Usit Foundation

Analysis

Usit Foundation is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in July 2016, 10 years ago. Its declared purposes cover education, which this site groups under education and training. 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 August 2023, Usit Foundation reported income of $172k and spending of $150k, spending 88% of its income. Across the 2 years on record, from August 2022 to August 2023, income grew from $76k to $172k (+126%), an average of +126% a year. The sharpest change came in the year to August 2023, when income rose by 126%. Over the whole period it spent 83% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Usit Foundation sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 54th percentile within TX. Charities of a similar size with the same main cause include Education Fund of Northern Nevada ($172k), Millburn High School Parent Teacher Organization Inc ($172k) and Logos University Inc ($172k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 86% and program service revenue 13% of the total. At year end it held assets of $145k against liabilities of $0, net assets of $145k.