University of the Andes Foundation Inc

Analysis

University of the Andes Foundation Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in January 2018, 8 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, University of the Andes Foundation Inc reported income of $1.5m and spending of $1.6m, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $233k to $1.5m (+554%), an average of +60% a year. The sharpest change came in the year to December 2021, when income rose by 281%. Over the whole period it spent 193% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, University of the Andes Foundation Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 80th percentile within NY. Charities of a similar size with the same main cause include Bryan Area Foundation ($1.5m), Make-A-Wish Foundation of Puerto Rico ($1.5m) and United Jewish Community of the Virginia Peninsula Endowment Inc ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% of the total. Compensation of current officers, directors and key employees was $336k (21% of expenses). At year end it held assets of $9.0m against liabilities of $1.8m, net assets of $7.2m. It reported 2 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.