Rediscover

Analysis

Rediscover is a registered charity in United States, based in Lees Summit, MO. It received its IRS tax-exemption ruling in March 1972, 54 years ago. 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 December 2023, Rediscover reported income of $75.6m and spending of $65.4m, spending 87% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $45.4m to $75.6m (+66%), an average of +14% a year. The sharpest change came in the year to December 2023, when income rose by 31%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Rediscover sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 98th percentile within MO. Charities of a similar size with the same main cause include LA Jolla Institute for Immunology ($75.6m), Mymichigan Medical Center Clare ($75.6m) and Acts Retirement Services Inc ($75.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 15% and program service revenue 84% of the total. Compensation of current officers, directors and key employees was $3.1m (4.8% of expenses). Other salaries and wages came to $40.4m. At year end it held assets of $41.6m against liabilities of $10.4m, net assets of $31.2m. It reported 926 employees.