Francis Marion University Development Foundation

Analysis

Francis Marion University Development Foundation is a registered charity in United States, based in Florence, SC. It received its IRS tax-exemption ruling in March 2004, 22 years ago. Its declared purposes cover education, which this site groups under education and training. 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 2023, Francis Marion University Development Foundation reported income of $6.7m and spending of $5.7m, spending 85% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $6.2m to $6.7m (+8.6%), an average of +2.1% a year. Over the whole period it spent 83% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Francis Marion University Development Foundation sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 95th percentile within SC. Charities of a similar size with the same main cause include Illinois Association of Free and Charitable Clinics ($6.7m), Scholar Academy ($6.7m) and Incarnate Word Academy ($6.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 5.1% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $18k (0.3% of expenses). Other salaries and wages came to $433k. At year end it held assets of $27.6m against liabilities of $16.0m, net assets of $11.6m.