Innovation Foundation Inc

Analysis

Innovation Foundation Inc is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in February 2011, 15 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Innovation Foundation Inc reported income of $297k and spending of $310k, spending 105% of its income. Across the 4 years on record, from December 2019 to December 2023, income fell from $3.6m to $297k (-92%), an average of -56% a year. The sharpest change came in the year to December 2020, when income dropped by 78%. Over the whole period it spent 122% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Innovation Foundation Inc sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 62nd percentile within IL. Charities of a similar size with the same main cause include Gravenstein Schools Magnet Program Foundation ($297k), West Side High School Alulmni Association a NJ Nonprofit Corpora ($297k) and Milk Carton on a String Inc ($297k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $189k (61% of expenses). At year end it held assets of $201k against liabilities of $2,313, net assets of $199k. It reported 1 employees.