Finao Inc

Analysis

Finao Inc is a registered charity in United States, based in Racine, WI. 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, Finao Inc reported income of $314k and spending of $402k, spending 128% of what it took in. Across the 2 years on record, from December 2020 to December 2023, income fell from $362k to $314k (-13%), an average of -13% a year. Over the whole period it spent 80% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Finao Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 62nd percentile within WI. Charities of a similar size with the same main cause include Heart and Soul Charitable Fund Inc ($313k), Telecom for Change ($314k) and Ddembe Inc ($313k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $26k (6.6% of expenses). Other salaries and wages came to $26k. At year end it held assets of $214k against liabilities of $681, net assets of $213k. It reported 4 employees.