Innovate 120 Inc

Analysis

Innovate 120 Inc is a registered charity in United States, based in Maquoketa, IA. It received its IRS tax-exemption ruling in March 2022, 4 years ago. 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, Innovate 120 Inc reported income of $242k and spending of $148k, leaving 39% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $137k to $242k (+76%), an average of +76% a year. The sharpest change came in the year to December 2023, when income rose by 76%. Over the whole period it spent 70% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Innovate 120 Inc sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 59th percentile within IA. Charities of a similar size with the same main cause include Daily Bread of Lenawee Inc ($242k), Evangeline Law Enforcement Council Inc ($242k) and Courage Ranch ($242k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% and program service revenue 4.7% of the total. At year end it held assets of $129k against liabilities of $0, net assets of $129k.