Icut Foundation

Analysis

Icut Foundation is a registered charity in United States, based in Austin, TX. It received its IRS tax-exemption ruling in December 1981, 45 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 September 2023, Icut Foundation reported income of $1.8m and spending of $1.8m, spending 99% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $247k to $1.8m (+632%), an average of +64% a year. The sharpest change came in the year to September 2022, when income rose by 364%. Over the whole period it spent 75% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Icut Foundation 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 85th percentile, and in the 88th percentile within TX. Charities of a similar size with the same main cause include Association of Birth Defect Children Inc ($1.8m), North Memorial Foundation ($1.8m) and Hope Center Inc ($1.8m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 12% and program service revenue 81% of the total. Compensation of current officers, directors and key employees was $592k (33% of expenses). Other salaries and wages came to $231k. At year end it held assets of $1.4m against liabilities of $470k, net assets of $968k.