Ymic Foundation Inc

Analysis

Ymic Foundation Inc is a registered charity in United States, based in West Chester, PA. It received its IRS tax-exemption ruling in April 2010, 16 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Ymic Foundation Inc reported income of $1.2m and spending of $1.2m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $632k to $1.2m (+90%), an average of +17% a year. The sharpest change came in the year to December 2021, when income rose by 47%. Over the whole period it spent 98% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Ymic Foundation Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 79th percentile within PA. Charities of a similar size with the same main cause include Redwood Coast Seniors Inc ($1.2m), Alta Monte Child Development Center Inc ($1.2m) and Austin Creative Reuse ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% and program service revenue 3.4% of the total. Compensation of current officers, directors and key employees was $101k (8.1% of expenses). Other salaries and wages came to $479k. It paid $9,724 in professional fundraising fees. At year end it held assets of $1.0m against liabilities of $35k, net assets of $999k. It reported 60 employees.