Defensewerx Inc

Analysis

Defensewerx Inc is a registered charity in United States, based in Niceville, FL. It received its IRS tax-exemption ruling in February 2013, 13 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 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 September 2022, Defensewerx Inc reported income of $42.7m and spending of $44.8m, spending 105% of what it took in. Across the 4 years on record, from September 2019 to September 2022, income grew from $24.3m to $42.7m (+76%), an average of +21% a year. The sharpest change came in the year to September 2020, when income rose by 93%. Over the whole period it spent 101% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Defensewerx Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within FL. Charities of a similar size with the same main cause include Mann Center for the Performing Arts ($41.7m), Peace Center Foundation ($42.8m) and National Bureau of Economic Research Inc ($41.7m).

On its Form 990 for the period ending September 2022, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $270k (0.6% of expenses). Other salaries and wages came to $5.0m. At year end it held assets of $40.6m against liabilities of $42.2m, net assets of -$1.6m. It reported 123 employees.