Salem State University Alumni Association and Foundation Inc

Analysis

Salem State University Alumni Association and Foundation Inc is a registered charity in United States, based in Salem, MA. It received its IRS tax-exemption ruling in August 1977, 49 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Salem State University Alumni Association and Foundation Inc reported income of $16.0m and spending of $7.8m, leaving 51% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.8m to $16.0m (+318%), an average of +43% a year. The sharpest change came in the year to June 2021, when income rose by 257%. Over the whole period it spent 49% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Salem State University Alumni Association and Foundation Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 96th percentile within MA. Charities of a similar size with the same main cause include Troy University Foundation ($16.0m), Open Staffing Foundation ($16.0m) and Southern Oregon University Foundation ($16.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 90% and program service revenue 0.8% of the total. At year end it held assets of $62.6m against liabilities of $579k, net assets of $62.0m.