Untapped Potential Project

Analysis

Untapped Potential Project is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in May 2024, 2 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Untapped Potential Project reported income of $325k and spending of $455k, spending 140% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $50k to $325k (+550%), an average of +155% a year. The sharpest change came in the year to December 2022, when income rose by 500%. Over the whole period it spent 158% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Untapped Potential Project sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 63rd percentile within IL. Charities of a similar size with the same main cause include Columbus Bar Foundation ($325k), Keller Band Boosters Inc ($325k) and Hopkins Education Foundation ($325k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $57k against liabilities of $167k, net assets of -$111k.