Innovative Industries

Analysis

Innovative Industries is a registered charity in United States, based in Carthage, MO. It received its IRS tax-exemption ruling in January 1970, 56 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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 June 2023, Innovative Industries reported income of $2.3m and spending of $1.9m, spending 82% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $1.3m to $2.3m (+76%), an average of +21% a year. The sharpest change came in the year to June 2023, when income rose by 52%. Over the whole period it spent 93% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Innovative Industries sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 86th percentile within MO. Charities of a similar size with the same main cause include Metropolitan Housing Development Corporation ($2.3m), South Central Economic Development District Inc ($2.3m) and Mountain Family Center ($2.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 17% and program service revenue 54% of the total. Other salaries and wages came to $1.2m. At year end it held assets of $2.1m against liabilities of $203k, net assets of $1.9m. It reported 82 employees.