Improve the News Foundation

Analysis

Improve the News Foundation is a registered charity in United States, based in New Castle, DE. It received its IRS tax-exemption ruling in April 2021, 5 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Improve the News Foundation reported income of $5.9m and spending of $3.7m, leaving 38% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income grew from $3.3m to $5.9m (+83%), an average of +35% a year. The sharpest change came in the year to December 2023, when income rose by 102%. Over the whole period it spent 74% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Improve the News Foundation sits at the 97th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within DE. Charities of a similar size with the same main cause include The New Childrens Museum ($5.9m), Music Performance Trust Fund ($5.9m) and Sierra Institute for Community and ($5.9m).

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 $3.4m against liabilities of $240k, net assets of $3.1m.