Far Ai Inc

Analysis

Far Ai Inc is a registered charity in United States, based in San Diego, CA. It received its IRS tax-exemption ruling in November 2020, 6 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, Far Ai Inc reported income of $8.1m and spending of $2.8m, leaving 65% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $1.5m to $8.1m (+436%), an average of +436% a year. The sharpest change came in the year to December 2023, when income rose by 436%. Over the whole period it spent 29% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Far Ai Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within CA. Charities of a similar size with the same main cause include Hartford Stage Company ($8.1m), Center for Open Science ($8.1m) and Louisiana Philharmonic Orchestra ($8.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% and program service revenue 4.2% of the total. Compensation of current officers, directors and key employees was $434k (16% of expenses). Other salaries and wages came to $416k. At year end it held assets of $7.7m against liabilities of $955k, net assets of $6.8m. It reported 11 employees.