Open Sats Initiative Inc

Analysis

Open Sats Initiative Inc is a registered charity in United States, based in Punta Gorda, FL. It received its IRS tax-exemption ruling in December 2021, 5 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 2023, Open Sats Initiative Inc reported income of $11.3m and spending of $4.0m, leaving 65% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $1.8m to $11.3m (+532%), an average of +532% a year. The sharpest change came in the year to December 2023, when income rose by 532%. Over the whole period it spent 32% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Open Sats Initiative Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within FL. Charities of a similar size with the same main cause include Enlace Chicago ($11.3m), Greater Metropolitan Community Blood Service Inc ($11.4m) and Ohio Capital Finance Corporation ($11.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $13.9m against liabilities of $0, net assets of $13.9m.