Colab Foundation Inc

Analysis

Colab Foundation Inc is a registered charity in United States, based in Thibodaux, LA. It received its IRS tax-exemption ruling in November 1985, 41 years ago. 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, Colab Foundation Inc reported income of $1.2m and spending of $1.1m, spending 90% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $532k to $1.2m (+121%), an average of +22% a year. The sharpest change came in the year to December 2022, when income rose by 39%. Over the whole period it spent 101% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Colab Foundation Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 80th percentile within LA. Charities of a similar size with the same main cause include Pipefitters Education Fund Local Union 274 ($1.2m), Iowa Volleyball Association ($1.2m) and Club Wolverine Swimming Inc ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 87% of the total. Other salaries and wages came to $345k. At year end it held assets of $512k against liabilities of $83k, net assets of $428k. It reported 14 employees.