Open Source Technology Improvement Fund Inc
EIN: 473897395 · Chicago, IL · NTEE: U41
| Metric | Value |
|---|---|
| Total Revenue | $1.7M |
| Total Expenses | $1.9M |
| Net Assets | $252K |
Is Open Source Technology Improvement Fund Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Open Source Technology Improvement Fund Inc
Open Source Technology Improvement Fund Inc (EIN: 473897395) is a nonprofit organization based in Chicago, IL, classified under NTEE code U41. The organization reported total revenue of $1.7M and total assets of $62K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Open Source Technology Improvement Fund Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Open Source Technology Improvement Fund Inc is a mid-size nonprofit that has been operating for 10 years, with 9 years of IRS 990 filings on record (2016–2023). Revenue has grown at a compound annual rate of 47.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.8M |
| Total Expenses | $1.9M |
| Surplus / Deficit | $-104,999 |
| Total Assets | $252K |
| Net Assets | $252K |
| Operating Margin | -6.0% |
| Months of Reserves | 1.6 months |
Financial Health Grade: C
In 2023, Open Source Technology Improvement Fund Inc reported a deficit of $105K with expenses exceeding revenue, holds 1.6 months of operating reserves (limited).
Financial Trends
Over 9 years of filings (2016–2023), Open Source Technology Improvement Fund Inc's revenue has grown at a compound annual growth rate (CAGR) of 47.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +33.8% | +39.1% | -29.4% |
| 2022 | +138.8% | +610.2% | -6.8% |
| 2021 | +371.7% | -21.0% | +1590.4% |
| 2020 | -9.7% | -12.7% | -84.3% |
| 2019 | -51.5% | +50.8% | -49.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1280 |
| IRS Ruling Date | 2016 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Open Source Technology Improvement Fund Inc has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Open Source Technology Improvement Fund Inc with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $105K, with expenses exceeding revenue.
Frequently Asked Questions about Open Source Technology Improvement Fund Inc
Is Open Source Technology Improvement Fund Inc a legitimate charity?
Open Source Technology Improvement Fund Inc (EIN: 473897395) is a registered tax-exempt nonprofit based in Illinois. It has 9 years of IRS 990 filings on record. Total revenue: $1.7M. No red flags identified. Financial health grade: C.
How does Open Source Technology Improvement Fund Inc spend its money?
Open Source Technology Improvement Fund Inc reported $1.7M in total revenue in IRS 990 filings. 9 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Open Source Technology Improvement Fund Inc tax-deductible?
Open Source Technology Improvement Fund Inc is registered as a tax-exempt nonprofit (EIN: 473897395). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Open Source Technology Improvement Fund Inc located?
Open Source Technology Improvement Fund Inc is headquartered in Chicago, Illinois and files with the IRS under EIN 473897395. It is classified under NTEE code U41.
How many years of IRS 990 filings does Open Source Technology Improvement Fund Inc have?
Open Source Technology Improvement Fund Inc has 9 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $1.7M in total revenue.
Filing History
IRS 990 filing history for Open Source Technology Improvement Fund Inc showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2016–2023), Open Source Technology Improvement Fund Inc's revenue has grown by 1418.7%, moving from $115K to $1.8M. Total assets increased by 188.3% over the same period, from $87K to $252K. Total functional expenses rose by 6546.1%, from $28K to $1.9M. In its most recent filing year (2023), Open Source Technology Improvement Fund Inc reported a deficit of $105K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.8M | $1.9M | $252K | $0 | — | View 990 |
| 2022 | $1.3M | $1.3M | $357K | $0 | — | View 990 |
| 2021 | $549K | $188K | $383K | $0 | — | View 990 |
| 2020 | $116K | $238K | $23K | $0 | — | — |
| 2019 | $129K | $273K | $144K | $0 | — | View 990 |
| 2018 | $265K | $181K | $289K | $0 | — | View 990 |
| 2017 | $193K | $76K | $204K | $0 | — | View 990 |
| 2017 | $193K | $76K | $204K | $0 | — | — |
| 2016 | $115K | $28K | $87K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.8M, expenses of $1.9M, and assets of $252K (revenue +33.8% year-over-year).
- 2022: Revenue of $1.3M, expenses of $1.3M, and assets of $357K (revenue +138.8% year-over-year).
- 2021: Revenue of $549K, expenses of $188K, and assets of $383K (revenue +371.7% year-over-year).
- 2020: Revenue of $116K, expenses of $238K, and assets of $23K (revenue -9.7% year-over-year).
- 2019: Revenue of $129K, expenses of $273K, and assets of $144K (revenue -51.5% year-over-year).
- 2018: Revenue of $265K, expenses of $181K, and assets of $289K (revenue +37.6% year-over-year).
- 2017: Revenue of $193K, expenses of $76K, and assets of $204K (revenue +0.0% year-over-year).
- 2017: Revenue of $193K, expenses of $76K, and assets of $204K (revenue +67.1% year-over-year).
- 2016: Revenue of $115K, expenses of $28K, and assets of $87K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Open Source Technology Improvement Fund Inc:
Data Sources and Methodology
This transparency report for Open Source Technology Improvement Fund Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.