Innovative Engineering Community Foundation

Analysis

Innovative Engineering Community Foundation is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in April 2021, 5 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Innovative Engineering Community Foundation reported income of $105k and spending of $103k, spending 98% of its income. Across the 3 years on record, from December 2021 to December 2023, income fell from $256k to $105k (-59%), an average of -36% a year. The sharpest change came in the year to December 2023, when income dropped by 42%. Over the whole period it spent 95% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Innovative Engineering Community Foundation sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 38th percentile, and in the 39th percentile within IL. Charities of a similar size with the same main cause include 365z Foundation Inc ($105k), Imagination Library of Grant County Inc ($105k) and United Hmong American Association ($105k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $169k against liabilities of $141k, net assets of $28k.