Innovation Development Institute Inc

Analysis

Innovation Development Institute Inc is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in July 2014, 12 years ago. Its declared purposes cover unknown, which this site groups under other charitable 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 December 2023, Innovation Development Institute Inc reported income of $5.9m and spending of $6.2m, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.8m to $5.9m (+22%), an average of +5.0% a year. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Innovation Development Institute Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within IL. Charities of a similar size with the same main cause include Manchester-Bidwell Corporation ($5.9m), The Converse Home Inc ($5.9m) and Zinzendorf Hall Inc ($5.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 12% and program service revenue 85% of the total. Compensation of current officers, directors and key employees was $1.3m (22% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $6.5m against liabilities of $3.4m, net assets of $3.1m. It reported 26 employees.