I2b2 Transmart Foundation

Analysis

I2b2 Transmart Foundation is a registered charity in United States, based in Needham, MA. It received its IRS tax-exemption ruling in March 2015, 11 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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 June 2024, I2b2 Transmart Foundation reported income of $65k and spending of $813k, spending 1250% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income fell from $488k to $65k (-87%), an average of -40% a year. The sharpest change came in the year to June 2023, when income rose by 348%. Over the whole period it spent 122% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, I2b2 Transmart Foundation sits at the 26th percentile: it is larger than about 26% of them. Against every charity in United States with reported income it ranks in the 26th percentile, and in the 34th percentile within MA. Charities of a similar size with the same main cause include Blue Ridge Business Development Center ($65k), Run Around the Square ($65k) and Wounded Warrior Umpire Academy ($65k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $197k (24% of expenses). At year end it held assets of $1.6m against liabilities of $48k, net assets of $1.6m.