Futures Ignite Inc

Analysis

Futures Ignite Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in August 2014, 12 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Futures Ignite Inc reported income of $1.7m and spending of $1.8m, spending 102% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $395k to $1.7m (+338%), an average of +45% a year. The sharpest change came in the year to June 2020, when income rose by 77%. Over the whole period it spent 88% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Futures Ignite Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 81st percentile within NY. Charities of a similar size with the same main cause include Adolescent Adjustment Center NFP ($1.7m), Power of People Leadership Institute ($1.7m) and Creative Pinellas Incorporated ($1.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $131k (7.5% of expenses). Other salaries and wages came to $672k. At year end it held assets of $1.0m against liabilities of $283k, net assets of $755k. It reported 14 employees.