The Fly Initiative

Analysis

The Fly Initiative is a registered charity in United States, based in Providence, RI. 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 December 2023, The Fly Initiative reported income of $718k and spending of $632k, spending 88% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $466k to $718k (+54%), an average of +24% a year. The sharpest change came in the year to December 2023, when income rose by 1580%. Over the whole period it spent 93% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, The Fly Initiative 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 75th percentile, and in the 71st percentile within RI. Charities of a similar size with the same main cause include Tucklets ($717k), Mindful Sead ($718k) and The Arc Community Advocates ($717k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% and program service revenue 9.3% of the total. Compensation of current officers, directors and key employees was $94k (15% of expenses). Other salaries and wages came to $295k. At year end it held assets of $179k against liabilities of $60k, net assets of $119k. It reported 15 employees.