Corporation for National Research Initiatives

Analysis

Corporation for National Research Initiatives is a registered charity in United States, based in Reston, VA. It received its IRS tax-exemption ruling in May 1991, 35 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, Corporation for National Research Initiatives reported income of $2.9m and spending of $3.3m, spending 114% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $3.6m to $2.9m (-19%), an average of -5.1% a year. The sharpest change came in the year to December 2020, when income dropped by 23%. Over the whole period it spent 112% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Corporation for National Research Initiatives 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 89th percentile, and in the 89th percentile within VA. Charities of a similar size with the same main cause include Musicians on Call Inc ($2.9m), Greenway Arts Alliance ($2.9m) and Spokane Hoopfest Association ($2.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% and program service revenue 35% of the total. Compensation of current officers, directors and key employees was $1.4m (42% of expenses). Other salaries and wages came to $239k. At year end it held assets of $7.7m against liabilities of $6.0m, net assets of $1.7m. It reported 14 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.