University of South Florida Institute of Applied Engineering I

Analysis

University of South Florida Institute of Applied Engineering I is a registered charity in United States, based in Tampa, FL. It received its IRS tax-exemption ruling in May 2019, 7 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 supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, University of South Florida Institute of Applied Engineering I reported income of $14.2m and spending of $13.7m, spending 96% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $1.8m to $14.2m (+689%), an average of +99% a year. The sharpest change came in the year to June 2021, when income rose by 271%. Over the whole period it spent 97% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, University of South Florida Institute of Applied Engineering I sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within FL. Charities of a similar size with the same main cause include Daughters of Charity Foundation ($14.2m), Broome Community College Foundation Inc ($14.2m) and CF Foundation Inc ($14.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 12% and program service revenue 88% of the total. Other salaries and wages came to $4.3m. At year end it held assets of $5.3m against liabilities of $4.1m, net assets of $1.2m.