Innovate Work Lab Inc

Analysis

Innovate Work Lab Inc is a registered charity in United States, based in Oakland, CA. It received its IRS tax-exemption ruling in July 2021, 5 years ago. Its declared purposes cover employment, 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, Innovate Work Lab Inc reported income of $429k and spending of $189k, leaving 56% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $101k to $429k (+327%), an average of +327% a year. The sharpest change came in the year to December 2023, when income rose by 327%. Over the whole period it spent 36% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Innovate Work Lab Inc sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 70th percentile within CA. Charities of a similar size with the same main cause include Ladies of Charity of Nashville ($429k), East Brooklyn Churches Sponsoring Committee ($429k) and Mali Health Organizing Project Inc ($429k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 24% and program service revenue 76% of the total. At year end it held assets of $341k against liabilities of $0, net assets of $341k.