Refraction Inc

Analysis

Refraction Inc is a registered charity in United States, based in McLean, VA. It received its IRS tax-exemption ruling in March 2019, 7 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Refraction Inc reported income of $865k and spending of $927k, spending 107% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.3m to $865k (-34%), an average of -9.9% a year. The sharpest change came in the year to December 2021, when income rose by 143%. Over the whole period it spent 82% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Refraction Inc sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 78th percentile within VA. Charities of a similar size with the same main cause include Circuit Trail Conservancy ($864k), Needham Fire Rescue Company ($865k) and Innogroup Foundation Inc ($864k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 3.5% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $250k (27% of expenses). Other salaries and wages came to $54k. At year end it held assets of $1.1m against liabilities of $266k, net assets of $797k. It reported 4 employees.