The Foundation for American Innovation

Analysis

The Foundation for American Innovation is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in March 2015, 11 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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 2022, The Foundation for American Innovation reported income of $3.9m and spending of $4.3m, spending 111% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income grew from $2.6m to $3.9m (+53%), an average of +15% a year. The sharpest change came in the year to December 2021, when income rose by 75%. Over the whole period it spent 94% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, The Foundation for American Innovation sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 77th percentile within DC. Charities of a similar size with the same main cause include New York Society of Cosmetic Chemists Inc ($3.9m), Marco Island Hospital Inc ($3.9m) and Counselling Services Center of Southeastern Erie County Inc ($3.9m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 93% and program service revenue 0.5% of the total. Compensation of current officers, directors and key employees was $779k (18% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $1.9m against liabilities of $45k, net assets of $1.9m. It reported 21 employees.