Fund for Advancement of Minorities Through Education Inc

Analysis

Fund for Advancement of Minorities Through Education Inc is a registered charity in United States, based in Pittsburgh, PA. It received its IRS tax-exemption ruling in December 1993, 33 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, Fund for Advancement of Minorities Through Education Inc reported income of $1.3m and spending of $1.9m, spending 149% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.2m to $1.3m (+7.5%), an average of +1.8% a year. The sharpest change came in the year to June 2021, when income rose by 45%. Over the whole period it spent 102% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Fund for Advancement of Minorities Through Education Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 80th percentile within PA. Charities of a similar size with the same main cause include Trinity Childrens Center Inc ($1.3m), Sunrise Community Center ($1.3m) and Casner Christian Academy Inc ($1.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 75% of the total. Compensation of current officers, directors and key employees was $99k (5.1% of expenses). Other salaries and wages came to $526k. At year end it held assets of $9.3m against liabilities of $561k, net assets of $8.7m. It reported 23 employees.