Convergent Research Inc

Analysis

Convergent Research Inc is a registered charity in United States, based in Cambridge, MA. It received its IRS tax-exemption ruling in November 2022, 4 years ago. Its declared purposes cover science and technology, which this site groups under arts, culture, heritage and science. 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, Convergent Research Inc reported income of $100.2m and spending of $30.2m, leaving 70% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $11.3m to $100.2m (+790%), an average of +790% a year. The sharpest change came in the year to December 2023, when income rose by 790%. Over the whole period it spent 33% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Convergent Research Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MA. Charities of a similar size with the same main cause include American Institute of Physics Incorporated ($100.0m), Whitney Museum of American Art ($100.9m) and Robert W Woodruff Arts Center Inc ($99.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% and program service revenue 0.3% of the total. Compensation of current officers, directors and key employees was $737k (2.4% of expenses). Other salaries and wages came to $10.3m. At year end it held assets of $85.5m against liabilities of $10.9m, net assets of $74.6m. It reported 146 employees.