Aitec Gives Back Foundation

Analysis

Aitec Gives Back Foundation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in September 2014, 12 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Aitec Gives Back Foundation reported income of $191k and spending of $141k, leaving 26% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $438k to $191k (-56%), an average of -19% a year. The sharpest change came in the year to December 2021, when income rose by 71668%. Over the whole period it spent 91% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Aitec Gives Back Foundation sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 50th percentile within NY. Charities of a similar size with the same main cause include Hoops for Youth ($191k), Fight Oar Die ($191k) and Demopolis City Schools Foundation Inc ($191k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 193% of the total. At year end it held assets of $142k against liabilities of $0, net assets of $142k.