Philanthropy Tank Inc

Analysis

Philanthropy Tank Inc is a registered charity in United States, based in Boca Raton, FL. It received its IRS tax-exemption ruling in January 2016, 10 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 August 2023, Philanthropy Tank Inc reported income of $399k and spending of $664k, spending 167% of what it took in. Across the 4 years on record, from December 2019 to August 2023, income fell from $452k to $399k (-12%), an average of -4.1% a year. The sharpest change came in the year to August 2021, when income rose by 65%. Over the whole period it spent 117% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Philanthropy Tank Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 69th percentile within FL. Charities of a similar size with the same main cause include William B Travis Foundation Inc ($398k), White County Medical Foundation ($399k) and Ohio Credit Union Foundation ($398k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $216k (33% of expenses). Other salaries and wages came to $85k. At year end it held assets of $110k against liabilities of $322k, net assets of -$212k. It reported 5 employees.