The Michael Bolton Charities Inc

Analysis

The Michael Bolton Charities Inc is a registered charity in United States, based in Wallingford, CT. It received its IRS tax-exemption ruling in July 1993, 33 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 December 2023, The Michael Bolton Charities Inc reported income of $106k and spending of $148k, spending 139% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $417k to $106k (-74%), an average of -29% a year. The sharpest change came in the year to December 2021, when income dropped by 58%. Over the whole period it spent 102% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, The Michael Bolton Charities Inc sits at the 41st percentile: it is larger than about 41% of them. Against every charity in United States with reported income it ranks in the 39th percentile, and in the 36th percentile within CT. Charities of a similar size with the same main cause include Sunrise Elementary PTA Northshore Council 6 10 42 ($106k), Achieve Fort Bend County ($106k) and Hononegah Booster Club ($106k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% of the total. Compensation of current officers, directors and key employees was $45k (30% of expenses). At year end it held assets of $653k against liabilities of $1,788, net assets of $651k. It reported 1 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.