Delaware Innovation Space Inc

Analysis

Delaware Innovation Space Inc is a registered charity in United States, based in Wilmington, DE. It received its IRS tax-exemption ruling in June 2017, 9 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Delaware Innovation Space Inc reported income of $7.3m and spending of $6.6m, spending 90% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $9.8m to $7.3m (-25%), an average of -6.9% a year. The sharpest change came in the year to December 2020, when income dropped by 25%. Over the whole period it spent 68% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Delaware Innovation Space Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within DE. Charities of a similar size with the same main cause include Bioconnect Iowa ($7.3m), Illinois Business and Economic Development Corporation ($7.3m) and Goleta Valley Professional Buildings Inc ($7.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 19% and program service revenue 60% of the total. At year end it held assets of $40.1m against liabilities of $5.9m, net assets of $34.2m.