Modern School of Fashion and Design Inc

Analysis

Modern School of Fashion and Design Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in April 1957, 69 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending May 2023, Modern School of Fashion and Design Inc reported income of $7.2m and spending of $666k, leaving 91% of income unspent that year. Across the 5 years on record, from May 2019 to May 2023, income grew from $593k to $7.2m (+1122%), an average of +87% a year. The sharpest change came in the year to May 2023, when income rose by 1985%. Over the whole period it spent 28% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Modern School of Fashion and Design Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within MA. Charities of a similar size with the same main cause include Golden Eagle Charter School ($7.2m), Childrens Academy ($7.2m) and University of California Merced Foundation ($7.2m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 0.8% and program service revenue 2.1% of the total. Compensation of current officers, directors and key employees was $5,100 (0.8% of expenses). Other salaries and wages came to $255k. At year end it held assets of $7.1m against liabilities of $72k, net assets of $7.0m. It reported 12 employees.