Institute for Protein Innovation Inc

Analysis

Institute for Protein Innovation Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in February 2017, 9 years ago. Its declared purposes cover medical research, which this site groups under health and saving lives. The IRS classifies it as a hospital or medical research organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Institute for Protein Innovation Inc reported income of $4.6m and spending of $14.6m, spending 314% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $1.5m to $4.6m (+206%), an average of +25% a year. The sharpest change came in the year to June 2020, when income rose by 1522%. Over the whole period it spent 26% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Institute for Protein Innovation Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 91st percentile within MA. Charities of a similar size with the same main cause include Ausable Valley Continuing Care Retirement Community Inc ($4.6m), Chrysalis House Inc ($4.6m) and Biohealth Innovation Inc ($4.6m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 3.4% and program service revenue 0.9% of the total. Compensation of current officers, directors and key employees was $996k (6.8% of expenses). Other salaries and wages came to $5.2m. At year end it held assets of $201.9m against liabilities of $4.3m, net assets of $197.6m. It reported 54 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.