Galveston Center for Innovation and Transformation

Analysis

Galveston Center for Innovation and Transformation is a registered charity in United States, based in Galveston, TX. It received its IRS tax-exemption ruling in August 2020, 6 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Galveston Center for Innovation and Transformation reported income of $135k and spending of $20k, leaving 85% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $42k to $135k (+218%), an average of +218% a year. The sharpest change came in the year to December 2023, when income rose by 218%. Over the whole period it spent 27% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Galveston Center for Innovation and Transformation sits at the 29th percentile: it is larger than about 29% of them. Against every charity in United States with reported income it ranks in the 45th percentile, and in the 48th percentile within TX. Charities of a similar size with the same main cause include Present Help Foundation Inc ($135k), Mental Health Association Mohr Place Inc ($135k) and New Jersey Corporation for Advanced Technology ($135k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $137k against liabilities of $6,167, net assets of $131k.