Destination Innovation Inc

Analysis

Destination Innovation Inc is a registered charity in United States, based in Wichita, KS. It received its IRS tax-exemption ruling in November 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 2023, Destination Innovation Inc reported income of $757k and spending of $801k, spending 106% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $473k to $757k (+60%), an average of +26% a year. The sharpest change came in the year to December 2022, when income rose by 79%. Over the whole period it spent 95% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Destination Innovation Inc sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 77th percentile within KS. Charities of a similar size with the same main cause include New Beginning of Albany Community Development Corporation ($757k), Metropolitan Housing Development ($757k) and Hollister Community Outreach ($756k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $83k (10% of expenses). Other salaries and wages came to $340k. At year end it held assets of $128k against liabilities of $2,743, net assets of $125k. It reported 30 employees.