Florida State University Magnet Research and Development Inc

Analysis

Florida State University Magnet Research and Development Inc is a registered charity in United States, based in Tallahassee, FL. It received its IRS tax-exemption ruling in February 2008, 18 years ago. Its declared purposes cover science and technology, which this site groups under arts, culture, heritage and science. 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 2024, Florida State University Magnet Research and Development Inc reported income of $116k and spending of $71k, leaving 39% of income unspent that year. Across the 3 years on record, from June 2020 to June 2024, income fell from $139k to $116k (-17%), an average of -8.7% a year. The sharpest change came in the year to June 2024, when income rose by 987%. Over the whole period it spent 83% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Florida State University Magnet Research and Development Inc sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 41st percentile, and in the 44th percentile within FL. Charities of a similar size with the same main cause include New Orleans Friends of Music ($116k), Friends of Pawnee Bill Ranch Association ($116k) and William Augustus Bowles Museum Andhistorical Foundation Inc ($116k).

On its Form 990-EZ for the period ending June 2024, revenue came from program service revenue 88% of the total. At year end it held assets of $347k against liabilities of $40k, net assets of $307k.