X Prize Foundation Inc

Analysis

X Prize Foundation Inc is a registered charity in United States, based in Culver City, CA. It received its IRS tax-exemption ruling in June 1999, 27 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. 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, X Prize Foundation Inc reported income of $31.4m and spending of $26.5m, spending 84% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $18.3m to $31.4m (+71%), an average of +14% a year. The sharpest change came in the year to December 2023, when income rose by 71%. Over the whole period it spent 119% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, X Prize Foundation Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within CA. Charities of a similar size with the same main cause include Kidspeace Childrens Hospital Inc ($31.4m), College Foundation Inc ($31.4m) and The Young Mens Christian Association of Greater Toledo ($31.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% of the total. Compensation of current officers, directors and key employees was $3.3m (12% of expenses). Other salaries and wages came to $11.2m. At year end it held assets of $151.6m against liabilities of $120.6m, net assets of $31.0m. It reported 114 employees.