Foundation for Information Technology Education

Analysis

Foundation for Information Technology Education is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in May 1975, 51 years ago. Its declared purposes cover arts, culture and humanities, 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, Foundation for Information Technology Education reported income of $94k and spending of $130k, spending 138% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $161k to $94k (-42%), an average of -13% a year. The sharpest change came in the year to December 2023, when income rose by 300%. Over the whole period it spent 124% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Foundation for Information Technology Education sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 35th percentile, and in the 36th percentile within IL. Charities of a similar size with the same main cause include Pacific Italian Alliance ($94k), Millard West Dance Team Inc ($94k) and Cottrell Street Music Heritage Festival ($94k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.1% and program service revenue 75% of the total. At year end it held assets of $818k against liabilities of $0, net assets of $818k.