John Sherman & Alvina Reckman Myers Foundation for Legal Education

Analysis

John Sherman & Alvina Reckman Myers Foundation for Legal Education is a registered charity in United States, based in Pittsburgh, PA. It received its IRS tax-exemption ruling in January 1974, 52 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, John Sherman & Alvina Reckman Myers Foundation for Legal Education reported income of $18.9m and spending of $1.7m, leaving 91% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $103k to $18.9m (+18233%), an average of +268% a year. The sharpest change came in the year to December 2023, when income rose by 5506%. Over the whole period it spent 11% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, John Sherman & Alvina Reckman Myers Foundation for Legal Education sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 96th percentile within PA. Charities of a similar size with the same main cause include Center for Community Alternatives ($18.9m), Jewish Community Center on the Palisades ($19.0m) and Young Mens Christian Association of the Inland Northwest ($18.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 82% of the total. Compensation of current officers, directors and key employees was $76k (4.5% of expenses). At year end it held assets of $19.4m against liabilities of $0, net assets of $19.4m.