Canary Impact Lab Inc

Analysis

Canary Impact Lab Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in May 2022, 4 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, Canary Impact Lab Inc reported income of $2.6m and spending of $2.0m, leaving 22% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $1.0m to $2.6m (+159%), an average of +159% a year. The sharpest change came in the year to December 2023, when income rose by 159%. Over the whole period it spent 60% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Canary Impact Lab Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 85th percentile within NY. Charities of a similar size with the same main cause include Florida Christian University Inc ($2.6m), Southwestern College Foundation ($2.6m) and Lower Columbia Fish Enhancement ($2.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 1.9% of the total. At year end it held assets of $1.5m against liabilities of $16k, net assets of $1.5m.