Friends of McGill University Inc

Analysis

Friends of McGill University Inc is a registered charity in United States, based in New Rochelle, NY. It received its IRS tax-exemption ruling in May 1948, 78 years ago. Its declared purposes cover education, which this site groups under education and training. 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 2023, Friends of McGill University Inc reported income of $4.8m and spending of $5.2m, spending 109% of what it took in. Across the 5 years on record, from May 2019 to May 2023, income fell from $4.9m to $4.8m (-3.3%), an average of -0.8% a year. The sharpest change came in the year to May 2022, when income rose by 61%. Over the whole period it spent 101% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Friends of McGill University Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 89th percentile within NY. Charities of a similar size with the same main cause include Garrison Institute ($4.8m), School in Rose Valley ($4.8m) and Mission for Educating Children with Autism ($4.8m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 94% of the total. At year end it held assets of $10.0m against liabilities of $153k, net assets of $9.9m.