Ignite Capital Inc

Analysis

Ignite Capital Inc is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in February 2021, 5 years ago. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Ignite Capital Inc reported income of $263k and spending of $327k, spending 124% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income grew from $20k to $263k (+1249%), an average of +138% a year. The sharpest change came in the year to December 2021, when income rose by 1885%. Over the whole period it spent 86% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Ignite Capital Inc sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 59th percentile within MD. Charities of a similar size with the same main cause include Atlantic Volunteer Fire and Rescue Company Incorporated ($263k), Love Learning Plus ($263k) and Lake Area Christian School Association Inc ($263k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 90% of the total. Other salaries and wages came to $93k. At year end it held assets of $2.5m against liabilities of $2.3m, net assets of $140k.