Melrose High School Permanent Scholarship Fund Organization

Analysis

Melrose High School Permanent Scholarship Fund Organization is a registered charity in United States, based in Melrose, MA. It received its IRS tax-exemption ruling in May 1964, 62 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Melrose High School Permanent Scholarship Fund Organization reported income of $638k and spending of $545k, spending 85% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $558k to $638k (+14%), an average of +3.4% a year. The sharpest change came in the year to June 2021, when income rose by 53%. Over the whole period it spent 84% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Melrose High School Permanent Scholarship Fund Organization sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 74th percentile within MA. Charities of a similar size with the same main cause include Network Device Education Foundation Inc ($638k), Grace Renewing All Christian Education ($638k) and Humboldt State University Center Board of Director ($638k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 30% of the total. Compensation of current officers, directors and key employees was $28k (5.2% of expenses). At year end it held assets of $9.9m against liabilities of $615k, net assets of $9.3m.