James Madison University Foundation Inc

Analysis

James Madison University Foundation Inc is a registered charity in United States, based in Harrisonburg, VA. It received its IRS tax-exemption ruling in July 1972, 54 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 June 2023, James Madison University Foundation Inc reported income of $21.6m and spending of $21.4m, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $23.5m to $21.6m (-8.2%), an average of -2.1% a year. The sharpest change came in the year to June 2022, when income rose by 58%. Over the whole period it spent 66% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, James Madison University Foundation Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within VA. Charities of a similar size with the same main cause include LTTS Charter School Inc ($21.6m), Forty-Niner Shops Inc ($21.6m) and University of Central Arkansas Foundation Inc ($21.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 82% and program service revenue 1.6% of the total. Compensation of current officers, directors and key employees was $455k (2.1% of expenses). Other salaries and wages came to $558k. At year end it held assets of $214.4m against liabilities of $19.3m, net assets of $195.1m. It reported 11 employees.