Innovative Concepts

Analysis

Innovative Concepts is a registered charity in United States, based in Fort Gratiot, MI. It received its IRS tax-exemption ruling in June 1992, 34 years ago. Its declared purposes cover unknown, which this site groups under other charitable purposes. 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 Concepts reported income of $125k and spending of $147k, spending 118% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $100k to $125k (+24%), an average of +5.6% a year. The sharpest change came in the year to December 2020, when income rose by 36%. Over the whole period it spent 110% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Innovative Concepts sits at the 42nd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 43rd percentile, and in the 42nd percentile within MI. Charities of a similar size with the same main cause include Big Brothers and Sisters of Spokane County Endowment Fund ($125k), Spruce Creek Musical Performing Arts Association Inc ($125k) and Alcoholic Service Center Inc ($125k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 59% and program service revenue 25% of the total. At year end it held assets of $484k against liabilities of $214k, net assets of $269k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.