Ought Inc

Analysis

Ought Inc is a registered charity in United States, based in Covina, CA. It received its IRS tax-exemption ruling in May 2018, 8 years ago. Its declared purposes cover science and technology, which this site groups under arts, culture, heritage and science. 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 February 2023, Ought Inc reported income of $5.1m and spending of $3.1m, leaving 38% of income unspent that year. Across the 4 years on record, from February 2020 to February 2023, income grew from $4.7m to $5.1m (+6.7%), an average of +2.2% a year. The sharpest change came in the year to February 2023, when income rose by 536%. Over the whole period it spent 57% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Ought Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within CA. Charities of a similar size with the same main cause include Educational Radio Foundation of East Texas Inc ($5.1m), African Services Committee Inc ($5.1m) and Nevada Public Radio ($5.1m).

On its Form 990 for the period ending February 2023, revenue came from contributions and grants 99% and program service revenue 0.1% of the total. Compensation of current officers, directors and key employees was $347k (11% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $5.9m against liabilities of $217k, net assets of $5.7m. It reported 10 employees.