Innovia Ignite Foundation

Analysis

Innovia Ignite Foundation is a registered charity in United States, based in Spokane, WA. It received its IRS tax-exemption ruling in August 2021, 5 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 June 2023, Innovia Ignite Foundation reported income of $3.8m and spending of $930k, leaving 75% of income unspent that year. Across the 2 years on record, from June 2022 to June 2023, income grew from $4,370 to $3.8m (+86681%), an average of +86682% a year. The sharpest change came in the year to June 2023, when income rose by 86681%. Over the whole period it spent 25% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Innovia Ignite Foundation sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within WA. Charities of a similar size with the same main cause include Asheville Area Chamber of Commerce Community Betterment Foundation ($3.8m), Presidio Theatre ($3.8m) and United Way of Greater Union County Inc ($3.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $3.2m against liabilities of $336k, net assets of $2.9m.