Idea Florida Inc

Analysis

Idea Florida Inc is a registered charity in United States, based in Weslaco, TX. It received its IRS tax-exemption ruling in August 2020, 6 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Idea Florida Inc reported income of $51.8m and spending of $51.5m, spending 99% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $1.1m to $51.8m (+4673%), an average of +263% a year. The sharpest change came in the year to June 2021, when income rose by 723%. Over the whole period it spent 100% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Idea Florida Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within TX. Charities of a similar size with the same main cause include Und Alumni Association and Foundation ($51.7m), Golden Gate University ($51.8m) and William Penn University ($51.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $324k (0.6% of expenses). Other salaries and wages came to $23.2m. At year end it held assets of $38.2m against liabilities of $37.9m, net assets of $382k. It reported 9 employees.