Laboratory Institute of Merchandising Fashion Education Fo

Analysis

Laboratory Institute of Merchandising Fashion Education Fo is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in August 1978, 48 years ago. 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, Laboratory Institute of Merchandising Fashion Education Fo reported income of $67k and spending of $108k, spending 160% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $90k to $67k (-26%), an average of -9.4% a year. The sharpest change came in the year to June 2022, when income rose by 149%. Over the whole period it spent 150% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Laboratory Institute of Merchandising Fashion Education Fo sits at the 26th percentile: it is larger than about 26% of them. Against every charity in United States with reported income it ranks in the 26th percentile, and in the 27th percentile within NY. Charities of a similar size with the same main cause include Parkland High School Band Boosters ($67k), Alternative Living for Later Years Inc ($67k) and PTA California Congress of Parents Teachers & Students Inc ($67k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 36% of the total. At year end it held assets of $1.6m against liabilities of $61k, net assets of $1.5m.

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.