Responsible Innovation Labs Inc

Analysis

Responsible Innovation Labs Inc is a registered charity in United States, based in Dover, DE. It received its IRS tax-exemption ruling in June 2023, 3 years ago. Its declared purposes cover science and technology, which this site groups under arts, culture, heritage and science. 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, Responsible Innovation Labs Inc reported income of $981k and spending of $832k, spending 85% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $614k to $981k (+60%), an average of +26% a year. The sharpest change came in the year to December 2023, when income rose by 178%. Over the whole period it spent 89% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Responsible Innovation Labs Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 75th percentile within DE. Charities of a similar size with the same main cause include Wolfbane Productions ($981k), Creative Justice Initiative Inc ($982k) and Manoa Heritage Center ($981k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $297k (36% of expenses). Other salaries and wages came to $185k. At year end it held assets of $208k against liabilities of $924, net assets of $207k. It reported 6 employees.