Project Invent

Analysis

Project Invent is a registered charity in United States, based in San Francisco, CA. It received its IRS tax-exemption ruling in March 2019, 7 years ago. Its declared purposes cover science and technology, which this site groups under arts, culture, heritage and science. 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 June 2023, Project Invent reported income of $1.1m and spending of $1.1m, spending 101% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $413k to $1.1m (+176%), an average of +40% a year. The sharpest change came in the year to June 2022, when income rose by 94%. Over the whole period it spent 84% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Project Invent sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 82nd percentile within CA. Charities of a similar size with the same main cause include 42nd Street Moon ($1.1m), Forward Momentum Chicago NFP ($1.1m) and 710 Main Street Inc ($1.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 1.8% of the total. Compensation of current officers, directors and key employees was $155k (14% of expenses). Other salaries and wages came to $633k. At year end it held assets of $846k against liabilities of $301k, net assets of $545k. It reported 9 employees.