Martin Truex Jr Foundation Inc

Analysis

Martin Truex Jr Foundation Inc is a registered charity in United States, based in Mooresville, NC. It received its IRS tax-exemption ruling in November 2007, 19 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. The IRS classifies it as a private non-operating foundation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Martin Truex Jr Foundation Inc reported income of $1.0m and spending of $992k, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.2m to $1.0m (-8.9%), an average of -2.3% a year. The sharpest change came in the year to December 2021, when income rose by 67%. Over the whole period it spent 101% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Martin Truex Jr Foundation Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 80th percentile within NC. Charities of a similar size with the same main cause include Fortress Youth Development Center Inc ($1.0m), STEM Advantage ($1.1m) and Big Brothers-Big Sisters of Lorain County ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 35% of the total. At year end it held assets of $472k against liabilities of $962k, net assets of -$490k. It reported 1 employees.