Ingenuity Project Inc

Analysis

Ingenuity Project Inc is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in October 1995, 31 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Ingenuity Project Inc reported income of $2.4m and spending of $1.9m, leaving 22% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $1.8m to $2.4m (+35%), an average of +11% a year. The sharpest change came in the year to June 2023, when income rose by 28%. Over the whole period it spent 83% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Ingenuity Project Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 86th percentile within MD. Charities of a similar size with the same main cause include Nexus Academy of Cleveland ($2.4m), Applied Scholastics International ($2.4m) and Greenwich Library ($2.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $147k (7.7% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $2.1m against liabilities of $89k, net assets of $2.0m. It reported 129 employees.