Innovative Engineering Consortium

Analysis

Innovative Engineering Consortium is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in April 1951, 75 years ago. Its declared purposes cover education, which this site groups under education and training. 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 December 2023, Innovative Engineering Consortium reported income of $1.2m and spending of $975k, spending 82% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $605k to $1.2m (+97%), an average of +18% a year. The sharpest change came in the year to December 2023, when income rose by 761%. Over the whole period it spent 100% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Innovative Engineering Consortium sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 81st percentile within IL. Charities of a similar size with the same main cause include College Visions ($1.2m), Whitinsville Social Library ($1.2m) and Associated Students University of California Riverside ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $289k against liabilities of $277k, net assets of $11k.