Inspire Innovation Lab

Analysis

Inspire Innovation Lab is a registered charity in United States, based in Moorhead, MN. It received its IRS tax-exemption ruling in August 2015, 11 years ago. Its declared purposes cover education, which this site groups under education and training. 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 June 2023, Inspire Innovation Lab reported income of $391k and spending of $383k, spending 98% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $149k to $391k (+162%), an average of +38% a year. The sharpest change came in the year to June 2022, when income rose by 42%. Over the whole period it spent 100% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Inspire Innovation Lab sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 65th percentile within MN. Charities of a similar size with the same main cause include Resilient Colorado ($391k), Empowered Tutoring Inc ($392k) and Santa Ynez Valley Outreach Center ($391k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 15% and program service revenue 85% of the total. Other salaries and wages came to $219k. At year end it held assets of $38k against liabilities of $21k, net assets of $17k. It reported 16 employees.