Icon360 Inc

Analysis

Icon360 Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in September 2020, 6 years ago. 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 2022, Icon360 Inc reported income of $699k and spending of $818k, spending 117% of what it took in. Across the 3 years on record, from December 2020 to December 2022, income fell from $1.0m to $699k (-33%), an average of -18% a year. The sharpest change came in the year to December 2021, when income dropped by 19%. Over the whole period it spent 102% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Icon360 Inc sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 71st percentile within NY. Charities of a similar size with the same main cause include Lincoln Park All American Football Leaguers ($699k), Little League Baseball Inc ($699k) and Huntingdon Valley Library ($699k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 100% of the total. At year end it held assets of $261k against liabilities of $304k, net assets of -$43k.