Ignite Technology and Innovation Inc

Analysis

Ignite Technology and Innovation Inc is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in January 2018, 8 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 2022, Ignite Technology and Innovation Inc reported income of $503k and spending of $193k, leaving 62% of income unspent that year. Across the 4 years on record, from December 2019 to December 2022, income grew from $279k to $503k (+80%), an average of +22% a year. The sharpest change came in the year to December 2021, when income rose by 86%. Over the whole period it spent 97% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Ignite Technology and Innovation Inc 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 70th percentile, and in the 70th percentile within IL. Charities of a similar size with the same main cause include Brandons House Counseling Center Inc ($502k), Forwardtn ($503k) and Assistance League of Inland North County ($502k).

At year end it held assets of $532k against liabilities of $751k, net assets of -$219k. It reported 13 employees.