Innovate Washington Foundation

Analysis

Innovate Washington Foundation is a registered charity in United States, based in Spokane, WA. It received its IRS tax-exemption ruling in May 1997, 29 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 December 2023, Innovate Washington Foundation reported income of $814k and spending of $1.1m, spending 140% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $660k to $814k (+23%), an average of +5.4% a year. The sharpest change came in the year to December 2020, when income rose by 190%. Over the whole period it spent 95% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Innovate Washington Foundation sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 76th percentile within WA. Charities of a similar size with the same main cause include Hanover Charities USA Inc ($814k), Rende Progress Capital ($814k) and Roger Federer Charitable Fund Inc ($814k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 13% and program service revenue 86% of the total. Compensation of current officers, directors and key employees was $290k (26% of expenses). Other salaries and wages came to $109k. At year end it held assets of $8.5m against liabilities of $9.2m, net assets of -$629k. It reported 3 employees.