Open Technology Fund

Analysis

Open Technology Fund 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 arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 September 2023, Open Technology Fund reported income of $38.0m and spending of $37.8m, spending 99% of its income. Across the 4 years on record, from September 2020 to September 2023, income grew from $5.7m to $38.0m (+569%), an average of +88% a year. The sharpest change came in the year to September 2022, when income rose by 197%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Open Technology Fund sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 96th percentile within DC. Charities of a similar size with the same main cause include Alzheimers Drug Discovery Foundation ($37.7m), Cascade Public Media ($38.6m) and New York Structural Biology Center Inc ($37.7m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $834k (2.2% of expenses). Other salaries and wages came to $2.3m. At year end it held assets of $44.6m against liabilities of $44.4m, net assets of $211k.