of $117.2m, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $133.2m to $118.0m (-11%), an average of -3.0% a year. The sharpest change came in the year to December 2020, when income dropped by 28%. Over the whole period it spent 102% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Institute of Gas Technology sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within IL. Charities of a similar size with the same main cause include Kqed Inc ($115.1m), American Physical Society ($118.8m) and Philadelphia Museum of Art ($114.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 37% and program service revenue 54% of the total. Compensation of current officers, directors and key employees was $7.0m (5.9% of expenses). Other salaries and wages came to $32.0m. At year end it held assets of $151.4m against liabilities of $62.8m, net assets of $88.6m. It reported 375 employees.