Terrapraxis Inc

Analysis

Terrapraxis Inc is a registered charity in United States, based in Cambridge, MA. It received its IRS tax-exemption ruling in November 2021, 5 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. 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, Terrapraxis Inc reported income of $2.4m and spending of $3.2m, spending 135% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $804k to $2.4m (+192%), an average of +71% a year. The sharpest change came in the year to December 2022, when income rose by 218%. Over the whole period it spent 80% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Terrapraxis 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 87th percentile, and in the 86th percentile within MA. Charities of a similar size with the same main cause include Boy Scouts of America ($2.4m), Minnesota State Sheriffs Association Inc ($2.4m) and Disability Rights New Mexico ($2.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 1.8% of the total. Compensation of current officers, directors and key employees was $230k (7.2% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $823k against liabilities of $265k, net assets of $558k. It reported 8 employees.