Mac Angels Foundation Inc

Analysis

Mac Angels Foundation Inc is a registered charity in United States, based in Larchmont, NY. It received its IRS tax-exemption ruling in January 2002, 24 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Mac Angels Foundation Inc reported income of $60k and spending of $174k, spending 290% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $354k to $60k (-83%), an average of -36% a year. The sharpest change came in the year to June 2023, when income dropped by 62%. Over the whole period it spent 126% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Mac Angels Foundation Inc sits at the 29th percentile: it is larger than about 29% of them. Against every charity in United States with reported income it ranks in the 24th percentile, and in the 25th percentile within NY. Charities of a similar size with the same main cause include Brandel-Murphy Youth Foundation Inc ($60k), Merced Rotary Club Foundation ($60k) and Give2cuba ($60k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 87% of the total. At year end it held assets of $226k against liabilities of $6,052, net assets of $220k.