Information Technology Exchange

Analysis

Information Technology Exchange is a registered charity in United States, based in Searsport, ME. It received its IRS tax-exemption ruling in December 2002, 24 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Information Technology Exchange reported income of $1.5m and spending of $1.5m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $930k to $1.5m (+65%), an average of +13% a year. The sharpest change came in the year to December 2021, when income rose by 34%. Over the whole period it spent 87% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Information Technology Exchange sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 82nd percentile within ME. Charities of a similar size with the same main cause include United Way of Wayne and Holmes Counties Inc ($1.5m), 4us ($1.5m) and The Rockland Community Foundation ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 12% and program service revenue 45% of the total. Compensation of current officers, directors and key employees was $165k (11% of expenses). Other salaries and wages came to $564k. At year end it held assets of $1.5m against liabilities of $549k, net assets of $911k. It reported 12 employees.