Global Innovation Districts Inc

Analysis

Global Innovation Districts Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in November 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 (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, Global Innovation Districts Inc reported income of $1.2m and spending of $937k, leaving 22% of income unspent that year. Across the 3 years on record, from June 2020 to June 2023, income grew from $152k to $1.2m (+692%), an average of +182% a year. The sharpest change came in the year to June 2022, when income rose by 797%. Over the whole period it spent 78% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Global Innovation Districts Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 78th percentile within NY. Charities of a similar size with the same main cause include St Joseph Community Co-Op Inc ($1.2m), Kaccoc Foundation ($1.2m) and Operator Foundation ($1.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 94% and program service revenue 6.1% of the total. At year end it held assets of $1.3m against liabilities of $91k, net assets of $1.2m.