Innovation for Equity Inc

Analysis

Innovation for Equity Inc is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in April 2020, 6 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Innovation for Equity Inc reported income of $677k and spending of $971k, spending 144% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income fell from $1.1m to $677k (-41%), an average of -23% a year. The sharpest change came in the year to December 2023, when income rose by 85%. Over the whole period it spent 83% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Innovation for Equity Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 48th percentile within DC. Charities of a similar size with the same main cause include Chautauqua Christian Academy ($676k), Urban Roots Garden Classrooms ($677k) and Grandville Calvin Christian Schools Foundation ($676k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 2.0% of the total. Compensation of current officers, directors and key employees was $216k (22% of expenses). Other salaries and wages came to $119k. At year end it held assets of $477k against liabilities of $99k, net assets of $377k. It reported 3 employees.