Innovia Foundation

Analysis

Innovia Foundation is a registered charity in United States, based in Spokane, WA. It received its IRS tax-exemption ruling in December 1974, 52 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general 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 June 2023, Innovia Foundation reported income of $45.0m and spending of $13.7m, leaving 69% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $13.5m to $45.0m (+233%), an average of +35% a year. The sharpest change came in the year to June 2020, when income rose by 102%. Over the whole period it spent 56% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Innovia Foundation sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within WA. Charities of a similar size with the same main cause include Monterey Peninsula Foundation ($44.9m), Lighthouse Guild International Inc ($45.4m) and Omaha Community Foundation Donor Directed Depository ($44.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 96% and program service revenue 0.5% of the total. Compensation of current officers, directors and key employees was $781k (5.7% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $216.7m against liabilities of $26.1m, net assets of $190.6m. It reported 39 employees.