Iit Madras Foundation

Analysis

Iit Madras Foundation is a registered charity in United States, based in Cupertino, CA. It received its IRS tax-exemption ruling in February 2015, 11 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, Iit Madras Foundation reported income of $9.5m and spending of $6.1m, leaving 36% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.7m to $9.5m (+158%), an average of +27% a year. The sharpest change came in the year to December 2023, when income rose by 129%. Over the whole period it spent 65% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Iit Madras Foundation sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within CA. Charities of a similar size with the same main cause include Jacob a Riis Neighborhood Settlement ($9.5m), The River Valley Regional Young Mens Christian Association ($9.5m) and The Childrens Partnership ($9.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% of the total. Compensation of current officers, directors and key employees was $92k (1.5% of expenses). Other salaries and wages came to $24k. At year end it held assets of $21.1m against liabilities of $2.4m, net assets of $18.6m. It reported 2 employees.