Open Source Technology Improvement Fund Inc

Analysis

Open Source Technology Improvement Fund Inc is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in February 2016, 10 years ago. Its declared purposes cover science and technology, which this site groups under arts, culture, heritage and science. 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, Open Source Technology Improvement Fund Inc reported income of $1.8m and spending of $1.9m, spending 106% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income grew from $265k to $1.8m (+560%), an average of +46% a year. The sharpest change came in the year to December 2021, when income rose by 372%. Over the whole period it spent 99% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Open Source Technology Improvement Fund Inc sits at the 91st percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 84th percentile within IL. Charities of a similar size with the same main cause include Boulder Community Broadcast Association Incorporated ($1.8m), Northern California Educational Television Assn Inc ($1.8m) and Center for Urban Renewal and Education ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $358k (19% of expenses). Other salaries and wages came to $61k. At year end it held assets of $252k against liabilities of $0, net assets of $252k.