Thames River Innovation Places Inc

Analysis

Thames River Innovation Places Inc is a registered charity in United States, based in Groton, CT. It received its IRS tax-exemption ruling in May 2019, 7 years ago. Its declared purposes cover environment, which this site groups under environment and conservation. 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, Thames River Innovation Places Inc reported income of $162k and spending of $261k, spending 161% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.5m to $162k (-89%), an average of -42% a year. The sharpest change came in the year to June 2020, when income dropped by 53%. Over the whole period it spent 99% of the income it received.

Among 10,430 United States charities whose main cause is environment and conservation and that reported income, Thames River Innovation Places Inc sits at the 46th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 46th percentile within CT. Charities of a similar size with the same main cause include Forest Lake Improvement Association of Winchester NH ($162k), Blackleggs Watershed Associationinc ($162k) and American Daffodil Society Inc ($162k).

On its Form 990-EZ for the period ending June 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $23k against liabilities of $15k, net assets of $8,059.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.