Classmate Fund Inc

Analysis

Classmate Fund Inc is a registered charity in United States, based in Virginia BCH, VA. It received its IRS tax-exemption ruling in September 1988, 38 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 December 2023, Classmate Fund Inc reported income of $108k and spending of $730k, spending 677% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $314k to $108k (-66%), an average of -23% a year. The sharpest change came in the year to December 2022, when income dropped by 140%. Over the whole period it spent 144% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Classmate Fund Inc sits at the 38th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 39th percentile, and in the 38th percentile within VA. Charities of a similar size with the same main cause include Three Rivers Citizens Advisory Board ($108k), National Black Nurses Association Inc ($108k) and New Life Ministries of Southwest Florida Inc ($108k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 4.3% of the total. At year end it held assets of $2.0m against liabilities of $0, net assets of $2.0m.

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.