Assad Abood Foundation Inc

Analysis

Assad Abood Foundation Inc is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in April 1973, 53 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 May 2024, Assad Abood Foundation Inc reported income of $238k and spending of $190k, leaving 20% of income unspent that year. Across the 5 years on record, from May 2020 to May 2024, income grew from $231k to $238k (+2.9%), an average of +0.7% a year. The sharpest change came in the year to May 2024, when income rose by 85%. Over the whole period it spent 99% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Assad Abood Foundation Inc sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 57th percentile within OH. Charities of a similar size with the same main cause include Dale R Fulton Charitable TR ($238k), Government Street Presbyterian Church Endowment TR ($238k) and Hope Match ($238k).

On its Form 990 for the period ending May 2024, revenue came from contributions and grants 30% and program service revenue 57% of the total. Other salaries and wages came to $96k. At year end it held assets of $708k against liabilities of $0, net assets of $708k.