Magellan Foundation Inc

Analysis

Magellan Foundation Inc is a registered charity in United States, based in Latham, NY. It received its IRS tax-exemption ruling in June 1993, 33 years ago. Its declared purposes cover environment, which this site groups under environment and conservation. 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 June 2023, Magellan Foundation Inc reported income of $56k and spending of $50k, spending 90% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $26k to $56k (+115%), an average of +29% a year. The sharpest change came in the year to June 2022, when income rose by 528%. Over the whole period it spent 88% of the income it received.

Among 10,430 United States charities whose main cause is environment and conservation and that reported income, Magellan Foundation Inc sits at the 22nd percentile: it is larger than about 22% of them. Against every charity in United States with reported income it ranks in the 22nd percentile, and in the 24th percentile within NY. Charities of a similar size with the same main cause include National Scenic Byway Foundation ($55k), Northeast Outdoors Foundation Inc ($56k) and Underground Foundations ($55k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $14k (27% of expenses). At year end it held assets of $215k against liabilities of $0, net assets of $215k. It reported 1 employees.